Currently for sale in Barrie for $200,000.
According to Toronto Life magazine's September issue the "House Hunt has become a blood sport". It talks of bully offers, bidding wars, and greedy sellers. Of course this is "Toronto Life" and this article refers generally to what I would call "Metropolitan Toronto". It does not take into consideration the wider expanse of the GTA or the Golden Horseshoe which expands the area to include Barrie and Innisfil. For a growing number of Torontonians the very real option to live in Barrie or Innisfil offers not only much more affordable housing, but more choices of homes and lifestyle. The hunt for a home is also much more relaxed with both the buyer and the seller having ample time to fully protect their interests. The year to date average sale price of a home in Barrie is currently just over $300,000. The average sale price in various areas of Toronto is in the neighbourhood of $550,000 with the average detached home much higher.
So how do the prices compare? Consider a renovated 3 bedroom semi detached near Ellsworth Avenue with an island kitchen and a finished basement with a separate entrance listed for $699,900. A home inspection revealed that the workmanship of the renovations were not done well. (Toronto Life). A 3 bedroom, 2 storey home in the Woodbine Corridor is currently listed for $529,900 that "needs a facelift" (an understatement) with some knob and tube wiring!
Would you prefer a 12 year old 3 bedroom home, with a large yard and deck, and a double garage? A home of this description in Barrie has an asking price of $299,900. For $450,000 you can expect to find a comfortably large detached home with lots of extras, 4 bedrooms, 3 baths on a beautifully treed ravine lot. A first time home buyer can expect to find a newer, very comfortable 3 bedroom townhouse with a finished basement for under $250,000 in very popular areas of town.
If the idea of a half million dollar mortgage or more has you nervous, consider calling me for a tour of some of the homes available in Barrie.
Watch for more market information in the coming weeks.
The home pictured below is currently listed for $449,900. Located on a prestigious and quiet street in Barrie.