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This heritage farmhouse moved to a ravine lot looks like its been there all along: Home of the Week

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ETOBICOKE

Location: 85 Yorkleigh Ave.,

The country-style kitchen is large enough for a big table and features an antique chandelier, a wood-beamed ceiling and wood-burning fireplace.
The country-style kitchen is large enough for a big table and features an antique chandelier, a wood-beamed ceiling and wood-burning fireplace.  (Royal LePage Terrequity Realty)

Royal York Rd. and Lawrence Ave. W.

Asking price: $2,650,000

Size: about 4,000 sq. ft., including finished basement

Lot: 47-by-170 feet, two-car attached garage, private drive with parking for up to eight cars

Taxes: $7,200 (2018)

Bedrooms: 3

Bathrooms: 2

This heritage, mid-1800s farmhouse known as Llewelyn Hill was originally built in Etobicoke’s Thistletown neighbourhood, in the Islington Ave. and Albion Rd. area. It was dismantled and rebuilt about seven kilometres southeast, at its current Yorkleigh address, in 1956.

The 1-1/2-storey, detached house sits on a 1-1/2 acre, landscaped and ravine lot with a 170-foot driveway. It features wood-beamed ceilings, three wood-burning fireplaces, a loft and a stone sunroom.

“The lush ravine and perennial beds ensure that our secluded property is constantly full of birds and other wildlife, no matter the season,” says homeowner Jain McMillan.

“We spend countless hours relaxing on the front porch in the summer. In the fall and winter months, we spend many evenings by the cosy fireplaces … On occasion, we enjoy cooking on the large hearth in the kitchen the way the pioneers who originally built this historic kitchen must have done,” says McMillan.

The 1-1/2-storey detached home features flagstone walkways, a covered front porch and two-car attached garage.
The 1-1/2-storey detached home features flagstone walkways, a covered front porch and two-car attached garage.  (Royal LePage Terrequity Realty)

The home is walking distance to several parks and the Humber River Recreational Trail. It is close to schools, a shopping plaza, restaurants, a grocery store, stores and businesses and the Lambton Golf and Country Club. It has easy access to Highways 401 and 400, as well as Toronto’s Pearson International Airport.

“The detailed measures taken by the owners in order to preserve the integrity of the original home are impressive, as the home maintains its charm and mystique,” says listing agent Mara Bossio.

Original, maintained features include the stone exterior, foyer, sunroom, windows, window frames, doors, trim and hardwood floors. The roof, plumbing and electrical are new.

The living room has a hardwood floor, four large windows and wood-burning fireplace in an exposed stone wall.
The living room has a hardwood floor, four large windows and wood-burning fireplace in an exposed stone wall.  (Royal LePage Terrequity Realty)

This English-style country home has flagstone walkways to two entrances, a large covered front porch and a two-car attached garage. There are many stone walkways, sitting areas, gardens, and mature trees throughout the large landscaped front lawn.

The front foyer features white, painted, wood panelling, a stone tile floor, double closet, wood beam ceiling and an antique-style chandelier.

Three steps up lead to the main living level and a living room with double, wooden entry doors beneath a transom window, a hardwood floor, wood-beamed ceiling, four large windows, and a wood-burning fireplace with a stone-wall surround and a wood-beam mantle.

The separate dining room is also spacious and is outfitted with two windows, a hardwood floor, and a wood-burning fireplace bordered by floor-to-ceiling, built-in wood cabinetry.

The all-season sunroom has a stone wall and stone floor, and two walls of windows overlooking the backyard.
The all-season sunroom has a stone wall and stone floor, and two walls of windows overlooking the backyard.  (Royal LePage Terrequity Realty)

The large country kitchen showcases a black-and-white tile floor, an antique chandelier, wainscotting, a wood-burning fireplace bordered by cabinetry, a wood-beamed ceiling, pot lights, two windows and a walkout to the front of the home.

