Advantages to building on a Toronto serviced building lot
Some of the build advantages include:
a) Acquiring the Site and
b) Arranging your Build
1. A fresh serviced building lot ready to build. Avoid the process of demolition and site clean-up.
2. The generous lot frontage accommodates a wider house for greater curb appeal and a balanced floor plan. Avoid the long narrow layout and one car garage found on narrower sites.
3. Control the selection of house design, layout, features and finishings without the limitations of an existing house. Invest in what matters to you and maximize value.
4. Have an entirely new home from the foundation and basement up. Avoid a new home with an aged foundation and basement, with low ceiling height.
5. Be the first to occupy your new custom home.
6. Acquire your site and then build your home on a scale that you find the most liveable and affordable both to purchase and maintain. Determine your own balance between the quantity of space and quality of finishings.
7. The two-step process of acquiring your building site directly and then arranging for your custom-build allows you to direct the investment of your money to the quality of the site and of your home. The alternative of buying a speculation build brings avoidable built-in costs. Land transfer tax is collected on the value of the property at the time title is transferred. To purchase a vacant lot is to pay land transfer tax on the land value only before value has been added by the construction of the building. Also, this transaction is exempt from the Harmonized Sales Tax.
8. From an investment standpoint, this area west of Mimico Creek and south of Bloor St. West is increasingly a top performing area for real estate sales with very significant investment in new, rebuilt and renovated homes. It is attracting many families from neighbourhoods with small frontages and single car garages. The area offers excellent value with wider lots and quiet streets.
For the buyer who values these benefits, there is exceptional value to be realized.