Richmond Hill home sees big return
PREVIOUS SELLING PRICE
DAYS ON THE MARKET
37 LISTING AGENT Bill Thom, Re/Max Realtron Bill Thom Group Realty Inc.
The Action: About seven years ago, a bidding war broke out over this detached house on an 84-by-155-foot lot in the gated Richmond Hill community known as Bayview Hill, with the buyer paying $850,000. This past June, the house sold for $2.4-million – a $1.55-million return.
“The sellers spent a good $150,000 or so to improve the house, the kitchen and everything else, but that’s miniscule compared to the price difference,” agent Bill Thom said. “At one time [Bayview Hill homes] hardly appreciated, so maybe it was due for a big appreciation.” What They Got: This fourbedroom house was constructed by Wycliffe Homes in 1987 and has a Georgian-style façade and a centre-hall layout with a separate den, dining room and sunken living room.
Since 2012, oak railings and a fourth bathroom were added and the heating and cooling systems upgraded. Three existing bathrooms and an eat-in kitchen were also renovated. The Agent’s Take: “Bayview Secondary School is now ranked very highly within the school system and … a lot of Chinese buyers like to have their kids get into the IB [International Baccalaureate] program,” Mr. Thom said.
“[Plus, the home] has a very unique design with the garage tucked away at the back.”