HOLY CRAP!... Village Homes are almost $400,000 in Milton!!
By: Ariel Kormendy
A recent question asked by one of our clients led me to think it's a good time to do a review of what being a first-time home buyer (or an investor) 5 or six years ago would mean today. The Question? "How much do you think this home might be worth in 5 or 6 years?".
A bit of a loaded question. My keys to the magical portal to the future have been misplaced at the moment.
To better understand what value a home might be in the future, we analyze the past.
In fact, one of the many things I am proud that our team does so well, is helping our buyers with educated advice. I am a Realtor, but I am also a Financial Advisor. Not by designation or credibility, but, I believe it would be a fair statement if I said for most people, their largest asset and their greatest investment is their home. So in a very true sense of the form, yes, I am also a Financial Advisor. I take pride in knowing we have helped great people to purchase their dream home at a great price and that it will be the highlight of their asset portfolio.
I reviewed and now want to share with you, what a first time home buyer would have purchased in 2009 and how that investment has performed since then.
Much like today, Mattamy Village homes continue to be one of the best options out there. These spacious homes are typically maintenance free and provide affordable, trendy living without many sacrifices. Investors have fared well with these homes as well, with renters finding that they provide great value for their dollar too.
The six homes featured below were chosen to be comparable in size, features and location. It's a quick glimpse of how these homes have appreciated and what you could expect to pay for a starter FREEHOLD (no condo fees) home in Milton.
Pretty neat to see that every year since 2009, these homes have increased an average of about 6%! Much higher than the MLS average in Canada of 2.1%. And of course, when the prices of the starter homes go up, so do all the larger homes in the area. Pretty interesting stuff!
Milton is a great place to live and invest and I am proud to live, work and play in this town. It's not too late to get in at what many believe are still entry-level prices as Milton continues to grow. With projections of doubling the population in the next ten years, whispers of a new Wilfred Laurier University campus and with large businesses moving in, there is no shortage of excitement.
As always, I am happy to help you find your dream home or answer any questions about Real Estate or the Town of Milton that you may have. Call me directly at 647-464-0957 or email me at Ariel@KormendyTrott.com
Leave a comment on this blog to share your thoughts!
|Closing Date (all sales occured during June-Oct of respsective year)||Comparison (3 bedroom models with similar upgrades)||Sold Price|
Sold for $275,000 in 3 days
Sold for $298,000 in 7days
Sold for $312,000 in 1 day
Sold for $336,900 in 14 days
Sold for $356,500 in 11 days
Sold for $377,000 in 3 days
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