• Thu. Sep 28th, 2023

    Former Kleinburg Village Home Sells for $4.9 Million After Price Reduction

    BySharna Bass

    Sep 19, 2023
    Former Kleinburg Village Home Sells for $4.9 Million After Price Reduction

    This six-bedroom house in the former village of Kleinburg had numerous desirable features, such as high ceilings up to 20 feet, herringbone hardwood flooring, and fireplaces in multiple entertaining areas. However, it lacked one key item on many home buyer checklists: an in-ground pool. As a result, the sellers were forced to reduce the asking price from $5.25 million to $4,998,000.

    Situated on a 90- by 260-foot lot adjacent to the Humber River, the property also includes a five-car garage. Agent Andrew Ipekian described it as a “higher-end home in terms of price, quality, and finish.” To help potential buyers visualize the pool that was missing, the house was virtually staged with a pool in the backyard.

    Despite being on the market for five months, there were no offers initially, and even after reducing the asking price, two offers were still rejected. Finally, a fourth bid of $4.9 million was accepted. The lower number of buyers during the summer months, as well as many people being on vacation, contributed to the slower selling process.

    Despite the initial setback, the property ultimately offered significant appeal. In addition to its size of almost 9,000 square feet, it boasted a separate apartment/office above the garage with its own entrance, kitchen, bathroom, bedroom, and furnace. This feature was particularly attractive to those who work from home and wanted to separate their work clients from their family.

    Overall, patience and an understanding of the home’s value were key in securing the right buyer for this exceptional property.

    – Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty