Property Overview & Appeal
This 1,120 sqft bungalow, built in 1975, sits on a notably generous 8,574 sqft lot in Meadowood. Its key appeal lies in the balance between a modest, manageable home and an expansive, private yard—a combination that is increasingly rare. While the living area is average for the neighbourhood, the property stands out for its above-average assessed value on its street and a lot size that ranks in the top 7% of Meadowood. This suggests a premium is placed on the land itself. The home would suit a buyer looking for outdoor space for gardening, recreation, or future expansion, without the upkeep of a much larger house. It's a practical choice for downsizers seeking a single-level layout with room to breathe, or for first-time buyers who value land potential over a fully renovated interior.
Frequently Asked Questions
1. Why is the assessed value relatively high compared to the home's size and age?
The assessed value ranks well above average for the immediate area, which is likely driven by the substantial lot size. In many neighbourhoods, the land component often holds or increases in value, even on older homes.
2. What does the lot size mean for potential future plans?
The nearly 8,600 sqft lot offers significant flexibility. Beyond a large garden, it could accommodate additions like a sizable garage, workshop, or sunroom, subject to local zoning and permit approvals.
3. How does the 1975 build year affect the property?
Homes from this era often have modern foundations and wiring compared to much older stock, but likely require updates to key systems like windows, insulation, or the roof. A thorough inspection is advised to prioritize any needed improvements.
4. The sold price history shows a range from 2017. How useful is that today?
While it provides a historical benchmark, market conditions have changed significantly since 2017. This data is a starting point, but a current market evaluation is essential to understand today's value.
5. The living area is described as "around average." Is the house too small?
At 1,120 sqft, it is comparable to many homes in Meadowood. This size typically accommodates two to three bedrooms and is efficient to heat and maintain, which can be a financial advantage over larger, newer builds.