21 Dec So, what’s in a Condo anyway?
The GTA offers a wide variety of condominium options, offering flexibility to meet your needs. From sleek newly built modern glass skyscrapers, to warm and rustic post and beam conversion projects, there is a product type out there that caters to every lifestyle and investment need.
For those who are not familiar with the concept, owning a condominium entails having a title to a specific unit within a building or complex, as well as shared ownership of the common elements (such as the grounds, elevators, exercise facilities, parking areas etc.)
Due to the diversity of available product, condominiums offer greater affordability in high demand locations, as well as high-end luxury options to meet the needs of consumers looking for a more opulent lifestyle.
Like any piece of real estate, the value of the space can be enhanced through upgrades, so be sure to consider older buildings that may offer better value and allow for custom enhancements that truly make the space your own.
If you are interested in pre-construction projects, Shirriff Wells can connect you with priority access to new releases before the general public, and at more competitive prices.
A common question we are asked is “will a condo be a safe investment”? While the real estate market constantly ebbs and flows, the short answer is that the condominiums offer the only way we can create new land. By building vertically developers intensive that value of land, and create greater density that allows for residents to live closer to the places and amenities that are important to their lifestyle needs. Toronto needs to create new housing for 80,000 to 100,000 new residents per year due to migration, and condos represent the most affordable way to do so. In short, so long as the demand continues, and supply remains constrained, we see condominiums as an excellent investment with good potential for future returns.
Before buying a condo there are lots of considerations that must be made. Some condos have by-laws that restrict having a pet, and the maintenance fee’s may or may not include utilities. Whether you are a first-time buyer or a seasoned investor with a large portfolio, Shirriff Wells will work with you to develop a plan around your needs to best assist you.
Please drop us a line at info@ShirriffWells.com and we are ready and waiting to help!