Sale of the Week: a $1.3-million Victorian semi is proof that holding out for a better offer can pay off
The Property: This three-bedroom Victorian semi is located within easy walking distance of U of T, Kensington Market and Bloor Street. It has open-concept living and dining rooms, a wine cellar and original hardwood floors. A streetcar stop at the corner makes up for the lack of parking.
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:
• 1,750 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