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This $900K Toronto home is a perfect 70s time capsule

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According to realtor Ara Mamourian, this Scarborough property could go several ways once it’s sold.

One way: demolish the existing house and build a giant one instead, which would be somewhat typical for this neighbourhood.

Another would be to renovate this epic time capsule of a house and turn it into something even cooler.

A third option, that the listing mentions, is to build townhomes in its place.

311 Beechgrove Drive Toronto

The dining room.

Townhouse are definitely needed in a city that has a housing shortage, but at the same time, it would be a such shame to lose this unique home.

311 Beechgrove Drive Toronto

The main bathroom.

This three-bedroom, two-bathroom home has a strong 1970s vibe if we’ve ever seen one.

311 Beechgrove Drive Toronto

The kitchen.

From the wood-paneled ceilings, to the retro kitchen and bathrooms, to the stone fireplace in the basement, 311 Beechgrove Drive is really something special.

311 Beechgrove Drive Toronto

One of the bedrooms with a walk-out to the balcony.

Seriously, there’s wood panelling on the ceiling in almost every room and occassionally also on the walls. Do you know how expensive that would be to do today?

311 Beechgrove Drive Toronto

The office in the basement.

“311 Beechgrove was owned by a lovely couple since the early 80s, and they raised their family there. The matriarch is in her 90s now and moved into a home closer to her kids,” Mamourian explained.

“[It’s] such a great home that’s been loved for decades. It may look a little less glam than what people are used to, but it’s been so well-maintained that, with a little cosmetic work, it is totally liveable.” 311 Beechgrove Drive Toronto

The living room.

The spaces inside the house are big, bright, and airy.

311 Beechgrove Drive Toronto

A sunroom off the primary bedroom.

There’s also plenty of charm and character.

311 Beechgrove Drive Toronto

The primary bedroom.

Turning this home into a dream mid-century dwelling would be easy, especially since the bones are in such good condition.

311 Beechgrove Drive Toronto

The rec room in the basement.

The listing also notes there have been recent upgrades to the HVAC system as well as the roofing.

311 Beechgrove Drive Toronto

The breakfast room with a built-in bookcase.

But even more special than the interior is the price, plus the land this retro gem is sitting on.

311 Beechgrove Drive Toronto

The front of the house.

311 Beechgrove Drive is listed for only $899,000 and has nearly half an acre of land.

311 Beechgrove Drive Toronto

The ravine at the back of the property.

The property is a whopping 50 feet by 236 feet and located right on the edge of a ravine, so no backyard neighbours!

311 Beechgrove Drive Toronto

An aerial view of the neighbourhood.

Additionally, the listing mentions that the lot next door is also for sale, which would double the property size if you purchased it.

“The neighbouring property is more turn-key with a recent renovation, so demolishing it would be shame. It offers a basement suite that’s currently rented for a great price and a large main floor owner’s suite with two bedrooms,” said Mamourian.

311 Beechgrove Drive Toronto

The back of the home with a walk-out basement.

The home next door is not “officially” on the market but Mamourian told blogTO that “the owner would consider a sale for the right price.”

311 Beechgrove Drive Toronto

The backyard.

So, depending on what your budget is or your plans are, this place could be the perfect canvas for your next big home reno project.

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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

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