Leslieville reno has six-figure return

By SYdnia Yu From Friday's Globe and Mail

72 Larchmount Ave., Toronto
This semi-detached, two-storey house is in Leslieville, a fast gentrifying neighbourhood that’s become much sought after. But recent renovations are what dramatically increased its property value.

“It was a complete gut and rebuild – from the bricks out – which is definitely something that’s kind of rare in neighbourhoods like that,” says agent Brennan Aguanno. “It had all the bells and whistles.”

The lack of comparable homes late fall also made this upscale residence look even better. “There was a lot of … buyers anxious to get something before Christmas,” says Mr. Aguanno. “So when something really attractive comes on the market at a good price, it creates a lot of interest.”

Listing agent: Brennan Aguanno, Sotheby’s International Realty Canada

PURCHASE PRICE: $251,500 (2002)
SOLD FOR: $632,000 (2010) The house was decluttered and professionally staged, then listed for $525,000. In six days, it brought out over 200 visitors, including four who presented “bully bids” before the offer review date and 14 who eventually engaged in a bidding war.

Read more here at the Globe and Mail