“We sell a house, sure, that’s the product, but we also sell a lifestyle,” the duo told The Huffington Post Canada
. “The key to success is ensuring the space appeals to buyers attracted to the neighbourhood.”
The home—which goes for an asking price of $1,749,000—sits within Riverdale, where home prices have appreciated by 12 per cent over the past year mostly due to the area’s proximity to downtown Toronto and major transportation veins.
Among the renovations that the flipping duo made were a smoothly flowing indoor structure that would allow owners to enjoy an unobstructed view of both the patio and the backyard, “connecting the inside with the outside.”
Included with the makeover is a finished basement, four bedrooms, ground-floor toilets, a meeting/relaxation spot for adults, and a fenced kids’ area that would allow children to play and roam freely.
Such facilities would operate in concert with the amenities provided by the neighbourhood, according to the duo’s agent.
“There’s this incredible sense of community, and there’s so much to take advantage of,” RE/MAX Hallmark sales representative Fatima Bregman said. “[Riverdale] has everything you could want in a downtown setting.”
However, while the home enjoyed reasonably good traffic for a while, a nagging drawback—especially among would-be buyers looking at Riverdale for the first time—was the lack of space for vehicles.
“When selling a home without parking, you’ll be limited on the number of showings. Many families won’t even come out to look at the home because parking is so important,” Bregman explained.
Fortunately, Chris and Tim were able to eventually sell the home for $1,685,000—a reasonable compromise, given that most other offers have been far lower. In this property’s case, it’s situated in a neighbourhood where parking is much easier on the street, and once the lack of carpark was addressed, peddling the home proved to be a breeze.
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For partners Chris and Tim, selling a home is as much of an art as a business, especially since one has to be aware of the locality’s best characteristics and points of improvement to effectively entice interested parties to a suburban property.