When it comes to luxury real estate, Toronto has plenty of homes that qualify.The city that never settles is quickly becoming a playground for the elite, where homes are more than just places to live &mdash; they&rsquo;re status symbols, private retreats, and sometimes, architectural masterpieces that make you do a double-take.And while many of us may never be able to afford such luxury, we can covet the trendy things we see in them. So what are the 1% doing in their homes?<h2>The Condo Craze Continues</h2>First off, let&rsquo;s talk condos. You might think that a luxury home needs to come with a sprawling lawn and a backyard pool. But in Toronto, sky-high living is equally luxurious.Just check out <a href="https://strata.ca/toronto/155-cumberland-st-155-cumberland/unit-1700" target="_blank">Suite 1700 at 155 Cumberland St.</a> It is the epitome of fancy city living, with a whopping 6,644 sqft of indoor luxury, plus 1,000 sqft of stunning outdoor terraces.There&rsquo;s also <a href="https://strata.ca/toronto/183-wellington-st-w-residences-of-the-ritz-carlton/unit-460203" target="_blank">4602 &amp; 03 - 183 Wellington St W</a> which has stunning 180-degree panoramic views of Toronto, and all the amenities that the Ritz-Carlton has to offer.But from stunning views of the cityscape, concierge services that rival the best hotels, and amenities like rooftop pools, private gyms, and even wine cellars &mdash; <a href="https://strata.ca/blog/luxury-condos-in-toronto-our-top-picks!" target="_blank">luxury condos</a> can compete with the most lavish of mansions.So it&rsquo;s no surprise,<a href="https://www.gta-homes.com/luxury-condos/" target="_blank"> luxury condos are popping up</a> faster than you can say &quot;penthouse suite&quot;. Some are even so coveted that they&rsquo;re selling before the building is even finished, <a href="https://strata.ca/mls/c6035655" target="_blank">like with One Bloor St. W</a>.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/The Smart Home Boom-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/The Smart Home Boom.png"/><img src="https://media.strata.ca/article-images/221/The Smart Home Boom.png" alt="null"/></picture><h2>The Smart Home Boom</h2>Now, a lot of homes can look fancy. But what turns a fancy house into a dream home? Tech. That&rsquo;s right, move over traditional mansions &mdash; smart homes are the new must-have in Toronto&rsquo;s luxury market.Today&rsquo;s affluent buyers want homes that can do it all. From lighting that adjusts to your mood to automated security to blinds that close themselves, smart homes are turning fantasies into reality.And you&rsquo;ll notice that almost all the luxury mansions have smart home technology integrated, because who doesn&rsquo;t want to control everything from your smartphone, whether you&rsquo;re on the couch or sipping cocktails in the Caribbean?Just take a peek at how cool <a href="https://strata.ca/toronto/17-ardwold-gate-m5r2w1" target="_blank"> 17 Ardwold Gate</a> is! This luxurious home is crafted with state-of-the-art innovation and technology including an automated wine cellar and an 11-car garage that rotates.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/Outdoor Spaces Get the Royal Treatment-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/Outdoor Spaces Get the Royal Treatment.png"/><img src="https://media.strata.ca/article-images/221/Outdoor Spaces Get the Royal Treatment.png" alt="null"/></picture><h2>Outdoor Spaces Get the Royal Treatment</h2>In the GTA where space is at a premium, outdoor living areas have become the ultimate luxury.Forget about basic patios; we&rsquo;re talking outdoor kitchens with pizza ovens, heated infinity pools, and fire pits that make you want to roast marshmallows all year round.These outdoor spaces aren&rsquo;t just an afterthought. They&rsquo;re designed with the same attention to detail as the interiors, offering a seamless blend of comfort and nature. One home that does this really well is <a href="https://strata.ca/toronto/11-thornwood-road-m4w2r8" target="_blank">11 Thornwood Rd</a> in <a href="https://strata.ca/toronto/midtown?center" target="_blank">Midtown</a>, which truly celebrates the surrounding landscape.But just outside of the city, we can&rsquo;t help but drool over the backyard of <a href="https://strata.ca/caledon/15466-the-gore-road-l7c3e5" target="_blank">15466 The Gore Road</a> in <a href="https://strata.ca/caledon/rural-caledon-east?center" target="_blank">Rural East Caledon</a>. Although, not sure you can call it a &ldquo;backyard&rdquo; when it has 52.5 acres of private forest, three ponds, and a cascading stream. But even with all that space, it&rsquo;s still a vibe.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/Sustainability -600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/Sustainability .png"/><img src="https://media.strata.ca/article-images/221/Sustainability .png" alt="null"/></picture><h2>Sustainability Meets Sophistication</h2>Luxury doesn&rsquo;t have to come at the expense of the environment. Toronto&rsquo;s high-end market is seeing a rise in eco-friendly features that don&rsquo;t skimp on style.Take <a href="https://strata.ca/toronto/95-riverview-drive-m4n3c6" target="_blank">95 Riverview Dr</a>. This stunning four-bedroom home was thoughtfully designed with sustainability at its core. It has eco-friendly features like green roofs, rainwater harvesting, skylights that open for natural ventilation, energy-saving LEDs, a permeable driveway, high-efficiency split-zone mechanical systems, and much more.Sustainable luxury is here, and it&rsquo;s making a big statement.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/Heritage Homes-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/Heritage Homes.png"/><img src="https://media.strata.ca/article-images/221/Heritage Homes.png" alt="null"/></picture><h2>Heritage Homes with a Modern Twist</h2>Toronto&rsquo;s love affair with history is no stranger to Toronto&rsquo;s elite. In fact, many of the stunning homes we see on the market today were equally stunning back in the 1800&rsquo;s and early 1900&rsquo;s. Heritage homes are being snapped up by buyers who appreciate the charm of the past, but still want all the modern comforts.These homes are being meticulously restored to maintain their original character while incorporating the latest technology and design trends. The result? A great blend of old-world elegance and contemporary flair that&rsquo;s hard to resist.Right now, we&rsquo;re lusting over <a href="https://strata.ca/toronto/27-south-drive-m4w1r2" target="_blank">27 South Dr.</a>, an Edwardian home that was masterfully renovated by Architect Ray Murakami, Designer Ann Johnston, and Landscape Architect Mark Hartley.We&rsquo;re also loving <a href="https://strata.ca/toronto/82-chestnut-park-road-m4w2r3" target="_blank">82 Chestnut Park Rd.</a>, which was originally built in 1904 by famed architects Henry Langley and Charles Langley (who also built some of the most iconic homes around Toronto), but has been completely renovated into a modern day beauty.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/The Rise of Customization-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/221/The Rise of Customization.png"/><img src="https://media.strata.ca/article-images/221/The Rise of Customization.png" alt="null"/></picture><h2>The Rise of Customization</h2>Last but certainly not least, customization is king. The ultra-wealthy don&rsquo;t just want a beautiful home &mdash; they want a home that&rsquo;s uniquely theirs. Custom-built estates are becoming more popular, with buyers working closely with architects and designers to create spaces that reflect their personal style.Whether it&rsquo;s a home theatre that rivals the best cinemas, a wine cellar that could host a sommelier&rsquo;s dream tasting, or a garage that doubles as a showroom for a luxury car collection, the possibilities are endless when you have the budget.Like in <a href="https://strata.ca/oakville/393-maple-grove-drive-l6j4v8" target="_blank">393 Maple Grove Dr.</a> in <a href="https://strata.ca/oakville?center" target="_blank">Oakville</a> there&rsquo;s an entire bowling alley. And in <a href="https://strata.ca/toronto/108-sandringham-drive-m3h1c9" target="_blank">108 Sandringham Dr.</a> in <a href="https://strata.ca/toronto/north-york?center" target="_blank">North York</a>, there&rsquo;s even an old-school arcade.In Toronto, luxury real estate isn&rsquo;t just about where you live &mdash; it&rsquo;s about how you live. And with these trends, it&rsquo;s clear that the city&rsquo;s affluent are living large, with no signs of slowing down. After all, why just live when you can live luxuriously?

