Originally Posted by Nataku
I see where you're coming from. I wouldn't give a rats ass if I saw a regular house being torn down unless it was historic in some nature. I was mainly commenting with the mindset oif I were in that situation and my parents sold our house to be torn down. My family house is a dime-a-dozen mid 80's 3 bedroom. Moved into it brand new when I was 3 so I've lived there pretty much my entire life. Still, if I saw someone bulldozing it into the ground, I'd be pretty sad. All the memories and good times growing up. Who knows though, maybe I'm the only one sentimental about that kinda thing....
We've lived there for about 15 years. Parents moved into the area because it has an awesome school 4 blocks away, which also means that most families with kids my age have moved out of the 'hood and made room for young families. House is awesome: 1910 build, ~3500 sq.ft., 4 bedroom, 3 stories + basement, and we've renovated it heavily.
Parents had thought about selling for a while because with us kids off at university/moving into our own places afterwards. It's a biggish house with lots of maintenance and they'd prefer being further downtown.
Our neighbour sold their house for $4.5 mill (about 200% of what other houses in the area were selling for), and the buyer spent 3 years gutting it and redoing the entire property. It was ridiculous, they even ripped out the 5 year old stone swimming pool in order to reshape it because the designer told the owners the shape didn't fit properly with the shape of the house.
Anyways, to make a long story short, this said neighbour, whom has already put ~$2.5 million in renovations into their home, offered my folks a price they couldn't refuse. Of course we'd be happier selling it to a young family who would love and enjoy the house as much as us, but receiving 25% over the asking price really encouraged them to sell. We had a real estate photographer come in and make a photobook for us to remember the house by. I just feel bad for the rest of the people on our street who will have to put up with another couple of years of construction...
next house i'm looking at to move in with my brothers: http://www.realtor.ca/propertyDetails.aspx?propertyId=11007096&PidKey=-182389929
or this serves as a nice goal for after renovations, seems more worth it to buy a place like this http://www.realtor.ca/propertyDetails.aspx?propertyId=11007552&PidKey=13904168
and have $200k to renovate.