Annex Post - - COVER STORY -

THE HGTV HOST, DANIELLE BRYK: We begged, bor­rowed, stole. We did the whole ren­o­vat­ing, flip­ping, and buying up thing. I’m at a point now when two of my kids are away at uni­ver­sity. I have this big, empty house in Toronto, and I still have a re­ally big mort­gage. I think I would tell my­self, “Stay in that first house you bought for $230,000. Make it work with design.” You could have … I could have done it. I would have been mort­gage-free. So I think that I’d tell my­self not to get wrapped up in this idea of need­ing so much and the sta­tus of all of that. THE PLAN­NER, JEN­NIFER KEESMAAT: I would ac­tu­ally say the same. I would have stayed in my first house, and my mort­gage would be paid by now. THE FI­NANCE ACE, JOE OLIVER: Yeah, but the truth is, if you look at what hap­pened with prices, you were far bet­ter off to up­grade to the max be­cause you’d end up with a higher net worth. THE AR­CHI­TECT, MARYAM MAN­SOURI HURST: I would tell my younger self, you know, if there was an op­por­tu­nity even five, 10 years ago to buy more land at $60 to $70 a build­able square foot, go for it. It felt and sounded as­tro­nom­i­cal then, but now, when you’re look­ing at land, you’re look­ing at $150 a square foot. You know, at a min­i­mum. It’s so ex­pen­sive to make sense of projects like that in to­day’s mar­ket­place. THE SALES PRO, BARRY CO­HEN: I’m telling my kids — one’s bought, and two on their way — I’m telling them to buy longterm. Don’t buy short-term. Don’t look for the flip be­cause it costs money to buy and sell. You know, land trans­fer taxes, four per cent, com­mis­sions, five per cent. Never be ag­gres­sive. Be af­ford­able. THE RE­AL­TOR, MICHAEL KALLES: I look back at an area where our head of­fice is, at Av­enue and Wil­son. I look at the lot val­ues. You know, when I first came into busi­ness, they were $230,000 for a 40foot by 130-foot lot. So from a cor­po­rate stand­point, if my son was in the busi­ness or my daugh­ters were in the busi­ness, I would have told them to trans­fer a lit­tle bit of their fo­cus from bro­ker­age to de­vel­op­ment on the in­fill hous­ing mar­ket­place.

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