Reno by professional builder attracts high bid for bungalow in Edmonton

10953 141st Street, Edmonton

Ask for a price: $549,900 (mid-October 2021)

Previous asking prices: $554,800 (beginning October 2021); $569,000 (September 2021)

Sale price: $561,000 (end October 2021)

Previous sale price: $382,500 (March 2021)

Taxes: $4,005 (2020)

Days on the market: 15

Listing Agent: Claire Packer, Re/Max Excellence

The action

The updated kitchen features quartz countertops, an island and stainless steel appliances, including a $20,000 gas range.Excellence Re/Max

Last year, this two-bedroom bungalow underwent a major renovation which the seller – a professional builder – said would generate a return north of $569,000. Within five weeks, the price was lowered twice to generate more interest. With two buyers negotiating but unwilling to pull the trigger on a written offer, a third rushed in with a formal offer slightly below the asking price, which was accepted.

“This was the highest sale per square foot in the community this year,” said agent Clare Packer.

Inside the house, the mechanics have been replaced and two bathrooms have been remodeled.Excellence Re/Max

“The price of the house was higher than any other renovated bungalow in the community, so we tested the waters and entered new territory to see if we could – with a higher level of finish – achieve a higher price .”

what they have

There are open entertaining areas on the main and lower levels.Excellence Re/Max

This 1,034 square foot bungalow is essentially brand new, starting with upgraded windows, roofing, front verandah and stamped concrete walkway.

Inside, the mechanics have been replaced, two bathrooms have been refurbished and one bedroom has been equipped with a walk-in closet and double doors opening onto a new terrace and a double garage.

There are open entertaining areas on the main and lower levels, and an updated kitchen with quartz countertops, an island, and stainless steel appliances, including a $20,000 gas range.

Officer taking

One bedroom has been equipped with a walk-in closet and double doors to a new terrace and a double garage.Excellence Re/Max

“Unlike other people who flip houses or watch a lot of HGTV, my client is actually a luxury home builder and has also worked for a luxury home builder for a long time,” Ms. Packer said.

“Thus, he had access to economies of scale, which allowed him to use much higher-end products at a reduced price.”

The 49-by-125-foot lot is also on a quiet street near many attractions, like the science museum. “It’s an up-and-coming and desirable community close to downtown and has all the amenities,” Ms. Packer said.

The 49-by-125-foot lot is also on a quiet street near many attractions, like the science museum.Excellence Re/Max

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