Value of a GTA Townhome vs. Split Lot Home

Mar 21, 2019

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If the idea of buying an old lot, demolishing the residency, and adding infill property into the lot sounds like a good idea, you may want to reconsider. Although building two or more homes on a lot may seem logical and cost-effective, most of the time this just isn’t the case; often, buyers find this out after the fact. While it can be done, there are smarter and cheaper ways to buy the home of your dreams in GTA. Below are a few reasons why split lot homes just aren’t worth the trouble and why opting for GTA townhomes makes more sense all the way around.

Expensive lot, tiny home

Although the idea of buying a split lot to house a few homes sounds like you’re getting the best bank for the buck, you’re really not. Split lots still sell for over $1-million; the cost of construction on several homes alone is going to set you back even further. Then you have to consider how much space you actually have for each home on the lot. It’s surprising how much space a house takes up; put several on the lot, you’re possibly going to have to opt for a smaller home than anticipated.

Less for more

You will also have to settle for a smaller backyard – in fact, you may not even have one. Moreover, you may not even have a driveway or a garage, meaning you will have to park on the side of your road (which could be a problem if you have guests). You will also be responsible for maintaining your property such as mowing or doing general maintenance.

Unhappy neighbours

People hate split lot homes – if you opt to build, expect them to be less than inviting toward you. Not only do many residents of the community see split lot homes as an eyesore, but they also hate how developers seem to stroll in and rip up everything sacred about the lot (and in turn, the neighbourhood). Many of these homes are part of a heritage designation, which means the neighbourhood likely has a community guideline that states what can and cannot be done on a lot. One of the biggest issues such communities have with split lot homes is that the built homes are not uniform with the rest of the neighbourhood homes – in other words, they stand out and not in a good way.

They also have to live through the constant bombardment of construction. To many, it’s annoying and unnecessary. Depending on how many homes are being built on the lot, who knows how long that could take? In fact, the home(s) may not even be built due to the restrictions many communities have with inlet buildings; if the buildings cannot be built, you have a lot you cannot do anything with. Often, it’s just not worth the risk.

GTA TOWNHOMES

GTA Townhomes are the better option

Whether you are looking to purchase your first home or this isn’t your first rodeo, reach out to Dunpar Homes right away. Our GTA townhomes offer living space that’s on par/slightly larger than split homes. You also never have to worry about cutting the grass, shoveling snow, or providing any type of maintenance on the property whatsoever.  Less expensive with actual amenities and a nieghbourhood that isn’t going to scoff at your home every time they see it, GTA townhomes are the logical decision. Call today, and let’s start the process of finding the perfect townhome just for you!

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