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cheapest house in toronto

This is the cheapest house you can buy in Toronto right now

If you're looking to buy a house in Toronto but hoping to spend the least amount possible, this one's for you. 

A detached house in Toronto is currently listed with an asking price of $399,900 — which is the lowest asking price on the housing market right now. 

And while that may not seem like small change, the average price for a house in the GTA is $832,703, so it really is a steal. 

The house is located at 4 Lucy Ave. near Danforth and Victoria Park Ave. 

It has two bedrooms, one bathroom, one parking space, central air conditioning and a partially renovated kitchen. 

cheapest house in torontoThe basement is unfinished, and real estate agent Cheri McCann of McCann Realty Group Ltd. told The Globe and Mail the home is being sold without a home inspection. 

And while that may sound a little risky, what else can you expect for the cheapest house in the city?

cheapest house in torontoProperties similar in size to the 22 feet wide and 100 feet deep lot usually sell for closer to $550,000, so it seems unreasonable to complain.

An online listing for the property on Home Channel describes the house as "a first-time buyer's dream."

And clearly people agree, because McCann told The Globe potential buyers have flooded in since the listing was posted, and most of them are young families looking to buy a house for the first time. 

cheapest house in torontoMcCann said she listed the home under $400,000 to generate buzz, and it seems to be working. 

It's possible that buyers will tear the house down and rebuild on the land, which is also what's likely to happen to the notorious lot selling for $599,000 that contains only a small garage.

Either way, the fact that there's actually a house in Toronto selling for under $400,000 should give us all hope.

And although I'm sure it'll sell for way more than asking, for everyone's sake, let's hope the trend of low asking prices to spark chatter continues.

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Home Channel

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