Comment 49123

By robbie_dolittle (anonymous) | Posted October 09, 2010 at 19:21:06

With an impending job offer in Hamilton, I took it upon myself to check out the houses for sale on the internet. I could not believe the price of real estate, compared to Toronto. My neighborhood here boasts 2.5 story Victorian brick beauties for the reasonable price of 2-3 million dollars. (No I don't own one, I rent an apartment) Comparable houses in Hamilton? I found one I fell in love with, a 3-plex. With 5 percent down I could rent the 1 bed/1 bath attic for $400/month --- my mortgage payment, and I could keep the remaining 2 kitchens, 2 living rooms, 1 den, 2 bathrooms and 4 bedrooms on 2 floors for myself for the cost of utilities.
I had to drive down to Hamilton just to check this out. Armed with printouts of 6 or 7 properties, I found three that I would buy in an instant. The only draw-back was the neighborhood. But thinking forward, if I was to buy all three, which was certainly an option, I could restore the houses to their original charm. This might encourage others to do the same, and eventually turn the area into what it must have been 30 or 40 years ago. I know this won't sit well with the affordable housing promoters, but it's a vision to the future, and turning a visibly "down" neighborhood into something to be proud of.
I've seeen this in Toronto on a grand scale, and it's happening in St John New Brunswick on a smaller scale.
Can/will this happen in Hamilton?

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