Luxury Real Estate Trends In Toronto: How The Lavish Live Large

Toronto is a city full of vibrant neighbourhoods, each with its own unique charm and character. While places like the Distillery District, Liberty Village, and Queen West often steal the spotlight &mdash; there are plenty of lesser-known areas that deserve a little love.These hidden gems offer a blend of culture, history, and community spirit that make them worth a visit and maybe even worth moving to.So, if you're looking to venture off the beaten path, here are some underrated GTA neighbourhoods that are definitely worth exploring and adding to your home search.<h2> Junction Triangle: Where the Past Meets the Present</h2>Nestled in the heart of the West End, <a href="https://strata.ca/toronto/west-end/the-junction-west-end?center" target="_blank">Junction Triangle</a> is a neighbourhood with a rich industrial history that&rsquo;s quickly becoming one of Toronto's coolest spots. This area is packed with old factories and churches that have been transformed into trendy lofts (like <a href="https://strata.ca/toronto/8-bartlett-ave-the-bartlett-lofts" target="_balnk">The Bartlette Lofts</a> and <a href="https://strata.ca/toronto/40-westmoreland-ave-west-40" target="_blank">West 40</a>) or art spaces, and microbreweries.You can also take a stroll down the Railpath, a scenic trail that runs alongside the railway tracks, and discover hidden murals, quirky cafes, and the always-happening <a href="https://shophendersonbrewing.com/" target="_blank">Henderson Brewing Co</a>. It&rsquo;s the perfect place to see how Toronto&rsquo;s past is being reinvented for the future.And if you want to get in on the ground floor of a unique condo space, we&rsquo;d encourage you to check out <a href="https://grainlofts.com/" target="_blank">Grain Lofts</a>, which is a new sustainable condo development using mass timber construction.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Cabbagetown-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Cabbagetown.png"/><img src="https://media.strata.ca/article-images/220/Cabbagetown.png" alt="null"/></picture><h2> Cabbagetown: A Slice of Victorian Charm</h2>If you&rsquo;re a fan of historic architecture, <a href="https://strata.ca/toronto/downtown/cabbagetown?center" target="_blank">Cabbagetown</a> is a must-visit and a must-consider if you want a century-old home with character.This charming neighbourhood boasts the largest continuous area of preserved Victorian homes in North America. There&rsquo;s even some for sale right now, which could be your dream home. Like <a href="https://strata.ca/toronto/31-rose-avenue-m4x1n7" target="_blank">31 Rose Ave</a>. which is a three-storey legal triplex in a charming Victorian home or this four-bedroom townhouse at <a href="https://strata.ca/toronto/344-wellesley-street-east-m4x1h3" target="_blank">344 Wellesley St E</a>. is also stunning.Walking through its leafy streets feels like stepping back in time. But it&rsquo;s not all about the old days. Cabbagetown also has a thriving contemporary scene. Check out the weekly farmers' market at Riverdale Park, or pop into Jet Fuel Coffee for a caffeine fix. And don&rsquo;t miss the annual <a href="https://www.cabbagetownto.com/festival-information" target="_blank">Cabbagetown Festival</a>, where the streets come alive with music, food, and local artisans.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Danforth-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Danforth.png"/><img src="https://media.strata.ca/article-images/220/Danforth.png" alt="null"/></picture><h2>Danforth East: More Than Just Greek Town</h2>While the Danforth is famous for its Greek cuisine, venture a little further east, and you&rsquo;ll find a neighbourhood that&rsquo;s bursting with multicultural flavours and community spirit.<a href="https://strata.ca/toronto/east-york/danforth-village?center" target="_blank">Danforth East</a> is home to a diverse array of eateries, from Ethiopian and Japanese to classic Italian. The area also has a growing arts scene, with galleries and creative workshops popping up all over. Stop by the <a href="https://www.eastlynnparkfarmersmarket.ca/" target="_blank">East Lynn Farmers' Market</a> for local produce and handmade goods, or join a yoga class at one of the many studios. It&rsquo;s a foodie and culture lover&rsquo;s paradise.It also has some pretty great homes and condos to check out, like <a href="https://strata.ca/toronto/2055-danforth-avenue-carmelina-condos" target="_blank">Camerlina Condos</a> or this cute, fully renovated semi-detached house with exposed brick walls <a href="https://strata.ca/toronto/1060-woodbine-avenue-m4c4c5" target="_blank">listed for just under $1M</a>.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Bloordale-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Bloordale.png"/><img src="https://media.strata.ca/article-images/220/Bloordale.png" alt="null"/></picture><h2>Bloordale Village: The Cool Kid on the Block</h2>Bloordale Village is the epitome of a neighbourhood on the rise. What was once a sleepy strip between Dufferin St. and Lansdowne Ave. is now buzzing with new life, thanks to an influx of hip bars, vintage shops, and indie galleries. This is the place to go if you&rsquo;re looking for something a bit offbeat. Grab a pint at <a href="https://burdockbrewery.com/" target="_blank">Burdock Brewery</a>, catch a live show at the cozy <a href="https://torontolife.com/culture/the-story-behind-owls-club-a-veterans-hall-with-legendary-karaoke-saturdays/" target="_blank">Owl&rsquo;s Club</a>, or hunt for retro treasures at Value Village. You can also partake in some excellent people watching at <a href="https://www.instagram.com/thedirtyduff/?hl" target="_blank">The Dirty Duff</a> aka Dufferin Mall. Bloordale&rsquo;s gritty charm and creative vibe make it a fantastic spot for a casual day out.And if Bloordale Village turns out to be the dream neighbourhood for you, you&rsquo;ll want to keep an eye out for homes or condos in <a href="https://strata.ca/toronto/west-end/dovercourt-wallace-emerson-junction?center" target="_blank">Brockton Village, Dufferin Grove or Dovercourt</a>. There&rsquo;s tons of options out there.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Weston-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Weston.png"/><img src="https://media.strata.ca/article-images/220/Weston.png" alt="null"/></picture><h2>Weston: A Riverside Retreat</h2>Often overlooked, <a href="https://strata.ca/toronto/york-crosstown/weston?center" target="_blank">Weston</a> is a hidden gem that offers a peaceful escape from the hustle and bustle of city life. Situated along the Humber River, this neighbourhood has beautiful parks, historic sites, and a strong sense of community. Take a walk through Weston Lions Park, where you can enjoy stunning river views and maybe even spot some local wildlife. For a bit of history, visit the 19th-century St. John's Anglican Church, or explore the quaint shops and cafes that line Weston Road. It&rsquo;s a tranquil retreat that feels miles away from downtown Toronto.Weston is also a pretty affordable neighbourhood to live in with detached home prices ranging from $650,000 to $1,450,000, with the average sale price being just over $1 million.But there&rsquo;s plenty of options for houses and townhouses for under $1 million making this a great neighbourhood for first time home buyers.This newly renovated <a href="https://strata.ca/toronto/50-william-street-m9n2g7" target="_blank">detached bungalow for $939,000</a> or this <a href="https://strata.ca/toronto/1947-1949-lawrence-ave-w-lexington-on-the-green-condos/1-unit-219" target="_blank">beautiful townhouse for $648,000</a> would both be great options if you happen to be in the market.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Port Credit-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Port Credit.png"/><img src="https://media.strata.ca/article-images/220/Port Credit.png" alt="null"/></picture><h2>Port Credit: The GTA's Waterfront Gem</h2>Head west to Mississauga, and you'll find <a href="https://strata.ca/mississauga/port-credit?center" target="_blank">Port Credit</a>, a charming lakeside neighbourhood that&rsquo;s often overshadowed by its big city neighbour. This waterfront gem boasts a picturesque marina, beautiful parks, and a vibrant main street filled with shops and restaurants. Take a leisurely stroll along the Waterfront Trail, enjoy fresh seafood at Snug Harbour, or catch some live music at one of the local bars. Port Credit&rsquo;s laid-back vibe and stunning views make it a perfect day trip destination or place to call home.Here are some of our favourite homes from Port Credit that are on the market right now.<a href="https://strata.ca/mississauga/94-cumberland-drive-l5g3m8/mls/w8328218" target="_blank">This contemporary newer build</a> home located on Lake Ontario is beyond dreamy. It has direct lake access and comes with a water lot, which means you have an extra 300-feet of property in the lake! It is, however, $7,580,000 or $22,000 a month to live here.If you&rsquo;re not rolling in dough, there&rsquo;s tons of other cute options too at a more reasonable price. For example, there&rsquo;s this modern corner penthouse suite in a low rise boutique condo just steps from the lake. It&rsquo;s <a href="https://strata.ca/mississauga/70-port-st-e-the-regatta-iii-condos/unit-605" target="_blank">listed for $749,000</a>.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Unionville-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Unionville.png"/><img src="https://media.strata.ca/article-images/220/Unionville.png" alt="null"/></picture><h2>Unionville: A Step Back in Time</h2>Just a short drive north of Markham, is <a href="https://strata.ca/markham/unionville?center" target="_blank">Unionville</a>. It offers a quaint, historic experience that's hard to find in the modern cityscape. With its preserved 19th-century buildings, charming boutiques, and cozy cafes, Unionville feels like a village frozen in time. Take a walk down Main Street, visit the Varley Art Gallery, or enjoy a performance at the Flato Markham Theatre. The neighbourhood also hosts several festivals throughout the year, making it a lively spot to visit no matter the season.And if you&rsquo;re looking for a place to live, the great thing about being outside of the city is you have way more space and prices aren&rsquo;t as outrageous. Like take this impressive 9,741 square-foot corner lot in the heart of Historic Unionville. The historic home boasts four bedrooms, four bathrooms, and a detached double garage. In Rosedale this house would probably be more than $9 million, but in Unionville it is <a href="https://strata.ca/mls/n8203120" target="_blank">listed for $1,888,000</a>.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Streetsville-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/220/Streetsville.png"/><img src="https://media.strata.ca/article-images/220/Streetsville.png" alt="null"/></picture><h2>Streetsville: Mississauga's Village in the City</h2>Known as &ldquo;The Village in the City,&rdquo; <a href="https://strata.ca/mississauga/streetsville?center" target="_blank">Streetsville</a> in Mississauga combines small-town charm with modern amenities. This neighbourhood is home to a number of historic buildings, unique shops, and delightful restaurants.It also has modern houses, townhouses and condos, if you&rsquo;re in the market for that. Our top pick would be this three-bedroom &ldquo;detached condo&rdquo; part of <a href="https://strata.ca/mississauga/1760-1875-hyde-mill-cres-hyde-mill-crescent-townhomes" target="_blank">Hyde Mill Crescent Townhomes</a> that&rsquo;s <a href="https://strata.ca/mississauga/1760-1875-hyde-mill-cres-hyde-mill-crescent-townhomes/95-unit-139" target="_blank">listed for a reasonable $795,000</a>. It&rsquo;s like the best of both worlds all wrapped into one cute package.But if you&rsquo;re just there for a day trip, definitely check out the Streetsville Bread and Honey Festival, explore the beautiful Streetsville Memorial Park, or enjoy a meal at one of the many local eateries. It&rsquo;s a welcoming community that offers a refreshing break from the hustle and bustle of city life.<h2>Final Thoughts</h2>Toronto and its surrounding areas are brimming with hidden treasures just waiting to be discovered. These underrated neighbourhoods offer a mix of history, culture, and local flavour that make them, at the very least, worth exploring. So next time you&rsquo;re looking for a new adventure, skip the usual spots and head to one of these hidden gems. You might just find your new favourite place or maybe even your dream home.

Hidden Gems: Underrated Toronto Neighbourhoods Worth Exploring

<h2>1. Location, Location, Location!</h2>You&rsquo;ve heard this one a million times, but it&rsquo;s the golden rule of real estate for a reason. Whether you&rsquo;re eyeing a cozy triplex in Toronto&rsquo;s trendy Queen West or a sprawling apartment complex in the Oakville suburbs, the location can make or break your investment. Check out the neighbourhood vibe, accessibility, and amenities. Remember, your future tenants would love to be close to public transit, schools, and cute coffee shops.One quadplex that definitely checks the location box is <a href="https://strata.ca/toronto/509-palmerston-boulevard-m6g2p2" target="_blank">509 Palmerston Blvd</a>. Listed for $3,299,000 this detached-house / multiplex boasts over 4,000 square feet of space, multiple patios, four parking spots and is close to literally everything.<h2>2. Know Your Numbers</h2>Think of buying a multiplex like hosting a big party &mdash; you need to know how many guests (aka tenants) it can handle, how much it&rsquo;ll cost, and what you&rsquo;ll get out of it. Crunch those numbers! Calculate the potential rental income, expenses (maintenance, taxes, insurance), and factor in a buffer for unexpected costs. It&rsquo;s all about balancing the books to make sure you&rsquo;re not just breaking even; but turning a profit.One thing you can look at is the capitalization rate (cap rate). This handy metric helps you understand the potential return on your investment. It&rsquo;s calculated by dividing the net operating income (NOI) by the property&rsquo;s purchase price. For example, if your property generates $100,000 in annual income and costs $1,000,000 &mdash; your cap rate is 10%. A higher cap rate often indicates a higher return. But this can also mean more risk. Compare cap rates in the area to get a sense of whether you&rsquo;re getting a good deal. But generally, experts say that a good cap rate hovers around 4%.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/218/Condition-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/218/Condition.png"/><img src="https://media.strata.ca/article-images/218/Condition.png" alt="null"/></picture><h2>3. Check the Condition</h2>Before you sign on the dotted line, channel your inner Sherlock Holmes. Inspect every nook and cranny of the building. A fresh coat of paint can hide a multitude of sins. Look for signs of wear-and-tear, structural issues, and anything that screams <a href="https://strata.ca/blog/should-you-buy-a-fixer-upper-how-to-avoid-a-money-pit" target="_blank">&ldquo;money pit&rdquo;.</a> Don&rsquo;t be shy about bringing in a professional inspector. It&rsquo;s worth the peace of mind.For example, <a href="https://strata.ca/toronto/3025-queen-street-east-m1n1a5" target="_blank">3025 Queen St E</a> looks stunning from the outside because it is. It&rsquo;s a historic Toronto landmark literally called Chateau de Quatre Vents (Castle of the Four Winds). But the interior condition is less than ideal. It&rsquo;s only halfway through a renovation, and is now being sold &ldquo;as is&rdquo;. Not to mention the place has been listed several times since 2021, and keeps dropping the asking price. In short, your spidey senses should be tingling.On the other hand, this <a href="https://strata.ca/toronto/97-lee-avenue-m4e2p2" target="_blank">nine-unit multiplex in The Beaches</a> is basically turn-key after a two-year restoration project. It is, however, listed for over $8 million.<h2>4. Understand the Market</h2>Real estate isn&rsquo;t just about bricks and mortar; it&rsquo;s about trends and timing. Dive into the local market to understand rental demand and vacancy rates. Are people flocking to the area, or is it seeing an exodus? Keeping an ear to the ground can help you make informed decisions and avoid potential pitfalls.<h2>5. Legal Eagle Eyes</h2>Owning a multiplex means wearing multiple hats &mdash; with the main one being the landlord hat. Get familiar with <a href="https://www.ontario.ca/page/renting-ontario-your-rights" target="_blank">Toronto and Ontario&rsquo;s landlord-tenant laws</a>. Know your rights and responsibilities, making sure your lease agreements are airtight. It&rsquo;s like playing Monopoly, but with real consequences.<h2>6. Financing Fun</h2>Securing financing for a multiplex can be a bit different from getting a mortgage for a single-family home. Although, if the property has four-units or less, you can still qualify for a traditional home mortgage.However, when purchasing a multiplex with five or more units, lenders classify this as a commercial property, requiring you to qualify for a commercial mortgage. This type of loan has additional criteria, such as evaluating the building's profit potential and assessing your experience as a landlord.But you should still shop around for the best rates and terms, as well as consider working with a mortgage broker who specializes in multi-unit properties. They can help you navigate the process and find a deal that works for you.<h2>7. Property Management: DIY or Outsource?</h2>Decide early on whether you want to manage the property yourself or hire a dedicated property manager or firm. Self-managing can save you money, but it also means being on-call 24/7 for tenant issues. If the thought of late-night plumbing disasters makes you shudder, it might be worth outsourcing.When hiring a property management company or property manager, prioritize experience, reputation, and services offered. Look for a company with a solid track record and good references. Ensure they offer comprehensive services like tenant screening, rent collection, and maintenance.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/218/Future-Proofing-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/218/Future-Proofing.png"/><img src="https://media.strata.ca/article-images/218/Future-Proofing.png" alt="null"/></picture><h2>8. Future-Proofing</h2>Think long-term. Will the area continue to grow and attract tenants? Are there plans for new developments or infrastructure projects that could boost property values? In short, future-proofing your investment can help ensure it remains profitable down the line. Look for signs of upcoming neighborhood revitalization projects, new public transit routes, or planned commercial developments. These can all indicate a positive future trajectory for your investment.For example, in Toronto <a href="https://strata.ca/blog/riding-the-value-wave-how-transit-infrastructure-is-shaping-gta-real-estate" target="_blank">transit infrastructure</a> can have a big impact on property value. So you might want to look at a multiplex like <a href="https://strata.ca/toronto/117-chaplin-crescent-m5p1a6" target="_blank">117 Chaplin Cres</a>. Listed for $4,950,000, this newly renovated building offers four apartments, plenty of parking and will be <a href="https://www.metrolinx.com/en/projects-and-programs/eglinton-crosstown-lrt" target="_blank">steps away from the new LRT</a>.Additionally, consider the property's potential for upgrades and improvements&mdash;modern amenities and energy-efficient features can make your building more attractive to future tenants and increase its value over time.<h2>9. Community Vibes</h2>Lastly, consider the community aspect. Multiplexes and apartment buildings often create mini-communities. How will you foster a positive environment? Happy tenants are more likely to stick around, reducing turnover and keeping your investment steady.Buying a multiplex or apartment building can be a thrilling adventure. With a bit of homework, some number-crunching, and a dash of Sherlock Holmes&rsquo; detective skills, you&rsquo;ll be well on your way to becoming a real estate mogul. So, grab your floaties, and dive in &ndash; the water&rsquo;s fine!

