Good looks sell a Toronto home fast – and at a premium

Published Thursday, Sep. 29, 2011

174 WESTMOUNT AVE., TORONTO

ASKING PRICE $499,900

SELLING PRICE $535,000

PREVIOUS SELLING PRICE $357,000 (2005); $160,000 (1987)

TAXES $2,575 (2010)

DAYS ON THE MARKET two

LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.

THE ACTION: This two-storey, semi-detached house in Regal Heights was closely inspected by several agents at an exclusive open house and 30 potential buyers with private appointments.

Before a public open house could be organized, a handful of bids were submitted simultaneously. The new owner made the best proposal, adding $35,100 to the asking price.

WHAT THEY GOT: This roughly 80-year-old, brick structure offers over 2,000-square feet of living space with original nine-foot ceilings and refinished hardwood floors on the main and second floors, along with new fencing, garden shed, light fixtures, fireplace mantle in the living room and a legal basement suite with one bedroom, a kitchen and rear entry.

Several mechanical units were upgraded and installed, such as alarm, central vacuum, heating, ventilation and air conditioning systems.

There are several areas to enjoy meals, including a formal dining room and an updated eat-in kitchen with tile floors and sliding doors to the deck, patio and professionally landscaped garden.

Other assets include one of two bathrooms upstairs to serve the three bedrooms, laundry facilities and a front driveway.

THE AGENT’S TAKE: “We had parking, a fully legalized basement that had retrofit compliance, a backyard, three bedrooms, living and dining rooms and nice big kitchen, so there was a lot of value there compared to a condominium,” says agent Christopher Bibby.

“[The seller] did all the things a lot of home buyers would initially be scared of, like the roof, furnace and electrical were all done.”