Off the living room, the four-season sunroom features an exposed stone wall, a stone floor, a sloping glass ceiling and two walls of windows overlooking the backyard.

The master bedroom has a hardwood floor, two windows with California shutters and two double closets.

The second bedroom features a hardwood floor, two windows, and a built-in dresser between two single closets.

The master bedroom has a hardwood floor, two windows with California shutters and two double closets.
The master bedroom has a hardwood floor, two windows with California shutters and two double closets.  (Royal LePage Terrequity Realty)

A four-piece bathroom completes this floor.

Steps from the kitchen lead to the loft-level third bedroom with a vaulted ceiling, two windows, a wood floor, a closet and built-in shelves.

In the basement is a room with a herringbone-pattern, brick tile floor and a gas fireplace, a large laundry room with a ceramic-tile floor and a walkout. There is also a storage room with built-in shelves and a three-piece bathroom on this level.

The backyard features large trees, gardens and lawn space.

White painted wood panelling lines the front foyer that has a double closet and wood-beam ceiling.
White painted wood panelling lines the front foyer that has a double closet and wood-beam ceiling.  (Royal LePage Terrequity Realty)

To have a look at this property contact listing agent Mara Bossio, Royal LePage Terrequity Realty, Brokerage, 416-231-5000; www.royallepage.ca.

Home of the Week is written by freelance contributor Allison Harness, a Toronto-based real estate writer. Although we try to provide the most up-to-date information available, we cannot guarantee features as listed. Please contact the realtor. To make a submission to Home of the Week, email soldhome@rogers.com.

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‘Don’t give up’: Ottawa Valley realtors share statistics, tips for homebuyers in ‘extreme’ sellers market

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The real estate market in the Ottawa Valley can be summed up this way: people from far and wide are in a buying frenzy, but there’s hardly anything to buy at the “store,” and the limited inventory is overpriced.

This “stampede” — as one realtor described it — will affect rural towns as residents grapple with finding affordable housing and agonize over their inability to purchase homes in their price range.

“We are seeing a lack of inventory in all price ranges,” said Laura Keller, a real estate agent from Carleton Place. HomeYou’ve been selected.Only $1.49/week for your first 4 months.Special offer just for you. Unlimited access.

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10 Tips For First-Time Home Buyers

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Buying a home for the first time is exciting and a commitment to the future. It’s often challenging, too, and the process requires a lot of steps, many of which can be tricky to navigate as a first-time home buyer.

What are some things you should keep in mind as a first-time home buyer?

First-Time Home Buyer Tips

Here are 10 tips to keep in mind as you begin your journey toward homeownership.

1. Have Your Finances in Order

It’s wise to begin saving as early as possible once you’ve made the decision to purchase a house. You’ll need to consider the down payment, closing costs (which often range from 2% to 5% of the down payment), as well as move-in expenses.

You also need to understand the other costs of homeownership, such as mortgage insurance. property taxes, utilities, homeowner’s insurance, and more.

2. How Much Can You Afford?

Knowing how much you can realistically afford in a home is another important financial consideration. Look for the home of your dreams that fits your budget.

One way to avoid future financial stress is to set a price range for your home that fits your budget, and then staying within that range. Going through the preapproval process will help you understand what price range is realistic for your budget.

3. Make Sure Your Credit is Good

Another thing to keep in mind as a first-time home buyer is your credit score because it determines whether you qualify for a mortgage and affects the interest rate that lenders offer. 

You can check your credit score from the three credit bureaus – Experian, Equifax, and TransUnion.

This is another good reason for getting preapproved before you start your search. Learn more about the preapproval process and your credit score.

4. Choose The Right Real Estate Agent

A good real estate agent guides you through the process every step of the way. He or she will help you find a home that fits your needs, help you through the financial processes, and help ease any first-time buyer anxiety you may have.

Interview several agents and request references.

5. Research Mortgage Options

A variety of mortgages are available, including conventional mortgages – which are guaranteed by the government – FHA loans, USDA loans, and VA loans (for veterans).

