$1,398,000 - 388 Highway 7 N/A Unit TH7, Richmond Hill
Condo for Sale in Richmond Hill
77 days on market- MLS Number
- N12953024
- Property Type
- Condo
- Status
- active
- Days on Site
- 77
- Bedrooms
- 4
- Bathrooms
- 5
- Square Feet
- 2,000 - 2,499 sqft
- Neighbourhood
- Richmond Hill
- Locker
- None
- Exposure
- North
- Balcony
- Open
- Listing Brokerage
- Century 21 New Concept Simple Realty
This is the Luxury townhouse ideally situated in the heart of Richmond Hill. Offers 4 bedroom sand 5 bathrooms, along with a double garage and Driveway Parks Up To 4 Cars. It features a bright, functional layout with 9-foot ceilings. Solid Hardwood Floor, Oversized Casement Windows, Professionally Designed Gourmet Kitchen. The spacious modern kitchen is equipped with stainless steel appliances, quartz countertops, a central island, a breakfast area, and a walk-in pantry. The combined living and dining area includes a fireplace and pot lights thru-out, creating a warm and inviting space. This house is also seniors friendly with an ensuite bedroom on first floor and an elevator that can access all three floors w/ ease. Ideal home for multi-generations large family. The primary bedroom is generously sized, includes a 5-piece ensuite and large window. The other3 bedrooms are spacious and bright, featuring large windows that allow plenty of natural light to fill the space. The fully finished basement adds extra living space and includes a 4-piece bathroom. Conveniently located near public transit, GO trains and buses, restaurants, parks, shopping plazas, and major highways (407/404), as well as the future Richmond Hill subway extension. Situated in a top-rated school zone, including Christ the King Catholic Elementary School and St. Robert High School. This is your hidden gem and is move in ready! Must See!
Estimate your monthly payments for this property
Estimated Payment
$6,183.83/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.
388 Highway 7 N/A Unit TH7, 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
Competitive Pricing
At $699/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 77 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.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Richmond Hill. Good resale value as demand remains consistent.
Bathroom Count Matters
With 5 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.
Investment Perspective
Looking at this as an investment: Richmond Hill properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $5,825 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.