39 Wychwood Ave., Toronto
Asking price: $1,419,000 (Nov. 2020)
Selling price: $1,620,000 (Nov. 2020)
Previous selling price: $242,000 (June 1998)
Taxes: $5,805 (2020)
Days on the market: two
Listing agents: Josie Stern and Valerie Benchitrit, Sutton Group-Associates Realty Inc.
Many of the homes sold late last year around the popular Wychwood Barns community space had been strategically priced below market value and succeeded in selling quickly and well over asking. This semi-detached house right across the street from the Barns sold in two days to a buyer offering a substantial bonus to the list price.
“It was priced aggressively to attract a higher offer,” said agent Valerie Benchitrit.
“In the neighbourhood … it seems to work, so we go with market psychology. If that changes,” said Ms. Benchitrit, then we’ll change our strategy.”
What they got
This roughly 90-year-old home on a 27- by 100-foot lot has undergone several makeovers, from updating the eat-in kitchen to transforming an attached garage into a family room with a bathroom and patio exit.
A third bedroom was also added upstairs, creating a total of 1,717 square feet of living space. Below the original living and dining areas, the 587-square-foot basement could be finished for extra space.
At the rear of the property, a detached garage has been converted into a 400-square-foot coach house/studio.
The agent’s take
“It’s a beautiful location across from Wychwood Barns,” said Ms. Benchitrit.
“It has something really unique: a legal studio in the garage the owners had done years ago with … high ceilings, electricity, heat, and water, so it was fully functional, which in today’s climate is a big plus.”
Furthermore, the converted family room could double as another workspace. “It is now part of the house but can be self contained by putting up drywall or a door,” said co-listing agent Josie Stern.
“So, it is perfect for a psychologist, massage therapist, etcetera.”
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.