$2,299,000 - 525 Elgin Mills Road, Richmond Hill
New Construction for Sale in Richmond Hill
New — Listed 2 days ago- MLS Number
- N13415984
- Property Type
- New Construction
- Status
- active
- Days on Site
- 2
- Bedrooms
- 4
- Bathrooms
- 4
- Square Feet
- 3,500 - 3,999 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- HOMELIFE BROADWAY REALTY INC.
Rarely Offered Luxurious Home in the heart of Richmond Hill! Stunning 4 Bedroom, Approx. 4000sq ft of Luxury comfort. The basement can be renovated into a separate unit with an entrance in the mudroom. Wide entrance hallway as you walk in, Cathedral ceiling in the Den/Office, walk-in Pantry with coffee corner. 6-burner Kitchenaid stove range. Quartz countertop. 10ft Ceiling on main, 9ft on second, and 9ft basement (rare). An ensuite bedroom as well as a Jack-and-Jill bath for the other bedrooms. Master bath equipped with a freestanding tub, massive shower, and enclosed toilet. Master Bedroom features tray ceiling. Hardwood floor throughout. Driveway accommodates 6 vehicles. Minutes away from trails leading to Mill Pond Park, top tier schools, Many restaurants and supermarkets just minutes away. Bus stop 10 seconds away.
Estimate your monthly payments for this property
Estimated Payment
$10,169.25/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.
525 Elgin Mills Road, Richmond Hill
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Rental income estimator & ROI calculator
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 $657/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.
Just Listed - Act Strategically
This property hit the market within the last week. In Richmond Hill's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
Larger Home Realities
At 3,500 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.
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 4 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 $9,579 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.