For young couples or a single professional, finding a solid starter home is tough these days.
And if your budget is in the $200,000 to $225,000 range, you're usually left with two options: a single-family home that's going to require renovations, or an apartment-style condo.
But there's also sometimes a third option -- a condominium in a home located in an established neighbourhood. And Barbara-Ann McKirdy of Realty Executives First Choice has one of those rare properties.
"This condominium represents a great opportunity for young couples or single professionals to own a home," McKirdy said.
"This unit, which is 1,090 square feet, with two bedrooms plus a den, is on the upper two levels of a 2-1/2-storey home. It feels like a home because it has its own private entrance and because of all the space and storage it features over its two levels."
The most important consideration here -- the home in which the condo is built dates back to 1910 -- is the possibility of a sudden increase in condo fees, or even a special assessment to cover upgrades to areas such as the roof, windows or home exterior.
But that scenario is extremely unlikely with the unit at 506 Dominion St. in Wolseley because a lot of renovation work has already taken place, McKirdy said.
"The home received a number of key upgrades in 2007 -- new electrical, a new roof with 50-year shingles, new double-pane, low-e argon windows and a new high-efficiency furnace and central air conditioning," she said. "There's not going to be the need for any upgrades any time soon."
The suite's key spaces were also upgraded. The eat-in kitchen was outfitted (again in 2007) with natural maple cabinets with pantry, beige tile flooring, light-brown laminate countertops, a double sink, track lighting and stainless-steel Kenmore appliances, including a bottom-loading fridge and flat-top stove. A big window on the rear wall also allows plenty of natural light inside.
"There's plenty of room for a good-sized table and the tile floor makes for a low-maintenance space," McKirdy said. "That's a bonus for couples or singles -- being able to eat in the kitchen opens up possibilities on the main floor."
At a generous 4-by-3.3-metre, the room next to the kitchen can be used for more than one purpose.
"The outgoing owners actually used it as a guest bedroom because it's a good size and has a closet. It could also be used as a dining room if you like to entertain, or even as a den or TV room," McKirdy said.
"Because it's next to the living room, there's also the possibility of knocking out the wall to make an L-shaped dining room/living room combination. You could then put a cut-out in the kitchen wall to unite it with the dining room/living room."
In the present configuration, the main level's front area is the living room, which is plenty big at five metres by 3.3 metres. Like every room in the suite, it has a large window to let in loads of natural light. Unlike the kitchen and bathroom, however, it has refinished fir hardwoods, which, along with 15-cm baseboards, adds yesteryear character to the unit.
"The layout is smart, with distinct, roomy spaces and plenty of storage," McKirdy said. "And the hardwood floors and baseboards lend character to the unit that few condominiums can match. The (refinished) clawfoot tub in the remodelled bathroom are nice touches, too."
The top floor contains a huge master suite and bedroom that has been outfitted to house a washer/dry on one side and an office/library/sitting area on the other.
"At six metres by five metres, the master suite is big and bright (with two windows), and comes with a feature that's unusual for a home this age, a large double closet," McKirdy said. "The bedroom next door adds versatility and convenience to the unit. There's also extra storage space available in the basement, and there's parking in behind the home."
And the condominium is in an ideal location, she added.
"I can't say enough about the area. To the south are walking trails down by the river. Head the other way, and you've got an amazing collection of coffee shops, restaurants and services. Best of all, you can walk anywhere through a beautiful, mature neighbourhood. You're also close to transit, as well as Polo Park and grocery stores."
Reasonable condominium fees ($230 per month), low taxes ($1,200/year after rebate) and a quiet, central location make the bright unit a viable option for couples or singles looking for a home that offers value, character and utility.
lewys@mts.net
DETAILS
LOCATION: 2-506 Dominion St., Wolseley
YEAR BUILT: 1910
STYLE: condominium
SIZE: 1,090 sq. ft.
BEDROOMS: two, plus den
BATHROOMS: 1
TAXES: $1,844.86 (Gross 2012)
CONDOMINIUM FEES: $229.83 (Includes hot water, hydro, insurance-common area, parking, water)
PRICE: $207,500
CONTACT: Barbara-Ann McKirdy, Realty Executives First Choice @ (204) 885-8999
