The townhouse that’s more like a detached home

Timberwood Village
94, 6880 Lucas Road, Richmond, BC

MLS: V1037991
List Price:
 $529,000
Floor Area: 1556
Unit: 3 bed/2.5 bath
Condo Fees: $290.49
Taxes: $1902

From the inside, you would never guess that this detached townhouse was 36-years-old.  With beautiful updates through out the home, you will see granite counter tops, stainless steel appliances, new flooring, tile, crown moulding, paint and more.  The kitchen is open to the living and dining rooms, while the living room has vaulted ceilings open to the upstairs den.

There is a patio off from the kitchen with a spacious path to the back yard, while the living room also provides direct access to the yard.

The three bedrooms upstairs are all average to larger in size and are nicely separated from one another.  There is ample closet and storage space; the master room has side-by-side closets, one of the spare rooms has a large adjoining storage room, there is a large attic, linen closet, coat closest, space within the washer and dryer area and a storage room in the garage.

The price has dropped from $538,000 to $529,000, with a motivated seller.

PROS

  • Amenities nearby (shopping, schools, parks)
  • Rooms are average to large in size
  • Fully updated with new kitchen, bathrooms, floors, crown moulding, fireplace  and more
  • In-house storage, attic and garage
  • 1/2 bath on main floor, 2 full bathrooms upstairs
  • Visitor parking near by
  • New steam washer and dryer
  • Complex has outdoor pool

CONS

  • Maintenance fees are on the high side, but it is an older complex and there is access to a pool
  • Kitchens is nice and open, but fridge is in an unusual spot
  • The outside aesthetics of the complex are not as pleasing to the eye as other developments, but work is being done to upgrade by strata
  • Kitchen patio will eventually require some work

MORTGAGE DETAILS

Purchase Price: $529,000

High Ratio Loan (less than 20% down payment)
Interest Rate: 3.04%
Amortization: 25-year
Down Payment (5%): $26,450
CMCH fees: $13,820.12
Total loan: $516,370.12
Payment: $2,454.31
Approximate income required: $110,000*

Conventional Loan (20% or more down payment)
Interest Rate: 3.04%
Amortization: 30-year
Down Payment (20%): $105,800
Total Loan: $423,200
Payment: $1788.16
Approximate income required: $86,000*

*Inclusive of maintenance fees, heat and property taxes.

From my home to yours
-Irene

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