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Condo Developers - are they all the same?

Tuesday Aug 21st, 2018

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Pre-construction condos have been popping up all over GTA, and over the past few decades most people have done very well financially by buying pre-construction condos. Assignments, pre-con flipping, investment units have become the staple of condo purchases vocabulary, and majority of owners and investors alike reaped the benefits of buying pre-construction units. The key word is most, not all. Recently at least 9 condo projects in GTA have been cancelled, the biggest of them being... [read more]

101 of Preconstruction Condominium Buying

Sunday Oct 27th, 2019

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You are thinking of buying a preconstruction condominium, you hear people talking about making a fortune by buying them and you want the piece of the pie. Facebook is full of advertisements for new launches and the graphics look spectacular, so you decide to wait for the next official opening to go in without an agent because you know what you want, right? In this blog I will try to explain as much as possible (and the topic is extensive) about the process and key factors when buying a... [read more]

Why Are Condo Fees So High?

Sunday Dec 1st, 2019

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Why Are Condo Fee So High? Condominiums have been the hottest segment of the market around GTA until Covid hit, it was partly because of the lack of affordability for freehold housing, as well as changing demographics, lack of available land in Downtown Toronto, life-style choices, just to name few reasons. In this article we will look at why are condo fees so high. The amount to be paid for monthly condo fees can range anywhere from $200 for a studio unit in the brand new condominium... [read more]

Buying Resale Condominiums - Things To Consider

Saturday Jan 25th, 2020

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    I have already written a blog about buying preconstruction condos, in this blog I would like to point out certain details of purchasing a resale condominium, in some aspects buying precons and resale are the same, and differ quite a bit in others. For the most part the approach of the investor and owner occupier will be very similar as well. I will be addressing number of points, some more important than others, all worth considering. Location. This applies to... [read more]

Is The Condo Preconstruction Deposit Safe?

Saturday Mar 28th, 2020

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I have already written about condo project cancellations and there have been a number of them in the last few years. Every time a unit is purchased a deposit is made, are these funds safe? There are number of safeguards in place to protect the buyers and their deposits. Tarion offers condo deposit protection up to $20,000, but as we know most deposits would exceed this amount by a large margin. The developer of the new condominium project must be Tarion registered and must enter into... [read more]

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