Categories: Uncategorized

6

What kind of house can $500,000 buy you?

Hamilton
Hamilton

Hamilton

Listing Price: $479,000 Size: n/a Bedrooms: 2 Bathrooms: 2 Extras: Two-storey condo in an history building that once hosted royalty

Tags housing / housing market / real estate / recession /

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  • JH

    That home is in a downtown pocket where Hamilton’s elite have lived since the mid-1800s, when most of these homes were built. Right across from hospitals downtown, and tucked into the natural features of the Niagara escarpment. Funny thing is that you can find similar houses-not just condos-for the steep price of half a million in the same neighbourhood. If you are willing to move a 10 minute walk eastward, you can still purchase heritage homes of less grandeur (more similar to the Toronto house displayed) for under $200,000, even for $150,000, if you keep an eye out.
    Lots of reno work and flipping going on in Hamilton, and, not to mention, less people sleeping on cardboard in parks on account of reasonable rental and ownership prices. Many more mixed-income neighbourhoods.
    We were actually compelled to purchase our current home in Hamilton after driving through the Annex in Toronto, and seeing signs for “Lofts-starting at 1.1. to 7,” I was rather afraid.
    Now we are a 40 minute commute from Toronto, snugly nested in a heritage home across from a large park, in an urban downtown core within walking distance to public and GO transit.
    Hamilton rocks the socks off of Toronto’s housing market!

    • ja

      i have to agree with jh on the appraisal of hamilton. having lived in the annex(toronto), kitsalano (vancouver), the plateau (montreal) and saltspring island (bc island), and experiencing the cost of being part of those communities, i can say hamilton is my surprising choice to live. the biggest shock to the system is having my doors unlocked and not being too worried. it will never be the epicenter in the “toronto” sense but ranks very high in the enlightened community department .

      • Kazra

        My cousin lives in Hamilton on the Mountain and they only lock their front door at night! Me being from the GTA was shocked when I learned this. After being in Hamilton many times now I wouldn’t mind moving there myself. If the price is right why not?

    • Moe

      40 minute commute? Maybe on a sunday morning. Also, the taxes in hamliton are sky high. I don’t argue it has nice areas tucked away in the city.

    • H.A.T.

      Claiming the commute to TO is 40 minutes is just not true, unless you do it on new year’s day at 7 in the morning, and add a speeding ticket to the equation. I’ve done it and people that say so are liying to themselves.There’s no doubt Hamilton’s housing market is more accessible, but the whole point here is that when you buy a home you also buy a lifestyle. If your choice is to drive an hour (if you’re lucky) or an hour an a half each way, in exchange for a larger home, I respect that. My choice is to live in a smaller (but very comfortable) house near the lake in TO and jump on the TTC anytime I want. No car, no 401, no road rage. Sitting in a car for 3 hours everyday would be unbereable for me, not to mention a waste of priceless time with friends and/or family. We may have some unique characters walking (or sleeping) on the streets here, but they are also part of the urban landscape, and to be honest I wouldn’t like to live in a sanitized suburbia-like place. I think Toronto is a great city, but as I said before it is a matter or how do you want to live your life.

  • http://omgsean.com Sean

    Hamilton is a solid market, but there’s not enough to do around here! We need more bars, more restaurants, and more live music venues! Fewer empty malls (Jackson Square I’m looking at you), fewer boarded up storefronts with empty apartments above, and fewer “antique stores” that are filled with junk and never open. Hamilton has a lot of potential, but it’s cheap to live here because that potential hasn’t yet been realized.