THE SELLERS: Michael and Tanya Kovendi, both 39. He’s a consultant at a tech company; she’s a family physician.
THE PROPERTY: A five-bedroom, two-bathroom bungalow in North York’s leafy Clanton Park neighbourhood.
THE STORY: In 2016, Michael and Tanya bought this 2,200-square-foot home for $840,000. The area was quiet and close to transit hubs, with good schools—ideal for a young family. A few years later, when a two-storey, 3,500-square-foot house came up for sale down the street, they bought it as an income property, planning to rent it out and move into it someday. By 2022, they had two kids and were feeling pressed for space. Plus, with interest rates soaring, it no longer made sense to carry both properties: the two mortgages were costing them a staggering $16,000 per…