What half a million dollars can buy you in Toronto

All this time I thought the houses down my way were quite costly.




Toronto house that began to tilt during reno demolished
CBC – Fri, 29 Jun, 2012.

A west Toronto home was demolished Friday after the house visibly tilted during renovations two days ago.

Crews at the home at 63 Maria St., near Runnymede Road and Dundas Street West, were excavating the basement Wednesday when it became apparent late in the afternoon that the house was off-kilter.

Firefighters arrived at the scene after a neighbour called 911.

The house was then evacuated, as were four neighbouring properties on each side.

A fence was erected around the house, and demolition took place Friday morning. The homeowners, who did not want to speak to CBC News, were not allowed to return to the house because officials said it was too dangerous.

According to public property records, the house was bought in May 2011 for $555,063, with a mortgage of $440,000.

City officials said contractors had been underpinning the basement.

"I don't want to speculate and say it's a contractor error," Mark Sraga, a building official with the City of Toronto, said Thursday. "We're not sure exactly what occurred ... From what we've seen, they did have permits to do the work, which is the first step of a responsible contractor."

A lawn sign indicated that FBR Waterproofing Inc. had been working at the house. The company declined a request for an interview.

Two investigators from Ontario's Ministry of Labour have also been at the scene.

http://ca.news.yahoo.com/toronto-house-began-tilt-during-reno-demolished-193135374.html

Prices are ridiculous for what you get...........

"The homeowners, who did not want to speak to CBC News, were not allowed to return to the house because officials said it was too dangerous"

That's got to be heartbreaking. Wonder if they managed to get out their belongings?

wow..I won't complain about the prices here then..

UnhingedMom wrote:

"The homeowners, who did not want to speak to CBC News, were not allowed to return to the house because officials said it was too dangerous"

That's got to be heartbreaking. Wonder if they managed to get out their belongings?

Right after I saw how much they paid for that house, that was the second thing that came to mind. Material items can always be replaced, but there are some that have so much sentimental value, it can't be replaced. A house like that would go for around $75,000 in my area with lots of repairs to be made to the home.

BigBrownEyes29 wrote:

UnhingedMom wrote:

"The homeowners, who did not want to speak to CBC News, were not allowed to return to the house because officials said it was too dangerous"

That's got to be heartbreaking. Wonder if they managed to get out their belongings?

Right after I saw how much they paid for that house, that was the second thing that came to mind. Material items can always be replaced, but there are some that have so much sentimental value, it can't be replaced. A house like that would go for around $75,000 in my area with lots of repairs to be made to the home.

Same here. My house is twice the size with a huge corner lot and backyard in nice neighborhood and we paid 198,000. With the landscaping and fence and driveway all done we could easily get 240,000.