218 WESTWOOD AVE., TORONTO
ASKING PRICE $479,000
SELLING PRICE $492,500
TAXES $3,112 (2011)
DAYS ON THE MARKET Five
CO-OP AGENTS Anil Khera and Nutan Brown, Royal LePage West Realty Group Ltd.
The Action: As requested, agents Anil Khera and Nutan Brown presented their west-end clients with several properties in need of repair and in close proximity to transit in their neighbourhood. But their $500,000 cap didn’t help them win any bidding wars. So the agents had the first-time buyers consider East York properties like this semi-detached house, which was reduced from $525,000 to $479,000. Even offering a premium to ward off another buyer, the buyers still came in under budget.
What They Got: This roughly 80-year-old, brick house on a 20-by 136-foot lot features a fairly new front door, updated windows and stainless steel appliances, but the hardwood floors are original in the living and dining rooms and three upper bedrooms, and linoleum covers the eat-in kitchen and lower-level recreation room. Other conveniences include two full bathrooms, a legal front parking pad and detached garage.
The Agent’s Take: “Westwood is just one block north of Mortimer and that area tends to be off the radar for people looking for something in Danforth Village … because they feel it’s too far north. But if you want something affordable for first-time buyers, you’ve got to compromise a bit,” says Mr. Khera.
“You can walk to Pape station in 10 minutes … and that’s pretty good to be at Pape and Danforth in 10 minutes, which is very close to the hub of the Danforth.”
The buyers also valued the property’s potential. “It was going to need an overhaul, but … the house is very spacious for an East York semi [as] the rooms are quite nice sizes,” Mr. Khera states. “It’s got a nice deep lot and it has a separate entrance for the basement, which is finished and is a nice feature.”