Property Overview & Appeal
This two-storey home at 27 West Lake Crescent in Waverley Heights is a well-established property built in 1978. Its key characteristic is its generous 2,221 sqft lot, which ranks in the top 1% for size within the entire neighbourhood, offering significant outdoor space potential in a mature setting. The home itself features a renovated basement and a living area of 1,152 sqft. Recent sales history shows a notable increase in value, with the property selling for $340,000 in mid-2022, a substantial jump from its previous assessed values.
The appeal lies in its location on a quiet crescent and the rare lot size for the area, providing a sense of space and privacy that is harder to find in newer subdivisions. It suits a practical buyer looking for a solid, no-frills family home in a stable neighbourhood, who values a large yard over a modern, move-in-ready interior or a garage. It may also appeal to those who see potential in the existing structure and lot, viewing it as a canvas for future renovations or additions, given the premium land size.
Frequently Asked Questions
1. How does the recent sale price compare to the city assessment?
The home sold for $340,000 in July 2022, which is significantly higher than its current assessed value of $31,600. This is common, as municipal assessments for tax purposes often lag behind actual market values and are calculated using a different methodology.
2. What does the lot size ranking actually mean for me?
Ranking in the top 1% for lot size in Waverley Heights means this property offers more outdoor space than 99% of lots in the neighbourhood. This is a standout feature for gardening, play, or expansion, especially when many newer homes are built on smaller parcels.
3. The home doesn't have a garage. Is that typical for the area?
While some homes in Waverley Heights have garages, many older properties, especially those from the 1970s, were built with driveways and carports or without. The lack of a garage is reflected in the price and presents an opportunity for a future build, subject to local bylaws.
4. The property sold twice in 2020 and 2022. Is that a concern?
The data shows a sale for $27,800 in late 2020 and then for $340,000 in mid-2022. The 2020 transaction appears to be a nominal-value transfer (such as between family members or for legal reorganization), not an arms-length market sale. The 2022 price is the relevant market indicator.
5. How does this home compare to newer builds in nearby areas like Bridgwater?
This home offers a larger lot and mature trees in an established community, but likely requires more maintenance or updates compared to a newer build. It represents a trade-off: character, space, and location stability versus modern finishes, layout, and energy efficiency. The choice depends on personal priority—land versus the building itself.