East to 47A Lee

The market frenzy surrounding a Beaches gem shows how eager families are to upsize for more space.

We decided to sell our home in the Beaches and move out of the city in search of more space and to bring us closer to family. We were concerned about selling in what could potentially be a volatile year with the pandemic and winter approaching quickly. Homeowners, Lisa B. and Paul S.

The Space This 2-1/2 storey, four-bedroom house dates back to 1911 and is positioned on a deep lot with a four-tier backyard oasis.

The owners had previously invested in a stunning second and third-floor renovation to install designer bathrooms, premium fixtures, custom built-ins, a guest room with Murphy bed, smart-device lighting controls and rain-sensing skylights. The most stand-out feature was the third floor’s “Shangri-la” master bedroom. Its five-piece ensuite with a walk-out terrace earned an award from the National Kitchen and Bath Association’s Ontario Chapter. More by Design This home already had plenty of appealing attributes. But with many people starting to retreat to their homes due to COVID-19 threats, Kimberly Boot, Design & Client Care Manager at The Richards Group knew that prospective buyers were going to want as much finished living space as possible. So her design plan was to update the main floor’s kitchen and powder room and then finish the basement to create even more family space.

This renovation and staging approach created a strong emotional connection with buyers as soon as they walked through the front door, which was key to maximizing the home's selling potential overall.

Agent Sabrina Cameron

Address 47A Lee Ave.

Sale Price $1,915,000

Approx value prior to design $1,800,000

Design Budget $60K

Return $55,000 or 192%

Before

The Market The Beaches market has been exceptionally strong throughout the pandemic. With many families balancing working from home and home-schooling, the need for more space drove demand from buyers looking to upsize. Houses with backyard escapes and finished basement with family rooms have been particularly popular since they provide families with extra space to spread out.

In addition to its incredible multi-tiered backyard complete with turf and play structure, 47A Lee provided proximity to the park across the street, including tennis courts, kids playground, splash pad, outdoor skating rink, picnic areas, and basketball courts. Steps to the boardwalk and the fenced off-leash dog park, the house is in the perfect spot for accessing outdoor activities.

The Return More than ever, buyers are willing to pay a premium for move-in-ready houses. It’s critical to tie up any loose ends to make the home ready for selling to get top dollar.

The result was an incredible amount of interest in 47A Lee, with more than 60 showings in the one week of going on the market. The result was multiple offers in just six days and an exceptional sale price.