The Bungalow… Dead or Alive

David Newton south east oakville real estate agent blogIn many parts of southern Ontario, homeowners have decided that their older bungalows are going to be torn down and replaced with modern new infill homes.  As a result, they tend to neglect the home and the upkeep required to market it any other way than as an infill.   This could be a big mistake!  As our population ages and remains healthier than ever before due to modern medicine and better living, the demand for down sizing still exists.  In today’s market, empty nesters are selling their larger home, taking a little money out of the housing market and are looking for homes with fewer levels and stairs to make their next 20 years a little easier.  This activity will only increase demand for those well kept bungalows and as such increase their value once again.  In today’s market, fewer developers are buying on speculation as financing becomes tighter and larger homes become less popular.  So, speak to your local sales representative about your neighbourhood’s demographics before you decide not to replace those windows or re-sand those old floors…….

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