It’s no joke out there for Toronto’s first-time buyers — finding a detached home within budget is like finding a needle in a haystack. But buying a fixer-upper and renovating, as several seasons of that show on HGTV will tell you, is an option for getting into the neighbourhood you want. Here’s what you can get within the confines of Toronto for under $600,000.
Asking price: $560,000
The home: There’s lots of potential in this little brick bungalow in Rockcliffe-Smythe. Located on a dead-end street, this two-bedroom, one-bathroom home features new-looking floors, a front parking pad, and a fenced backyard. There’s no central air conditioning (you’ll have to make do with a portable unit) and the house is heated by radiators, but its location puts you close to great entertainment and amenities in The Stockyards, The Junction and Humber Valley Village.
Asking price: $589,900
The home: The furnaces in this house are listed as new, which is good news for your renovation budget. Set in Hillcrest Village, this semi-detached at 144 Hollyberry Trail includes three bedrooms, access to the backyard from the kitchen and a driveway with enough parking space for at least three cars. Mirror-selfie lovers beware, though — there is only one bathroom. If planning permits, adding another bathroom could yield a good return on resale investment for this otherwise family-sized home.
Asking price: $599,900
The home: Recoup that hefty downpayment by reno’ing the basement into a rental suite in this two-storey, two-bedroom semi-detached in Oakwood-Vaughan. On Northcliffe Boulevard, this “sweet semi with parking in Central Midtown,” has income potential with a separate entrance in the unfinished basement. Upstairs, there’s a screened-in front porch and a back deck which would make a great spot for sipping cold ones next to the barbecue.
Asking price: $588,000
The home: There’s a little popcorn ceiling happening at this three-plus-one-bedroom semi in Woodbine-Lumsden, but the location puts you within a 15-minute walk of The Danforth. For $281 a year, the City will grant you permission to park in a licensed space. The listing also says that there are two kitchens and a seperate entrance, which could mean rental income potential.
Asking price: $599,900
The home: Enjoy views of the neighbourhood street from the huge bay window in the front of this four-bedroom home in Hillcrest Village. The basement is rocking a serious pine getup, but is large enough to accommodate another bedroom, plus a den. In fact, there’s a lot of wood everywhere, with hardwood floors and stairs throughout most of the home. The yard is fenced, so Fido and your little ones are safe to run around without escaping.