Toronto Condo

How to find the perfect condo for you

Monday Dec 23rd, 2019

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Toronto Condo prices have been rising fast for the past several years. In the year 2018, under the dual pressure of mortgage stress tests and rising interest rates, many first-time buyers couldn't afford detached home, making condo the only choice for homeownership. Given intense buyer competitions, finding a perfect condo is a challenging task. As a result of this, I have identified several critical criteria to assist you in finding an ideal condo.

 

Budget

It would be imperative if you have your overall spending budget wholly planned out before you begin shopping for Real Estate properties. In the year 2019, the average price of a condo in downtown Toronto can be above $1000/sqf. If you look further north to 905 area York Region, Vaughan, Markham, or Richmond hill, the price is between $700-$850/sqf. Setting an affordable budget before you physically begin searching for property allows you to operate with a clear mind. This way, you are more likely to find the exact property that you are looking for without pushing the limits of your budget. This straightforward tip provides a more realistic and responsible approach than you may realize.

 

Location

Downtown or suburb, you may not realize it yet, but everyone has a specific housing location preference in the back of their minds. Even if you are new to a city, state, or country, you probably have a few characteristics in mind about the location that you prefer to either live near or avoid. These preferences may be similar to things such as mobility, noise levels, views, city, or rural areas. It would be wise to treat the internet as your best friend while you are Real Estate shopping. This will help you pinpoint areas that would be of great interest to you. While serving as a process of elimination.

 

Amenities

Choosing the perfect condo based on the available facilities is similar to how you would prefer for your location. You may be interested in condominiums that have a library, swimming pool, gym, or even a spa. Your interests should be soothing and fitting to you as it is your money that you are using to purchase your new living quarters. But, it would be very wise to do a little research on the areas surrounding condos that pique your interest. This allows you to get to know the community and what it has to offer. If there are accommodations or companies near the condo of interest, then you may be able to ignore the fact the apartment at the top of your list does not have a state of the art gym. There are ways to cut corners, and this seems to be the simplest one.

 

Utilizing available resources

While it may be easy for you to consult the internet during your active property search. It would be best if you also asked a Professional Real Estate Agent while you are searching. Agents tend to have more accurate and up to date resources that those found online. Utilizing both methods together will provide a smoother transition, and it may speed up the overall property search. Real Estate Agents are usually responded to more quickly than prospective clients simply because they have more access and more direct connections well because it is their job.

 

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