"Expansive rooms, luxurious softwood flooring, original plaster details throughout, and a master bath you won't believe!"
As someone who lives in Toronto, it really sucks that it has come to this. I know there are many cities that have gone through this or are going through this and it sucks to not have a light a the end of the tunnel if you got in late or didn't have a family to pass one down to you. I feel like at some point im going to have to leave the place I have called home my whole life because rent and housing costs are through the roof. It's such a shame.
As a Chinese guy born in the 80's in TO, I put a lot of the blame for this on Hong Kongers (during the late 90's they brought over their practice of quickly flipping houses) and now especially the Mainlanders who come over and just buy for investing. Of course the government is also to blame because they have not put any restrictions on foreign money coming in. Soon local, actual Torontonians won't be able to buy any houses and they will all belong to people from outside Canada. I would say most people do not have incomes that are increasing with the house prices.
Still not worth it...
Put 250k into the remodel.
Paint, new floor, new kitchen, granite, lots of marble.
Relist for 1.3-1.5mil
“Yeah but the location though”
"Complete with that vintage finish. Fully Customizable so you can express your self without limits!"
And I believe you meant <$100 per square foot.
Heck you can buy a whole town in western SD for around $130,000 if I remember correctly
Someone could dump way less than 750k into that and still make a good profit. 150k into it (barring any major structural issues or land issues) and that place would look boss.