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eastendguy 2018-06-04 10:24 AM

Commercial building in backyard... impact
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Hi, when I was looking for homes in Torleans I came across the perfect home. My realtor did advise me that value should be a lower since there is a commercial building right in the back (Goodlife fitness). I see it as a plus seeing how I won't have kids screaming and yelling Marco.... Polo in the pool all day.

As for the eyesore.. Just add a cedar. won't even see it.

Thoughts? I bought another one as most of you know, but just curious to see other peoples opinion.

suezuki650 2018-06-04 10:42 AM

The only downside I can see is that since it's commercial, you don't know what will be there in 10 years. Right now, a fitness centre is no big deal. Would you be happy with retail that was noisy or smelly?

eastendguy 2018-06-04 11:03 AM

Good points!! I had not thought of that!

hjuandok 2018-06-05 02:20 PM

At least its a new plaza. A commercial gym's location won't likely change for a long long time. Goodlife isn't going to close down. For me, I think my worry would be the access to the yard through that space. I'd probably inquire to see if they have cameras/security and install my own. Covering up the building shouldn't be very hard. I'd also want to make sure I get a great deal compared to other properties if everyone is in agreement the commercial space reduces the value.

eastendguy 2018-06-05 05:32 PM

No deal here. 20k above asking!

BrianT 2018-06-05 09:45 PM

If it's the Goodlife on Tenth Line then that whole building used to be the Canadian Tire before it moved to its current location.

eastendguy 2018-06-06 09:54 AM

it is good eye! But back to my question. Would this reduce the value in your eyes for the same property that does not have the building behind. It sold for 370k (20k above asking). 399 Oaklawn. I still want it but someone put a higher bid.

suezuki650 2018-06-06 10:39 AM

Wow, prices sure went up since I sold in 2016. I sold a 3 bedroom, 2.5 bath with above ground pool, with a much bigger backyard than that for quite a bit less, 415 Rougemount.

My new place has also gone up luckily.

good2know 2018-06-07 12:44 PM

There seems to be a lot of buyers for properties with no rear neighbors.

Nothing to be worried about imo.

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