Oakville has seen many mansion sales in the years since it became such a desirable place to live, being one of the most exclusive towns of the Greater Toronto Area. It is a wonderful town to call home, but there’s no doubt that your dollar doesn't stretch as far in Oakville when it comes to real estate. However, if you can afford a home that costs over a million dollars you've come to the right place, and if you can afford a home in the tens of millions you've also come to the right place!
Admittedly, since the credit crunch there haven’t been as many mansion sales in Oakville. The fact is that buyers just don’t have such high budgets and with the real estate industry in a state of flux right now it’s homes at the higher end of the scale – the luxurious mansions, and lakefront estates – that aren't selling as well. Even so, there are usually at least several hundred homes listed for sale with a price tag of $1 million + in Oakville at any one time, but how much do you have to pay for a genuine mansion?
What is a Mansion?
Well, the most basic definition of a mansion is a large dwelling house and in England and Europe they've been building such homes for many centuries. From the 19th century onward, these luxuriously large homes were also constructed in Canada and the United States, built for some of the wealthiest families and government officials. Often they were styled on English and European architecture and if you look at mansion sales in Oakville you’ll see that some of the mansions are still constructed in those architectural styles today: Tudor and French Chateau style to name just two.
Occasionally some of the older mansions in Oakville, dating from the 1920s and 1930s, are listed for sale. These offer quite a different charm to the newer build estate homes, but it’s safe to say that living in a historic home isn't for everyone!
Mansions on the Waterfront
Buying a mansion in one of Oakville’s exclusive neighbourhoods will cost you at least a million dollars, but if you add in a waterfront location the sky’s the limit! You may be surprised to hear that there are actually only just over 120 private residences along the shores of Lake Ontario in Oakville, so demand for lakefront estates is always going to be high with such a small proportion of homes in the town benefiting from a lakeside location. And where demand is high the price can be high too. Waterfront homes can start in the region of a million dollars but if you look at mansion sales on the waterfront these will always be at a far higher price. Not only does the large lot cost more, but obviously an expansive home with thousands of square feet of living space costs more too.
Recent listings include a lakefront estate that was built in the 1930s and set on almost 8 acres of land. It has over 750 feet of lakefront and a private harbour and dock. It’s currently listed for around $11 million.
Mansion sales can take a lot longer than a regular family home and if you have a mansion to sell it’s important that you use the professional services of a real estate agent to assist with price point and the high level of marketing that’s expected with such an exclusive property.
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