What a deal! Toronto’s cheapest home – a caboose – sells for $45k in April
BNN Bloomberg
There was one home sold in the Toronto area last month that bucked conditions in the city’s ultra-hot housing market.
There was one home sold in the Toronto area last month that bucked conditions in the city’s ultra-hot housing market.
April sales data from the Toronto Regional Real Estate Board (TRREB) showed that one detached home sold for less than $100,000, an outlier at a time when the average price for that type of property climbed nearly 18 per cent to $1.63 million from a year earlier.
That home? A renovated caboose on the outskirts of Milton, Ont.
The three-room century-old structure was sold last month for $45,000 – the same price it was listed at, according to TRREB sales information.
The historic caboose – which mostly resembles a wooden shack – was fully restored in 2009 with new windows, a re-shingled roof, and fresh insulation. Some of the home’s other amenities include an updated built-in stereo system, leather benches, and pot lights. While it has a bar fridge and sink, the building itself isn’t connected to water or sewage lines, making future habitation a bit tricky.
