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C$639,900

reducedC$

5 Churchill Cres, Centre Wellington, Ontario, N1M 1A6

bedrooms 3 Bedroom
|
washrooms 2 Bathroom
|
garages 0 Garage

MLS - #X11897034

FOR Sale

Description

Welcome to 5 Churchill Crescent E, a charming 3-bedroom home nestled on a spacious lot backing onto Webster Park, with no backyard neighbours. Located on a quiet, family-friendly crescent, this home offers the perfect balance of privacy and convenience. The eat-in kitchen features plenty of cabinetry, counter space, a stylish backsplash, and a large window that fills the space with natural light. Stainless steel appliances include a built-in oven and separate stove top, making meal prep a breeze. The kitchen flows into the bright and airy living room, highlighted by solid hardwood floors and an expansive window that brings the outdoors in. Also on the main floor is a bedroom with garden doors that open directly to the backyard perfect for morning coffees or an evening glass of wine. A 4-piece bathroom with a shower/tub combo. Upstairs, you will find two generously sized bedrooms, both with hardwood floors and large windows. The fully finished basement provides additional living space, offering a versatile recreation room with ample pot lighting. This area can easily serve as a cosy family space, a home office, or a hobby room or whatever suits your lifestyle. With some adjustments with would make an excellent in-law suite! Step outside to the large back deck with a new pergola (2020), ideal for family gatherings and barbecues with friends. Have a campfire in the fully fenced yard, and with no backyard neighbours, enjoy an unobstructed view and gate access directly to Webster Park and playground. A handy shed provides extra storage for all your outdoor tools and equipment. Situated in a fantastic family-oriented neighbourhood, you are just around the corner from Victoria Terrace Public School. A short walk away, you will find a shopping centre with everything you need: Walmart, LCBO, Beer Store, a hardware store, and more. Plus, you are less than two minutes from downtown Fergus, where you can explore an array of restaurants, boutique shops, and other amenities.

Last check for updates

Property type

Detached

Style

1 1/2 Storey

Community

Fergus

Lot size

5,405 Sqft

Garage spaces

0

Home Overview

Basement information

Finished, Full

Virtual tour

Mls® #

X11897034

Building size

Status

Active

Property sub type

Taxes

$2,869

Tax year

2024

Maintenance fee

N/A

Year built

2024

Interior

# total bathrooms

2

# Full baths

2

# of above grade bedrooms

3

# of rooms

8

Family room available

No

Laundry information

Exterior

Construction materials

Alum Siding

Other structures

Garden Shed

# garage spaces

0

# parking spaces

4

Garage features

None

Has basement (y/n)

Yes

Has garage (y/n)

Yes

Drive

Pvt Double

Amenities / Utilities

Cooling

Central Air

Heat source

Gas

Heat type

Forced Air

Sewers

Sewers

Location

Water source

Municipal

Area

Wellington

Community

Fergus

Community features

Hospital, Library, Park, Place Of Worship, Public Transit, School

Directions

James St

walking  Walk Score for 5 Churchill Cres

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1. Determine the purchase price of the home.

2. Calculate the down payment (usually 5-20% of the purchase price in Canada).

3. Subtract the down payment from the purchase price to get the mortgage amount.

4. Choose a mortgage term (typically 5 years in Canada) and amortization period (usually 25-30 years).

5. Determine the interest rate (check current rates from Canadian lenders).

6. Use a mortgage calculator or formula to determine the monthly payment based on the mortgage amount, interest rate, and amortization period.

7. Factor in additional costs like property taxes, home insurance, and possibly mortgage insurance if the down payment is less than 20%.

8. Consider the impact of making accelerated bi-weekly payments instead of monthly payments to pay off the mortgage faster.

9. Review the total interest paid over the life of the mortgage.

10. Ensure the monthly payments fit within your budget, typically not exceeding 32% of your gross monthly income for housing costs.

Terms Explained

Home Value: The current market value or purchase price of the property.

Down Payment: The initial upfront portion of the total home purchase price paid by the buyer.

Mortgage Amount: The amount borrowed from a lender to purchase the home (Home Value minus Down Payment).

Interest Rate: The percentage charged by the lender for borrowing the money, usually expressed as an annual rate.

Mortgage Term: The length of time your mortgage agreement and interest rate are in effect (typically 1-5 years in Canada).

Amortization Period: The total length of time it will take to pay off the entire mortgage (usually 25-30 years in Canada).

Monthly Payment: The amount paid each month towards the mortgage, including principal and interest.

Principal: The original amount borrowed, which decreases as payments are made.

CMHC Insurance: Mortgage default insurance required for down payments less than 20% of the home's value.

Property Taxes: Annual taxes levied by local governments based on the property's assessed value.

Home Insurance: Coverage to protect the property against damage or loss.

Land Transfer Tax: A tax paid to the provincial government when purchasing a property.

Closing Costs: Additional expenses incurred when finalizing a home purchase (legal fees, inspections, etc.).

Prepayment Privileges: Options to pay extra towards the mortgage without penalties.

Fixed Rate Mortgage: A mortgage where the interest rate remains constant for the term.

Variable Rate Mortgage: A mortgage where the interest rate can fluctuate based on the prime rate.

Refinancing: The process of replacing an existing mortgage with a new one, often to take advantage of better terms or rates.

These terms are commonly used in mortgage calculations and discussions about home financing in Canada.
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