By Lynda Cox
Maybe one of the main reasons you moved to Lowertown is that you don’t own and don’t plan on owning a car. Good for you! Having everything handy so that a car isn’t necessary is one of the many reasons for living in our community. But remember, not everyone will think the same way.
If the house you are living in or wanting to buy has a garage, consider yourself lucky. The value of your property is enhanced when you have one, even if it is in bad shape. If it is an eyesore, fix it or rebuild it. Do not tear it down.
Why? What’s the big deal?
In the old neighbourhoods of our city where lot sizes are not huge and bylaws and restrictions regarding land use are plentiful, you are permitted to repair old garage structures, but the construction of new garage structures is usually prohibited. Even if it’s not important to you that you have a garage, if you tear it down and one can never be built in its place, you will lose value and market appeal.
When you go to sell, anybody who tells their agent “Oh, the place just has to have a garage” won’t even know your home is available if you’ve torn yours down.
REMEMBER: Even old, crumbling garages are better than none at all. They can provide extra storage for bicycles, lawnmowers, garden tools etc., but most of all they enhance the value and saleability of your property.
Lower Town Real Estate Update from May 24 – August 29, 2019
The condo market continues to lead sales.
Condominium
Active: 31 Sold: 44
Conditionally Sold: 4
Six properties sold over list price. Highest sale over asking price: $464,000 sold for $490,000
Days on market ranged from 7 – 342 days
Residential
Active: 2 Sold: 13
Conditionally Sold: 1
Six properties sold over list price. Highest sale over asking price: $549,900 sold for $630,900 (semi-detached home)
Days on market ranged from 0 to 101 days
Lynda Cox and Jim Cox are a mother-and-son family team, the Cox Home Team, and are sales representatives with Faulkner Real Estate