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The Newcomers
A pair of University of Toronto professors (and Iowa transplants) cross the million-dollar threshold
THE BUYERS
April Franco and Matt Mitchell, who moved from Iowa City to teach at U of T’s Rotman School of Management. They spent a year renting to get the lay of the land before buying.
The price range: Around $1 million.
The criteria: It had to be in the Annex (similar to their old neighbourhood in Iowa and where their two kids were already going to school) and have at least four bedrooms and a main-floor bathroom.
The agent:
Ophira Sutton.
The search: Four houses, April through June.
Option 1: Dupont and Bathurst; four plus one
bedrooms, $889,000
Though they were attracted to the house’s location and still-fresh reno, it was too small and had no parking.
Option 2: Av and Dav; five bedrooms, $1.075 million
The size attracted them, but it was pricey for a place that needed a lot of work (the bathrooms and kitchen needed upgrading). They shifted their search toward the west Annex.
Option 3: Spadina and Dupont; five bedrooms, $899,000
While it was right across the street from leafy, kid-friendly Jean Sibelius Square, it was too small—especially the bedrooms. So they let it go.
The buy: Bathurst and Bloor;
six bedrooms, $1.3 million
When they saw this gem, they were happy to make an offer
that was more than their original limit (it was listed at $1.395). It’s detached and has three floors and a partially finished basement. “We like to entertain,” Franco says. “And there’s a large dining room, living room and kitchen. Obviously, houses are more expensive here than in Iowa, but as my six-year-old son points out, there are a lot more fun things to do.”
Photographs by Ryan Szulc
Related:
• Yorkville on a Budget: A dedicated condo dweller takes advantage of a softening market
• Gutted: Toronto’s masochistic obsession with home improvement
• Downtown for $179,000: Affordable condos are one of St. Lawrence’s biggest draws
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