The Chase: a bachelor discovers that $1.2 million isn’t enough for the house of his dreams
The buyer: Bryan Ward, a 33-year-old product developer at an automotive and household goods manufacturer.
The story: After 10 years on Bayview north of Eglinton, Ward was fed up with the round-the-clock roadway din. His two-storey, 65-year-old house had also grown frumpy with age and was in need of a hefty cash injection. Ward wasn’t interested in living through a renovation, so he set a budget of $1.2 million and began his search for a modern, low-maintenance detached home. A year and a half later, the disillusioned bachelor realized that what he’d thought was a healthy budget wasn’t quite enough, and he started looking at semis. Finally, a luxuriously renovated Victorian caught his eye, and he quickly got over his fear of attachment.
Option 1
Sherwood Avenue (near Yonge and Eglinton). Listed at $1,224,000, sold for $1,212,000. Ward’s commitment to modernism was shaken by this cottagey home, with its wooden beams, hardwood floors and fireplace. Moments from bidding, his $30,ooo deposit in hand, he discovered a right-of-access issue threatened his laneway parking. The house lost its appeal.
Option 2
Spadina Avenue (near Harbord). Listed at $899,800, sold for $865,000. This ultra-modern open-concept townhouse with soaring ceilings and a private elevator seduced Ward the moment he stepped inside. Alas, the busy location was just as noisy as the Bayview house Ward was fleeing, so he decided to keep looking.
The Buy
Robert Street (near Bloor and Spadina). Listed at $1,298,800, sold for $1,235,000. “This house will be mine,” Ward thought upon walking into the 120-year-old renovated Victorian semi. He was wowed by its slick, bright kitchen (illuminated by six skylights) and reassured by the promise of easy upkeep. Sharing a wall didn’t seem so bad when everything else about the place was perfect. Ward offered $148,000 under asking. There were two other parties vying for the house, but both dropped out after the first round. It took four conditional counteroffers until the house was finally his—for $63,000 below the list price.
Caroline Aksich, a National Magazine Award recipient, is an ex-Montrealer who writes about Toronto’s ever-evolving food scene, real estate and culture for Toronto Life, Fodor’s, Designlines, Canadian Business, Glory Media and Post City. Her work ranges from features on octopus-hunting in the Adriatic to celebrity profiles.
