Welcome to our October 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 journey of an engaged couple climbing the property ladder from his downtown condominium (they're keeping hers as an investment property) into a freehold residence perfect for the next chapter of their lives together. Our Buyers, young professional urbanites in the creative and technology economies, set out to navigate the choppy waters of the Spring market to secure a three-bedroom home. Their journey was rife with challenges – as it unfortunately is for most Toronto real estate buyers these days – as our intrepid couple were open to considering a variety of neighbourhoods and property possibilities. Fortunately, the Urbaneer team was able to provide guidance in a comprehensive and focused survey of suitable properties as they came to market.
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 consistently endure to secure the right home, time and time again I, and the urbaneer team, see our Buyers land exactly where they were meant to be, and the outcome for these happy Buyers was no different.
Our Buyers were consistently attracted to homes which afforded a location amenable to their commutes, offered an appropriate overall size and space plan to their needs, and importantly, had a limited to-do list. Although they considered properties on the both the east side (Riverdale and Leslieville) and west side (Seaton Village west to High Park) of the central core, they had a particular fondness for High Park and its surrounding environs, both for the convenience of the Bloor Subway line and the proximity to family.
As our Buyers searched for the ideal Home, they came to recognize that the first impressions of many MLS listings – with wide-angled photographs and over-embellished copy – masked the truth that many properties were in fact in need of substantial upgrades or renovations. It's a frequent frustration for many Buyers and their realtors these days, who arrive at dwellings to discover they suffer for settlement issues (common on the west side) or discover the polished pictures on MLS don't accurately reflect the poorly executed fittings and finishes of greedy flippers.
However, during their four month search to secure the right property, our buyers competed and lost these two dwellings in bidding wars:
This house on Indian Grove, offered for $949,900, sold for $1,178,000.
This semi on Medland Crescent, offered for $899,000, sold for $1,082,604.
Fortunately, this 4-level townhouse with 2 car laneway parking – one of a collection of 12 freehold residences constructed in the late 1970s – located on Keele just north of Bloor came to market and outshone every property we had viewed to date.
We all loved this townhouse for its visually-arresting styling and its expansive thoughtful floor plan. On the first floor (at grade), a gracious foyer, powder room, laundry/utility room and former garage that had been converted into a home office with gas fireplace and walk-out to a landscaped garden (the lot was 104 feet deep) was superior to many of the basements of traditional century-old houses. Up one flight to the entertainment level, a renovated open plan kitchen connecting to an east facing deck overlooked the garden below, while the generous west-facing living/dining area featured a soaring 2-storey west facing window with vaulted ceilings. On the third level, a master bedroom sanctuary with ensuite bath and open plan den overlooking the entertainment level were well-executed and upgraded, while two well-proportioned bedrooms and a 4-piece washroom on the top floor provided ample additional living space. With over 2000 square feet of living space, significant upgrades and a lofty layout, there's no question this residence was great value, and boasted a 'Wow” factor rare to find in conventional Toronto housing.
Here are some snaps of this dwelling from MLS:
Listed at $799,900, competition was fierce for this residence. In fact, our Buyers were one of 20 bids competing to secure this townhome, which they successfully secured for 38% over the list price.
A special thanks and congratulations to our Buyers, who subsequently enlisted our services to sell his condominum, which we sold in 8 days for 99% of the list price, featured here in our blog –> Beauty Boost On Bay Street: A Style Enhancement Story.
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.
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!
~ 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
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Buy Of The Month