Old house offers buyers a prime reno opportunity on prestigious street

2 Vesta Dr., Richmond Hill, Ont.

Asking price: $2,080,000

Selling price: $2-million

Taxes: $11,158 (2018)

Days on the market: Four

Listing agent: Bill Thom, Re/Max Realtron Bill Thom Group Realty Inc.

The action

This spring, some agents could spend two to three months finding new owners for homes near Bayview Hill Community Centre and Pool. But when this four-bedroom house with a triple garage hit the market in early May, buyers saw it as a prime candidate for renovation and value enhancement, and an acceptable offer was secured within days.

“The basement has a walkout, which is good, but it’s not finished. But in a way, it’s good thing,” agent Bill Thom said.

“The buyers liked it because they will be renovating upstairs and the basement too, so they can finish it to look all the same.”

What they got

This roughly 30-year-old house provides more than 4,000 square feet of living space and several modern conveniences, such as a central vacuum system, main-floor laundry room and four bathrooms.

The main floor has a traditional layout with a grand foyer, den, formal living and dining rooms and a family room with a fireplace. At the rear, the eat-in kitchen has access to a deck and 71-foot-by 148-foot grounds.

The agent’s take

“All the bones – electrical and mechanical parts – were updated, so what remains to be done are cosmetics,” Mr. Thom said.

“[More importantly], it’s in the Bayview Hill area, which is a very nice community in Richmond Hill, and the lot is on a pristine and prestigious street near Old Park Lane, which is top [rated] in that area with houses going up to 10,000 square feet.”

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