#GTAHomeHunt is a weekly series from Star that goes into the details of property listings in the Toronto and Greater Toronto Area. Do you have a tip? Send us an email at firstname.lastname@example.org
Price: 1,720 $ / month
X-factor: This unit with a bedroom and a bathroom on the ground floor of a duplex house is fully furnished and renovated with new kitchen and shower. In addition, utilities are included in the price.
This unit is located on a residential street and has access to a backyard with barbecue and street parking.
Just south of St. Clair West is also within walking distance of various cafes, shops, restaurants, bars, grocery stores and more. Several buses within walking distance can connect a tenant living here with the Bloor -Danforth metro line.
However, this unit list has remained untouched for a few weeks, despite the fact that October 1 is indicated as a possible move-in date. Why is it still on the market? We ask our expert, real estate agent Othneil Litchmore, for a better understanding.
Why is it priced this way? At 300 Old Weston Road, this unit is available for $ 100 more (a month) than the average one-bedroom home and bathroom in the neighborhood. But at 500 square meters it is relatively small. Renters looking for a unit of the same size in the area can find one for about $ 1,600 a month, Litchmore says.
What drives the price up for this home is probably the renovations, the utilities that are included, and the fact that it is fully furnished, he says.
“It’s definitely what they think is a selling point,” he says. “But… it’s a little overpriced for what you get. Probably the main problem is privacy, setup, space. ”
While a furnished home may attract some, Litchmore does not see it as a great asset.
“I do not know how many people want a fully furnished place,” he says. “I know students do, and people who are kind of transient, international students or people who just moved to the city to work – it may be to their advantage, but I do not know how in demand fully furnished places are , ” he said.
And while that may not be the reason people say no to this device, he points out that noise from nearby train tracks in the area can be annoying.
Tips for finding places like this? “With a budget like this, you have more options,” Litchmore says, emphasizing that noise from neighbors in a remodeled house can be a problem for some.
Since August 1, 29 units have been built for rent in the area, he adds, so if a tenant wants to live in that particular neighborhood, there will be more places to choose from.
If a tenant is more interested in living in the center, they can also make it happen. Litchmore says it would be possible to find a small apartment in the center for about the same price or $ 1,800.
“Obviously, anyone who wants to live close to the center will pay less than $ 2,000 will have to make compromises,” he says. “That’s the key, but … you can pick and choose your compromises.”