$4,950,000 - 173 Lakeland Crescent, Richmond Hill
Detached for Sale in Richmond Hill
64 days on market- MLS Number
- N13003972
- Property Type
- Detached
- Status
- active
- Days on Site
- 64
- Bedrooms
- 6
- Bathrooms
- 7
- Square Feet
- 5,000+ sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- REMAX YOUR COMMUNITY REALTY
Welcome To 173 Lakeland Crescent, A Truly Exceptional Custom-Built Waterfront Estate In The Prestigious Lake Wilcox Community Of Oak Ridges, Richmond Hill. Perfectly Positioned On A Premium Lakefront Lot With Unobstructed Panoramic Views Of Lake Wilcox, This Remarkable Residence Offers Over 8,500 Sq. Ft. Of Luxurious Living Space, Including 6,047 Sq. Ft. Above Grade And A Professionally Finished 2,500 Sq. Ft. Walk-Up Lower Level. Designed With Timeless European Elegance And Superior Craftsmanship, The Home Showcases Custom Millwork, Soaring Coved Ceilings, Heated Floors, Multiple Fireplaces, And Exquisite Designer Finishes Throughout. The Gourmet Chef's Kitchen Is Appointed With Top-Of-The-Line Appliances, Two Oversized Centre Islands, A Walk-In Pantry, And A Breakfast Area Framed By Breathtaking Lake Views. The Main Level Features Elegant Formal Living And Dining Rooms, A Spacious Great Room, And A Private Executive Office. All Bedrooms Are Generously Sized With Private Ensuites, Including A Stunning Primary Retreat Offering Serene Lake Views, A Spa-Inspired Ensuite, And Custom Walk-In Closet. The Walk-Up Lower Level Is Designed For Ultimate Comfort And Entertaining, Featuring Heated Floors, A Home Theatre, Gym, Dry Sauna, Wine Cellar, Bar Area, And Flexible Guest Or In-Law Accommodations. The Professionally Landscaped Waterfront Backyard Creates A Private Resort-Style Setting With A Heated Saltwater Pool, Hot Tub, Cabana, Gas Fire Pit, Outdoor Kitchen, And Direct Access To Lake Wilcox. Additional Features Include A 3-Car Garage With Lift (Parking For 4), Built-In Sound System, Security Cameras, And Irrigation System. Located Just Minutes From Top-Rated Schools, Parks, Trails, And Amenities. This Home Represents A Rare Opportunity & Exceptional Value To Own One Of Richmond Hill's Most Exclusive Custom Waterfront Residence on Lake Wilcox.
Estimate your monthly payments for this property
Estimated Payment
$21,895.52/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Richmond Hill
Richmond Hill is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Richmond Hill
- •Convenient location in Richmond Hill
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Richmond Hill offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
173 Lakeland Crescent, Richmond Hill
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $990/sqft, this property is priced in line with current Richmond Hill market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 64 days on site, this property has exceeded the typical selling timeline for Richmond Hill. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Richmond Hill are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Larger Home Realities
At 5,000 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Richmond Hill.
Bathroom Count Matters
With 7 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.