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The Globe and Mail

Richmond’s lowest-priced detached fetches $31,000 premium


LIST PRICE $539,000

SALE PRICE $570,000

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TAXES $2,009 (2013)


LISTING AGENT Owen Bigland/Macdonald Realty

The Action: Listing agent Owen Bigland says he marketed small freehold non-strata house as "West Richmond's lowest-priced detached home."

"It's a zero lot line property, which are quite rare these days," he says. "Back in the late seventies and early eighties, Richmond allowed some select areas to be developed as zero lot line. It allows you to build a home right up to the property line on one side of the lot to maximize the usable lot space. To many people it looks like a duplex, but it's not. It has no common walls."

More than 25 parties viewed the house in the first five days of it being listed. The owner received multiple offers and as a result it sold for more than the asking price.

What they got: The 36-year-old house is 1,400 square feet over two stories, with three bedrooms, two bathrooms and a southern-exposure backyard with patio area and hot tub.

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The lot is 3,600 square feet. The house has a new roof, new fencing and seven-year-old windows. "It's located in one of West Richmond's best neighbourhoods, called Quilchena," says Bigland.

The Agent's Take: "When larger detached homes in the neighbourhood are selling for $1.2-million and up, you can't go wrong buying a little cream puff like this," says Bigland. "It's detached. There are no strata fees. It's close to the same price that town homes are selling for." Buyers were definitely aware of the advantages to buying this type of home. This set an all time high price point for a zero lot line in this area."

The most recent zero lot line sales in the area were $470,000 and $505,000.

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