Crown Point West semi a potential ‘stepping stone’ for young Hamilton home buyers
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Price: $379,900
Neighbourhood: Crown Point West - Hamilton Centre
Features: Located in central-east Hamilton and walking distance to Tim Hortons Field, this semi-detached home is one of the neighbourhood's cheapest properties on the market, sitting at just under $380,000. It's been listed for just a few days.
With two bedrooms and one bathroom, the home would be ideal for a older Gen Z or young millennial" that's looking to enter the housing market, said Rob Golfi, team leader at Re/Max the Golfi Team.
The home is a short walk from antique shops, cafes and restaurants on Ottawa Street North, and grocery stores on Barton Street East. It's also close to mass transit, schools and Gage Park.
It's a great area to start as a stepping stone," said Golfi. It's got everything and it's still affordable for someone to get in there."
The home itself has had a minimal facelift" with new flooring and paint as well as an updated kitchen and bathroom, said Golfi. Built in 1915, the home has approximately 870 square feet in living space and a small backyard that backs onto train tracks.
Why is it priced this way: Golfi said the average sale price of a semi-detached home in the neighbourhood is $370,000 and this property is listed just above" market pricing. The other side of the semi also recently sold for $350,000, despite needing renovations.
We figured this house was in much better shape than the house attached to it," said. It should demand more money for it."
The current owner bought the home earlier this year for $300,000 and did some cosmetic renovations - and they're now expecting the property could sell for over $400,000, he added.
Even that would still be rare," said Golfi, pointing to the Hamilton's massive shortage of homes for sale, which is driving up prices amid increased demand.
There is nothing available," said Golfi. You're going to get a lot of people, especially at this price point, jumping at it like crazy."
Fallon Hewitt is a reporter at The Spectator. fhewitt@thespec.com