9560 Markham Rd., No. 1701, Markham, Ont.
ASKING PRICE: $340,000
SELLING PRICE: $330,000
DAYS ON THE MARKET: 74
CO-OP AGENT: Ira Jelinek, Harvey Kalles Real Estate Ltd.
The Action: About a year ago, clients of agent Ira Jelinek took a break from shopping for a preconstruction condo in the Yonge and Sheppard area. But to circumvent new mortgage rules implemented for 2018, their hunt resumed in November and was redirected to a handful of suites just north of Toronto.
"[The buyer] was looking for something in Markham – a cheap and cheerful one-bedroom – and wanted to get in before the mortgage rules came into effect," Mr. Jelinek said.
"This one was in a neighbourhood they were most comfortable with because they live … just north of Markham."
What they got: This 548-square-foot suite is scheduled to be completed this summer. It has a standard floor plan with an open living and dining area and adjacent bedroom, with access to the balcony from both.
The unit will be outfitted with stainless-steel kitchen appliances, quartz counters and glass backsplashes. There will be one bathroom and ensuite laundry facilities.
A locker and parking are also included. Monthly fees of $289 will fund operation of a common car wash, access to guest suites, a terrace and fitness and party rooms.
The Agent's Take: "It's a regular size, one-bedroom that's not too small," Mr. Jelinek said.
"The building right next door is brand new – this is a continuation phase – and if you wanted to buy something new there it's about $400,000 and this one is about $330,000. So it made sense [financially] for the buyer."