$1.8 million house in Toronto costs this much because of its lot

In a twist, despite this home being livable, its owners don’t feel that is a key fact tied to its expensive price tag

90 Scarborough Heights Blvd in Toronto is the latest house in a string of listings hoping to take advantage of a new wave of construction in the area.

The very normal-looking three-bedroom, one-bathroom home is being sold by its owners for $1,799,999, a cost that’s well above what detached homes typically sell for in the area. For example, similar homes in the area have sold in the $1 million range over the last few months.

That said, the home’s owner points to a $1.3 million sale from early this month related to a home with less than a third of the size of 90 Scarborough Heights’ lot. In fact, the owner is so sure that the home’s price is fair that they’ve set up a website outlining their case. 

As is the case with many listings tied older houses in this aera, in this case you aren’t buying the home and instead are purchasing the sizable lot.

“We are welcoming viewings as, certainly, the home is livable and currently occupied by us, but due to the lot size we know the inevitable outcome will be that my childhood home will be redeveloped,” said its owners — who are actually selling the house themselves — in a statement to blogTO.

The house sits on a 0.33-acre lot with vacant space to the rear of the property that allows for a possible expansion. The home is also located near Scarboroughs well-known bluffs, walking trails and parks.

Source: Realtor.ca Via: blogTO

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