In today's balanced real estate market, a high percentage of solid, well-located homes aren't selling as quickly as many vendors might like.
The reason for that is simple: vendors often balk at the notion of updating their home in key areas. In a day and age where the preference for a move-in-ready home has -- according to a recent Century 21 buyer survey -- supplanted location at the top of the list of must-haves in a home, the result is many good homes sit on the market for 40, 50 or even 60 days.
Thankfully, some vendors have the foresight to update their home over time so only relatively minor updates are required to make it more attractive when the time comes to put it up for sale.
Thus, when Royal LePage Dynamic Real Estate's Tara Suffield arrived at 50 Mansfield Cres., a 1,315-square-foot, two-storey home found on a quiet street in River Park South, she was pleased to find the home, which was built in 1982, had already been updated in two key areas. A sunroom had been added off the dining room, and the kitchen had been redone.
Still, to make it more saleable, other updates needed to be performed.
"The flooring needed to be done and the basement needed to be developed," she said. "It had been used as storage, but had a nice room downstairs that could be finished and turned into a media room. I told the owner that renovating the home in those areas would make the home that much more attractive to buyers."
Truth be told, the home was already quite attractive. The floor plan was functional, and the sunroom had made the dining room/living room area that much more dynamic.
"I think it was a stroke of genius to add it on. It's nice to have that extra outdoor space to sit in and relax or visit with friends or family without being bothered by bugs. It also has access to the backyard patio for grilling steaks and hamburgers. It's a great spot to spend time in in the spring, summer and fall."
The kitchen was renovated in 2011. Already functional at 13.5 feet by 11.1 feet with a cut-out wall that opened it up to the living room, it simply need an infusion of style. Suffield said the renovation took it to the next level.
"It transformed it into a truly contemporary space. With its walnut veneer cabinets, (taupe) glass tile backsplash, (laminate) taupe/bronze vinyl countertops and faux tile (taupe) vinyl floor, there's also a pantry to the right of the fridge, an already bright, functional eat-in kitchen was made that much better. The update gave it just the dash of style it needed."
The dining room has recently been updated with new flooring.
"The new dark (maple) hardwoods look absolutely gorgeous, and finish off a functional area perfectly, as they run from the dining room right into the living room. The dining room can hold a table for six to eight with ease, and there's plenty of room in the living room for furniture. It's a perfect area for entertaining," Suffield said.
Take a trek up the staircase that leads to the home's upper level, and you find an area where the available space has been used to maximum effect.
A compact landing provides sufficient room to move and maximizes space in the three bedrooms. Both kids' bedrooms are large (11.7 feet by 10.7 feet and 11.75 feet by 11.42 feet, respectively), while the master suite, which features a pocket door that links it with the main bath, creating a cheater ensuite, is also plenty big at 13.6 feet by 11 feet. It also contains a jetted soaker tub set in tan/bronze tile and newer flooring.
"Not only is the area functional, but the main bath is contemporary, plus the flooring has been updated. New (light taupe) carpeting was installed in 2015," Suffield said. "There's also loads of storage space in each room."
The home's updates don't end there. Head downstairs, and you find a good-sized rec room that adds considerable space to the home, taking it's livability quotient up another notch.
"It's a dream down there now. The lower level was previously used just for storage," Suffield said. "Now, you have an office/media room area with new carpet and paint that adds another dimension of livability to the home."
A trio of other updates also serve to make the home truly move-in ready: a high-efficiency furnace and hot water tank were installed in 2009, and the roof shingles were replaced in 2014.
"I think it's fair to say the home is move-in ready," she said. "The outgoing owner did a great job of addressing its shortcomings over the years. The result is a home that's very contemporary, beautifully updated and ready for a family to enjoy in a great location that's close to schools, shopping and a host of services in the city's south end."
lewys@mts.net
