Welcome to Urbaneer.com's October 2018 Home of the Month!
This feature provides a snapshot of what my Buyers have recently purchased in the City of Toronto.
In this month's post, I share the journey of a professional couple who, at the start of their search 9 months earlier, had just conceived. By the time they secured their purchase and took possession, the most adorable newborn was ensconced in her new nursery in a spectacular lofty 4bed penthouse perch in Leslieville. Let this be an example of the common experience of many Buyers of Toronto real estate who are seeking the ideal dwelling; it can take time, but for those with patience and intent, you will ultimately be rewarded!
Although they didn't anticipate finding a condominium that truly fit the criteria of being 'house-sized', let alone one in a dynamic hip neighbourhood, this strategic property purchase appealed to my Buyers for its sun-drenched lake and city vistas, its pristine condition, its expansive square footage and its Triple AAA location. These Buyers, who started their property search in the Autumn of 2017, had a fairly broad geography in which they were willing to locate. Although they were willing to locate anywhere from Swansea / Bloor West Village / The Junction to the west, and South Riverdale / Leslieville to the east, and from Lake Ontario north to Eglinton's midtown, what was essential was their next home be within walking distance of village amenities like grocers, shops and cafes, plus a family-friendly location with lots of kids and a nearby school. With a housing budget that initially started with a ceiling $1.4m (and the possibility of stratching that only for the right place), our Buyers weren't adverse to doing improvements; they could handle renovations to the kitchen or baths, or building component upgrades, but they didn't want to have to tackle a substantial 'total gut' renovation. With a baby on the way, they didn't want to get mired in a renovation that could distract from their already engaged and soon-to-be-family lifestyle. Understandable!
My Buyers were open to both freehold houses and condominiums. They did favour one-level living, whether that be in a bungalow or a condominium, which did narrow their choices.
Here's some snaps of the houses they viewed during their search.
These properties had list prices that ranged from $900,000 to $1,298,000. One was a fixer-upper, another a mediocre flip and another near move-in ready but, by and large my Buyers felt none of these aligned with the kind of space they envisioned themselves occupying, or they required too much work to make them their own. These sold anywhere from 89 to 23 percent of their list price, were on the market for 7 to 56 days, and sold for a median price of $1,128,000.
Here's some pics of the condominiums they viewed and considered:
These properties had list prices that ranged from $887,000 to $1,689,000. Spanning the central core, including King West, St. Lawrence Market, Roncesvalles Village, Wallace Emerson an Baldwin Village. A couple were too small, where although they had three bedrooms, the Entertainment Space wasn't spacious enough. Another was a bit below grade so there was concern the slab on grade concrete floors would be freezing in the winter, and some were spacious but needed renovation as they were tired and dated. These sold anywhere from 95 to 112 percent of their list price, were on the market for 7 to 63 days, and sold for a median price of $1,198,000.
When this Showcase Loft condominum came to their attention in Leslieville, I admit I had some reservations whether it was the right fit. Quite frankly, the photos didn't truly capture the magic of the space. But the moment I crossed the threshold with my Buyers I was blown away. Having soaring twelve foot ceilings and amazing proportions, this crisp white cube - originally two suites now combined into a near 2000 square foot contemporary skylit loft with 2 terraces, 4beds, 3baths - wrapping the south-west corner of this 7 storey mid-rise - included 2 deeded parking spaces, 2 deeded lockers and 2 bike racks.
This place was kitted out with a high spec of finishes and fittings, including a dreamy gourmet kitchen with Jennair Double Wall Oven, Ge Induction Stove Top Miele Dishwasher, Ge Cafe Series Fridge, Ge Monogram Double Bar Drawers, and Ge Full Size Washer And Dryer in its own laundry room. It had quality Hunter Douglas window coverings, engineered floors and exposed brick.
I'm a fan of this complex. Developed by Aragon Properties Ltd. in the soft loft aesthetic it was completed in 2014. Containing 228 units over 7 storeys, the units range in size from 420 square feet (1 BR) to 1942 square feet (4BR + Den). The building does not have a concierge which keeps common fees more reasonable, but does have some pretty terrific ground floor amenities including a Theatre Room, Exercise Room, Party Room, Courtyard with barbecues and Guest Suite.
Here's some snaps from MLS of this 4 bedroom penthouse listing. As I mentioned previously, I don't think the photos do this space justice:
Congrats to our Buyers! Listed for $1,889,000, our Buyers secured this penthouse perch for $1,801,000!
Are you considering a real estate purchase? Here's a step by step summary of how I analyze listings of merit for my clients, including the preparation and delivery of our comprehensive due diligence packages for every property our Buyers indentify as a possibility.
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.
Are you exploring the possibility of purchasing Toronto real estate including a unique urban space like this? Here's some of my essential must-read blogs
If you, or someone you love, has specific real estate needs, wishes and desires, and would enjoy the personalized service of someone Celebrating Twenty-Five Years As A Top-Producing Toronto Realtor who subscribes to a pressure-free approach - and a specialty in unique and charming urban homes - please know my team and I are here to help!
Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage - (416) 322-8000
- we're here to earn your trust, then your business -
Keen on Toronto real estate? Here's Urbaneer’s Toronto Real Estate Forecasts!
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