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Old 03-24-2021, 02:19 PM   #353
timun
First Line Centre
 
Join Date: May 2012
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Quote:
Originally Posted by edslunch View Post
I’m curious about land value vs house value. We have a renovated bungalow in Altadore, nicely renovated but still a 1600 sq ft bungalow on an R1 lot which is out of step with what is being built in the neighborhood.Seeing the continuous tear downs and builds going on in the neighborhood and the high price of some of these new single family homes, are we more likely to sell the house just for land value or do we get value for the house that’s on it?
In Altadore? In my experience your house is essentially worthless. It's all land value. You have to find someone who reeeeeally likes your house to pay any kind of a premium on it; otherwise most potential buyers in that area are developers who plan to tear your house down and replace it with something much larger in the $1.2-2.3M range. If anything it would be worth more as a bare lot.
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