Quote:
Originally Posted by edslunch
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?
|
I am in a very similar situation with a smaller reno'd bungalow (1200sq ft) Edit: R-2. It is rented now, but the return isn't really that good for the amount of capital I am (hopefully) sitting on.
I was hoping that perhaps it would be the best of both worlds, where both developers and families would be interested, but I do fear the value of the house may be very little, even though it is very nice.
I was thinking of canvassing a few builders to see how they value it, but I expect to hear a response of they will pay "market value", which is meaningless. Similarly, I am afraid if I retain a realtor, they may end up overestimating in order to obtain my business.
My real hope is that fancy-pants Peter12 would have a look and see it as a steal compared to the crappy 2 bedroom condos in Vancouver...