Bloordale Village located within Dovercourt Wallace-Emerson Junction is one of the most quickly gentrifying neighbourhoods in Toronto. Once home to a number of pawnshops, the area now has an increasing number of art galleries, vintage clothing stores, restaurants, bars and coffee shops.
In the past five years, young families have moved in, purchasing homes in what was once considered an affordable neighbourhood. House prices have certainly risen, and housing stock is now less affordable. Selling is no longer a concern as the majority of homes get scooped up soon after hitting the market. Buying, on the other hand has become a bit more challenging.
Here are some tips for both selling and buying in Bloordale:
1. Stage your home with what you have: This isn’t Rosedale, yet. Buyers are not looking at your furniture. They’re looking for space, cleanliness, and how many renovations are required.
2. Highlight renovations: If you have done work to the home, make sure you outline that in the listing. Many older homes have knob and tube wiring, and are in need of a new roof. If you’ve removed knob and tube, and have just put on a new roof, you’ve added tremendous value.
3. Move out: If you can, move out while your house is listed; it will reduce your stress level. Buyers will book viewings throughout the day and night. It can be difficult to constantly clean and get out of the house before a potential buyers comes through.
4. Prepare for more than one offer: If your house is in good condition, it will likely attract multiple buyers. Be prepared to wade through offers on offer night.
1. Know what you want: The housing stock in Bloordale varies from detached, semi-detached to row housing. Your budget will help to dictate the type of house you can afford, as well as the condition. Don’t want for more than your budget allows. It becomes very tempting to ‘fall in love’ with a place that is out of range. Get into the market and establish equity before moving on.
2. Inspect the home: If there isn’t a home inspection, you may want to get one done prior to placing an offer. A home inspection won’t be able to tell you everything about the house, but it will give you a rough idea of its overall condition.
3. Be ready to place your best bid: Unfortunately buying a house in any neighbourhood is similar to an auction, except you many only get one chance. Place your best offer and if the selling agent comes back and asks if you can do any better, have a plan to go higher or stick to your bid. Make sure not to get caught in the moment without a plan.
Bloordale is a vibrant, community-oriented neighbourhood. It is an excellent area in which to invest. Whether buying or selling it’s an area you’ll always call home.
To view house listing in Bloordale, visit Homefinder.ca<