Property Overview & Key Characteristics
This single-storey home at 14 Beaufort Crescent in Richmond West is a practical property with a strong foundation. Built in 1994, it sits on a generous 4,687 sqft lot, which is notably larger than most in the immediate area and ranks within the top 14% for lot size in the wider neighbourhood. The home itself offers 1,258 sqft of living space, an attached garage, and a basement that is present but not renovated.
Its primary appeal lies in its land value and established location. The lot size is a significant asset, offering ample outdoor space and future potential in a mature, sought-after neighbourhood. The home presents as a solid "blank canvas" – it's a structurally sound property from the 90s on a premium lot, but likely requires modernization. It would suit a buyer looking for a long-term home in a great area, who is comfortable taking on cosmetic updates or a gradual renovation over time. It’s also a sensible option for those prioritizing lot size and location over turn-key finishes, potentially offering more value per square foot of land compared to newer builds on smaller lots.
Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
It indicates the basement is developed (likely finished as living space at the time of build) but has not been updated in many years. Buyers should budget for potential updates to flooring, lighting, and possibly moisture-proofing, and are encouraged to inspect it thoroughly.
2. The assessed value seems low compared to the sale price. Why is that?
Municipal assessed value for taxation purposes often lags behind current market values, especially in active markets. It should be used as one data point, not an appraisal. The home's market value is more influenced by its large lot and neighbourhood demand.
3. How does the living area compare to nearby homes?
At 1,258 sqft, the living area is on the more compact side for the neighbourhood, ranking in the lower third locally. This highlights that the property's value is more heavily weighted toward its land rather than its current interior square footage.
4. Is the older roof or major systems a concern?
Given the home's age (32 years), key components like the roof, furnace, and windows are likely at or beyond their typical lifespan. A pre-purchase inspection is crucial to understand the condition and prioritize any major replacements.
5. What is the potential here for the future?
The large lot is the key. It offers excellent outdoor space and could, subject to local zoning, allow for future expansions like a large addition, a sunroom, or a substantial deck. It’s a property where the land itself provides long-term flexibility and value.