Ottawa bungalow on two-acre lot raises $ 400,000 more than asking price
1910 McCord Drive, Ottawa (Kanata)
Ask for a price: $ 650,000 (April 2021)
Sale price: $ 1,050,000 (May 2021)
Previous sales prices: $ 386,214 (August 2011); $ 169,000 (1993)
Taxes: $ 4,280 (2020)
Days on the market: Five
Listing Agent: Raymond Chin, Coldwell Banker First Ottawa Realty
In a quiet suburb about a 30-minute drive from Parliament Hill, this two-acre elevated bungalow received a lot of attention when it was unveiled last spring at $ 599,900. But it was taken off the market a few weeks later as sellers struggled to find alternative accommodation.
After securing a property a year later, the sellers reintroduced the bungalow to the public. After more than 100 tours and 20 offers, the end buyer won by completing the list price with $ 400,000 for a total of $ 1.05 million.
âWe knew the demand was there, so we weren’t worried that the seller could buy their [next] house first, then put it up for sale again and sell it at a price that would make them comfortable, âsaid agent Raymond Chin.
âSometimes you can’t time the market, but this one was perfectly timed. Now we have a cooldown in the market so they have reached maximum value.
What they have
This two bedroom home is less than 30 years old, but major components have been replaced over the past decade.
The roof and the driveway leading to the double garage have been redone. Meanwhile, a new back patio, enclosed gazebo and hot tub have also been installed. Inside, the kitchen and the two bathrooms have been renovated and the septic system has been replaced.
Classic living and dining rooms, a relaxed recreation area, and two guest bedrooms in the basement have been left untouched.
The agent’s point of view
âThe property is a mid-sized ranch style home, but on two acres of land surrounded by mature trees for extra privacy,â Chin said.
âAnd it’s only a 10 minute drive to the Tanger Outlets in Kanata Centrum, which is a hub where you can shop and eat.â
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