Welcome to urbaneer.com's June 2016 Home of the Month. This feature provides a snapshot of what urbaneer.com's Buyers have recently purchased in the City of Toronto.
This month we share the tale of a young family who navigated the choppy waters of the Spring market to secure a detached original Beach cottage. Their journey was rife with challenges – as it unfortunately is for most Toronto real estate buyers these days. As part of our 'Tales From The Real Estate Trenches' blog category, we shared their five attempts to buy houses earlier this year in a post called A Real-time Tale On The Struggle To Buy Toronto Real Estate In Spring. If you have just an inkling of a desire to better understand how the market has been oscillating as of late, this blog will take you right into the reality of downtown Toronto real estate. Get ready! It's akin to getting on a roller coaster!
Having been in the sales and marketing of real estate for 26 years now – including pioneering the Innovative Space market in the City of Toronto – for all the ups and downs and failed attempts Buyers endure to secure the right home, time and time again we see families land exactly where they were meant to be. This purchase was no different.
Our Buyers were consistently attracted to vintage houses that embraced the patina of their age. They railed against houses with 'Big Box Store' kitchens, shiny new floors, and the glossy lipstick flippers favour. Instead, it was the homes well-loved and deeply cherished by owners for many years, who kept their upgrades and renovations simple, which appealed to this couple. So when this 'cottage in the city' came to market, it was an ideal match.
Located in The Beach Triangle – where Queen East, Kingston Road and Woodbine Avenue geographically intersect as a triangle – this detached original Beach cottage dates from 1908. You see, back then this was more 'cottage country' than 'city neighbourhood'. In fact, there was a ferry from the Harbour downtown which took holiday-goers to The Beaches, where a popular amusement park called Scarboro Beach Park operated between 1907 and 1925. The park, located between Kew and Balmy beaches, was eventually demolished and subdivided into residential lots, where one of the new streets was aptly named “Scarboro Beach Boulevard”. Interestingly, this was just west of a vintage low-rise apartment located at 15 – 21 Glenfern Avenue which was constructed directly on the beach that was originally part of the Eaton’s family estate. This 20 unit building was used as a summer retreat for store managers of the Eaton's Department Store. Here's a pic:
I have a soft spot for The Beaches. I once owned an original 1901 cottage on Waverley Road back in 1987 which was a pip-squeak of a house. It remains one of my most cherished homes to date. It recently sold for land value and, unfortunately, will be torn down. Here's a pic:
The cottage our Buyers secured was significantly larger than my former wee little place. Nestled on a rare and desirable 30×144 foot lot with two car parking and yard resplendent with mature plantings, the main level comprises two bedrooms, one bath and a generous living/dining room with character fireplace graciously framed by two bay-style windows, one of which features a built-in settee just perfect for curling up with one's favourite book on a sunny afternoon. We envision this property feature will be put to very regular use by this family, especially given the Mom just happens to be a librarian! The quirky kitchen – with it's groovy collection of unfitted and fitted cabinetry – connects to the lush garden via an expansive covered rear deck – ideal for entertaining family and friends, or hosting a party for the kids, rain or shine. And there's a staircase to the attic which, while limited by the low-pitched ceilings, has its own insouciant charm any child would love – and love it they do, as the character-filled attic space even came with it's own stuffed tiger! Better still, the entire first floor has ten foot ceilings which gives it an understated yet gracious demeanor. It's a bit like stepping back in time. The property also featured a finished lower level nanny suite, complete with tidy kitchen, a full four piece bath, separate laundry area and spacious bedroom and living/dining areas. With its own separate entrance walking-out to the rear yard, the downstairs area adds tons of living, lounging or kids-play space as well as the possibility for added income in the future should need arise. And while this 'Home Sweet Home' is the perfect family abode for our Buyers, the appeal of the wide and deep lot lends itself for future development which will serve our Buyers' financial future nicely going forward.
Here are some snaps of the property from MLS:
*Images courtesy of the Multiple Listings Service
Listed for $719,000, our Buyers secured this property for about 118% of the list price. Isn't it gorgeous?!!
A special thanks and congratulations to our Buyers!
Serving first, second and multi-time buyers, young families, down-scaling Zoomers, renovators and those building their investment property portfolios, our mandate is to help our clients strategically secure the best real estate on offer, while ensuring their purchase best serves their practical needs and their dream of 'Home'. We identify a property's best qualities, features and insouciant charm in the context of the future target market while meeting your own wishes, wants and desires. And although searching for the right property can be an intense and sometimes lengthy process it is, without fail, rewarding both to our clients and the urbaneer team.
If you, or someone you love, has specific real estate needs, wishes and desires, and would enjoy the personalized service of Top Producing boutique Toronto real estate outfit who subscribe to a pressure-free approach – and a specialty in unique urban homes – please know we're here to help at urbaneer.com.
~ Steven and the urbaneer team
earn your trust, then your business
Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage – (416) 322-8000
Like what you've read? If you're house-hunting – or just curious to see where values are landing in the City of Toronto, here's Toronto’s Best Houses And Condos Of 2015 by Urbaneer which showcases 12 properties our clients purchased this past year!
Following the Toronto real estate market? Consider reading our insightful overview in Urbaneer’s Spring 2016 Toronto Real Estate Forecast: Part One and Urbaneer’s Spring 2016 Toronto Real Estate Forecast: Part Two!
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** Did you also know Steve leads a Student Mentorship and Internship Program for Canadians being educated in the field of housing? Consider visiting our sister site called Houseporn.ca
Buy Of The Month