15 Crossburn Drive Toronto

This average Toronto home is going for $4 million but there's a catch

I might have just stumbled across the strangest house sale of the year. 

15 Crossburn Dr., which currently is a very average four-bedroom bungalow, is being sold for $4,350,000

But it's not really the house in the listing photos that's being sold. In fact, you can't even buy that house if you wanted. 

15 Crossburn Drive Toronto

The foyer.

The short listing reads: "Price includes the design and construction of a new house. Architectural drawings are available."

15 Crossburn Drive Toronto

The front porch.

It goes on to say: "Buyer can choose finishes and customize the design before permits are obtained. Cost of permits is included in the purchase price. Ideal for someone looking for brand new, state of the art home built to suit your needs."

15 Crossburn Drive Toronto

The living room with a gas fireplace. 

Now, don't feel bad if that doesn't make any sense. It didn't make sense to us either, so we reached out to realtor Nona Akhavan to see what the deal was. 

15 Crossburn Drive Toronto

The yard. 

"The owner is looking for someone to invest in the construction of [a] house," she explained, going on to mention that the owner is a builder and is selling this house as a pre-construction. 

15 Crossburn Drive Toronto

The basement. 

According to Akhavan, the buyers would get to decide on the home layout, floor plan, the fixtures and everything else in the home. 

15 Crossburn Drive Toronto

The kitchen. 

And similar to other pre-construction purchases, ownership doesn't transfer until construction is complete.

15 Crossburn Drive Toronto

The open concept living and dining room. 

Akhavan explained that during the build process the current owner would still have the house under their name, pay the mortgage and property taxes, utilities, etc. 

15 Crossburn Drive Toronto

A bedroom. 

But why this is weird is because usually buying a pre-construction is when there's an entire condo building or neighbourhood being built.

15 Crossburn Drive Toronto

The family room in the basement with a fireplace. 

Furthermore, pre-constructions are usually done by good, reliable developers and there are many people that buy in at various stages. 

15 Crossburn Drive TorontoPre-construction homes are almost never just some owner who wants to build a house with someone else's money... In fact, Akhavan couldn't even tell blogTO if the owner worked for a construction company or owned one.

15 Crossburn Drive Toronto

The backyard. 

In short, all of it sounds very suspicious. 

15 Crossburn Drive Toronto

The laundry room. 

Also, no matter how many questions we asked it's still unclear how Akhavan and the owner came up with the asking price when the actual cost of construction is still unknown, and the average price for a house in that neighbourhood is just over $2.5 million.

15 Crossburn Drive Toronto

The bathroom. 

Sure, there are guidelines on generally how much it costs per square foot to build a new home in Toronto.

15 Crossburn Drive Toronto

Another view of the living room. 

But as anyone who's ever done a renovation or tried to build anything in this city knows there's always something that wasn't in the budget.  

15 Crossburn Drive Toronto

The back of the house. 

So while we're not saying buying 15 Crossburn Dr. is a bad idea, we would say get a good lawyer if you're going to buy into this pre-construction. 

Photos by

realtor.ca


Latest Videos



Latest Videos


Join the conversation Load comments

Latest in Real Estate

Virtual staging transforms this cheap $600K Toronto house into something more

Another GTA housing complex goes into receivership

Bidding wars still common in Toronto's housing market but demand is easing

Toronto's Eaton Centre complex will soon look a whole lot different

This unremarkable bungalow is $4 million because it's in a fancy Toronto neighbourhood

This run-down Toronto multiplex might still be a bargain at $3 million

Glut of homes flood the Toronto market but the problem is nobody is buying them

Toronto has a concerningly high number of condos sitting on the market