FS: My House! Great development opportunity.

[89coupe]

You can't build three homes on an R2 lot, its not allowed. Two houses yes.

Lots of houses being built in Garrison Greens are only 18ft wide. Very nice homes.

The minimum requirement to a property line is 4feet. So 8 feet between homes.

Infill guidelines http://www.calgary.ca/docgallery/bu/...e_part2of5.pdf

[C4S]

Cool ..

More and more like Toronto style now .. narrow but deep home ...

Just read newspaper .. property tax assessment is the biggest problem for those old old houses .. an old guy paid $13K for hes house (40 yr ago) ... but need to $351K property tax! and one guy paid $130K for his house (30yr ago ) and governament valued at 751K

Lots of those old people .. hv to sell their house .. since they can't afford to pay the tax! ( but they can make huge money! why not .. )

[t-im]

Originally posted by C4S


Cool ..

More and more like Toronto style now .. narrow but deep home ...

Just read newspaper .. property tax assessment is the biggest problem for those old old houses .. an old guy paid $13K for hes house (40 yr ago) ... but need to $351K property tax! and one guy paid $130K for his house (30yr ago ) and governament valued at 751K

Lots of those old people .. hv to sell their house .. since they can't afford to pay the tax! ( but they can make huge money! why not .. )

I agree. I know someone who's house went from about $760,000 last year to $2.65m this year.

[69cougar]

Originally posted by C4S


Cool ..

More and more like Toronto style now .. narrow but deep home ...

Just read newspaper .. property tax assessment is the biggest problem for those old old houses .. an old guy paid $13K for hes house (40 yr ago) ... but need to $351K property tax! and one guy paid $130K for his house (30yr ago ) and governament valued at 751K

Lots of those old people .. hv to sell their house .. since they can't afford to pay the tax! ( but they can make huge money! why not .. )

Call me cynical but I dont feel sorry for them. Most of them have been in their houses for 30+ yrs and are mortgage free. What have they done with all the money they made over the years. Seniors now are one of the wealtheist demographics in Canada. Like everyone else they use their age as a crutch to try and keep more green in their pocket.

Like Ald Ray Jones said, show us someone who had to move becasue they couldnt afford their property tax. Hell they even have progrmas for seniors to defer payments etc

[benyl]

They are plenty of seniors who don't have money. Many of them are getting less and less money too.

They should really do proper assessments of senoirs.

[blitz]

Originally posted by benyl
They are plenty of seniors who don't have money. Many of them are getting less and less money too.

They should really do proper assessments of senoirs.

I don't feel sorry for anyone who can't afford to pay property tax on their $1,000,000 home, even seniors. Bottom line is they're rich. Sell it and move somewhere else.

[ringmaster]

Originally posted by blitz


I don't feel sorry for anyone who can't afford to pay property tax on their $1,000,000 home, even seniors. Bottom line is they're rich. Sell it and move somewhere else.

lets try and keep this thread some what clear and on topic please.

[sputnik]

Originally posted by max_boost
You can build three infills except if you don't have a garage, it's going to be a hard sell since you don't have an alley.

Most of the infills in that area are wide attached units with attached front-drive double garages. A friend of mine built a duplex on 25th AVE NE (a couple blocks east of Edmonton Tr). Each side is 1900 sq ft with walkout basements.

Unless you build them yourself you wont make much money on them if the property alone costs $700,000. This lot is for someone that wants to build their dreamhome, not for someone that wants to make some "easy money"

[izzoblitzo]

You wont be able to build three single family homes on a lot this size.

You could perhaps build a semidetached on it, assuming you have a minimum 15m frontage (because you'll need a min. 7.5m frontage for each side).

If there's no rear attached, you'll have to ask for a front attached, or an underdrive garage should the grade and utilities allow you to do so.

But be prepared to pay up.. the city will charge an arm and a leg for the curb cuts.

This lot would make some coin should the owner decide to build a semi detached by himself... and sell it off..

but for someone to come in and purchase it at that price, and then do a semidetached, he's not going to make much money at all...

For $600,000, you'd have to anti-up another say, 300+/- ish to build a decent semi-detached for that neighborhood.. so it'd still be something like 450ish for the base and then you'd have to upcharge from there... keep in mind, this is for a townhouse, not a single family.

After development permits, demo, building permits, grades, curb cuts, it's well into about 6 months into the project, and it could drive up the costs as well. I'd have to check, but Im not sure if you could build 3 semidetached units in an R2 zone...

dont forget, the house on it doesnt factor into the sale as much as the land does... but it's often what sells your home over your neighbors if you have a nice house (that's roughly the same)... having a crappy cheap house next to yours will drive your price down.