Posted August 09, 2018 04:38:56 A lot of people want to buy a condo at their grandma’s old house, but they don’t want to live there anymore, says Toronto real estate agent Jason Goss.
“They don’t know they can still afford it and they don and don’t feel comfortable living in it.”
Jason Gollin/CBC NewsGoss is the owner of Toronto’s oldest condominium.
“There’s a lot of families who would like to buy their grandmothers place and that’s great,” he says.
In an effort to find a buyer, Goss says he’s spoken with several prospective buyers. “
It’s really hard for them because they feel a lot like a tenant.”
In an effort to find a buyer, Goss says he’s spoken with several prospective buyers.
“I spoke to the people who have expressed interest in buying the place,” he adds.
“The one thing I hear from a lot is ‘I want to do it for a long time,'” he says, noting that he doesn’t expect to see his grandfather move out of the house anytime soon.
“That’s why I’m not saying, ‘If you’re going to do that, then you have to sell it.'”
Jason Gouldin/The Lad Bible “There are a lot people who would love to live in their grandmas place” Jason Gosen/CBC Toronto realtor Jason Gross has lived in a lot older homes before.
“My grandfather and my great-grandmother lived here,” he tells CBC Toronto’s Jessica MacIsaac.
“A lot of them didn’t get along and some of them died.
But my grandpa lived here for 40 years.
I’ve lived in condos in other places and my grandparents were not the best people.”
Goss has been looking for a buyer for the Goss family home since the 1970s.
But his efforts haven’t been successful.
The Gosss’ old house was sold in 2011 for $873,000.
It sold for $4.9 million in 2014, but Goss was still waiting for a new buyer.
“One day, I was going down to the garage,” he recalls.
“And my friend says, ‘You need to talk to your agent.'”
Jason Gould/CBC The sale went through, and the family has since bought a new condo.
But the property has long been a source of angst for many Toronto condo owners.
“Our old house is just a blighted site and it’s been a constant source of anxiety for many years,” says Jason Gould, who has lived at the Gollins’ old home for 25 years.
“We’ve got some very lovely homes and a lot more nice condos, but our old house has been a blight.”
Some condos that are being marketed to people who can afford to live here, but want to make a decision sooner than others.
“Most condos on the market right now are going for around $1 million, $1.6 million,” says Goss, noting some are even more expensive.
“You don’t need to sell that house to have that kind of money.”
Jason Gould / CBC Goss is one of the more successful brokers in Toronto.
He says the demand for older properties has been “crazy.”
He has been involved in sales for over 40 years, and has worked for developers in Toronto and Vancouver.
But he’s not seeing that demand slowing down.
“If you want to sell a condo, you need to be ready to go, to have a plan, to be in the market,” he said.
“Otherwise, people are going to buy condos with no plans at all.”
“You can’t just go and buy a house on the cheap,” he explains.
“People are going out there and they’re going looking for an affordable home and that is what is making people buy.”
“It does become a real challenge to be a condo broker, and to be the first to sell an older condo in Toronto, to get the first call.”
Jason Goddard/CBC It’s a dilemma many real estate agents have to grapple with.
The old homes are no longer affordable, but many people are choosing to move closer to the city.
“Many people are finding that they can afford more of their lifestyle now,” says Michael Mays, a realtor with Hordern & Mays in Mississauga.
“More and more people are opting for living in larger neighbourhoods.
So they’re buying smaller houses, and that helps them to live closer to where they work.”
Mays says the market has changed in the past five years, especially with millennials and the growing number of new condos in the city, which have been more expensive than ever.
Mays also notes that the city is adding more rental units and many are being sold at record prices.
“So, when people buy a home, they’re probably looking at a price that they’re comfortable