Toronto real estate

A vacant lot in Toronto has been listed for over $5 million

Everyone knows owning a home in Toronto is hard, but having to pay over $5 million just for a place to build your home may be a bit ridiculous.

A new listing on Etobicoke's Edgehill Rd. is asking for $5.485 Million to be the proud owner of a whole bunch of trees. Being marked as a 0 bedroom, 0 bathroom property merely seems like a suggestion for those who are open to camping out in nature.

The property is surrounded by multi-million dollar estates, so anyone looking to build here will have a high standard to meet if they want to live up to expectations set by their future neighbours. 

Backing onto a ravine, the lot-size is listed at a unique 100x490 feet, suggesting the property is large enough to fit two full-sized Olympic hockey rinks.

Though a closer inspection reveals that the listed 100x490 number is merely an average as the property starts wider in the front and narrows down as it continues towards the back like a property sized pizza-slice.

Toronto real estate

Should you choose to go the route of building a home instead of setting up a Team Canada training grounds, the lot is less than a 30 minute walk away from Royal York subway station providing plenty of public transit options.

For those who think over an acre of land in the city isn't enough to play around on, Scarlett Woods golf course is another attraction that's mere minutes away.

Included in the listing is a mention of availability for architectural drawings of an 8,000+ square foot home, though for over $5 million one would hope those drawings are worthy of the AGO.

As the average price for a home in Toronto approaches $1 million, these multi-million dollar listings continue to raise that number up even higher with each passing day.

It's no wonder more and more city residents have considered moving away from this costly city.

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