Young families looking to move on up often face a dilemma: Do they buy a new home or one that's a few decade old?
Buy new in a community such as Bridgwater Forest or South Pointe, means paying the added expenses that come with buying a $350,000-plus home -- a larger mortgage and higher property taxes. Oh, and if the basement is unfinished, you'll have to shell out $30,000 to finish it.
Granted, it's exciting to own a spanking-new home -- but is the high debt load worth it?
Clearly, it's a balancing act. However, when a renovated 1,400-square-foot home in an established, relatively central neighbourhood (with very reasonable taxes) comes available, it shouldn't be overlooked.
That's the case with 380 Elmhurst Road, a one-and-a-half storey home built in 1951. While it isn't in River Heights, it's only 10 to 12 minutes away from downtown. It's close to shopping on Grant Avenue and to Moray Avenue, which can be accessed via the former Charleswood (now William R. Clement) Parkway.
The home itself is reminiscent of many of the character homes found in River Heights, says Kim McConnell of Century 21 Advanced Realty.
"To start things off, there's a large living room/dining room with coved ceilings (with crown moulding), hardwood oak flooring, and tri-pane windows that were installed in 2010," she says.
"It's a nice bright, open area that's quite contemporary."
As is the case with many homes designed in the 1950s, the kitchen has been placed at the rear of the home off the dining room. Although the home has been renovated in several areas, it's only partially done.
"There are new cherry-stained hardwoods and the walls have been repainted in a nice neutral earth tone colour," McConnell says.
"The cabinets are original, as are the countertops. For now, they're fine. When it came time to replace them, it wouldn't be that costly as there isn't that much to replace in terms of cabinetry or countertops."
A new hallway entrance was created to better link the kitchen to the bedroom wing and stairway to the upper level. Two good-sized bedrooms and a four-piece bathroom are down the hallway.
"The layout is what makes this a good family home," she said. "The kids could use the two bedrooms and the bathroom (which has been positioned between the two rooms) in their own private wing."
Meanwhile, a new master bedroom awaits upstairs.
"It's a huge, loft-style area with a spacious bedroom (with pine accents and laminate flooring) that opens onto a big ensuite area with two big windows and a deep soaker tub -- it's like a spa," McConnell says.
"There's also a room off the bedroom that could serve as a nursery, office or exercise room. It's a private, relaxing space that parents can make their own little getaway."
A ton of work was done downstairs, she adds. "The basement has been fully reinsulated with spray foam and the newer rec room features an insulated floor (with durable, low-maintenance marmoleum covering), tray ceilings with pot lights, large bar and a built-in entertainment unit. "There's also a new energy-efficient boiler that provides hot-water heat, a large laundry area and lots of storage in a pair of undeveloped spaces."
Other features include a large maintenance-free backyard with three newer decks (one covered), a patio, fire pit and new fence. There's also an attached double garage and newer 200 amp electrical service.
"This is an affordable home -- in a good location, with low taxes and a number of upgrades -- that would work well for a young family," McConnell adds.
"It's a good, solid renovated home with potential. Of course, we're not experts, so we always recommend that you get a home inspector to go through it if you're thinking of buying it. That's the best way to ensure your investment is a sound one."
lewys@mts.net
DETAILS
Location: 380 Elmhurst Road, Charleswood
Size: 1,400 sq. ft.
Year Built: 1951
Style: One-and-a-half storey
Lot Size: 75' x 115'
Bedrooms: 3
Bathrooms: 2
Taxes: $2,458.81 (Gross 2010)
Price: $279,900
Contact: Geoff/Regan Archambault or Kim McConnell, Century 21 Advanced Realty @ 925-7999
