Look Behind The Stats - Housing Market Not Dead
There’s lots of activity in “Alternative Housing” hiding behind the dismal spring market housing market stats in the GTA.
Greenbilt Homes is talking to many residents who are working on creative solutions to meet their housing needs. Our company is getting weekly inquiries from interested residents about the possibility of accommodating:
·????? multigenerational families
·????? condo and rental units
·????? seniors’ micro-co-ops
·????? ‘house hacking”
in a FlexPlex?.
FlexPlex is Greenbilt’s flexible home that transforms quickly and easily from fourplex-triplex-duplex to a single-family home.?
The FlexPlex is an important step forward in "Alts" housing and has earned Greenbilt a Finalist nomination for the Angelo DelZotto Fearless Innovator Award. The winner will be announced during the BILD Awards Gala May 30th in Toronto.
“The market isn’t dead, it’s just shifting in reaction to the sky-high prices of traditional housing,” said Greenbilt Homes President Mike Manning.
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“When new Toronto condos are listed for more than $1,500 per square foot and the average resale price of a single detached home in Toronto is more than $1.7 million, people get disenchanted with traditional housing models.”
A comparable price for the FlexPlex concept home is $600 per square foot, said Manning. "It's easy to explain how that's a much better value than traditional housing when people see the FlexPlex and crunch the numbers," he said.
Greenbilt’s experience lines up with a major survey of homeownership intentions by ReMax that found 50 percent of Canadians would consider alternative methods of buying a home, and 32 percent are exploring non-traditional home ownership options.
Greenbilt participated in a housing information session on Condoization vs. Co-ownership May 21 organized by GoCo Solutions . The standing-room crowd heard how architect Dean Goodman recently completed a condo-titled fourplex in Toronto.
In addition to fourplexes, housing “Alts” that are gaining traction include garden suites, laneway homes, and additional rental suites in existing residences. The number of permit applications for garden suites in Toronto jumped by almost 250% in 2023. Discussions within the building industry suggest that this number will climb again in 2024.
“As people open up to housing alternatives, I think it will be an important part of the affordability solution,” said Manning.
#affordablehousing #gtahomes #housingsolutions
I help leaders connect to their inner peace and joy by transforming fear into ‘A Call for Love’ ?? Podcast Host | Expand Your Path To Peace: Meditation Training l Reiki Certification
9 个月We live in a traditional one family home dwelling, and it is way too large for our small family and expensive to upkeep. I feel like it’s unutilized space and I know most family members who could use a place to live but want independent living space. I wish our home was built more “flexible” so that it could be adjusted into multilevel living like the FlexPlex which I think is brilliant, sustainable and the way of the future.
RealAlts Global Real Assets Investment Consulting Specializing in Sustainability
9 个月People always look for substitutes whenever incomes are out of line with needs. It's time for prospective homeowners to consider alternatives to the status quo. ??