Townhouse Prices

[fletcher]

Did anyone notice the price jump of the townhouses? They jumped almost $10,000. The Cyrus was $190,00 and now selling for close to $200,000. They must be selling alot of them to justify a large increase.

[justmed]

yeah, they've certainly gone up... our model Elacott Ensuite has jumped about 13 K from our sale date to today. :)

[smartsexystylish]

Hmmm, I wonder if ours went up also.

(*Edit: Nope, still the same price for us lol)

I know our house went up 3k the day before we went to purchase it. Then it went up 3k more since our purchase. I wish we had a nice spike in price like you two though!

[justmed]

doesnt take into account the upgrades we got though;)

[BrianNSara]

I paid 226,000 for Southgate end...... Compared to GTA this is the best deal around.

[smartsexystylish]

doesnt take into account the upgrades we got though;)

Agreed!
We didn't go over board with our upgrades but we got things that we've wanted :)

[smartsexystylish]

I paid 226,000 for Southgate end...... Compared to GTA this is the best deal around.

Honestly Brian, You are sooo right!

Kevin and I have searched and searched for something affordable and Cambridge is that place!

[justmed]

definitely... no doubt about Cambridge.

Its a great city, and plus we dont have to drive through that mess 24 can be south of the 401 to get home.

[justmed]

Agreed!
We didn't go over board with our upgrades but we got things that we've wanted :)

we tried not to upgrade things we could do without,

Didnt worry too much about resale save for the basement stuff as its our house and wanted it the way we would live in it... not like we're selling tomorrow.

[smartsexystylish]

we tried not to upgrade things we could do without,

Didnt worry too much about resale save for the basement stuff as its our house and wanted it the way we would live in it... not like we're selling tomorrow.


Exactly!
We'll be living in it for a few years, so why not enjoy it. When it's time to sell, then we'll worry about resale lol

[babymaeby]

Actually, part of the reason for the price jump is because they're freehold, not condo like the original ones...though it would take many many months to pay off 13,000 at $34/monthly. But I think they are inherently worth a little more, because people like the idea of a freehold.

The other interesting thing is that the prices for the upgrades have also gone way up - someone posted that the fireplace for their model was around $4500? I know we paid way less than that...so yes, there were definite benefits to lining up that cold Saturday in January. =)

[fletcher]

babymaeby, your explaination of the price increase for the townhouses make sense. didn't realize that they were now being sold as freehold units.

How long was your wait in January? I waited to buy mine when phase 5 opened up.

[babymaeby]

It opened at 11...we got there at 12:00 - took a number, and waited till 4:30 till we knew whether we would get a house or not (there were some that did not), we were 4th last to buy that day - and the price went up $1,000 the next day, and another $13,000 since then.

[smartsexystylish]

We also waited like you Babymaeby!

We got to the sales centre for 9am (Or just before) and didn't leave until 3pm I think.

We were all dazed and confused. It didn't even register to us that we just purchased a home because it was a crazy whirlwind day! We had no idea what the whole home buying process was going to be like. But we were warned to go early that day, but we didn't expect to see crowds of people. I think we were number 61 on this list too!

[BrianNSara]

So there is Condo Townhouse's? I thought they were all Freehold well i know mine is freehold...

[Danny]

I don't know about the latest townhouse sales, but I purchased mine in may as a freehold common element. So the property itself is freehold, but outside of that (the road) is comon element. There is a small maintenance fee for that (yes, I know it will go up), but its FAR less then a condo townhome inwhich the condo corp takes care of exterior property maintenance. So are the latest townhouse sales freehold OR freehold common element??

[babymaeby]

I don't know about the latest townhouse sales, but I purchased mine in may as a freehold common element. So the property itself is freehold, but outside of that (the road) is comon element. There is a small maintenance fee for that (yes, I know it will go up), but its FAR less then a condo townhome inwhich the condo corp takes care of exterior property maintenance. So are the latest townhouse sales freehold OR freehold common element??

Yes, this is what i meant by condo - common elements only. But from what i understand, the new townhouses that are now for sale are totally freehold.

[Danny]

The only townhouses that had yet to be released after my phase (according to the site plan) will be on the same street as mine. I don't think there can be both common element and completly free hold on the same street.

