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Patience pays off, as house goes for $112,000 over asking Add to ...

106 Rosethorn Ave., Toronto

ASKING PRICE $419,000

SELLING PRICE $531,000

PREVIOUS SELLING PRICE $295,000 (2008)

TAXES $2,368 (2013)

DAYS ON THE MARKET Four

LISTING AGENTS Jane White and Jack Cherry, Bernice Whelan Realty Inc.

The Action: This two-storey semi-detached house north of St. Clair West benefited from its proximity to General Mercer Jr. Public School around the corner and the extensive upgrades completed by the previous owner.

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Listed in the busy March market, the sellers rejected early bully offers, choosing to allow the home to gain exposure even though there were alternatives nearby for comparison shoppers. The extra time permitted nearly four dozen buyers to inspect the house and six to assemble proposals, including one $112,000 over the asking price.

What They Got: Under the ownership of a structural engineer and designer, this roughly 50-year-old house was remodeled throughout, from new roofing, windows, doors, heating and cooling systems to a kitchen with quartz counters, stainless steel appliances and French doors to a tiered deck and fenced yard.

Some original details were retained, such as the hardwood floors in the two bedrooms upstairs and the exposed brick wall in the living area. Laundry facilities are hidden by an old door to the basement, which has separate rear entry, a tiled recreation room, kitchen and second bathroom.

At the back of the 15-by-100-foot lot is a garage accessed via a laneway.

The Agent’s Take: “Potential buyers gravitated towards the blending of new modern finishes and original features of the home, for example the exposed brick wall in the living room and original wood wall upstairs,” says agent Jane White.

“[The sellers] put in a beautiful new kitchen that’s very modern and open concept with slate floor and in the living room they put in an ensuite washer and dryer behind an ultra-cool, sliding original wooden door.”

But buyers weren’t only swayed by its style. “The owners looked to maximize every square inch for functionality to create as much living space as possible,” Ms. White notes.

“The fact that they could earn an income from the basement rental suite or convert it back to home for more space was a big plus on both sides. Also, the well-appointed storage garage could also easily be converted to single-car garage.”

Editor's note: Done Deals contain information gathered from real estate agents, home buyers, home sellers and sale prices that are publicly available from government sources. While we try to publish Done Deals as soon as possible after the transaction has occurred, long closings can cause delays.

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