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C$724,900

reducedC$

150 WELLINGTON St, Guelph, Ontario, N1H 3R2

bedrooms 2 Bedroom
|
washrooms 2 Bathroom

MLS - #X11898438

FOR Sale

Description

Welcome Home to Suite 901 at the prestigious and contemporary River Mill Condominium with highly sought after parking for 2 vehicles. This suite is serenely tucked away along the banks of the Speed River on a tree lined street in the heart of downtown Guelph. It is hard not to fall in love with this gorgeous, sun-filled suite, with its welcoming and airy split bedroom design, elegant finishes and stunning views. You'll immediately feel the quiet grandeur and sophistication of River Mill in the art gallery-inspired lobby. In your suite, you're welcomed through the generous foyer to the spacious, flowing interior, which is bathed in natural light from an abundance of floor-to-ceiling windows. Your stunning yet functional kitchen is complete with quartz countertops and high-end appliances. When you're entertaining, there's plenty of room for all your guests in the expansive living-dining space. On your private balcony, you'll enjoy some sun, a refreshing breeze and an unobstructed view of historic downtown. Take advantage of the spacious bedrooms on either side of your home to maximizing privacy. The primary suite is your private retreat, featuring an oversized closet and an ensuite bath with a contemporary glass walk-in shower. Befitting it's regal presence, River Mill is well-known for it's exceptional amenities including lifestyle and recreation centre, theatre, library, guest suite, garden terrace, sky lounge even an area for your own gardening. Walk, ride, drive, grab the GO train, Via, Guelph Transit - so many choices just outside your building. Including your choice of beloved shops, galleries, cafes, restaurants, trails, parks, schools, Farmer's Market - all the best neighbourhood activities and amenities you love are here. Don't miss out on making this exceptional residence your urban oasis home and schedule a viewing today!

Last check for updates

Property type

Condo Apt

Style

Other

Community

Central West

Lot size

0 Sqft

Garage spaces

N/A

Home Overview

Basement information

None, null

Virtual tour

Mls® #

X11898438

Building size

1000-1199

Status

Active

Property sub type

Taxes

$4,262

Tax year

2024

Maintenance fee

N/A

Year built

2024

Interior

# total bathrooms

2

# Full baths

2

# of above grade bedrooms

2

# of rooms

7

Family room available

No

Laundry information

Exterior

Construction materials

Concrete

Other structures

# garage spaces

N/A

# parking spaces

0

Garage features

Underground

Has basement (y/n)

Yes

Has garage (y/n)

Yes

Drive

Amenities / Utilities

Cooling

Central Air

Heat source

Other

Heat type

Other

Sewers

Location

Water source

Area

Wellington

Community

Central West

Community features

, , , , ,

Directions

Wellington Street East between Neeve Street and Macdonell Street. Visitor Parking out front or along Surrey Street

walking  Walk Score for 150 WELLINGTON St

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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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