“Meh”

Are you familiar with this term?  This annoying catch-phrase that people use both in speech and in text?

Well I’ve never been a fan of the term, but if you were to ask me what I think about 34 Sherbourne Street, I couldn’t think of a better response than “Meh”….

I’m starting to look at things more comparatively lately.  That is to say that I’m not only thinking about price of Toronto real estate in a Toronto context, but also how it compares to that of real estate in Calgary, New York, or Brussels.

$3,000,000 is a lot of money in the Toronto real estate market, however it might be considered “par-for-the-course” in other metropolitan areas around the world.

While there may be exceptions to the rule, you’d usually only find houses of this stature in Lawrence Park, Bridal Path & Post Road, or in Rosedale.  In fact, Rosedale is one area of the city where you might use the term “par-for-the-course” for a $3,000,000 house…

Rosedale is the most exclusive, most expensive, most well known pocket of real estate in Toronto.  When you hear the term “old money,” you usually associate that with Rosedale.

The neighborhood actually pre-dates Canada’s Confederation as it was first settled in the 1820’s by Sheriff William Jarvis, whose name obviously remained associated with the area in the form of Jarvis Street.

The most distinct feature of Rosedale is the abundance of nature and greenery that engulfs the area, as ravines and parkland seem to back on to every property.  The lots are all well above average in size, and these huge pieces of land that are surrounded by nature enable the home owners to forget that they are actually as close to the downtown core as one can possibly get.  But this is also why the area is so popular!  Not only do you feel like you live in the country, but your commute to downtown is about two minutes!

Rarely do you see a “new construction” home in Rosedale, as there are many restrictions and historical designations in place that prohibit builders or end users from significantly altering existing houses, or simply tearing them down and putting up houses that would look out of place.  The goal is to keep the uniform, vintage look to the neighborhood, and those in charge have succeeded.

34 Sherbourne Street North, priced at $3,350,000, is a 3-storey house with 5-bedrooms, and 5-bathrooms, on a sprawling 84 x 228 foot lot that faces west.  The house is over 5,000 square feet, yet amazingly the basement remains unfinished!

The house itself is over 100 years old, and is considered “authentic” in that the original features of the house still remain, such as the high ceilings, stained & leaded glass windows, original oak staircases, gumwood trim, and French doors.  This could be considered a pro or a con, depending on how you look at it, as the mechanicals of the house have yet to be modernized.  Hot-water radiators remain in place, rather than the traditional forced-air ducts, and there is no central-air conditioning.  There is also old knob & tube wiring, and the age of the house may present other undiagnosed problems.

The location of this house simply cannot be beat, as this is considered the very “heart” of Rosedale.  The lot is magnificent, and the backyard could play host to an NFL football game, if one were so inclined.

So…..why did I use the term “Meh” to describe how I felt about this house?

Well, for lack of a better explanation, this house “just doesn’t do it for me.”

Three million bucks is a lot of money.  And you’re basically buying location.  Now, the old adage, “location, location, location,” must be considered, but I just don’t see the value.

Look at the photo of the kitchen, for example.  Does that look like a three-million-dollar kitchen to you?  No, it doesn’t.  It’s tiny, it’s old, and it doesn’t have the open-concept that people are looking for these days.  This kitchen would suit Mabel and John Smith back in 1912 when the butlers served the family in the formal dining area, and the kitchen was closed off and out of sight.  But these days, the kitchen is the number one area of the house to entertain, and should be adjoined with the rest of the main floor living space!

The house also lacks any sort of flow.  On the main floor alone, you’ve got the living, dining, kitchen, breakfast, library, sunroom, and sitting room.  You have SEVEN separate rooms, all closed off from eachother.  Again, this is how OLD houses were built!  This is not modern at all, and it would cost a fortune renovate and modernize.

Finally, the 3rd floor has two bedrooms, a kitchenette, and a room currently being used as an exercise room.  So basically, this house is almost a duplex, and would take work to convert it back to single-family-dwelling.

Perhaps my argument is flawed because I can’t currently, and probably will never be able to afford this house, so what right to I have to bash it?

I’m just saying that just because you have money, doesn’t mean you have to live with the old money.  Old money houses in old money areas are…..OLD!  Styles, customs, and necessities change over time, so who wants to live in a house that was built to suit people in pre-WW1?

I guess what I’m saying is that if I had $3,350,000, I would rather buy myself a “modest” (by comparison) house in North Toronto for $1,700,000, that is also 5000+ square feet with 5-bedrooms, and save the remaining $1,700,000 to purchase a cottage up north, a small ski lodge in Idaho, ten acres of land in Warkworth, Ontario, and save the rest for the proverbial rainy day.

Rosedale truly is a one-of-a-kind area, but I think the “old” concept has been taken way too far.

But what do I know.

I’m only 27 years old…

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