Ottawa bungalow on two-acre lot raises $ 400,000 more than asking price

0


Coldwell Banker First Ottawa Realty

1910 McCord Drive, Ottawa (Kanata)

Ask for a price: $ 650,000 (April 2021)

Sale price: $ 1,050,000 (May 2021)

The story continues under the ad

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

The action

The house sits on a two acre lot in a quiet suburb about a 30 minute drive from Parliament Hill.

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.

“We 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, ”said agent Raymond Chin.

The story continues under the ad

“Sometimes 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

The main components of the house have been replaced over the past decade.

Coldwell Banker First Ottawa Realty

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

“The property is a mid-sized ranch style home, but on two acres of land surrounded by mature trees for extra privacy,” Chin said.

“And it’s only a 10 minute drive to the Tanger Outlets in Kanata Centrum, which is a hub where you can shop and eat.”

The story continues under the ad

Your home is your most precious possession. We have a weekly real estate newsletter to help you stay on top of housing market news, mortgages, the latest closings and more. register today.


Leave A Reply

Your email address will not be published.