With housing prices on the rise, the merits of owning versus renting aren't as obvious as they once were.
However, if you're a family of four presently getting by in a two-bedroom apartment -- with rent in excess of $800, plus having to shell out more of your hard-earned cash for utilities -- you might want to consider a quaint two-storey home located across from a quiet park in River Park South.
Jeff Stern, realtor for RE/MAX Performance Realty, says the 1,340-square-foot home is an ideal move-up, or starter home due to several factors.
"The first thing that strikes me is that if you put the minimum five per cent down on the home, at the present low mortgage rates, you can get this home for a mortgage of around $1,000 per month plus taxes and utilities," he says. "For that, you can have a wonderful starter home that gives you equity. And there's no more paying rent."
Of course, there are several other advantages to making the transition from an apartment to a four-bedroom home, the main one having so much more space to work with.
That advantage is showcased on 37 Maitland's main level, which features a large eat-in kitchen (with plenty of cabinet and counter space) that's neatly separated from the dining room/living room by a four-foot-wide entrance and one-third wall with cutout. The result is a higher volume of natural light -- and connection to the adjacent dining room/living room area.
"This is a very well laid-out home," says Stern. "The kitchen is a real bonus -- for a home of this size, it's big, and very nicely finished. You get a beige ceramic tile floor, medium-stained oak cabinets, a cool beige ceramic backsplash, room enough for an eating area (and handy double sink) -- still with tons of room to move if you're baking or cooking dinner for family or friends."
At the same time, the open-concept dining room/living room area is large enough to accommodate a dining table for family gatherings -- with enough room left over to recline in front of a movie over dessert. With newer dark oak hardwoods, a terra cotta-coloured accent wall and -- bonus -- a door to the deck and patio out back, the area is well laid-out, and, above all, comfortable.
"Between the big, eat-in kitchen and combination living room/dining room, you're getting a lot of utility and a nice level of finishing for a starter home," he adds. "Plus, there's a large deck off the back door and a patio at ground level. The backyard is also quite large and private, so there's also room for children to play in a safe, secure area."
Upstairs is where the real surprise -- in this case a trio of very pleasant ones, in the master bedroom and two secondary bedrooms -- occurs. All three bedrooms are much larger than anticipated.
"You just have to check out the size of each bedroom, especially the two kids' bedrooms -- they're huge, so generous, and with big closets. The other thing about the kids' bedrooms is that they've been so well cared for; the walls and carpet are in such great condition. And the master bedroom is a good size, too. You can put a king-sized bed in there and still have lots of room. There's also a cheater door from the bedroom to the main (four-piece) bathroom, so it feels like you have an ensuite."
While 37 Maitland's developed lower level isn't massive -- there's probably 500 to 600 square feet of livable space -- that space is well-used. With a compact fourth bedroom (which could serve as a den), storage room, mechanical/laundry room with more storage space -- and a long rectangular rec room that could be configured in a variety of ways -- you've now got a home that comes in at more than 1,800 square feet of livable space.
Stern is quick to add there's one more bonus that comes with owning versus renting here: where the home is located.
"You not only have so much more livable space, but you're also right across from Charing Cross Park, which has a huge field, playground and daycare centre," he says. "And this is a very quiet, family-oriented neighbourhood that's close to shopping (St. Vital Centre), a host of other amenities and the Perimeter. This is definitely a great first home if you're coming out of an apartment. You not only get so much room to work with, but you get a great location -- and equity."
DETAILS
Address: 37 Maitland Dr., River Park South
Year built: 1985
Style: Two-storey
Size: 1,340 sq. ft. (not including developed lower level)
Lot size: 35' x 99'
Bedrooms: 4
Bathrooms: 1.5
Selling price: $214,900
Contact: Jeff Stern, RE/MAX Performance Realty @ 946-5333 or jeff@jeffstern.com
