Sale of the Week: a $1.3-million Victorian semi is proof that holding out for a better offer can pay off

The History: Built in the 1880s, this designated heritage home was renovated roughly eight years ago. The kitchen was fitted with custom cabinetry and the third storey was transformed into an open-concept loft with modern finishes and a walkout deck.

The Fate: At least four properties on the tiny street were recently given substantial grants to restore some of their historical features, so city-sponsored renovations could be a possibility for the home’s new owners.

The Sale: The sellers didn’t originally intend to part with their home; torn between leasing the property and cashing in, they listed well above market value to see what they could get. Within two days, a potential buyer had offered to match their asking price, but the bid was rejected. Then, a second suitor offered $60,000 over asking, which the owners eventually accepted.

By the Numbers:

• $1,285,000 • 1,750 square feet above grade • 130 years old, approximately • 105 per cent of list price • 8-year-old renovations • 7 days on the market • 3+1 bedrooms • 2 bathrooms • 2 offers, one better than the other • 1 third-floor loft with deck • 0 parking