When most buyers are avoiding renovations, could the right fixer-upper actually be where the value is? In this week’s Pick 5, David Fleming looks at five Toronto homes that need work, from an under-$800K semi on Greenwood to a $2.2M property in prime Leaside.
This week’s homes aren’t tear-downs or blank canvases. David is looking at the location, lot size, existing footprint, layout and potential upside of each property, asking how much work is actually required and whether the finished home could be worth significantly more. And while some are clearly bigger renovation projects than others, there’s plenty of opportunity for buyers to design their dream home in prime Toronto real estate.
This week’s picks:
- 02:00 – 287 Greenwood Ave: Listed at $788K, this 23.5-by-120-foot semi is the entry point of the episode, and it needs plenty of work. But David sees past the dated finishes, questionable wiring and rough basement to the solid brick structure, large footprint, generous backyard and excellent access to Greenwood Park, the Danforth and transit
- 06:05 – 528 Soudan Ave: A four-bedroom, three-bath semi on a 25-by-112-foot lot, listed at $999K as an estate sale. The house is largely original, but David loves the location, school district and unusually large layout, particularly the main-floor family room
- 11:20 – 143 Marchmount Rd: This 1913 Edwardian semi is a much larger renovation project, with five bedrooms, two bathrooms and a duplex setup. David loves the architecture, the size and the location near Wychwood, but the interior needs major work including removing unnecessary walls, opening up the main floor and potentially reconfiguring the upstairs space rather than simply preserving all five bedrooms
- 16:46 – 181 Garden Ave: A three-bedroom, one-bath home in a prime location and school district, this property has already had some renovations, including a newer kitchen, but sees a great project underneath the partially updated interior, especially for someone who values the location and wants to create a home their own way
- 20:45 – 61 Hannah Rd: Listed at $2.2M on a 35-by-135-foot lot in prime Leaside, this four-bedroom, four-bath home has a private driveway, great backyard and a strong existing footprint. David believes you could renovate it without dramatically changing the structure and end up with a home worth around $3.5M, calling it the best renovation candidate on the market