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Not too many years ago, buying a condo in West Toronto was considered a compromise move. Today condos are more affordable, particularly for first-time buyers who have a tough time breaking into the housing market.
This may be changing. Latest statistics show condos make sense for investment or ownership. New const
Housing trends and styles in West Toronto are changing constantly. Today, more than ever, buyers have a strong sense of what they want in a home.
Today’s desirable home features depend greatly on the type of buyer. Buyers can be divided into two main groups.
Title Insurance gives homeowners protection should someone else claim a legal interest in their property. It also protects homeowners against loss resulting from pre-existing municipal work orders, survey issues, certificate of location defects, unpaid taxes
To succeed in this real estate market, investors and managers need a new kind of toolbox. While financial implements are still critical, more traditional tools of the trade, a hammer, paintbrush and the number of a good plumber, for example, have joined them.
When putting a house up for sale, one of the most important factors you should consider is your home's exterior as this is the first step to draw potential buyers. It's what is known as curb appeal. Here are some changes that will make your home more attractive and functional
1) Get pre-approved for a mortgage before you make an offer. When you are trying to buy a house in a competitive market, your offer to purchase should contain as few conditions as possible. An offer that is conditional on obtaining financing is often a deal killer
Once you have figured out the home price range you can afford and the type of mortgage you qualify for, you will need to calculate all of the associated costs of the transaction to make sure you are financially ready. Upfront Costs: You will need to plan ahead to cover the many up-front costs of buying a hom
Obviously, you want to get a good price. But the closing date and other conditions can be just as important. Sometimes a lower price with fewer restrictions can be a better deal. Here are the major factors to consider:
• Price. It’s important to know how an offer compares to the recent
When you buy a condo in the Kingsway , Islington Village, High Park or any other parts of Toronto, you’re not just buying a place to live. You’re becoming part of a community. Before you make an offer on your dream condo, we recommend you to get some expert advice to help you navigate through the process
Old condo versus new one. Markland Wood Etobicoke West Toronto
Toronto’s resale condo market has once again proved that is not in the crisis.
Condo apartments’ sales this past summer were up by 10 per cent compared to last year at the same time.
Prices were up by more than 4 per cent in Toronto and by about 1 per cent in the 905 regions.
Currently, the average price of condo in GTA is $339,512. They are on the market for an average of 34 days and sell for 97 per cent of the listing price.
More negative news comes from the new condo market, where sales are down compare to the recent years, but not in all parts of the city.
Buyers are finding much more profit from the resale and older condos, since they are large, located in well established neighbourhoods with good amenities and especially these ones close to public transits, either on the subway lines or with easy access to highways.
The excellent example for this type of investment is Millgate Manor and The Masters located in Markland Wood, Etobicoke, West Toronto just on the border Etobicoke and Mississauga.
Should you go for an old condo or brand new one?
Advantages of older condos are: good sized units, affordable prices, they sell for less than $300 per square footage, the Ontario HST is not charged on resale condos and usually they are on big lots with green spaces, mature trees and beautiful landscaping.
Maybe they tend to have outdated lobby or other common elements, but this depends on corporation and board of directors to decide on improvements. And if only the reserve fund allows, which should be checked by your lawyer, the changes and updates are made to the systems and look.
Maintenance fee may be higher in older buildings but the new ones will catch them up soon in order to have sufficient reserve fund for any needed repairs or improvements in the future. The fees include usually hydro and water and even sometimes cable TV like in Millgate or the Masters.
Despite borrowing cost increases, older condos are very good and affordable option for the first home buyers, young families or downsizing.
The future for the condo market remains strong.
What is my Home Worth Today?
Over the past years how many times have you looked at the value of your investment portfolio? In the last year how many times have you learned about the value and market conditions of your home?