Property Overview
This home at 62 Meadow Lake Drive stands out for its generous proportions and established presence in the Meadows neighbourhood. Built in 1983, its primary appeal lies not in being new, but in offering above-average space and a sizable lot that is now rare for newer developments. The 1,653 sqft living area and 6,959 sqft lot are both consistently ranked in the top tiers for the street, area, and city, indicating a property that offers more room than most. With an assessed value of $490,000, it positions itself as a premium offering in its immediate vicinity.
This property would best suit buyers looking for established character and space over a modern build. It’s ideal for a growing family that values larger indoor and outdoor areas, or for someone seeking a home with a substantial footprint relative to its neighbours. The data suggests it's a home for those who prioritize long-term value in land and size, and who are comfortable with a house that may require updates reflective of its era.
Frequently Asked Questions
How does the home’s age affect its value?
While the 1983 build date is older than the average in the Meadows area, the home’s assessed value and sold price history indicate its lot size and living area substantially boost its worth. Value here is driven more by land and square footage than by a recent build year.
Is the assessed value an accurate indicator of the likely selling price?
The assessed value of $490,000 is a strong benchmark. The home last sold between $500k-$550k in 2023, suggesting the assessed value is closely aligned with recent market activity.
What does the lot size mean for a potential buyer?
At nearly 7,000 sqft, the lot is in the top 5% on its street. This offers significant outdoor space for gardens, play, or expansion, which is a considerable advantage over newer homes on smaller lots.
How does this home compare to others on the street?
It ranks elite or above average in key metrics like lot size, living area, and value on Meadow Lake Drive. This means it is one of the larger, more valuable properties on the block.
What might be a less obvious consideration with this property?
The home is older than many in the Meadows area. This could mean greater potential for maintenance or renovation needs specific to early-80s construction, but also suggests a more mature landscape and established neighbourhood feel.