So You Want to Buy a Multiplex or Apartment Building? Here's What You Need to Know

Fun fact, when it comes to mixed-use development &mdash; Toronto was way ahead of the curve!Back in 1986, the local government created a zoning bylaw that allowed commercial and residential units to cozy up together.This move was part of Toronto's early efforts to focus on mixed-use spaces, especially as the demand for social housing grew.Probably one of the most standout examples is <a href="https://mirvish-village.com/" target="_blank"> Mirvish Village</a>, designed by architect <a href="https://henriquezpartners.com/teams/gregory-henriquez/" target="_blank">Gregory Henriquez.</a>This project, which <a href="https://www.theglobeandmail.com/news/toronto/redevelopment-of-honest-eds-in-toronto-holds-several-surprises/article23274452/" target="_blank">took over Honest Ed&rsquo;s</a> at the bustling intersection of Bloor and Bathurst, mixed things up with some areas zoned as &quot;commercial residential&quot; and others as &quot;mixed commercial residential.&quot;Mixed-Use Developments Transform GTA NeighbourhoodsAlthough the concept of mixed-use properties has existed for some time, it has recently become one of the region&rsquo;s most popular forms of development.Especially since last November, when Toronto&rsquo;s most ambitious mixed-use development, <a href="https://strata.ca/toronto/425-wellington-street-west-the-residences-at-the-well" target="_blank">The Well</a>, with a whopping 1.2 million square feet of office space and 320,000 square feet of retail and food space, <a href="https://nowtoronto.com/lifestyle/mixed-use-development-the-well-officially-opens-in-downtown-toronto/" target="_blank">opened up</a>.The Well also offers 1,700 residential units spread out over six rentals and condos, and <a href="https://thewelltoronto.com/about/our-story/" target="_blank">according to their website</a>, will house over 11,000 residents.Although, The Well <a href="https://www.cbc.ca/news/canada/toronto/the-well-toronto-fashion-district-affordable-housing-1.6904832" target="_blank">&ldquo;missed the mark&rdquo;</a> on incorporating affordable housing into the space, <a href="https://www.thestar.com/opinion/contributors/here-is-one-under-developed-solution-to-the-gtas-housing-crisis/article_aeddc1bc-03f1-11ef-8af4-bb9a2be136f9.html" target="_blank">mixed-use development has been touted</a> as the potential saviour of Toronto&rsquo;s real estate issues.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/213/Markham Mixed Use-600.webp" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/213/Markham Mixed Use.webp"/><img src="https://media.strata.ca/article-images/213/Markham Mixed Use.webp" alt="null"/></picture>The Many Pros of Mixed-Use Developments<a href="https://www.tandfonline.com/doi/abs/10.1080/01944363.2017.1406315" target="_blank">According to a study</a> in the Journal of American Planning Association, mixed-use developments are like superheroes for neighbourhoods.They can manifest in different ways: vertical (multiple uses in one building) or horizontal (different uses in neighbouring buildings).But regardless of whether they&rsquo;re vertical or horizontal, one of the key advantages is their ability to foster a sense of community.By bringing together people from different backgrounds and lifestyles, these spaces promote interaction and social cohesion. Residents have access to a variety of amenities, such as shops, restaurants, and parks, all within walking distance, creating a vibrant and inclusive environment.Many mixed-use developments feature amenities like fitness centres, rooftop gardens, and community spaces where residents can socialize and unwind.It's like living in a resort, but with all the perks of city life.Mixed-use developments also promote sustainability by reducing the need for long commutes and encouraging the use of public transportation and cycling. This not only reduces carbon emissions but also helps alleviate traffic congestion, making the city more livable for all residents.Additionally, mixed-use developments often incorporate eco-friendly features like green roofs and energy-efficient systems, making them a greener choice for urban living.From an economic perspective, mixed-use developments can be a boon to Toronto's economy.Take for example The Well, which according to <a href="https://www.theglobeandmail.com/canada/toronto/article-the-well-is-one-of-torontos-most-important-buildings-in-years-but-can/" target="_blank">The Globe and Mail</a> &ldquo;generated over $63-million in net fees, charges and benefits to the city, including $1-million for subsidized rental housing, all before the doors opened.&rdquo;By creating diverse, walkable neighbourhoods &mdash; these developments attract businesses and investors, boosting local commerce and creating job opportunities.Additionally, the presence of mixed-use developments can increase property values and tax revenues, benefiting the city's finances in the long run.But the best part? They can help tackle housing inequality in the long run.Future of Mixed-Use Developments in the GTA<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/213/Liberty Village-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/213/Liberty Village.png"/><img src="https://media.strata.ca/article-images/213/Liberty Village.png" alt="null"/></picture>In the GTA, mixed-use developments are popping up in neighbourhoods like Liberty Village and Yonge and Eglinton, transforming once-sleepy areas into vibrant hubs of activity.And <a href="https://www.toronto.ca/city-government/planning-development/planning-studies-initiatives/housing-action-plan-avenues-mixed-use-area-study/" target="_blank">according to the City of Toronto housing action plan</a>, there are plenty more mixed-use developments in the works. Which is great news because Toronto stands to benefit greatly from an increased focus on mixed-use developments.These innovative spaces have the potential to transform the city into a more sustainable, vibrant, and economically prosperous metropolis, enhancing the quality of life for all its residents.And, if you're in the market for a new place to call home (or just looking to upgrade your lifestyle), consider checking out a mixed-use development in the GTA.

The Rise of Mixed-Use Developments In The GTA

Imagine waking up to the gentle rocking of your home, the sound of water lapping against the hull, and a view of Lake Ontario that&rsquo;s straight out of a postcard. Living on a houseboat can sound like a dream. But is it the right dream for you?Let&rsquo;s dive into the pros and cons of this unique lifestyle to help you decide if life on the water is your perfect fit.<h2> The Perks of Houseboat Living</h2>1. Unbeatable ViewsDepending on where you dock your boat, you could have stunning city skyline views or a front-row seat to nature&rsquo;s finest. <a href="https://strata.ca/mls/e8292440/" target="_blank">Like this houseboat</a> that was recently listed for $1.2 million, featuring a gorgeous view of the Scarborough Bluffs.So whether it&rsquo;s a sunrise over the lake or a peaceful evening with the moon reflecting on the water, the scenery is constantly changing and always stunning.2. Freedom and FlexibilityOne of the biggest draws of living on a houseboat is the freedom to move. If you get tired of one location, you can simply motor on over to another. It&rsquo;s like having a home and a vacation all rolled into one! Although, it is important to note that some houseboats are actually floating homes, so they don&rsquo;t have a motor and can&rsquo;t be easily moved.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Freedom and Flexibility-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Freedom and Flexibility.png"/><img src="https://media.strata.ca/article-images/211/Freedom and Flexibility.png" alt="null"/></picture>3. Community VibesHouseboat communities are known for being tight-knit and friendly. Your neighbours will be fellow adventurers and free spirits, ready to share a laugh or lend a hand.&ldquo;Even in the wintertime, everyone makes a point of getting together on the dock for drinks, and there are regular movie nights and writing circles. There are 52 households that live here full-time, with residents ages 30 to 75. It&rsquo;s a really tight-knit group,&rdquo; said houseboat owner Kate Fincham in a <a href="https://torontolife.com/real-estate/kate-fincham-houseboat-tiny-living/" target="_blank">Toronto Life Article</a><picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Closer to Nature-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Closer to Nature.png"/><img src="https://media.strata.ca/article-images/211/Closer to Nature.png" alt="null"/></picture>4. Closer to NatureWhen you live in a concrete jungle like Toronto, it&rsquo;s easy to forget that there&rsquo;s grass, birds, trees and even a whole Great Lake out there.But living on the water means you&rsquo;re never far from a refreshing swim, a peaceful paddle, or a great fishing spot. It&rsquo;s a fantastic way to stay active and connected to the natural world.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Price Houseboat Hero-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Price Houseboat Hero.png"/><img src="https://media.strata.ca/article-images/211/Price Houseboat Hero.png" alt="null"/></picture>5. PriceOne of the bigger selling points of houseboats or floating homes is they can be significantly cheaper than a traditional property.This modern one-bed, two-bath floating home is listed for <a href="https://strata.ca/mls/e8139202/" target="_blank">listed for $569,000.</a> But we&rsquo;ve seen houseboats <a href="https://strata.ca/mls/e6668536/" target="_blank"> listed as low as $149,000.</a> There are still <a href="https://www.bluffersparkmarina.ca/compare-rates/" target="_blank">mooring fees</a> to consider, although there&rsquo;s no property tax (since there&rsquo;s no land).<h2>The Challenges to Consider</h2>1. Space ConstraintsHouseboats can be very cozy, to say the least. If you&rsquo;re used to spacious living, downsizing can be a challenge. You&rsquo;ll likely need to get creative with storage, and be prepared to live with less &mdash; like not having full-sized kitchen appliances or a bathtub.That being said, if you want more space go with a float home. <a href="https://strata.ca/mls/e8292440/" target="_blank">This one</a> comes with multiple bedrooms, multiple bathrooms, two-storeys, and more than 1,400 square feet of living space. Float homes are pretty much like a regular home, just on water instead of land.2. Maintenance and RepairsWater can be tough on boats, and houseboats are no exception. Regular maintenance is a must, and repairs can be frequent. Also, depending on what needs fixing, repairs can be costly. That being said, traditional homes also require regular maintenance and repairs. But the stakes are a bit higher on a houseboat since it&rsquo;s not just about keeping your home clean&mdash;it&rsquo;s about keeping it afloat!3. Weather WoesLiving on the water means being at the mercy of the elements. Storms can be especially daunting, and you&rsquo;ll need to be prepared for rough weather. Plus in Canada, winter can pose its own set of challenges with freezing water and icy conditions. However, residents use &ldquo;bubblers&rdquo; to keep water flowing, so it doesn&rsquo;t freeze and damage the pontoons.4. Limited UtilitiesDepending on your location, you may have limited access to utilities like electricity, water, and sewage systems. Some houseboaters rely on solar power, water tanks, and composting toilets. But if you&rsquo;re docked in a marina like Scarborough&rsquo;s Bluffer&rsquo;s Park, this isn&rsquo;t as big of an issue. You can hook up to the city&rsquo;s running water, power grid and plumbing is connected to a septic tank. You do still need to empty that tank every six weeks though.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Limited Utilities-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Limited Utilities.png"/><img src="https://media.strata.ca/article-images/211/Limited Utilities.png" alt="null"/></picture>5. FinancingProbably the biggest challenge of having a houseboat is getting one. Not only are they quite rare to find for sale, but banks won&rsquo;t give you a traditional mortgage to purchase one. It can also be hard to find an insurance company that will cover a houseboat.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Financing-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/211/Financing.png"/><img src="https://media.strata.ca/article-images/211/Financing.png" alt="null"/></picture><h2>The Bottom Line</h2>Living on a houseboat is a unique lifestyle that offers freedom, adventure, and a closer connection to nature. However, it also comes with its own set of challenges &mdash; from space limitations to maintenance demands. If you&rsquo;re ready to embrace a simpler, more sustainable way of life and don&rsquo;t mind rolling up your sleeves, living on a houseboat could be your perfect adventure.

Living On A Houseboat: Is It Right For You?

So, you've found your dream home &mdash; the one that checks all the boxes and maybe even has that perfect nook for your collection of vintage comic books. But Toronto's real estate market can be especially competitive and fast-paced. Homes here often receive multiple offers, and bidding wars are not uncommon.To negotiate effectively in Toronto, you need to understand the nuances of the local market and be ready to act quickly.That&rsquo;s why we have 10 tips to help you navigate the art of the deal like a pro!<h2>1. Do Your Homework</h2>First things first, know the market. Research similar homes in the area to get a sense of what's fair. Sites like <a href="https://strata.ca/" target="_blank">Strata</a> have tons of historical data and price trends in the neighbourhood. And as they say, knowledge is power.In this case, it can save you some serious cash. So definitely check out recent sales for comparable homes as well as active listings.<h2>2. Get Pre-Approved</h2>Showing the seller you're serious about buying can work in your favour. Getting pre-approved for a mortgage not only speeds up the process, but also makes you a more attractive buyer whom sellers can take seriously. Plus, knowing how much you can realistically afford is important when negotiating.<h2>3. Hire a Rockstar Agent</h2>A <a href="https://strata.ca/agents/" target="_blank">savvy relator</a> can be your secret weapon. They know the ins and outs of the market and can offer invaluable advice. They also do the heavy lifting in negotiations, which means less stress for you. Find someone who knows the area well and has a track record of successful deals.<h2>4. Play It Cool</h2>Don&rsquo;t let your excitement show too much. If the seller senses you&rsquo;re head-over-heels for the property, they might hold firm on the price or even try to start a bidding war. Keep your poker face on, and let your agent do the talking.But if you do end up in a multiple-offer situation, remember that even though bidding wars can be intense, they're not unwinnable. To come out on top, first know your limits. Decide your maximum price beforehand and stick to it.If you can&rsquo;t compete on price alone, consider sweetening the deal with other perks. Offer a larger deposit, flexible closing dates, or a personalized letter explaining why you love the home.And of course, lean on your agent. A seasoned realtor will have experience with multiple offers, and can offer strategies tailored to the specific situation. Trust their advice and expertise.<h2>5. Ask For Extras</h2>When negotiating, it&rsquo;s not just about the price. Sellers might be willing to throw in extras like appliances, furniture, or even covering closing costs. This is especially true in a buyer&rsquo;s market.<h2>6. Be Ready to Walk Away</h2>Look, we know this might be your dream home. But one of the most powerful negotiation tactics is being prepared to walk away. If the price isn&rsquo;t right, don&rsquo;t be afraid to step back. There are always other homes out there, and this approach can sometimes make the seller more willing to meet your terms.<h2>7. Timing is Everything</h2>Consider the timing of your offer. If the house has been on the market for a while, the seller may be more eager to negotiate. On the flip side, jumping the queue and making an offer that&rsquo;s too good to refuse can work too. Don&rsquo;t be afraid to ask your realtor which timing strategy is best.<h2>8. Inspect and Reflect</h2>Before putting in an offer, get a thorough home inspection. If the inspection reveals issues, you have a perfect reason to negotiate the price. Use the inspection results to your advantage to get a lower price or request repairs.<h2>9. Be Polite and Professional</h2>Keep the negotiation process respectful and professional. A positive relationship with the seller can sometimes lead to a better outcome. Being polite and understanding can go a long way in reaching a mutually beneficial agreement.<h2>10. Stay Within Your Budget</h2>Most importantly, stick to your budget. It&rsquo;s easy to get caught up in the excitement and stretch your finances too thin. Remember, real estate is a significant investment beyond just the purchase price. There are closing costs, land transfer taxes and legal fees. So no matter how perfect that home is, it shouldn&rsquo;t come at the cost of your financial well-being.

