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Old 2016-04-07, 08:16 AM
Zero Zero is offline
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Default South Bolton Village - Townwood Homes

I was eagerly awaiting Townwood Homes' South Bolton Village release, but now that they've announced initial pricing, I've decided not to entertain their offerings.

Perhaps their pricing is based on their proximity to Vaughan and accessible highways (not that close, actually), but the pricing is just crazy. Starting at $570k for their smallest towns and $886K for their smallest singles. Wow!
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Old 2016-04-07, 04:01 PM
Queenie Queenie is offline
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Unfortunately that seems to be the way prices are going for homes north of the GTA. We are in Beeton and houses here have gone up 100k in 4 years.
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Old 2017-01-07, 11:49 AM
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Old thread but I was also quite shocked with South Bolton Village pricing, even being a realtor! My brother and I had been waiting eagerly to buy detached homes this new development but decided against it. The units all sold since there are buyers out there but at that price, I preferred staying in Vaughan.

Even now, resale homes seem to offer better value in Bolton and surrounding area.
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Last edited by Agent Raj; 2017-01-07 at 11:54 AM. Reason: spelling error
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Old 2017-02-11, 09:10 AM
forsberg21 forsberg21 is offline
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Originally Posted by Agent Raj View Post
Old thread but I was also quite shocked with South Bolton Village pricing, even being a realtor! My brother and I had been waiting eagerly to buy detached homes this new development but decided against it. The units all sold since there are buyers out there but at that price, I preferred staying in Vaughan.

Even now, resale homes seem to offer better value in Bolton and surrounding area.
Either the houses in South Bolton were more than you can afford or you just don't understand the market. Answers like this are the reason why we chose South Bolton instead of a resale home with an agent.

My wife and I looked at resale homes for 6 months in Bolton. Houses were selling for 200K above asking prices. It got to the point that it made zero sense to buy a resale home in Bolton. The last straw was when our dream house sold for 60K less than what it costs for a Bigger New home in south bolton and I was asked to remove my home inspection clause in my offer.

Instead of 829K on a 2700sq foot home, I decided to pay 896K and get a brand new 2850 Sq foot home. I'm happy with my purchase. The equivalent home now sells for 1.1m.

Bolton has become an exclusive area. Very little development drives up prices. Its a small community, and was a best kept secret.
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Old 2017-02-11, 11:15 AM
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Either the houses in South Bolton were more than you can afford or you just don't understand the market. Answers like this are the reason why we chose South Bolton instead of a resale home with an agent.

My wife and I looked at resale homes for 6 months in Bolton. Houses were selling for 200K above asking prices. It got to the point that it made zero sense to buy a resale home in Bolton. The last straw was when our dream house sold for 60K less than what it costs for a Bigger New home in south bolton and I was asked to remove my home inspection clause in my offer.

Instead of 829K on a 2700sq foot home, I decided to pay 896K and get a brand new 2850 Sq foot home. I'm happy with my purchase. The equivalent home now sells for 1.1m.

Bolton has become an exclusive area. Very little development drives up prices. Its a small community, and was a best kept secret.
Thanks for your feedback.

First, congrats on your purchase in South Bolton.

As I wrote above, at those South Bolton prices, I was better off staying in Vaughan. It's was not intended to be a sweeping statement that applied to everyone.

At the same time, I disagree with your general sweeping statement that "houses were selling 200k above asking price" in Bolton. That may have been your experience with the home where you put an offer.

Between Jan 1 2016 - Dec 31 2016 (In Bolton):
- Buyers looking for first town-home or semi-detached home had a choice of over 75 homes in 450-650k range.

- Buyers looking for a first detached had a choice of more than 125 homes in 550 - 750k range.

To those looking for homes on a budget lower than South Bolton, there were plenty of homes to choose from in 2016, in Bolton. Now all the homes may not have had the latest updates/features of the new South Bolton however these resale homes did sell since they aligned better with these Buyers needs and budget, which would make South Bolton quite expensive in comparison.
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Last edited by Agent Raj; 2017-02-11 at 11:21 AM. Reason: additional info
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Old 2017-02-11, 11:22 AM
forsberg21 forsberg21 is offline
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Thanks for your feedback.
As I wrote above, at those new home prices, I was better off staying in Vaughan. It's was not intended to be a sweeping statement that applied to everyone.

At the same time, I disagree with your general sweeping statement that "houses were selling 200k above asking price" in Bolton. That may have been your experience with the home where you put an offer.

Between Jan 1 2016 - Dec 31 2016 (In Bolton):
- Buyers looking for first town-home or semi-detached home had a choice of over 75 homes in 450-650k range.

- Buyers looking for a first detached had a choice of more than 125 homes in 550 - 750k range.

To those looking for homes on a budget lower than South Bolton, there were plenty of homes to choose from in 2016, in Bolton. Now all the homes may not have the latest updates of the new South Bolton however these resale homes did sell since they aligned better with these Buyers needs and budget, which would make South Bolton quite expensive in comparison.
Simply not true. The houses that you describe in that price range are at best case complete Reno jobs and are 2000 sq feet or Less. I saw a house that the real estate agent listed at 2200 sq feet and then when doing the math, the house was actually 1700 sq feet. The agent was adding in the basement. Stupid people didn't do the math. That house sold for 800k. 120k above asking.

Go look today on realtor at what you can get for 750k and under. You're not getting much. Semis are listed at the high 500s and everything goes above asking.

For 550 as a detach home, your getting a barely liveable tear down.
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Old 2017-02-11, 01:17 PM
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Originally Posted by forsberg21 View Post
Simply not true. The houses that you describe in that price range are at best case complete Reno jobs and are 2000 sq feet or Less. I saw a house that the real estate agent listed at 2200 sq feet and then when doing the math, the house was actually 1700 sq feet. The agent was adding in the basement. Stupid people didn't do the math. That house sold for 800k. 120k above asking.

Go look today on realtor at what you can get for 750k and under. You're not getting much. Semis are listed at the high 500s and everything goes above asking.

For 550 as a detach home, your getting a barely liveable tear down.
I can see where you are coming from based on not so good experiences you had there with resale but 200+ people that bought resale town, semi, or detached in Bolton under 800k may have other priorities or value for their money.

In your response, again you make a sweeping statement that "houses that you describe in that price range are at best case complete Reno jobs and are 2000 sq feet or Less"...

I had looked for homes for myself upto 800k range and saw a lot that needed work but just as many that were very well maintained or updated very nicely.

There were many nice updated bungalows (for someone that prefers that) under 550k.

Of the 2-storey homes, majority were in 2000-2500 range but if you extend the search to 800k, there were homes in 2500-2800 sq ft. Not to mention much larger lots and some with attached garage (as opposed to built-in), giving a better interior layout.

We are both entitled to our opinions based on our experience or data available to us, and I will stick with mine that resale provided much better value for your money in Bolton at time of South Bolton sales. Now, even resale has gone higher.
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