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C$1,875,000

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4605 Hancock Rd, Clarington, Ontario, L0B 1S0

bedrooms 3 Bedroom
|
washrooms 2 Bathroom
|
garages 2 Garage

MLS - #E12005121

FOR Sale

Description

This Truly Is A One-Of-A-Kind Property With 2 Full Homes Tucked Away On A Beautiful 5-Acre Piece Of Pristine Land Surrounded By Farm Fields And Forest. At The End Of A Dead-End Street, This Custom Bungalow Built In 2021 Boasts Unparalleled Privacy And Seclusion With No Neighbors, Offering A Retreat From The Bustle Of City Life While Still Conveniently Located Within Minutes Of All Amenities And The 418. You Feel The Privacy As Soon As You Start Driving Up The Long Driveway To The Oversized Double Car Garage. The Craftsmanship Is Noticeable In Every Detail, And The Open-Concept Living Area Is Perfect For Entertaining. The Kitchen Has Been Beautifully Designed With An Oversized Island With Breakfast Bar, Stainless Steel Appliances, And A Wet Bar With Hot Water On Demand. The Large Primary Bedroom Overlooks The Private Yard, Has A Great-Sized 3-Piece Ensuite Washroom, And A Huge Walk-In Closet. The Other Two Bedrooms On The Main Floor Offer Plenty Of Space For Family And Guests! The Walk-Out Basement Is Partially Finished. The Huge Above-Grade Windows Let In A Ton Of Natural Light, Letting You Enjoy The View From The Lower Rec Room And Games Room. There Is Plenty Of Space For Additional Features And Bedrooms. The Basement Also Conveniently Has Access To The Garage Or Walk-Out To The Yard. There Is Also A Rough-In For A Washroom. The Second 1800 Sqft House Offers The Potential For Combining Families Or As A Rental. This 3-Bedroom, 1-Bath Home Needs Some Tlc, But With The Right Vision, The Possibilities Are Endless! Don't Miss Your Chance To See This Stunning Property And All It Has To Offer. **EXTRAS** The Huge Partially Heated 30x44 Ft Shop With A 14' Bay Door Is Perfect For Projects Or Storing All Your Toys. The Loft Space Provides A Great Getaway. Enjoy Walking Trails, A Private Creek, And Nature Views Right From Your Windows.

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Property type

Detached

Style

Bungalow

Community

Rural Clarington

Lot size

217,985 Sqft

Garage spaces

2

Home Overview

Basement information

Part Fin, W/O

Virtual tour

Mls® #

E12005121

Building size

Status

Active

Property sub type

Taxes

$9,112

Tax year

2024

Maintenance fee

N/A

Year built

--

Interior

# total bathrooms

2

# Full baths

2

# of above grade bedrooms

3

# of rooms

7

Family room available

No

Laundry information

Exterior

Construction materials

Brick

Other structures

# garage spaces

2

# parking spaces

10

Garage features

Attached

Has basement (y/n)

Yes

Has garage (y/n)

Yes

Drive

Pvt Double

Amenities / Utilities

Cooling

Central Air

Heat source

Propane

Heat type

Forced Air

Sewers

Septic

Location

Water source

Well

Area

Durham

Community

Rural Clarington

Community features

, , , , ,

Directions

Taunton Rd / Courtice Rd

walking  Walk Score for 4605 Hancock Rd

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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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