10 Tips For Negotiating The Price Of A House

Looking for an affordable home? Despite the GTA&rsquo;s reputation for high housing prices, there are still plenty of opportunities to find a charming abode without breaking the bank.Whether you're a first-time buyer, downsizing, or simply looking for a great deal &mdash; properties under $600,000 can offer the perfect blend of value and comfort.So here are some homes currently on the market that hopefully won't exceed your budget.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/206/486 Northcliff-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/206/486 Northcliff.png"/><img src="https://media.strata.ca/article-images/206/486 Northcliff.png" alt="null"/></picture><a href="https://strata.ca/toronto/486-northcliff-boulevard-west-m6e3l5" target="_blank">486 Northcliff Blvd W</a>There&rsquo;s only one detached house for sale in the GTA for under $600K. And fair warning &mdash; it needs some TLC due to fire damage.Listed for $599,000 in Toronto&rsquo;s Oakwood-Vaughan neighbourhood, the property is being sold &quot;as is where is&quot;. In other words, there&rsquo;s no warranties regarding the structure, electrical, plumbing, foundation, roof, furnace, condition, sizes, air quality, or AC/heating units. But, if you're handy and up for a project, this could be a great opportunity to restore it to its former glory.And it does have potential. It&rsquo;s a spacious three-bed, two-bath detached home on a 25 by 114 foot lot with a separate garage.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/206/152 Annette St-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/206/152 Annette St.png"/><img src="https://media.strata.ca/article-images/206/152 Annette St.png" alt="null"/></picture><a href="https://strata.ca/toronto/152-annette-st-victoria-lofts/unit-201" target="_blank">152 Annette St, Unit 201</a>As you venture closer to the city centre, there will be some things you need to compromise on &mdash; like space and parking. But fear not, there are still some great places to call home for under $600K.For example, this one-bedroom condo in the <a href="https://strata.ca/toronto/152-annette-st-victoria-lofts" target="_blank">Victoria Lofts</a>. It&rsquo;s located in a 19th-century church loft conversion at 152 Annette St.This condo is a rare find, with only 34 units in the entire building, offering a distinctive living experience in one of Toronto's most sought-after neighbourhoods.With soaring ceilings, a 12-foot-wide living and dining area, and an abundance of natural light &mdash; this 588 square-foot, open-concept layout seamlessly connects the living, dining, and kitchen areas.The kitchen boasts modern appliances and sleek finishes. While the bathroom features contemporary fixtures and a spa-like ambiance. This property is listed for $599,900 and condo fees are about $562 a month.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/206/250 Manitoba-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/206/250 Manitoba.png"/><img src="https://media.strata.ca/article-images/206/250 Manitoba.png" alt="null"/></picture><a href="https://strata.ca/toronto/250-manitoba-st-the-warehouse-lofts-mystic-pointe/unit-634" target="_blank">250 Manitoba St S, Unit 634</a>If you&rsquo;re into hard lofts, this one in <a href="https://strata.ca/toronto/250-manitoba-st-the-warehouse-lofts-mystic-pointe" target="_blank">The Warehouse Lofts</a> is beautiful. The stunning two-storey space has been professionally designed and renovated to perfection. Breathtaking, light-filled living areas boast soaring 17-foot ceilings, creating an airy and spacious feel.The primary bedroom overlooks a serene rooftop terrace filled with lush greenery, offering a peaceful retreat. You can wake up to a sun-drenched south-facing view of Lake Ontario and you&rsquo;re steps away from the brand-new multi-use Grand Avenue Park, which includes a large dog park.The loft has one-bedroom and two bathrooms and is listed for $599,999.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/206/412 Jarvis-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/206/412 Jarvis.png"/><img src="https://media.strata.ca/article-images/206/412 Jarvis.png" alt="null"/></picture><a href="https://strata.ca/toronto/412-jarvis-st-windsor-lofts/unit-105" target="_blank">412 Jarvis St, Unit 105</a>If you&rsquo;re looking for something unique with charm and character, that can be tricky to find. However, this one-bedroom condo is cute as a button.It&rsquo;s located in the <a href="https://strata.ca/toronto/412-jarvis-st-windsor-lofts" target="_blank">Windsor Lofts</a>, a charming five-storey residence that has New York brownstone vibes.Listed for just $549,000 this one-bedroom, one-bathroom condo was just renovated last year. It got new vinyl floors, a new bathroom and kitchen with new counters, backsplash, and stainless steel appliances &mdash; including a new over-the-counter microwave.And with only 30 units in the building, residents can enjoy a quaint atmosphere and a pet-friendly policy. But for those moments you&rsquo;re craving some liveliness, you&rsquo;re just steps away from <a href="https://strata.ca/toronto/downtown/the-village/condos-for-sale" target="_blank">The Village</a> in Toronto's busy Church Street Corridor.

Homes for Sale In The GTA Under $600K

Ah suburbia, where lawns are greener, streets are quieter, and minivans reign supreme. But living in the burbs isn't just about picket fences and cul-de-sacs; it's a lifestyle that can greatly impact your life in unexpected ways.So before you pack up and move, it&rsquo;s important to look at the potential pros and the cons.<h2>The Commute Conundrum</h2>Most people are hesitant to move to the suburbs because they think they will spend their life battling traffic.<a href="https://www.bloomberg.com/news/articles/2019-10-30/what-time-use-data-says-about-cities-vs-suburbs" target="_blank">But research actually shows</a> that it&rsquo;s the urbanites who spend more time commuting to and from work. Plus with many jobs becoming remote or hybrid, the commute thing isn&rsquo;t such a big deterrent.One point &mdash; Suburbs.<h2>Lawns, Gardens, and Greenery</h2>At first glance, suburbanites appear to take their lawns very seriously. <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6334070/" target="_blank">Studies suggest</a> that having a well-maintained lawn can positively impact your mental health.There's something therapeutic about mowing the lawn on a Saturday morning or planting flowers in your garden. It's not just about aesthetics, either. This is a hands-on way to connect with nature and build a sense of pride in your home.Two points &mdash; Suburbs.<h2>Community Connections</h2>We know that community is key when it comes to feelings of happiness and a sense of belonging. And while some suburban neighbourhoods can mean being part of a tight-knit community, that&rsquo;s not always the case.<a href="https://www.businessinsider.com/why-suburbs-are-bad-2016-9" target="_blank">Articles exploring</a> the reasons behind why many people feel sad in the suburbs note the absence of clearly-defined communal areas and a lack of organic cohesion. This ultimately highlights the challenges of socializing in a sprawling environment.As David Roberts writes in Vox: &ldquo;The neighbourhoods are made for cars, not kids. So kids stay inside playing Xbox, and families don't leave their homes unless it&rsquo;s to drive somewhere.&rdquo;Research also shows it&rsquo;s those random run-ins and spontaneous chats that really grease the wheels of friendship, especially as we grow older. But the sprawling &lsquo;burbs make that repeated spontaneous contact very challenging.One point &mdash; City.<h2>Health</h2>But it's not just our mental health taking a hit from suburban living. A bunch of studies have shown it can also mess with your physical health.For example, there was this <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1448496/" target="_blank">study back in 2004</a>. It found that folks living in places with more urban sprawl were more at risk for being overweight or obese.<a href="https://www.webmd.com/women/news/20040927/suburbs-may-be-hazardous-to-your-health#1" target="_blank">Another study</a> showed that people in spread-out suburban regions reported more health problems, including high blood pressure, arthritis, headaches, and trouble breathing, compared to those in urban spots.And get this: Even after the researchers factored in things like age, income, race, and local environment &mdash; the connection between suburban life and health issues remained.Two points &mdash; City<h2>School Daze</h2>Families often move to the suburbs to get access to better education. After all, studies show that access to quality education is a significant factor in choosing suburban living.However, in Canada <a href="https://peopleforeducation.ca/new-report-reveals-geographic-divide-in-ontario-schools/" target="_blank">city schools and suburban schools</a> are pretty much on par. In Ontario, education funding follows a provincial formula. A significant portion of this funding is based on student enrolment, and aims to ensure equal educational opportunities for all students.Let&rsquo;s call this one a draw.<h2>Retail Therapy, Suburban Style</h2>The suburbs are known for big-box stores and strip malls. And while they may look cooker-cutter, research does suggest that the convenience of having everything from groceries to electronics in close proximity can significantly reduce stress levels.So, embrace the ease of one-stop shopping and revel in the convenience.Also, even though things might be more spread out there&rsquo;s still always online shopping.3 - 2, Suburbs.<h2>Quiet Nights and Starry Skies</h2>Probably the biggest pro to suburbs is that there&rsquo;s way less noise than the inner city.Every day, noise pollution messes with millions of people, mainly by impacting their hearing. But loud noises can also trigger things like <a href="https://education.nationalgeographic.org/resource/noise-pollution/#" target="_blank">high blood pressure, heart issues, irregular sleep, and extra stress</a>.Research also shows that kids who live near noisy areas (like airports or congested streets) are more likely to struggle with memory, focus, and reading.On the other hand, living in a quieter environment can contribute to better sleep and overall well-being. So, trade the sirens for crickets and city lights for starry skies. Your evenings may become a peaceful retreat from the chaos of the day.4 - 2, Suburbs.Ultimately, living in the suburbs is more than just a geographical change. It's a lifestyle that shapes your daily routine and influences your well-being. So whether you're a seasoned suburbanite or contemplating a move, embrace the perks of life in the 'burbs.

How Living In The Suburbs Can Shape Your Life

With the ongoing affordability issues in GTA real estate, the charm of compact-living is perhaps the next big thing. If this continues, we may see a surge in the popularity of tiny homes.A tiny home, by definition, is just 400-square-feet or less.These quaint, cozy dwellings offer a unique blend of affordability and sustainability &mdash; captivating the imagination of homeowners seeking a simpler, more intimate lifestyle. So from sleek modern designs to rustic retreats, here are the cutest tiny homes for sale in the GTA right now.<a href="https://strata.ca/hamilton/28-agincourt-avenue-l8h-3m3" target="_blank">28 Agincourt Avenue</a>This little blue treasure is listed for $478,000, and is a delightful 2-bedroom detached bungalow in <a href="https://strata.ca/hamilton/industrial-sector-e-and-mcanulty" target="_blank">Hamilton's Industrial Sector</a>. It&rsquo;s move-in ready with updated electrical, new flooring, and a fresh coat of paint. Recent upgrades include freshly-installed windows, a newer roof, plus a fully renovated bathroom and kitchen. It also has the cutest back garden with a shed and swinging bench.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/28 Agincourt-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/28 Agincourt.png"/><img src="https://media.strata.ca/article-images/203/28 Agincourt.png" alt="null"/></picture><a href="https://strata.ca/toronto/23-greenvale-terrace-m1e-2b7" target="_blank">23 Greenvale Terrace</a>This tiny home in <a href="https://strata.ca/toronto/scarborough" target="_blank">Scarborough</a> is filled with charm and character. From the stone fireplace to the tree-filled yard, it&rsquo;s like a cottage in the city. The two-bed, two-bath home is listed for $900,000, and presents several options. You can either move in, renovate, or tear it down and rebuild.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/23 Greenvale Terrace-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/23 Greenvale Terrace.png"/><img src="https://media.strata.ca/article-images/203/23 Greenvale Terrace.png" alt="null"/></picture><a href="https://strata.ca/oshawa/166-celina-street-l1h4n5" target="_blank">166 Celina Street</a>Located in <a href="https://strata.ca/oshawa/downtown-oshawa" target="_blank">downtown Oshawa</a>, this tiny home has two-bedrooms, one-bathroom and is close to a ton of neighbourhood amenities. It also has a finished basement with another full washroom and bedroom. A wonderful surprise is the private backyard, featuring a spacious covered deck. This home is currently listed at $649,900.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/166 Celina Street-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/166 Celina Street.png"/><img src="https://media.strata.ca/article-images/203/166 Celina Street.png" alt="null"/></picture><a href="https://strata.ca/hamilton/7-craigmiller-avenue-l8l3h9" target="_blank">7 Craigmiller Avenue</a>This cutie-petootie in Hamilton just dropped its price by $30K to $469,900. It&rsquo;s a recently renovated two-bedroom home with generously sized principal rooms, a contemporary kitchen, and abundant storage in the basement. It also has a fenced rear yard, offering plenty of room for children or pets to roam.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/7 Craigmiller Avenue-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/7 Craigmiller Avenue.png"/><img src="https://media.strata.ca/article-images/203/7 Craigmiller Avenue.png" alt="null"/></picture><a href="https://strata.ca/georgina/79-dunkirk-avenue-l0e1r0" target="_blank">79 Dunkirk Avenue</a>Nestled on a tranquil, secluded lot at the end of a quiet street in <a href="https://strata.ca/georgina" target="_blank">Georgina</a> lies this charming family cottage. Boasting approximately 400 square feet of cozy living space, this retreat offers both privacy and serenity. The home is actually a studio loft with one bathroom. Not to mention, it&rsquo;s just a short walk away from Lake Simcoe. Local residents can also enjoy exclusive access to a private beach and dock.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/79 Dunkirk Ave-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/203/79 Dunkirk Ave.png"/><img src="https://media.strata.ca/article-images/203/79 Dunkirk Ave.png" alt="null"/></picture>

