Condominiums in Toronto provide a great urban lifestyle. They are close to shops, restaurants, entertainment venues and transportation. With a little careful planning you can enjoy your own castle in the sky.
Toronto Condos appeal to a wide range of people. They are a great opportunity for people in their twenties to get into the real estate market because they can be less expensive than a house.
It is a way for empty nesters to scale down their lifestyle and be in close proximity to various services. Last, but not least; Toronto condominiums are in a perfect location for high-powered professionals who work in the financial district of the city.
If you are thinking about buying a condo in the city of Toronto you will have plenty to choose from. There are older buildings in well established neighbourhoods and there are newer Toronto suites in up and coming communities.
Since new developments are popping up all the time, it is hard to say just how many condo buildings the city currently has, but below is a list of some areas that are known for condos.
* North York
* King West
* Bay Street
When you live in a Toronto condominium unit, you own that unit or suite, but you share ownership of the actual building. Your condo fees go towards the maintenance of the building and the property it sits on.
The Toronto condo lifestyle means you will be part of a close knit community. In some cases you will be sharing swimming pools, workout rooms, party rooms and tennis courts with others who live in the building.
If you like to socialize, you will really enjoy condo living. Check out www.condolifemag.com to learn more about what it is like living the life of a condo owner.
Size & Price
Like houses, the price of Toronto Condos depends on the neighbourhood and size of the unit. In some areas of the city you can get a small condo for as little as $200,000, in other areas you will pay half a million.
Revitalization of some parts of the city, including the waterfront, has made developers eager to build more luxurious buildings. Toronto luxury condos come with a high price. There are condos in the city that are over $500,000.
In the Greater Toronto Area (GTA) prices are lower so you do have a lot of options.
Searching for Condos
Since the Toronto condo market is so large, you shouldn’t have any trouble finding a place that meets your needs. All the city’s major daily newspapers not only advertise units for sale, but publish feature stories on condo living, design, and decorating.
There are also a number of sources you can turn to on-line, such as www.torontocondonetwork.com. This site advertises condo suites for sale and lease. It will also help you find a real estate agent with extensive experience in buying and selling condominiums.
You can read about mortgage data, the Toronto tax assessment system and new condo developments on this site. You can also explore www.bestofcondos.com and www.torontoscondosandlofts.com.
If you prefer not to go through a real estate agent, you might want to take a look at www.comfree.com/condos-for-sale-toronto.
There is a lot to consider when you are interested in purchasing a condo in Toronto. Location is of course the biggest issue, but agents remind consumers that there are other things you might want to look at.
1. Purchase the largest suite you can afford because it will be easier to sell later.
2. Visit the neighborhood during the day and at night to see if you like it.
3. Get a parking space even if you don’t drive because you can rent it out.
4. Find out if they have lockers. You might want one if your suite is small
5. Talk to other suite owners
6. Ask about monthly condo fees
7. Ask if property taxes are included in the maintenance fees
8. Find out if there is visitor parking
If you are interested in a downtown condo, the search can be overwhelming with the vast choices you have. One of the leading sellers of downtown condos is a team of real estate experts simply called, the Condo Team.
You can find them at www.torontocondoteam.ca. This easy to use site allows you to zero in on a specific neighbourhood during your search for your home sweet home.