Saskatoon builder looking to flip abandoned homes to first time buyers
A Saskatoon man wants to play matchmaker for the unloved homes in the city.
Andrew Hunter, the owner of Homes by Hunter is looking for boarded up homes to refurbish and flip.
“Every time I drove down this area (Caswell Hill) I realized that there were a bunch of boarded-up homes and nobody knew what to do with them. Maybe it was out of their control, out of their expertise, but it was something I knew I could tackle,” said Hunter.
Hunter works with Triple H Ventures looking for properties, mostly on the west side of Saskatoon, that are boarded up and abandoned.
“It is our mission to the community to purchase and restore each boarded up home,” said Hunter.
Hunter’s hope is that the homes become economically viable for people who wouldn’t otherwise be able to afford them. To help make it even more viable, the builders are adding basements suites to offset mortgage payments.
“We’re building in these basements suites. Some can’t even afford the bare minimum, if we add in the legal basements suites, they are able to subsidize that with the income that they get to afford the home,” said Paul Hampson CFO of Triple H Ventures.
Hampson uses a home selling for $280,000 in Caswell Hill as an example. He says the basement suite could get anywhere from $1100-$1300 and if someone was also renting the upstairs it could net almost $1400 more.
Hunter hopes this opens up opportunities for homebuyers who might not be able to afford them otherwise.
“Everything is going up and it’s hard for millennials. They are stuck in this cycle that they just can’t afford to by a home,” said Hunter.
According to the City of Saskatoon’s former director of planning Alan Wallace, there are several positives to fixing up boarded homes. For him, he says it provides housing to the market while resolving issues a boarded up home brings to a community in terms of crime and safety.
“This will be good for the supply, good for the street, good overall and so far I would applaud their efforts,” said Wallace.
Hunter and Hampson are currently working on flipping their first abandoned home while keeping their eyes on several others.
CTVNews.ca Top Stories
Canada Disability Benefit needs to be safeguarded from clawbacks, MPs unanimously agree
The federal government needs to safeguard the incoming Canada Disability Benefit from clawbacks and do more to ensure it actually meets the stated aim of lifting people living with disabilities out of poverty, MPs from all parties agree.
Security guard shot, seriously injured outside of Drake's Toronto mansion
A security guard working at Drake’s Bridle Path mansion in Toronto was seriously injured in a shooting outside the residence early Tuesday morning, police said.
King Charles too busy to see son Prince Harry during U.K. trip
Prince Harry will not be seeing his father King Charles during his current visit to Britain as the monarch will be too busy, Harry's spokesperson said on Tuesday.
opinion Tom Mulcair: Turfing Poilievre from House a clear sign of desperation by Trudeau Liberals
When Speaker Greg Fergus tossed out Pierre Poilievre from the House last week, "those of us who have experience as parliamentarians simply couldn't believe our eyes," writes former NDP leader Tom Mulcair in his column for CTVNews.ca
Apple unveils new iPad Pro with 'outrageously powerful' AI-powered chip
Apple is hoping its latest iPad lineup will breathe new life into its sluggish tablet market. In a pre-recorded live streamed event from its Cupertino, California headquarters, the company introduced the latest versions of its iPad Pro and iPad Air tablets, and an all-new Apple Pencil Pro.
Your body needs these three forms of movement every week
Movement is movement, right? Not exactly. Here’s what your body is looking for in addition to your morning walk or yoga session, according to experts.
Testifying in hush money trial, adult film actor Stormy Daniels describes first meeting Trump
Stormy Daniels took the witness stand Tuesday in the hush money trial of former U.S. president Donald Trump, prepared to testify about a sexual encounter the porn actor says she had in 2006 that resulted in her being paid off to keep silent during the presidential election 10 years later.
'It looked so legit': Ontario man pays $7,700 for luxury villa found on Booking.com, but the listing was fake
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.
Boy Scouts of America changing name for first time in 114 years, aiming for inclusivity
The Boy Scouts of America is changing its name for the first time in its 114-year history and will become Scouting America. It's a significant shift as the organization emerges from bankruptcy following a flood of sexual abuse claims and seeks to focus on inclusion.