Cutest Tiny Houses For Sale Around The GTA Right Now

So, you've decided to embark on the epic adventure of finding the perfect spot to call home in the Greater Toronto Area.Whether you're looking to <a href="https://strata.ca/toronto?ownershipPreference" target="_blank">buy your dream home</a> or secure a <a href="https://strata.ca/toronto/homes-for-rent?ownershipPreference" target="_blank">cozy rental</a>, there's a little three-digit number that might just be the key to unlocking those doors &mdash; your credit score.Now, we know what you're thinking: &quot;Credit scores? Can't I just flash a charming smile and a winning personality to get the place I want?&quot; Well, as much as we'd all love to believe in the power of charisma, the reality is that your credit score plays a very significant role in the GTA real estate game.<h2>The Credit Score Chronicles</h2>Imagine your credit score as a financial report card. It's a number that ranges from 300 to 900, and essentially tells both lenders or landlords how trustworthy you are with money. And ultimately: The higher, the better.In Canada, credit scores are typically categorized, ranging from poor to excellent, as follows:<ul><li>Poor: 360 &ndash; 580</li><li>Below Average: 580 &ndash; 640</li><li>Fair: 640 &ndash; 700</li><li>Good: 700 &ndash; 750</li><li>Excellent: 750 &ndash; 850</li></ul>So, how does this mystical number affect your personal quest for a nice place in the GTA?<h2>Buying a Home: The Credit Conundrum</h2>If you're ready to take the plunge into homeownership, your credit score is like a golden ticket to the real estate chocolate factory.In Ontario, the minimum score you need to be approved for a mortgage is 680. But a higher credit score typically means you'll have access to lower interest rates on your mortgage. And that translates to paying less money in the long run. It's like getting an indirect discount on the biggest purchase of your life &mdash; who wouldn't want that?Additionally, your credit score can also affect how much cash you must put down at the start when dealing with a lender. That down payment size? It's a big deal, since it determines whether you're diving into the world of private mortgage insurance (PMI). And, if you are, how many bucks you'll be shelling out.<h2>Renting in the GTA: Credit is the New Cool</h2>Now, let's talk about the rental scene. Your potential landlord may not be as interested in how many followers you have on Instagram. But they sure as heck care about your credit score. Why? Because it's a sneak peek into your financial responsibility.<a href="https://strata.ca/blog/rental-red-flags-detecting-and-dodging-listing-scams" target="_blank">Renting a place</a> in the GTA is competitive, and landlords want to be sure you won&rsquo;t flake on the rent or turn their pristine property into a wild house party venue.A solid credit score can be your secret weapon. It shows landlords that you're on top of your financial game, paying bills on time, and generally being a responsible adult.Achieving a credit score of 700 or above is considered favourable in the eyes of landlords. But if your score falls below this mark, there are some things you can do to enhance your appeal as a potential candidate.When landlords conduct a credit check, it's crucial to understand that they&rsquo;re not only looking at the numerical score. They delve into specific details outlined in your credit report, extracting vital financial details, including:<ul><li>Your payment history for existing credit accounts (and any reported late payments)</li><li>Presence of outstanding debts, such as loan or credit balances</li><li>Your debt-to-income ratio, with landlords generally favouring applicants who earn three to four times the asking rental amount</li><li>Any accounts in collections</li><li>Public records, noting bankruptcies and consumer proposals</li></ul>Being aware of these finer points can empower you to present a well-rounded financial profile, even if your credit score doesn't meet the coveted 700 benchmark.<h2>Credit Score Hacks</h2>Now that we've established the importance of your credit score in the GTA real estate escapade, let's talk about boosting that three-digit wonder.1. Pay Your Bills On Time: Timeliness is key. Set up those automatic payments, and watch your credit score bask in the advantages of punctuality.2. Keep Those Balances Low: Credit cards are like that tempting slice of cake &mdash; enjoy in moderation. Keeping your credit card balances low compared to your credit limit can do wonders for your score. Your credit utilization rate is one of the most significant factors. So keep this rate at 30% or under to maximize your credit score.3. Mix It Up: A diverse credit mix is like having a well-balanced diet for your financial health. Credit cards, loans, and other forms of borrowing can contribute positively to your score.4. Regularly Check Your Credit Report: Think of this as giving your financial health a check-up. Look for any errors or discrepancies that may be dragging your score down.

Beyond The Numbers: How Credit Scores Impact Your Real Estate Journey

The mere thought of transforming a shabby house into a dream home feels like starring in your personal HGTV show. But before you dive headfirst into this thrilling endeavour, it&rsquo;s important to be aware of the notorious &lsquo;money pit&rsquo;.Firstly, fixer-uppers can be a mixed bag of surprises. Sure, they boast potential charm and the promise of customization. But they also have a knack for springing unexpected expenses like a jack-in-the-box. So here's a trusty guide on how to dodge the money pit, and make your fixer-upper dreams a reality.<h2>Inspect, Inspect, Inspect!</h2>The mantra of successful fixer-upper aficionados worldwide should be: &quot;Inspect every nook and cranny.&quot; Get an inspection from a reliable professional. We're talking about uncovering all the skeletons in that home's closet.Check the roof, plumbing systems, electrical work, plus the heating and cooling systems. You should also look out for things like bad paint jobs or signs of rotting. Cracks can also be a sign of hidden structural problems.And while getting an inspection and looking for these signs may keep you from buying a property with serious problems, just know that some things aren&rsquo;t revealed until you begin renovating &mdash; which leads us to our next point on budgeting.<h2>Budget Like a Pro</h2>Think of your budget as a sturdy ship navigating the unpredictable waters of renovation.Overestimate expenses, set aside a contingency fund, and don't forget about the unglamorous (but necessary costs) like permits and taxes. Sticking to a realistic budget is your life vest in the construction sea.Other things you may want to consider are things like floor plans. When looking at fixer-uppers, find something with a floor plan you can live with. Moving load-bearing walls is a very expensive job, so invasive renos like this are generally to be avoided.<h2>Prioritize, Prioritize, Prioritize!</h2>Before you go swinging hammers and knocking down walls, create a renovation plan.Identify what needs immediate attention versus the nice-to-haves. For example, fixing that leaky roof before installing a jacuzzi. Prioritizing will spare you from drowning in simultaneous projects or financial troubles.<h2>DIY vs. Contractor Dilemma</h2>Ah, the eternal debate! To DIY or not DIY?Here are the basics: If you're a seasoned DIY wizard with the skills to wallpaper blindfolded, then go for it! But for complex tasks or if the idea of wielding a power tool is daunting, hire a reliable contractor. Ultimately, it's worth avoiding a renovation disaster.Meanwhile, if you're planning renovations that change how your home is structured, you'll likely need a building permit from the City. They'll check in at different stages to make sure everything meets the municipality&rsquo;s building codes.When you eventually do sell, buyers eyeing your house may ask about the renovations. They'll want reassurance that all the work was done to code, so keeping those permits handy is a smart move.Finally, if you're doing the work yourself to save cash, it's smart to chat with a contractor before committing. A seasoned renovator might offer tips to cut costs, without compromising on quality. They could suggest where you could DIY, like painting or wallpapering, while leaving the trickier tasks to the professionals. Going this route may still save you a lot of money.<h2>Resale Potential vs. Personalization</h2>It's a balancing act between increasing resale value and creating your dream space. If possible, go for renovations that enhance both. For example, a fresh coat of neutral paint or upgraded fixtures can appeal to future buyers &mdash; while still reflecting your personal style.It&rsquo;s also worth thinking about how long you will live in the house. Will you be in it for less than 10 years? If so, then pick things that will up the resale potential.On the other hand, if this is your forever home, do whatever you please. Chances are by the time you sell it, you&rsquo;ll have already changed the aesthetics a few times. Nothing is permanent.<h2>Patience is a Virtue</h2>Renovations take time, like a slow-cooked stew simmering to perfection. It's easy to get caught up in the rush for completion, but patience is your ally. Rome wasn't built in a day, and your dream fixer-upper won't magically transform overnight. Try to enjoy the process; it's all part of the adventure!<h2>Final Thoughts</h2>Buying a fixer-upper is a thrilling journey. Although, dodging the money pit requires strategy, planning, and a dash of optimism. Embrace the challenge. But be armed with knowledge and a reliable toolkit.With the right approach, that fixer-upper can morph into the haven you've always dreamed of, minus the monetary sinkholes.

Should You Buy a Fixer-Upper? How To Avoid a Money Pit

Entering real estate can often feel like stepping into a foreign land where you don&rsquo;t understand the language. From complex terminology to industry-specific acronyms, all of it can be hard to navigate.But learning this language is crucial in making smart decisions. Whether you&rsquo;re a first-time homebuyer or seasoned investor, understanding the following terms is key to unlocking the doors to your dream property.<h2>Appraisal</h2>Definition: A professional assessment of a property's valueBefore diving into the intricate world of purchasing real estate, familiarize yourself with the concept of appraisal. It's crucial to know the appraised value, as it determines the maximum amount a lender will loan for the property.<h2>Appreciation</h2>Definition: The increase in a property&rsquo;s value over time.Understanding this concept is important for long-term investment decisions. It serves as a key indicator of the property's growth in worth, directly impacting the potential return on investment. For long-term real estate investors, a property's appreciation can signify increased equity, capital gains, and the overall profitability of their investment over the years. This understanding can help you choose properties with better potential for growth, and strategize their financial plans to maximize returns in the future.<h2>As Is, Where is</h2>Definition: Signifies the sale of a property in its present condition, absolving the seller from any obligation to make repairs or modifications, and transferring all responsibility for the property's condition to the buyer.This term is commonly used in real estate transactions to describe a property's condition at the time of sale. It implies that the seller is offering the property in its current state, with zero intention to make repairs or alterations. Essentially, the buyer accepts any present faults or issues. They also <a href="https://strata.ca/blog/7-things-to-consider-when-buying-your-first-home" target="_blank">assume all risks</a> associated with the property's condition.<h2>Buyer's Market/Seller's Market</h2>Definition: Describes the balance of power between buyers and sellers in the current housing economyIn a buyer's market, the conditions favour buyers over sellers. This situation typically happens when there is a surplus of available properties, compared to the number of active buyers. In this scenario, buyers have more negotiating power as there are many options available to them. Prices will often come down, and sellers may be more willing to compromise on terms, such as closing date.On the flip side, a seller's market happens when there's a shortage of properties available for sale. In this situation, sellers have the upper hand. There are fewer homes on the market, thus high demand will often drive prices up. Sellers may receive multiple offers, leading to bidding wars and less willingness to negotiate on terms or pricing.<h2>Closing</h2>Definition: The final phase of mortgage loan processing, in which the property title passes from the seller to the buyer.The closing process in a real estate transaction involves many critical steps that must be completed before the property officially changes ownership. The various procedures include finalizing the sale agreement, completing inspections, securing financing, and transferring funds. Clearly understanding the steps involved will ensure a smooth and successful closing.<h2>Closing Costs</h2>Definition: The fees and expenses associated with the purchase or sale of a property.The financial side of real estate deals can be overwhelming, especially when it comes to closing costs. These encompass a range of expenses, such as legal fees, title insurance, land transfer tax and various administrative charges. Being aware of these costs will help in financial planning and prevent any last-minute surprises. Be prepared to budget between 3% and 4% of the purchase price of a home.<h2>Condo Fees</h2>Definition: Also known as maintenance fees, they represent the recurring charges paid by condominium owners to cover building repairs, operational costs, and shared amenities.Condo fees can significantly impact a buyer's monthly expenses and overall affordability. So budgeting for this is crucial. Higher condo fees may be associated with a higher-end building that has luxurious amenities. Or it could signify inept management or upcoming major repairs.Strata agents always recommended a review of the condo's financial statements and reserve fund to ensure the building is well-maintained and financially stable. Also, comparing condo fees across different buildings and understanding how they align with the services offered is key to making an informed decision.<h2>Contingencies</h2>Definition: Conditions that must be met for a real estate transaction to proceed, such as passing inspections or securing financing.Buyers can include contingencies in their offer. And if these conditions aren&rsquo;t fulfilled, the buyer is allowed to exit the deal without penalty. Some contingencies include financing (securing a mortgage), home inspection, or sale of the buyer's existing home.<h2>Down Payment</h2>Definition: The initial payment made by the buyer when purchasing a property, typically a percentage of the total purchase price.When it comes to buying a property, the down payment plays a significant role. Typically, the minimum down payment required depends on the property's purchase price. For instance, in Canada, properties below $500,000 require the minimum down payment of 5%. For properties between $500,000 and $999,999, the first $500,000 requires a 5% down payment. And any amount above that requires a 10% down payment. Properties priced at $1 million and above demand a 20% down payment.In Toronto's competitive market, where <a href="https://www.blogto.com/real-estate-toronto/2023/10/toronto-home-prices-above-average-household-income/" target="_blank">property prices often exceed national averages</a>, the down payment can be a significant hurdle for many potential buyers. But it&rsquo;s worth noting that if you&rsquo;re a first-time homebuyer in Ontario &mdash; you may be eligible for various incentives, such as the First-Time Home Buyer Incentive, Land Transfer Tax Rebate, or the Home Buyers' Plan (HBP) that allows you to use RRSP savings for a down payment.<h2>Equity</h2>Definition: The difference between the property's market value and the outstanding mortgage balance.Understanding equity in the context of real estate is essential for both buyers and sellers. Equity represents the ownership value that an individual has in a property. As the mortgage balance decreases or the property value appreciates, the equity in the property increases, making it a valuable asset for the owner.Equity also plays a vital role in the financial well-being of homeowners. It serves as a form of savings that can be accessed through means like home equity loans or lines of credit. Additionally, it can be a source of financial stability or even a fund for future investments.<h2>Title</h2>Definition: Legal ownership of a property.The legal concept of title signifies ownership of a property. It involves examining public records to confirm the property's ownership history and ensure there are no outstanding liens or legal issues that could impact the transfer of from seller to buyer. Title insurance is always purchased to protect against any undiscovered issues that might arise after the sale, such as unknown liens or legal claims against the home.<h2>Heritage Designation</h2>Definition: Refers to the legal recognition and protection of a property or area due to its historical, cultural, or architectural significance.A heritage designation typically places restrictions or guidelines on any changes to the property. This ensures the preservation of the home&rsquo;s unique and valuable characteristics for future generations.When buying a house with a heritage designation, there are a few critical points to consider. For example, you want to be aware of the regulations governing renovations to preserve the property's historical integrity. You can also expect longer approval processes for any modifications, which could delay your reno plans.The above terms are the foundation to ensuring a smoother and more successful home-buying journey. But if you ever need a hand understanding real estate jargon, <a href="https://strata.ca/agents" target="_blank">a Strata realtor</a> is always here to help.

