About three years ago, my family and I decided to take advantage of Toronto’s real estate upswing. We opted to sell our townhome while prices were skyrocketing ending up with a very decent profit. In fact, our profit was so good that it allowed us to pay cash for a large, four-bedroom character home in Winnipeg. Yes, we had decided to relocate to another city, leaving our friends and family behind, setting out for a new life for our family. And the best part? We were mortgage-free!
Our big house is absolutely sprawling and the property boasts a double lot. If our home was located anywhere within the Toronto real estate market, there’s no way it would sell for less than $300,000. Fully renovated and depending on the exact location, the selling price could even be close to $500,000. So, how did we manage to land this real estate deal and claim our mortgage-free status? The real estate market in Winnipeg is one of the city’s best kept secrets. We’ve experienced a 20% increase in our market in the past three years. However, when we bought our home, we paid a measly $65,000 for a three story home in good condition. There are some cosmetic things that needed (and still need) to be done. My husband plans to install brand new hardwood flooring throughout the main living area. But these are minor concerns when considering what a home of this size and character would go for in the Toronto real estate market.
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Written by info on June 23rd, 2006 with comments disabled.
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