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The Real Reasons this Mississauga Mansion Sold for Only 56% of List

Posted on: January 28th, 2014 by Alison Hodd

Mississauga Mansion Real EstateA Mississauga Mansion once listed for $11M, sold last Sunday at auction for $6.2M. Why did this 23-room, 18,000-square-foot mansion go for only 56% of it’s original listing price? Apparently leaving the owner-Ambassador Fine Homes– unable to cover $1M worth of building materials.

Despite it’s 8-car garage, The Huffington Post reports that neighbours say the house was too expensive for the neighbourhood and too large for the lot.

Here are the real reasons this Mississauga Mansion failed to recoup costs.

Reason #1:  This Mississauga Mansion looks ridiculous next to it’s courtside neighbours

Mississauga Mansion SaxonyIt is too big for its lot-outrageously so. But the bigger reason is context. Next to the other homes on this small court it is too wide, too tall, too colossal, with far too many architectural grand gestures. Nothing about the mansion relates in any way to any other dwelling nearby. The bright white limestone, wrought iron, chateau-style chimneys, Greco-Roman columns and balustrades are in keeping with no architectural elements anywhere nearby. By itself on Lakeshore Rd it would hold court – true.  And if all the homes on Saxony were too big for their lots it would fit in better.  Lesson:  Homes with a sense of belonging sell for more.

Reason #2:  The trouble with marble

Marble Mansion Mississauga

Natural stone can add warmth and movement to a space.  Done poorly and it looks overdone, cold, and dated. Be careful with natural stone as it bounces around sound and light. As a result we can get too much echo and the harsh glare straining our eyes.

In the ensuite bathroom the same heavily patterned blue-grey marble is carried up the wall and onto the ceiling. In the rest of the mansion we see a pink/peach marble (likely crema marfil). Pinky-peach is a difficult colour to decorate around as many colours – like soft blues and greens-only intensity the pinky-peach tones.

Large slab polished marble is also slippery when wet. For that reason I don’t recommend it in any room where water could accumulate. For me, that’s front entryways, bathrooms, kitchens and dining rooms.  Also, it has no give so it is hard on our bodies for cooking/preparing meals. For that reason it is a poor choice for a kitchen. Lesson: Use natural stone wisely to avoid the office tower lobby vibe.

Reason #3: Lack of cozy corners

Mississauga Mansion Living RoomLight and bright is how most of us want our homes to feel. But where do we go when we want shelter and privacy? From what I can see from the images on-line this home lacks cozy corners. There is nowhere to curl up and read a good book without feeling exposed.

Every room is bigger than the previous room, every fireplace more elaborate than the last. How does one create a sense of intimacy and connection in oversized greenhouse? Famed architect/author Sarah Susankah believes that tailoring your home to how to really live is how your home can make a big impact. Her book Not So Big Remodelling, shows readers “how to think like an architect.” If you are undertaking a remodel or new build learn about Sarah’s philosophy for working with the space you have.

If you’d like a home that feels tailored to how you really live, book a time to chat with me here.

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7 responses to “The Real Reasons this Mississauga Mansion Sold for Only 56% of List”

  1. Wow, thanks for sharing Alison. This is just crazy and I really don’t like the marble that goes up to the ceiling in the ensuite. People need to be careful when going so elaborate, especially with natural stones like granite or marble as I find these finishes are very personal to each individual. So not always the best option if you planning to sell, they could make or break the sale.

  2. Rachel Wilkinson says:

    Let’s hope the builder learned the lesson here! What a shame. Well at least the buyer saved tons of money on the house!

  3. Rachel Wilkinson says:

    Let’s hope the builder learned the lesson here! What a shame. Well at least the people who bought the house got a great deal on it!

  4. Alison Hodd says:

    Thanks Piri. I think you’re right – they could afford to lose. They wrote it off as a business loss and are moving on. Good point.

  5. Well said, Alison. It doesn’t matter how much you invest in a home. Every neighbourhood has it’s own price and anything above that is lost investment. Before you renovate or build is smart to consult a realtor who know the area. That can save you a ton, but some like to stand out. When it comes to real estate – you better be smart than stand out and loose. I guess they could afford to loose it.

  6. Alison Hodd says:

    Yes Sarah – lot of builders have the “bigger and more expensive” is better mentality. It’s just not one that I share. I agree that The City of Mississauga should take some responsibility here. I think the fact that this builder got approval is very sad. I really feel for the folks on the street because that home changes the whole feeling of the court.

  7. Sarah Taylor says:

    Excellent article, Alison. It still amazes me that there are architects/builders/designers out there who seem to miss that all important “fit in with the neighbourhood” step. That this was even allowed to be built boggles the mind. Likely the original plans were not followed, or if they were, someone was well compensated to not complain. 🙁 Shameful, and yes, this on Lakeshore would make perfect sense. It’s only problem there would be being one of the smaller houses on the street!

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