Decoding Real Estate Jargon: Essential Terms Every Homebuyer Should Master

Living in the GTA means coming to terms with a real estate market that&rsquo;s as wild as the Leviathan at Canada&rsquo;s Wonderland.During the COVID-19 pandemic, housing prices <a href="https://strata.ca/blog/gta-condo-sales-in-march-were-highest-theyve-been-in-2-years;-demand-to-outpace-supply-until-early-summer" target="_blank">hit record-highs</a>. But in the backhalf of 2023, real estate prices started declining while inventory began to surge.The rental market has been equally dynamic, with the average monthly lease skyrocketing by double-digits year-over-year. But as many agents had noted, that kind of momentum was unsustainable. Thus we&rsquo;re now seeing rental prices come down over the past six months.However, if you&rsquo;ve decided to make GTA your home, the question becomes whether to rent or to buy. So what should you consider when deciding between homeownership and the simplicities of tenancy?<h3>Financial Thrills and Spills</h3>Well, the biggest consideration is money.&ldquo;It really comes down to how much today&rsquo;s interest rates affect you, and how much money you have saved up for a downpayment,&rdquo; says <a href="strata.ca" target="_blank">Strata.ca</a> realtor Osman Omaid.In short, if you've got a piggy bank bursting with bills, the scales might tip towards the buy side. But if your downpayment screams pocket change, Omaid is waving the rental flag.But he also points out that you must take the current market realities into consideration.<h3>Market Trends: The Unpredictable Weather Report</h3>Even if you do have a decent downpayment, you&rsquo;ll still want to think through your purchasing journey.&ldquo;With interest rates and inflation being what they are, the market trajectory is largely uncertain at this moment. This is why so many buyers are on the sidelines. If there's no pressing reason to buy right at this moment, then don&rsquo;t force yourself just for the sake of it.&rdquo;But on the flipside, if you have a decent pre-approval and must move out, now is the time to find yourself some good value as prices trend downwards. You can then ride the appreciation wave upwards once the market picks up.Although, you&rsquo;ll need to be in it for the long-term gains.&ldquo;Most likely, appreciation won't go up in the coming months. But property values will rise in the general future,&rdquo; Omaid explains.And that&rsquo;s another big consideration when it comes to choosing between buying or renting in the GTA &mdash; how long are you willing to stay in one place?<h3>Flexibility and Long-Term Plans</h3>Only here for university or a temporary work opportunity? Renting is perfect. Jetting off to Europe next month so you can try your hand at being a pastry chef? No problem.&ldquo;Selling a property can take time and may not be as liquid as other investments &mdash; especially in today's climate where some properties are sitting for over 30 days on market&rdquo; warns Strata agent Michael Fawcett.&ldquo;Purchasing a property also requires a big financial commitment, including closing costs, and ongoing mortgage payments. I always tell my clients to buy, only if you can afford to hold onto that home for a minimum of five years.&rdquo;And as another Strata realtor, Jenelle Tremblett, says, &ldquo;Renting is better if you can&rsquo;t commit. All you need to provide is two months&rsquo; notice to move out. You don't need to worry about selling or leasing the place while you&rsquo;re gone.&rdquo;<h3>Location, location, location</h3>If planting roots in the GTA is your long-term plan, you&rsquo;ll want to make sure choosing the right neighbourhood in which to settle.&ldquo;Sure you can buy in your less-than-ideal area and save $50,000. But do you actually want to live there day-to-day? So many people forget that you don't need to think like an investor would. You can focus on the walkability of a neighbourhood, or whether it offers good transit &mdash; whatever your criteria may be,&rdquo; explains Tremblett.But hey, for those not keen on property marriage but still want a slice of the real estate pie, Tremblett <a href="https://strata.ca/blog/should-you-buy-a-property-even-if-its-fractional-ownership" target="_blank">suggests REITs</a>. It's like buying a share of that fancy condo, but without committing to it forever.<h3>Maintenance and Responsibilities</h3>Speaking of commitment, all relationships require work. But some more than others. Renters can rejoice with zero worries about leaky faucets, crumbling walls or broken appliances.&ldquo;It's a dream for many people like myself. I do not want to be worried about maintenance issues or repairs. As a tenant, you always know what you're paying per month,&rdquo; says Tremblett.Homeowners, on the other hand, must buckle up for potential roof dramas, plumbing calamities, and other unexpected expenses.Yet, sometimes carefree living can feel hollow. As Fawcett hints, &ldquo;Renting may feel like tossing money into a pit, while homeowners build their equity with each mortgage payment.&rdquo;

Renting vs. Buying: A Rollercoaster of Pros and Cons

In a notable twist for the Toronto real estate market, downtown condos have dipped below $1,000 per square foot (PSF) for the first time since January 2021. Right now, condos here are selling for roughly $999 PSF &mdash; a significant change, largely driven by a series of interest rate hikes and a cost-of-living crisis that continues to squeeze Canadian households.Declining condo prices in the downtown core certainly imply that the market is slightly more affordable than it was during the pandemic-induced frenzy that saw housing prices soar. But for many buyers, property values would need to come down further to offset the higher cost of borrowing.There are many cautious buyers waiting on the sidelines, creating pent-up demand that must eventually be released. And with many economists predicting the Bank of Canada will begin cutting interest rates in 2024, the concern is that many buyers will rush back into the market, forcing us to relive those competitive months of early 2022. That&rsquo;s when virtually every property was attracting five to 10 offers, selling well above asking.Adding to the complexity, Toronto&rsquo;s housing shortage still persists. This is further exacerbated by several pre-construction projects stalled this past year. Needless to say, as we head into 2024, Ontario faces a difficult road to hitting its goal of building 1.5 million new homes by 2031.For instance, recent changes to the urban boundaries of some municipalities means greater swaths of land are no longer available for housing. Market demand has consistently called for more single-family homes. But by not identifying land for infrastructure developments (and not building them now), Ontario has little hope of ever hitting its housing targets. Thus, the scarcity challenge continues, with slim chance of bringing real estate prices down to more affordable levels.For pre-approved buyers, the fact that downtown condos are now selling below $1,000 PSF may signal a rare moment of opportunity. After all, this is a notable decline compared to the market&rsquo;s peak in February 2022, when units downtown commanded a staggering $1,203 PSF.

Market Byte: Downtown Condo Prices Dip Below $1,000 PSF

Over the past several months, housing sales have slowed down considerably in Ontario and across Canada. But in some pockets of the GTA, the demand for residential properties remains high.These five regions have become the epicentre of rapid real estate transactions, showcasing a fervent market where properties are being purchased relatively quicker than the regional average.<h2>1. Ajax</h2>With an average of 16 days on the market, <a href="https://strata.ca/ajax" target="_blank">Ajax</a> is a town in Durham Region where houses are still in high demand.With its well-planned neighbourhoods, coupled with a range of housing options from modern townhouses to spacious single-family dwellings &mdash; Ajax is attractive for young families and retirees alike.Only 40 minutes outside of Toronto, Ajax has convenient access to major highways and the GO train. It&rsquo;s also the ideal mixture of suburban tranquillity and urban amenities &ndash; making it one of the fastest growing areas in Ontario. Meanwhile, the town's evolving landscape, marked by ongoing infrastructural developments and a thriving local economy, contributes significantly to the growing demand.Plus, Ajax is focused on becoming one of the most liveable and eco-focused areas in the GTA, so it&rsquo;s no wonder homes are getting snapped up despite the slower market.Also, it probably doesn&rsquo;t hurt that homes are more reasonably priced than Toronto. For example, you can get this <a href="https://strata.ca/ajax/114-warwick-avenue-l1z1l5" target="_blank">three-bedroom, four-bathroom home</a> for under $800K.<h2>2. Pickering</h2>In <a href="https://strata.ca/pickering" target="_blank">Pickering</a>, homes are selling within 18 days of coming on the market. Why? Well, there&rsquo;s a number of reasons.Firstly, Pickering offers an attractive mix of housing options, including modern condominiums, townhouses, and spacious detached homes &mdash; all catering to various tastes and lifestyles.Its strategic location near major highways and GO transit means this is a commuter's paradise, providing easy access to neighbouring cities plus downtown Toronto.Moreover, the city's commitment to sustainable development and ongoing revitalization projects, such as the waterfront development along Lake Ontario, amplifies its allure for prospective homebuyers.If you&rsquo;re looking for a good investment, this <a href="https://strata.ca/pickering/425-whitevale-road-l0h1m0" target="_blank">multi-purpose property</a>, listed for just over $2.5 million, is a unique find.<h2>3. Markham</h2><a href="https://strata.ca/markham" target="_blank">Markham</a> has been a growing city for many years now, and is currently one of the quickest selling regions with homes lasting only 20 days on the market.The blend of diverse offerings and a thriving community make Markham a beacon for professionals and families alike.Renowned for its innovative urban planning, this city offers a harmonious mix of residential neighbourhoods, commercial hubs, and green spaces. Its multicultural fabric also fosters a vibrant atmosphere, enriched by ethnic diversity. Markham's commitment to supporting tech innovation and business growth has also contributed to its desirability.Furthermore, its top-ranking schools, recreational facilities, and proximity to transit lines caters to diverse demographics &mdash; underpinning its status as a high-demand real estate market.Our favourite listing in Markham right now is this stunning Frank Lloyd Wright-inspired home that&rsquo;s <a href="https://strata.ca/markham/18-old-english-lane-l3t2t9" target="_blank">currently listed for $6.38M</a>.<h2>4. Uxbridge</h2><a href="https://strata.ca/uxbridge" target="_blank">Uxbridge</a> has carved a niche as a hub for swift home sales, with most properties selling within 26 days.Renowned for its picturesque surroundings, including sprawling farmlands, conservation areas, and tranquil trails &mdash; Uxbridge appeals to homebuyers seeking a serene retreat away from bustling city life.Take, for instance, this charming and character filled century-old farmhouse on six acres of lush land. It&rsquo;s <a href="https://strata.ca/uxbridge/2699-conc-2-l4a7x4" target="_blank">listed for $1.5M</a> and is a true sanctuary &mdash; it even has a lake in the backyard.And don&rsquo;t get us started on Uxbridge&rsquo;s <a href="https://discoveruxbridge.ca/historical-tour/" target="_blank">quaint downtown</a> which exudes historic charm, offering a range of boutique shops, cozy cafes, and local eateries. It&rsquo;s basically Stars Hollow.Also, Uxbridge's commitment to preserving its heritage while embracing modern development initiatives has attracted discerning buyers looking for a harmonious blend of tradition and contemporary living. Really it&rsquo;s no surprise that homes here are in relatively high demand.<h2>5. East Gwillimbury</h2>Rounding out the top 5 is <a href="https://strata.ca/east-gwillimbury" target="_blank">East Gwillimbury</a>, a little known region in York. Homes here are selling within a month, with listings on the market for an average of 28 days. Perhaps it&rsquo;s the serene and idyllic setting, spacious lots, scenic landscapes, and slow-paced atmosphere making it an attractive choice for homebuyers.For anyone seeking a peaceful lifestyle, without being too far from the city &mdash; just look at this adorable, updated century home sitting on 1.2 acres of land <a href="https://strata.ca/east-gwillimbury/2872-mount-albert-road-l0g1r0" target="_blank">listed for $950,000</a>.Plus with East Gwillimbury&rsquo;s ongoing development initiatives, a burgeoning local economy and a strong sense of community, it&rsquo;s easy to recognize the town's potential for both investment and quality living within the GTA.