You’ll also have options regarding the mortgage term. A 30-year fixed-rate mortgage is popular among many homebuyers and has an interest rate that doesn’t change over the course of the loan. A 15-year loan usually has a lower interest rate but monthly payments are larger.

6. Talk to Multiple Lenders

It’s worth your time to talk to several lenders and banks before you accept a mortgage offer. The more you shop around, the better deal you’re liable to get – and it may save you thousands of dollars.

7. Get Preapproved First

Getting a mortgage preapproval (in the form of a letter) before you begin hunting for homes is something else to put on your checklist. A lender’s preapproval letter states exactly how much loan money you can get.

Learn more about the preapproval process and how preapproval provides you with a significant competitive advantage in our article How Preapproval Gives You Home Buying Power.

8. Pick the Right House and Neighborhood

Make sure to weigh the pros and cons of the different types of homes based on your budget, lifestyle, etc. Would a condominium or townhome fit your needs better than a house? What type of neighborhood appeals to you?

9. List Your Needs and Must-Haves

The home you purchase should have as many of the features you prefer as possible. List your needs in order of priority; some things may be non-negotiable to you personally.

10. Hire an Inspector

Hiring an inspector is another crucial step in the home buying process. An inspector will tell you about existing or potential problems with the home, and also what’s in good order. You can learn more about home inspections and how to find a home inspector through the American Society of Home Inspectors website.

Buying a home for the first time is a challenge, but it’s one you can handle with the right planning and preparation.

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A Simplified Guide for Toronto First-Time Home Buyers

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Toronto is the largest city in Canada, the fourth largest city in North America, which makes it an exciting place to live in.

But as with other major cities, finding the perfect place to move to can get tricky. If you’re planning on buying a home for the first time in this city, it is indeed a big decision and there are things you should know in advance.

Don’t worry, this guide will help explain the basics of what you as a buyer should know when you decide to buy a home. It will make you feel like a true expert during the buying process.

Decide what type of home you are looking for

There is no right answer to what makes a good home. It all depends on your preferences and needs as the resident. It is, therefore, a good idea to determine as early as possible which features of a home are important to you. If you are buying a home and moving in with someone, it can be a good idea for both of you to make a list and compare.

Toronto is a city that offers different styles of living accommodations and its neighborhoods are quite versatile and diverse, same as the people living there who come from all parts of the world.

The most common forms of housing and real estate opportunities in this city include bungalows, two-storey houses, split-level homes, and the very popular Toronto condos. Due to the high property values, the city boasts of construction of many condominiums as they are a more cost-efficient choice and provide a plethora of benefits.

When you decide on the type of home you want to buy, it is good to do some research and learn the biggest differences between them.

What to think of when choosing homes in Toronto

There are certain things you need to consider when choosing your home in this city. 

Being close to the things you need to visit every day makes life a lot easier. Pay attention to the proximity to shops, preschools, schools, and your job. In addition, access to good public transportation is crucial. Being able to move around the city easily and the opportunity to commute is important to many.

Know that having a balcony can significantly increase the value of your home and improve your well-being. Being able to move easily in the area is something that many people underestimate, but can be very convenient, and this is why you should see if there are good cycles and walking paths. 

And finally, make sure that the house is well designed which is a quality that does not disappear with the age of the house or with renovations. 

Set your budget

Before you start the search for your new home, you must know how expensive of a home you can buy. It is preferable to know in what price range to look for. The budget is usually decided based on your mortgage and how large are the monthly costs you can handle.

A mortgage is always about a balance between risk and income for the bank. The higher the risk for the bank to lend to a particular home, the more expensive the mortgage will be. When it comes to the bank’s reasoning when applying for a loan, it is in principle always a question of whether you as a borrower will be able to repay the mortgage.

The bank also takes into account your financial history. If you are a person who has managed your finances well, the chance increases that you will get your mortgage approved. If, on the other hand, you have a bad reputation with banks, it is weighed in as an aggravating circumstance.

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