42 Fred Varley Dr., Markham
Asking price: $1,590,000 (October, 2021)
Selling price: $1,880,000 (October, 2021)
Previous selling price: $688,000 (September, 2011); $259,000 (April, 1999)
Taxes: $6,532 (2021)
Days on the market: six
Listing agent: Stephen Sun, Re/Max Realtron Realty Inc.
This updated bungalow has a busy street outside its front door, but most buyers considered that a minor nuisance as it is also within 300 metres of modern amenities and the historic attractions of Main Street Unionville. Although the first offer didn’t pan out, three more were submitted around the same time, with the winner coming in $290,000 over asking.
“I had a couple people who wanted to buy it just for the lot to rebuild, but because the house was so nicely done up, they weren’t going to pay for the house, so that’s why we got some lowball offers,” agent Stephen Sun said.
“If we held back until the offer date, we might have received six to eight offers, but my client got the price they were looking for, so they didn’t want to gamble.”
What they got
This 1960s-era bungalow was extensively renovated about 10 years ago, with more than $50,000 spent on exterior improvements, such as an interlocking stone driveway, double garage doors, a sprinkler system and landscaping of the 50-by-125-foot lot.
Indoors, more than $100,000 was spent for updated operating systems, six new kitchen appliances and built-in speakers, as well as a refinished basement with a professional home theatre, open recreation areas and a guest room.
Standout finishes include granite countertops in the kitchen and hardwood floors in the living and dining areas and all three bedrooms. The largest one also contains one of three bathrooms.
The agent’s take
“The current owner likes the neighbourhood and the convenience of walking to Main Street,” Mr. Sun said.
“For a house of this size, they were able to fit a home theatre, so it had a lot of upgrades people really wanted and enjoyed.”
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