Top 5 GTA Areas Still In Relatively High Demand

Buying your first property is monumental. It will probably be one of the biggest purchases, if not the biggest purchase, you&rsquo;ll ever make in your life. And with all the complexities of the GTA real estate market, navigating that first purchase can be overwhelming.But as Strata agent Kenan Yousef says: &ldquo;There is never a &lsquo;right time&rsquo; to buy your first home &mdash; only the right circumstances.&rdquo;Those circumstances primarily being whether you can afford the property, and if you even like it. However, there&rsquo;s a couple other things you might want to consider when embarking on this important journey.<h2>1. What&rsquo;s your actual budget?</h2>&ldquo;The most common mistake buyers make on their house hunt is not knowing their actual budget,&rdquo; says Strata realtor, Rajiv Gupta.Figuring out a realistic budget before you start looking is critical, so you don&rsquo;t end up putting an offer on something you can&rsquo;t afford.&ldquo;Buyers should have enough savings for the downpayment and closing costs,&rdquo; notes fellow agent, Upsham Kamboj.&ldquo;They must not only factor in the expenses involved in acquiring the property, but also keep some money separate to make repairs if needed,&rdquo; adds Gupta.Ultimately it&rsquo;s important to budget for things like legal fees, property taxes, land transfer tax, and moving costs &ndash; not just the house itself.In addition to having enough savings, it&rsquo;s also crucial to get pre-approved for a mortgage. This can give you a competitive edge, especially if you&rsquo;re competing against other offers. However, you do need to time that pre-approval just right.&ldquo;Never rush into a pre-approval if you&rsquo;re not committed to the process because those rates will eventually expire. And once they expire, you&rsquo;ll have to re-qualify all over again,&rdquo; warns Yousef.<h2>2. Who&rsquo;s going to help you?</h2>&ldquo;Another mistake [people] make is not using a realtor to help them,&rdquo; explains Gupta.&ldquo;People don't realize that the professional expertise of a realtor is at no cost to the buyer, and that it can save you from unfair negotiations or going into a purchase blind.&rdquo;A good agent will scour the GTA looking for homes that meet your needs, and could even bring you properties that haven&rsquo;t hit the market yet. However, it&rsquo;s important to pick the right realtor. We recommend collecting referrals from recent homebuyers, or interviewing a few agents (and requesting references) before committing to one.<h2>3. Where's the location?</h2>As the saying goes in real estate: Location, location, location.GTA neighbourhoods each have their quirks. So always consider where the home is situated, and whether it will suit your lifestyle over the long-term.For example, if the neighbourhood is walkable with amenities close by &mdash; this might be key if you don&rsquo;t own a car. And for young families, child-friendly areas in good school districts will likely influence your final decision.We suggest visiting a potential neighbourhood several times to get a feel for the community. Go at night, on the weekends, or random hours during the day. Check out what the parking situation is like, if the neighbours are noisy, and if the residents are looking after their lawns.Remember: You can change almost anything about a house, except for the location. So you better make sure you like it.<h2>4. What type of property?</h2>Do you want a condo, townhouse, bungalow, or something entirely different?Whatever your taste, it&rsquo;s important to think through the pros and cons of each. Not to mention what it means for your lifestyle and budget.For example, if you&rsquo;re buying a condo &mdash; you&rsquo;ll want to look into the cost of maintenance fees, the health of the board's reserve fund, and if they allow pets or Airbnbs.&ldquo;Condo buildings that permit Airbnbs may attract some noisy neighbours, or even reduce the safety of your building,&rdquo; comments Kamboj.On the other hand, if you&rsquo;re buying a heritage house, you&rsquo;ll want to know what you can and cannot do legally when it comes to renovations.<h2>5. What&rsquo;s the condition of the home?</h2>&ldquo;Buyers should be aware of properties that are sold on an 'as-is-where-is' basis. The property may have been neglected for a long time, requiring tons of work,&rdquo; warns Gupta. &ldquo;There could also be hidden issues in the mechanical or structural areas of the property.&rdquo;Meanwhile, adds Kamboj, &ldquo;Buyers should watch for homes that were renovated without a permit, as these properties can eventually come under scrutiny by the city.&rdquo;<h2>6. Are you enticed by unique features?</h2>&ldquo;Unique features may charm you into purchasing the property, but buyers must evaluate for themselves the practicality of such unique features as they may become an obstacle for resale,&rdquo; says Gupta.<h2>7. Any sign of pests?</h2>Gupta also adds, &ldquo;Another thing to check for are possible pest infestations. Generally, buyers go in for a house inspection. But I'd certainly encourage them to invest a little money for a pest inspection as well.&rdquo;

7 Things to Consider When Buying Your First Home

Luxury houses are certainly a dream. But what&rsquo;s even better is not having to think about mowing a lawn, shovelling the driveway, or missing a delivery because you were out when UPS tried to drop-off your Christmas package.Whether it&rsquo;s a penthouse in the sky with sweeping views of the city, or a small boutique building with charm and character &mdash; here are some of the most stunning and expensive condos on the market in Toronto right now.<a href="https://strata.ca/mls/c6035655" target="_blank">1 Bloor St W, Unit 8000</a>The most expensive condo for sale hasn&rsquo;t even been fully built yet. In case you weren&rsquo;t aware, there&rsquo;s been a lot of hype around <a href="https://strata.ca/toronto/1-bloor-st-w-the-one-condos" target="_blank">The One</a> condos with the building making headlines since 2017. The remarkable design elements, notably the exoskeleton, is an unprecedented achievement in Canadian structural engineering history. And the immense size of the building also holds its own impressive significance.Once construction is complete, this will be the tallest apartment building in Canada with 85-storeys. The top 23 floors are reserved for the 416 luxury condos, which promise to &ldquo;redefine&rdquo; luxury living.This is but one of seven units up for sale right now. And if the renderings are even half as good as what the real thing looks like, this will be a condo like no other. Although, you&rsquo;d expect nothing less after paying $31,620,000.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/1 Bloor 8000-600.webp" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/1 Bloor 8000.webp"/><img src="https://media.strata.ca/article-images/191/1 Bloor 8000.webp" alt="null"/></picture><a href="https://strata.ca/toronto/183-wellington-st-w-residences-of-the-ritz-carlton/unit-460203" target="_blank">183 Wellington St W, Unit 4602</a>There&rsquo;s a reason fancy things are associated with &lsquo;The Ritz&rsquo;. And what could be more ostentatiously luxurious than living in <a href="https://strata.ca/toronto/183-wellington-st-w-residences-of-the-ritz-carlton" target="_blank">The Ritz Carlton</a>? Listed for $23,500,000, this three-bedroom-plus-den and seven bathroom unit is the epitome of ritzy living. With 180 degree panoramic views, 10-foot ceilings, plus a wine cellar that holds 1,000 bottles &mdash; condos don&rsquo;t get any fancier. Not to mention all the amenities that come along with living in a hotel.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/183 Wellington St-600.webp" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/183 Wellington St.webp"/><img src="https://media.strata.ca/article-images/191/183 Wellington St.webp" alt="null"/></picture><a href="https://strata.ca/mls/c6094672" target="_blank">7 Dale Ave, Ph8</a>Listed for nearly $20M is this stunning two-bedroom, five-bathroom suite in the newly built No.7 condos. This boutique tower only has 26 units, so the chances of an annoying neighbour is very low.In addition to the stunning interiors that were thoughtfully designed to be a mix between modern and traditional, you can also enjoy sweeping views of the Rosedale ravine. As for amenities, the building offers a heated underground garage, private elevators, and 24-hour executive concierge. There&rsquo;s also a spa with an infrared sauna, steam room, top-of-the-line gym with Peloton, tonal yoga room, and private personal trainers. There is basically no need for any upgrades. But customization is available to tailor each residence to the buyer&rsquo;s taste.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/7 Dale Ave-600.webp" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/7 Dale Ave.webp"/><img src="https://media.strata.ca/article-images/191/7 Dale Ave.webp" alt="null"/></picture><a href="https://strata.ca/toronto/50-yorkville-ave-four-seasons-private-residences/1-unit-5202" target="_blank">50 Yorkville Ave, Unit 5202</a>Luxury condo or French palace? It&rsquo;s hard to tell in this incredible three-bedroom, four-bathroom unit inside the <a href="https://strata.ca/toronto/50-yorkville-ave-four-seasons-private-residences" target="_blank">Four Seasons</a>! The amount of character found inside is breathtaking. While it won&rsquo;t be everyone&rsquo;s style, you have to admire the attention to detail.From the crown mouldings to the marble mantle fireplaces and domed ceilings &mdash; this kind of opulence is only found in heritage residences. And if all that wasn&rsquo;t enough, the suite enjoys stunning views of Lake Ontario and the CN tower. You truly get the best of both worlds, but it will cost you just over $18M.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/50 Yorkville Ave-600.webp" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/50 Yorkville Ave.webp"/><img src="https://media.strata.ca/article-images/191/50 Yorkville Ave.webp" alt="null"/></picture><a href="https://strata.ca/toronto/118-yorkville-ave-the-hazelton/unit-703" target="_blank">118 Yorkville Ave, Unit 703</a>Gold embellishments, Italian marble heated floors, custom built-ins, solid wood panelling and six terraces are just some of the luxuries you can expect in this apartment. Listed for $13,800,000, this condo boasts three bedrooms, five bathrooms, and more than 6,000 square feet of living space. It&rsquo;s also in one of the most exclusive buildings in the city, <a href="https://strata.ca/toronto/118-yorkville-ave-the-hazelton" target="_b;ank">The Hazelton</a>.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/118 Yorkville Ave-600.webp" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/118 Yorkville Ave.webp"/><img src="https://media.strata.ca/article-images/191/118 Yorkville Ave.webp" alt="null"/></picture><a href="https://strata.ca/mls/c6743834" target="_blank">50 Scollard St, Unit 3501</a>50 Scollard hasn&rsquo;t been fully constructed, but the 41-storey tower at the corner of Bay and Scollard is shaping up to be the most show-stopping condo building in Toronto.&ldquo;It doesn&rsquo;t scream trend. It has timeless elegance and lines that will last forever,&rdquo; the building&rsquo;s principal designer, Alessandro Munge, told <a href="https://torontolife.com/real-estate/50-scollard/" target="_blank">Toronto Life</a>. There&rsquo;s been such a buzz about this condo that many of the units managed to sell before they broke ground. However, there are still some glamorous units available, including this one listed for $11,795,000.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/50 Scollard St-600.webp" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/191/50 Scollard St.webp"/><img src="https://media.strata.ca/article-images/191/50 Scollard St.webp" alt="null"/></picture>

The Most Expensive Condos In The Six Right Now

If you want to invest in real estate, but can&rsquo;t afford the 20% down payment &mdash; there are still several ways to get into the market.For example, there are real estate investment trusts, also known as REITs. These are usually publicly-traded companies that have a bundle of income-producing properties in which you buy shares. They&rsquo;re often used like stocks or bonds to diversify an investment portfolio.But if you&rsquo;ve been scrolling through listings &mdash; as one does when they dream of home ownership &mdash; you may have come across a nice-looking condo with an unusually low asking price that mentions &lsquo;fractional ownership&rsquo;.These types of listings are cropping up more frequently as this form of real estate investing becomes increasingly popular.So what is fractional ownership, and is it right for you?&ldquo;Properties, such as a detached house or a condo, can legally be owned under a corporation,&rdquo; explains <a href="www.strata.ca" target="_blank">Strata.ca</a> realtor Osman Omaid.&ldquo;Fractional ownership gives you a fractional share of the corporation, which owns one single property. Just like how you can buy, own, or sell shares from Apple and Tesla as corporations, you can also own a share in a corporation, which happens to own a property.&rdquo;Depending on the company, buying into a fractional ownership can start as low as a $50-per-year subscription, where you can invest as little as $1 into a property share.But to be clear, fractional ownership isn&rsquo;t like a timeshare, or co-ownership. You are not allowed to live in or use the property. What you do get though is some type of return on your investment.&ldquo;Every fractional ownership agreement can have different stipulations on how ROI is given back to the shareholders,&rdquo; says Omaid.For example, some companies offer a percentage of rental income relative to your investment. And when a property is sold, the appreciation is paid back to investors, who also get back their investment principal.Similarly, there are companies that sell shares in someone&rsquo;s downpayment, then pays out the proportion of appreciation back to investors. And that&rsquo;s in addition to the investors&rsquo; initial contribution when the home is sold or refinanced.&ldquo;You&rsquo;re able to reap the benefits of an appreciating property without the large capital downpayment or the monthly mortgage payment commitments,&rdquo; explains Omaid.You&rsquo;re also off the hook in paying for home expenses, maintenance, renovations, or dealing with tenants and rental arrears.However, fractional ownership is not without risk.&ldquo;The danger of fractional ownership is that your investment return is heavily dependent on the appreciation of the real estate market,&rdquo; says Omaid, who warns that property values don&rsquo;t always appreciate.&ldquo;This is also a new method of real estate investment, so there are no large scale examples or case studies to examine. The drawbacks are that the decisions, responsibilities, and liabilities are case-by-case dependent. It&rsquo;s not exactly clear how issues or disagreements would be mediated.&rdquo;Additionally, the investment is not as liquid as a REIT or regular share in a company. In many instances, you can&rsquo;t take your money out until the homeowner actually sells or refinances.So is fractional ownership a good idea? Short answer: Depends.If you&rsquo;re looking for a way to earn passive income or diversify your investments, it could be worth further consideration. But if you&rsquo;re looking for a traditional roof over your head, or a home for your family &mdash; fractional ownership isn&rsquo;t going to give you that.

Should You Buy a Property Even If It's 'Fractional Ownership'? 

