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C$1,549,000

reducedC$49K

38 Shady Oaks Ave, Markham, Ontario, L6B 0J5

bedrooms 4 Bedroom
|
washrooms 4 Bathroom
|
garages 2 Garage

MLS - #N11445438

FOR Sale

Description

Welcome To 38 Shady Oaks Avenue. Double Door, Stunning Four Bedroom Detached Home With Double Garage Situated In One Of Markham's Most Sought-After Neighbourhoods. Premium Corner Lot. An Abundance Of Windows Fills The Space With Natural Light. Spacious Eat-In Kitchen Featuring A Center Island And Granite Countertops Complemented By A Separate Breakfast Area That Seamlessly Flows Into A Large Family Room With A Cozy Fireplace. Large Open Concept Living And Dining, Perfect For Entertaining. Office/Library Conveniently Located On Main Floor. The Master Bedroom Features A Generous Relaxing Sitting Area And 5 Pc Ensuite. This Home Is Ideal For Families, Offering Ample Living Space And Modern Conveniences. A True Beacon Of Comfort And Joy Amidst The City Landscape. Several Steps To Black Walnut Park And Cornell Rouge Woods Park Playground. 3 Mins Drive To Bill Hogarth Secondary School. Close To Banks, Groceries, Restaurants, Gym, Bakeries, Public Transport, Plazas And All Amenities. Dont Miss OutSchedule A Viewing Today!

Last check for updates

Property type

Detached

Style

2-Storey

Community

Cornell

Lot size

2,913 Sqft

Garage spaces

2

Home Overview

Basement information

Full, null

Virtual tour

Mls® #

N11445438

Building size

Status

Active

Property sub type

Taxes

$6,668

Tax year

2024

Maintenance fee

N/A

Year built

--

Interior

# total bathrooms

4

# Full baths

4

# of above grade bedrooms

4

# of rooms

11

Family room available

Yes

Laundry information

Exterior

Construction materials

Brick

Other structures

# garage spaces

2

# parking spaces

1

Garage features

Attached

Has basement (y/n)

Yes

Has garage (y/n)

Yes

Drive

Private

Amenities / Utilities

Cooling

Central Air

Heat source

Gas

Heat type

Forced Air

Sewers

Sewers

Location

Water source

Municipal

Area

York

Community

Cornell

Community features

, , , , ,

Directions

16th Ave & Donald Cousens Pkwy

Extras

Fridge, Stove, Rangehood, Dishwasher, Washer & Dryer, All Elfs and All Window Coverings

walking  Walk Score for 38 Shady Oaks Ave

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Steps to calculate your payments using a mortgage calculator

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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