Originally Posted by somnambulant
My real estate question: is it possible to buy property in Toronto to build a house without being a squillionaire?
I'm assuming not, unless you happen to luck into something, know someone or buy a lot with a burned down house or something. I have dreams of a nice modern green home (possibly pre-fab), but I don't think that will ever be realized in this city unless they change their minds about laneway homes.
also: bicycles.
There is a Toronto trick and it happened on my street a couple years back. You need to hunt down an old and aging "ontario cottage". you basically find a crappy old detached bungalow on a decent lot, rip it down, and build a brand new semi. For the cost of building a new house you are actually building 2. Live in one and sell the other side and you've covered the cost of building the house. If yer really good you'll even be able to take a dent out of the original purchase price...
Yes risky but if yer savvy you could be in a good spot.