Friday, April 25, 2025

You can already tell from the outside its not exactly a dream home. The windows on this three-bedroom bungalow certainly need replacing, but stepping inside is like stepping back in time. From the furniture to the bathroom fixtures to the flooring, the house needs some major care before it can be called charming.

So you may be surprised to learn it was listed for $220,000 – and even with that asking price, RE/MAX sales rep Lisa Camara says it generated a lot of interest.

“We held an open house on the Sunday and we probably had over 200 people through.”

But even more shocking — within a week there were 44 offers.

“It ended up selling $63,500 over the asking price.”

There is beautiful hardwood — even if you do have to rip up the carpet to find it. And yes, window treatments and appliances are included — but it’s definitely not the kitchen that sold this home.

“You know the old saying, ‘Location! Location! Location!'”

Three houses down is Mohawk College. Buyers saw the potential of renting to students. The main floor is about 12-1300 square feet. In the basement there is roughly the same amount of living space. With some upgrades about three students could easily live down there.

And with three more renting upstairs for about $350 a bedroom there is some cash to be made. But the new owner will have to put some money back into the property first.

“You could just fix the basement, put in some new flooring, maybe change the windows… It could cost you maybe $30,000. Between 30 and 50 I’d say.”

Proving a home doesn’t have to look extravagant to be expensive.

The Realtors Association of Hamilton-Burlington says the local market is hot in early 2014 with the average price for a home going for $395,445 in January. That’s a nine per cent jump – a more than $33 thousand dollar increase — compared to the average price in January last year. There are also fewer listings.