With a rooftop pool, this older Hamilton home was listed at $800,000 and sold for hundreds of thousands more

#GTAHomeHunt is a weekly series from the Star that gets into the details of real estate listings in Toronto and the Greater Toronto Area. Have a tip? Email us at [email protected]

List Price: $799,990

Neighborhood: Ainslie Wood—Hamilton

X-factor: This detached house an 8-minute drive to McMaster University has six bedrooms, including one in the basement, two-and-a-half bathrooms and a two-car garage. Not only does it cover 3,000 square feet, but it also has a rooftop solarium and pool that add to the many unique features of the home.

We brought in our expert, realtor Othneil Litchmoreto gain a better understanding of this property.

Why is it priced this way?

“With Timeless Custom Pieces Throughout The Home You Will Be Lost In Time,” the listing reads. “Own a Piece of History.”

The unconventional home at 3 Butty Place is a rare find, but also comes in the condition found with older homes.

For example, this home uses radiant heating instead of the more modern forced air. Air conditioning is released through a wall unit, Litchmore points out. Forced air HVAC systems became “pretty common” in homes after the 1980s, he adds, so the heating and cooling systems of this house are dating it.

Moreover, neither the kitchen nor any of the bathrooms appear to be upgraded. Throughout the house, there is a mismatch of flooring, most of it carpeted, while the entrance and the kitchen have differing tiles.

The custom-built home has certain quirks that could be considered charming for some, and overwhelming for others, Litchmore said, among them wooden panels on some walls, a large balcony that overlooks the neighbourhood, and of course, the solarium and pool on the roof.

“I don’t know if it has mass appeal,” Litchmore said, adding that someone more “artistically inclined” could want to buy it and keep it as is, but it may also be marketed towards an investor.

He added that the house’s proximity to McMaster makes him believe someone could turn it into student housing, although it only has one kitchen.

Predicting that it could sell for up to $1.2 million or $1.3 million, Litchmore says the home may be underpriced.

Of all the homes in the area with an in-ground pool and at least four bedrooms and three washrooms, the least expensive one to sell this year went for $999,000. Plus, a four-bedroom home without a pool that was more renovated than the home at 3 Butty Place sold for $1.2 million.

But buyers may not be willing to pay as much, knowing the house could use some updates and has so many features that were customized for the original owner, Litchmore says.

“Listing at $799,990 was the safest bet,” he added.

Doing so could “allow the market to bid the price up.”

And that, it did. The home sold on the offer date for $1,105,000.

Any other tips for those looking at places like this?

While there’s probably nothing quite like this house, there are many other homes that have their own unique characteristics. Look in Hamilton, Litchmore advises.

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