Addison Estates

Friday, October 21, 2016

A HAMILTON 'ESTATE' of MIND

{4 QUESTIONS for JASON}

Jason Waxman, President & Executive Director of Addison Estates Inc.
Q Any projects on the go? Any details you can share?


A Addison Estates Inc. recently completed a large, full-scale renovation on Homewood Avenue. The project was unquestionably the largest one that the company has undertaken. The house was completely gutted, and re-framed in almost every area. A massive 30-foot steel beam was installed to create a fully open-concept main floor. 


Every mechanical aspect of the home was replaced including the electrical, plumbing, and HVAC systems. New windows, addition and front porch roofs and basement waterproofing were completed as well. The home featured a massive kitchen with slab granite countertops and oversized island, marble main floor fireplace, all new wide plank white oak flooring throughout, 3 all marble bathrooms, poplar woodwork, 5-panel shaker doors, black Ashfield iron hardware and crystal chandeliers in all principal rooms. 


A large, bright and open third floor loft with exposed beams and pendant lighting completed the home. It was an extremely difficult project to work on and included numerous surprises along the way. In the end, however, it was a beautiful home and I am proud of the final product we produced.  


Q Any listings currently on the market that excite you from a 'potential' point of view? OR Any that just plain excite you from a character/historic point of view? 


A Long gone are the days when beautiful century homes in need of extensive updates would sit on the market in Hamilton. This has forced Addison Estates to reinvent its business model. There is currently a stunning classic red brick home in Durand for sale. 
The property has some incredible millwork, plasterwork and architectural details. It would certainly be a showcase property to work on.    

Q What are the top things people should consider/look for when searching for a home to add value vs. forever home?


A Looking for a home is generally a completely different experience when you are looking to add value as opposed to purchasing a home to live in over a long period of time. When looking to add value, costs outweigh almost every other factor. Without buying well, the project will undoubtedly fail, irrespective of the upgrades. When buying a home for your family on the other hand, certain components may way more heavily, including architectural details, location, lot size and layout. While these items come at a cost, it can be amortized over the years you live in the home.

Q With rising prices, is Hamilton still a good market to invest in, or is the ceiling becoming much lower for this opportunity?


A It is not news to anyone that the market in Hamilton recently has been extraordinarily strong. This is unquestionably good for the city going forward. It means that the buyer base is larger and more diverse.  More importantly, people, for the first time in decades in some areas, are putting money into century homes that were previous falling apart. All that said, I believe there is still significant room for growth in Hamilton. It will remain a great investment, especially with low interest rates and continued improvement in the downtown, north and east ends.



Photos (#1-4, and #6-7) by Vogel Creative & #5 from ROYAL LePAGE

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