29 Fundy Bay Boulevard Townhouses: 80 Family Towns From 1978

29 Fundy Bay Boulevard Townhouses is an 80-home complex from 1978 in north Scarborough, and unlike many small townhouse corporations, it had homes on the market when I checked. That gives buyers something rare: live pricing to test against the twin complex across the street. The work is in the documents, because a 48-year-old corporation lives or dies by its reserve fund. I’m Jatin Dua, RE/MAX Quantum Realty.

The odd side of Fundy Bay

This corporation, YCC-424, covers the odd-numbered addresses on Fundy Bay Boulevard. Across the street is 24 Fundy Bay Townhouses, YCC-443, with 87 homes registered in December 1978. The two are separate corporations with separate finances, even though condos.ca lists the same manager, Maple Ridge Community Management, for both.

YCC-424 registered on 4 October 1978, which makes it the older of the two by a couple of months and puts the homes at about 48 years old. With 80 homes, it is a mid-sized townhouse corporation, where major repairs are shared among enough owners to soften the per-home cost.

Because the two complexes are so alike in age and setting, they make good comparables for each other. The difference that matters is not the street side but the state of each corporation’s reserve fund and the condition of the home itself.

Settled complexes like this often have long-term owners, many of whom bought decades ago. That usually shows in how the grounds are kept and how many owners show up to the annual meeting. Ask the seller how active the board is.

Family-sized homes

Both homes listed for sale when I checked were three-bedroom units, which fits what this complex was built for: families who wanted bedrooms upstairs and a yard at a townhouse price. Condos.ca does not publish unit sizes, so measure the home and ask for the floor plan.

The single-floor entry on condos.ca is how its database records townhouse complexes, not a description of these homes. Expect family layouts over more than one level, often with a basement, and check the basement carefully for any history of water in a home this age.

Visitor parking is listed. Ask what parking comes with the home itself, whether it is a garage, a driveway or an assigned space, and whether it is owned or exclusive-use.

Ask about the wiring too. Homes built in Ontario in the 1970s sometimes used aluminium branch wiring, and insurers usually ask about it. A home inspector can tell you what is in the walls and whether it has been remediated.

A settled pocket of north Scarborough

Fundy Bay sits in the City’s Steeles neighbourhood, which runs from Steeles Avenue down to the hydro corridor just south of McNicoll, between Victoria Park and Kennedy. Most housing here was finished by the early 1980s, so the streets are mature and the pace of change is slow.

The L’Amoreaux Community Centre is in the southeast part of the same neighbourhood, and the area is part of the Scarborough Chinatown that extends into Agincourt and Milliken. Bridlewood Mall at Warden and Finch, in L’Amoreaux to the south, is a short drive away.

Drivers have Highway 404 to the west and the 401 and 407 within reach. The data panel on this page shows the bus routes, schools and parks that serve the complex.

The documents to read first

In a townhouse condominium, the corporation usually maintains roofs, exterior walls, grounds and roads, and owners maintain the interior and their own heating, cooling and water heater. Older declarations can treat windows, doors and fences either way, so check this corporation’s declaration rather than assuming.

Ask for the reserve fund study, the latest budget and audited financial statements, and the last year of board minutes. Those documents show whether the fee has kept pace with the age of the buildings, and whether any large project or special assessment is coming.

With homes actively for sale, ask the listing agent whether a status certificate is already available. It saves time and lets you review the corporation’s finances before you commit to a price.

When you compare this complex with others, compare what each fee includes as well as the dollar amount. A lower fee that leaves windows, doors or the driveway to the owner can cost more over ten years than a higher fee that covers them.

What homes here are asking

When I checked, condos.ca showed two homes for sale, both three-bedroom units, asking in the range of $625,000 to $658,000. Current listings showed monthly fees of roughly $500. No homes were listed for lease, and condos.ca publishes no average price per square foot here.

That range is a useful anchor, but asking prices are not sale prices. The data panel on this page shows what has actually traded in aggregate. Compare those figures with sales across the street at 24 Fundy Bay Townhouses, adjusting for condition and parking.

A fee of about $500 a month for a family townhouse needs context. It typically covers the exterior, grounds, insurance and reserve contributions, while heat, hydro and water are usually on the owner. Add those utilities, and check whether the reserve fund is strong enough that the fee will not need to jump.

If you are selling, the small number of comparable homes is an opportunity as much as a problem. Buyers who want this kind of home in this area have few choices in any given month, so a clean, updated home with clear documents tends to stand out.

Building specifications

Amenities at 29 Fundy Bay Boulevard Townhouses

Visitor parking is the only shared feature listed, so the fee goes to the buildings, grounds and reserve rather than to facilities. That is part of why the fee is modest for a family-sized home. If you want a pool or gym, a community centre membership is usually cheaper than funding shared facilities through the fee.

Jatin’s honest take on 29 Fundy Bay Boulevard Townhouses

29 Fundy Bay Boulevard Townhouses — frequently asked questions

Looking at Agincourt, L’Amoreaux, Milliken, Dorset Park and Wexford in Scarborough more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.