Sale of the Week: the bidding war over this $900,000 west-end home shows how renovations pay off

The History: Prior to the seller, only one other set of occupants called 65 Dovercourt home. The seller lived there for two and a half years, while making $200,000 worth of structural and aesthetic renovations. The main staircase was completely relocated to create a better layout, and the second-storey floors were reinforced. The home was almost entirely gutted to install new insulation. In a nod to Queen West’s semi-industrial roots, brick walls were exposed on the main floor, in the upstairs corridor and in the master bedroom.

The Fate: The new owner is a single professional who wanted to move from suburban digs to a more central locale. Like many buyers, the buyer preferred a semi-detached home with a yard over nearby condos, with their hefty maintenance fees and paltry square footage. The upgrades will give peace of mind despite the home’s age. As other nearby homes renovate, the value of this early investment will undoubtedly shoot up.

The Sale: This was not a quick flip. The seller expected it to go above the reasonable starting price by a small margin, but not the shocking $109,100 increase—a result of three competing bids. The aesthetic and functional upgrades were a major draw. According to the agent, this marks one of the first renovations sold in the area. Its sale will set a precedent for when the street’s typically longer-term owners upgrade their venerable properties and start selling off.

By the Numbers:

• $900,189 selling price • 113 per cent of list price • 1,800 square feet • 70 viewings during its open house • 10 days on the market • 3 competing bids • 3 bedrooms • 2 bathrooms • 2 storeys • 0 bully offers