Townhouse are definitely needed in a city that has a housing shortage, but at the same time, it would be a such shame to lose this unique home.
The main bathroom.
This three-bedroom, two-bathroom home has a strong 1970s vibe if we’ve ever seen one.
The kitchen.
From the wood-paneled ceilings, to the retro kitchen and bathrooms, to the stone fireplace in the basement, 311 Beechgrove Drive is really something special.
One of the bedrooms with a walk-out to the balcony.
Seriously, there’s wood panelling on the ceiling in almost every room and occassionally also on the walls. Do you know how expensive that would be to do today?
The office in the basement.
“311 Beechgrove was owned by a lovely couple since the early 80s, and they raised their family there. The matriarch is in her 90s now and moved into a home closer to her kids,” Mamourian explained.
“[It’s] such a great home that’s been loved for decades. It may look a little less glam than what people are used to, but it’s been so well-maintained that, with a little cosmetic work, it is totally liveable.”
The living room.
The spaces inside the house are big, bright, and airy.
A sunroom off the primary bedroom.
There’s also plenty of charm and character.
The primary bedroom.
Turning this home into a dream mid-century dwelling would be easy, especially since the bones are in such good condition.
The rec room in the basement.
The listing also notes there have been recent upgrades to the HVAC system as well as the roofing.
The breakfast room with a built-in bookcase.
But even more special than the interior is the price, plus the land this retro gem is sitting on.
The front of the house.
311 Beechgrove Drive is listed for only $899,000 and has nearly half an acre of land.
The ravine at the back of the property.
The property is a whopping 50 feet by 236 feet and located right on the edge of a ravine, so no backyard neighbours!
An aerial view of the neighbourhood.
Additionally, the listing mentions that the lot next door is also for sale, which would double the property size if you purchased it.
“The neighbouring property is more turn-key with a recent renovation, so demolishing it would be shame. It offers a basement suite that’s currently rented for a great price and a large main floor owner’s suite with two bedrooms,” said Mamourian.
The back of the home with a walk-out basement.
The home next door is not “officially” on the market but Mamourian told blogTO that “the owner would consider a sale for the right price.”
The backyard.
So, depending on what your budget is or your plans are, this place could be the perfect canvas for your next big home reno project.
TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.
The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.
The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.
CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.
However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.
Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.
This report by The Canadian Press was first published Sept. 17,2024.
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