[ShaunnNRachel]

The towhouses in phase 4 which is seperate from the 2 "complexes" are completely freehold. We purchased ours when they released the first blocks of phase 4 in september. The new townhouse lots on michigan ave and finch cresent were originally zoned for detached lots, but with the demand for the townhouses Mattamy switched those lots. There was a zoning change request that was just in the Cambridge Times a few weeks ago regarding those lots.

[BrianNSara]

Good to know Shaunn (aka Ex neighbor). I was getting alittle bit scared there lol.

[jrb]

I am in Phase 6.....my case is similar to Danny, I bought a Southgate end in July........base price 218,990......plus i paid $2,000 for a premium lot. In my case this means there is no backyard touching mine, there is a street,....

Mine is Freehold plus a common element.....manthly fee 35.00

First question I asked when I bought was if I could fence in the sides of the backyard.......LOL......I would never have bought it otherwise.....LOL

That being said, if i ever sell [ i plan to saty the long term, as i think Millpond will be the best subdivision on Cambrideg..lol] i will match the sales price of the completely freehold.....LOL...........I dont think buyers will care if there is a minor maintance fee....LOL..........

Hopefully if we pay the 35.00 per month, we get priority for snow removal...lol

[Danny]

Thanks shaunnnrachel for the info.. I was not aware of any zoning changes, good to know such info, this forum is great.

[BrianNSara]

Mattamy (Hespeler) Limited-Michigan Avenue/Finch Crescent/Holland Circle - Mill Pond Subdivision (Ward 1)
The applicant is proposing a zoning by-law amendment for Block 5, Blocks 10 to 13 and a portion of Blocks 4 and 6 of
draft approved plan 30T-06103, being the Mattamy/Mill Pond subdivision and fronting on Finch Crescent,
Michigan Avenue and Holland Circle, to change the zoning classification
from R6 to RM4 to permit development of townhouse units.

The Blocks were initially intended to be developed with detached single
family dwellings having minimum 9.0 m frontages. Instead, the applicant is
proposing to develop these blocks with street fronting townhouse units
having a minimum 7.0 m frontages and requires an amendment to the
zoning by-law to accommodate the proposal. The number of units will
increase by 16 units but will be dispersed on three separate street frontages.

Ward No.: 1
File No.: R12/08/YR
Contact Person: Yvette Rybensky
Telephone: 519.740.4650 ext 4606
TTY: 519.623.6691 / Fax 519.740.9545

[ShaunnNRachel]

Brian you sure have no shortage of info!

I dont like the idea of a 7m frontage, i'd much rather the 9m that a detached gets.....

Did you hear about the new 34' detached models priced the same as our townhouses???

[BrianNSara]

34' detached models priced the same as our townhouses?????????

I cant find them on the website...........

[smartsexystylish]

The new 34's are not on the website yet.
I went to the sales office and picked up the pricing and floor plans for Style's friend.
The 1st one they added is just over 1000sqft and costs $214 990 - One Elevation only
The 2nd one is just over 1200sqft and for the first elevation is $229 990 and the second is $234 990
I think they are called Alcott and Albany - But I would have to look at the sheets again to be sure. If anyone wants anymore information about them, feel free to ask :)

[BrianNSara]

Brian you sure have no shortage of info!

I dont like the idea of a 7m frontage, i'd much rather the 9m that a detached gets.....

Did you hear about the new 34' detached models priced the same as our townhouses???

I would'nt trade my townhouse for one of these i like the 1509sq ft, only plus is that its detached

[BrianNSara]

I'm still wondering how big my backyard is going to be.... and the front is 7m frontage right?? unsure what this means but yah...


I hope they build a parking lot behind me that would be great lol. Because i don't see any lot's planed to be there..

[BrianNSara]

Still the same on the website i hope they go up :) now since i am a owner...


Models Available
Freehold WideLot™ Townhomes

Cyrus From: $197,990 1111 Sq.Ft. Click for Details
Dickson From: $201,990 1140 Sq.Ft. Click for Details
Ellacott From: $207,990 1277 Sq.Ft. Click for Details
Hespeler From: $209,990 1303 Sq.Ft. Click for Details
Hespeler End From: $222,990 1415 Sq.Ft. Click for Details
Southgate Corner From: $231,990 1509 Sq.Ft. Click for Details
Southgate End From: $226,990 1509 Sq.Ft. Click for Details