Detached houses in the GTA, on average, are <a href="https://creastats.crea.ca/mls/treb-median-price" target="_blank">$1.36 million</a>. But there are still some properties listed well below that, if you&rsquo;re willing to move outside of the city core. And there are even some properties below the <a href="https://www.crea.ca/housing-market-stats/canadian-housing-market-stats/national-price-map/" target="_blank">Canadian average</a> of $709,218.Are they nice? Not really. Are they liveable? Debatable. Are they in good locations? Sometimes. But are they relatively cheap? Absolutely.And sometimes, cheap is all that matters. So without further ado here are the cheapest detached homes outside Toronto right now.<a href="https://strata.ca/ajax/12-burcher-road-l1s2p5" target="_blank">12 Burcher Rd</a> | Ajax | $749,888]Ajax is one of the fastest growing suburbs in Ontario and home prices just <a href="https://www.thestar.com/real-estate/home-prices/ajax-home-prices-climb-0-6-per-cent-to-1-million-april-2023/article_db84ffe8-1198-5a6e-b797-00a71ed3510d.html?" target="_blank">crossed the $1 million mark</a> in April, which means homes like this are going to become increasingly rare.This three-bedroom home in <a href="https://strata.ca/ajax/downtown-ajax/houses-for-sale" target="_blank">downtown Ajax</a> is listed for $699,800 and is sitting on a massive 94 by 107 foot lot. It has good size rooms, a finished basement and a huge backyard. It&rsquo;s actually a decent house except for the entirely green interior. But if you happen to film a lot of things using a green screen you wouldn&rsquo;t need to re-paint the house. So win, win.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/12 Burcher Rd-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/12 Burcher Rd.jpeg"/><img src="https://media.strata.ca/article-images/187/12 Burcher Rd.jpeg" alt="null"/></picture><a href="https://strata.ca/mls/x6653836" target="_blank">142 Isla St</a> | Markdale | $899,000Listed for $899,000, this is one of the pricier homes on the list, but it might just be the best bargain yet.142 Isla Street is a seven-year-old custom-built home with 2,000-square feet of living space on a large corner lot. What makes this a great deal is that when you look at the comparables, they&rsquo;re going for $1.15 million. So$900K is not too shabby. Also there&rsquo;s potential to make some extra coin off this property if you convert part (or all of it) into an Airbnb, and take advantage of tourists to Blue Mountain.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/142 Isla St Interior-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/142 Isla St Interior.jpeg"/><img src="https://media.strata.ca/article-images/187/142 Isla St Interior.jpeg" alt="null"/></picture><a href="https://strata.ca/newmarket/47-franklin-street-l3y4a3" target="_blank">47 Franklin St</a> | Newmarket | $519,900This charming century cottage-like home is just steps from historic <a href="https://strata.ca/newmarket/downtown-newmarket/houses-for-sale" target="_blank">downtown Newmarket</a>. Plus it even has a little stream in the backyard. So cute! The downside is ​​the property is being sold as is and no showings are allowed inside, which is risky on almost every level.However, when the home sold back in 2021 for $651,400, the listing mentioned the wiring, flooring and roof were all updated in 2021. The photos from 2021 don&rsquo;t look too bad either, so maybe it&rsquo;s worth the risk, especially if listed for only $519,900?<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/47 Franklin St-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/47 Franklin St.jpeg"/><img src="https://media.strata.ca/article-images/187/47 Franklin St.jpeg" alt="null"/></picture><a href="https://strata.ca/oshawa/472-nottingham-crescent-l1k2v6" target="_blank">472 Nottingham Cres</a> | Oshawa | $500,000If you don&rsquo;t mind living in the &lsquo;Shaw', there&rsquo;s actually a lot of affordable <a href="https://strata.ca/oshawa/houses-for-sale" target="_blank">houses for sale in Oshawa</a> &mdash; including this two-storey, three-bedroom home. It&rsquo;s nothing special. But it does offer decent-sized bedrooms, an open concept living and dining area, a garage, plus a spacious backyard. With a little TLC, this house could be a really special home. And it&rsquo;s only $500,000.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/42 Nottingham Interior-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/42 Nottingham Interior.jpeg"/><img src="https://media.strata.ca/article-images/187/42 Nottingham Interior.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/2-hilldale-road-m6n3y2" target="_blank">2 Hilldale Rd</a> | York-Crosstown | $649,999This two-bedroom, one-bathroom bungalow is not much of a looker. But it&rsquo;s on a 20 by 100-foot corner lot in Toronto&rsquo;s west end, just a few blocks north of <a href="https://strata.ca/toronto/west-end/the-junction/houses-for-sale" target="_blank">The Junction</a>. It has a relatively new roof and new windows, plus when the Eglinton LRT line comes in this property value is going to skyrocket. So it might only be $649,900 now, but could be worth a lot more. And considering most homes in the area are currently going for $1.08 million, if renovated or rebuilt, this house could be a real money maker.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/2 Hilldale Rd-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/187/2 Hilldale Rd.jpeg"/><img src="https://media.strata.ca/article-images/187/2 Hilldale Rd.jpeg" alt="null"/></picture>

5 Cheapest Detached Homes Outside Toronto

While most people would never be able to afford any of the houses in this list, it&rsquo;s still fun to look at how the one per cent live &mdash; or more like the 0.01 per cent.Whether it&rsquo;s an incomplete mansion next door to Drake or one designed by a leading mid-century visionary, the most luxurious and expensive homes in the GTA are awe-inspiring to some.<h2>24 Park Lane Circle</h2>Being <a href="https://storeys.com/drake-toronto-mansion-most-googled-houses" target="_blank">neighbours with Drake</a> comes at a steep price. <a href="https://strata.ca/toronto/24-park-lane-circle-m3b1z7" target="_blank">Listed for $45,000,000</a>, this nine-bedroom, 16-bathroom home in the <a href="https://strata.ca/toronto/north-york/bridle-path-sunnybrook-park/houses-for-sale" target="_blank">Bridle Path</a> is a mansion for the rich and/or famous. The home isn&rsquo;t yet complete, which means you&rsquo;ll have to add that personal touch. But then again, you&rsquo;d think for $45 million you&rsquo;d get a fully-finished house with furniture included, plus a butler whose only job is to make you snacks.However, the home is also listed at a &lsquo;deep discount&rsquo; of <a href="https://strata.ca/toronto/24-park-lane-circle-m3b1z7" target="_blank">$28,880,000</a>. It&rsquo;s strange that both listings are currently active, but the house has been on and off the market since 2021. So perhaps this is a realtor tactic to see who they can trick into paying a higher price?<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/24 Park Lane Circ-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/24 Park Lane Circ.jpeg"/><img src="https://media.strata.ca/article-images/185/24 Park Lane Circ.jpeg" alt="null"/></picture><h2>2275 Doulton Drive</h2>When you think of the most expensive homes in the world, most people probably picture something like 2275 Doulton Drive. It looks like a museum that meets Versaille, then meets the White House. It has intricate ceilings, 14-carat gold details, six bedrooms, 14 bathrooms, a 15-car garage, and all the other bells and whistles you would expect out of an almost $30 million mansion. This home has been on the market since 2019, where it was first listed for a whopping $50 million. But since then, it has been steadily dropping in price. It is currently <a href="https://strata.ca/mississauga/2275-doulton-drive-l5h3m2" target="_blank">listed for $29,900,000</a>.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/2275 Doulton Dr-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/2275 Doulton Dr.jpeg"/><img src="https://media.strata.ca/article-images/185/2275 Doulton Dr.jpeg" alt="null"/></picture><h2>88 Forest Heights Boulevard</h2>When it comes to building and designing luxury homes in Toronto, architect Richard Wengle is the master. He&rsquo;s specifically known around the GTA for his single-family luxury homes that have an understated elegance. 88 Forest Heights Blvd is a classic Wengle home with large principal rooms, soaring ceilings and impeccable construction. <a href="https://strata.ca/toronto/88-forest-heights-boulevard-m2l2k8" target="_blank">Listed for $29,800,000</a>, the six-bedroom, 11-bathroom North York home is reminiscent of a European villa with all the marble floors, plus a resort-worthy pool in the backyard.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/88 Forest Heights Blvd-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/88 Forest Heights Blvd.jpeg"/><img src="https://media.strata.ca/article-images/185/88 Forest Heights Blvd.jpeg" alt="null"/></picture><h2>103 Old Colony Road</h2>You know a house is fancy when it has artwork of itself. 103 Old Colony Road is a unique collaboration between famed architect and watercolour concept artist <a href="https://www.michaelmccannassociates.ca/about" target="_blank">Michael McCann</a> and designer and builder Lisa Mandel McCann.According to the realtor, the home pays homage to the one-acre of nature surrounding the home. <a href="https://strata.ca/toronto/103-old-colony-road-m2l2k3" target="_blank">Priced at $28,800,000</a>, the home has an almost Frank Lloyd Wright feel to it with all the use of natural materials, integrating the home into its surroundings. The property also has a tennis court, outdoor pool, spa, and so much hi-tech gear that you could never be bored.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/103 Old Colony Rd-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/103 Old Colony Rd.jpeg"/><img src="https://media.strata.ca/article-images/185/103 Old Colony Rd.jpeg" alt="null"/></picture><h2>30 High Point Road</h2>Designed by <a href="https://en.wikipedia.org/wiki/John_C._Parkin" target="_blank">John C. Parkin</a>, the leader in developing mid-century modern style in Canada, this home in the Bridle Path is one of Canada&rsquo;s most architecturally significant homes. The home itself is considered a masterpiece with soaring ceilings, plenty of natural light, a four-storey solarium, an indoor and outdoor pool. Meanwhile, there are so many more unique touches that you just have to look at the pictures to truly understand how stunning this home is. It also doesn&rsquo;t hurt that this property is sitting on an impressive 2 acres of land. This crown jewel of Canadian modern architecture is <a href="https://strata.ca/toronto/30-high-point-road-m3c2r3" target="_blank">listed for $28,000,000</a>.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/30 High Point Rd-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/185/30 High Point Rd.jpeg"/><img src="https://media.strata.ca/article-images/185/30 High Point Rd.jpeg" alt="null"/></picture>These homes are definitely the cream of the crop of GTA homes. But there&rsquo;s so many more out there that are easier on the budget, which could be just as perfect. That being said, if you could afford a $30 million mansion which one would you choose?

​​The 5 Most Expensive Homes Currently For Sale In The GTA

With rents going the way they are in Toronto, getting into the landlord game could be a really great move. However, buying an investment property to rent out isn&rsquo;t always as straightforward as one might assume.If you&rsquo;re interested in an investment property, there are a few things to consider. Of course, it&rsquo;s often about condition and location. But you&rsquo;ll also want to add a couple of other things to that list such as profitability, renovation costs, and whether it&rsquo;s already tenanted or not.One of the big things you&rsquo;ll want to make sure is that it&rsquo;s legally zoned to be a multi-residential property. This can be tricky and is dependent on bylaws, among other factors. These factors can include whether you plan to live in the building, and if the property has been granted an occupancy permit or compliance certificate.Your <a href="https://strata.ca/agents" target="_blank">Strata.ca realtor</a> can help you navigate that. But in short, you don&rsquo;t want to buy a multi-unit property &mdash; only to be shut down by the government because you&rsquo;re not legally allowed to rent out units.Another big consideration is financing.As long as there are less than four units, you may still qualify for a residential mortgage. But if you&rsquo;re over that limit, you&rsquo;ll need to get a commercial loan &ndash; which we won&rsquo;t get into here because we&rsquo;re focusing on <a href="https://strata.ca/toronto/houses-for-sale" target="_blank">houses for sale</a>, which rarely contain over four units.It&rsquo;s also worth noting that depending on the number of units, not all down payments are the same. Typically, the down payment is 20 per cent. But for a duplex you only need a minimum down of five per cent. For a triplex, you&rsquo;ll need 10 per cent.In other words, the barrier to entry for landlords isn&rsquo;t as high as one might expect.So with all that said, here are some of the best potential rental investments on the market today.<h2>This Fourplex in Cabbagetown</h2>Fourplexes are rare in Toronto. Right now, there are only two on the market &mdash; 256 Gerrard Street East being one of them.<a href="https://strata.ca/toronto/256-gerrard-street-east-m5a2g2" target="_blank">Listed for $2,199,900</a> in <a href="https://strata.ca/toronto/downtown/cabbagetown/houses-for-sale" target="_blank">Cabbagetown</a>, this is the better of the two for several reasons. One, it has a higher capital rate or &lsquo;cap rate&rsquo;. For the uninitiated, cap rate is simply the expected return on a real estate investment over one year. This fourplex has a five per cent cap rate, which is <a href="https://www.altusgroup.com/insights/canadian-cre-investment-trends/" target="_blank">above the average</a> for Toronto and within the <a href="https://wowa.ca/calculators/cap-rate-calculator#" target="_blank">four to 12 per cent margin</a> that&rsquo;s considered a good cap rate for investment.Additionally, the building has been well-maintained and renovated. Plus, there&rsquo;s potential to grow your investment if you decide to build a laneway property at the back of the house.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/256 Gerrard-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/256 Gerrard.jpeg"/><img src="https://media.strata.ca/article-images/184/256 Gerrard.jpeg" alt="null"/></picture><h2>This Triplex in Little Portugal</h2>If you&rsquo;re looking for a turnkey investment property that you could also live in (because that&rsquo;s how nice it is), 14 Wyndham Street is your best bet.<a href="https://strata.ca/toronto/14-wyndham-street-m6k1r7" target="_blank">Listed for $3,850,000</a>, this triplex is definitely on the expensive side. But still, it&rsquo;s stunning with its large windows and maple hardwood flooring. Given the location, spacious units, and just the general condition &mdash; rental income will likely be high.Additionally, the property has an assumable mortgage rate of 1.64%, which doesn&rsquo;t expire until 2026. And given today&rsquo;s mortgage rates, that could be enticing for some investors.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/14 Wyndham-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/14 Wyndham.jpeg"/><img src="https://media.strata.ca/article-images/184/14 Wyndham.jpeg" alt="null"/></picture><h2>This Triplex in High Park North</h2>With a projected gross income of $98,000 a year, this triplex at <a href="https://strata.ca/toronto/104-evelyn-crescent-m6p3e1" target="_blank">104 Evelyn Crescent</a> is a perfect investment property. The property has three units. The two upper suites are three-bedrooms and currently vacant &mdash; meaning you can set the rent price as you wish. The average right now in Toronto for a three-bedroom is roughly $3,995 a month. The basement unit is currently tenanted and brings in $1,000 a month.This triplex is in a great location in <a href="https://strata.ca/toronto/west-end/high-park-north/houses-for-sale" target="_blank">High Park</a>. It&rsquo;s also in tip-top condition, so it likely won&rsquo;t require any major renovations. The property is currently listed for $2,048,000.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/104 Evelyn Cres-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/104 Evelyn Cres.jpeg"/><img src="https://media.strata.ca/article-images/184/104 Evelyn Cres.jpeg" alt="null"/></picture><h2>This Triplex in North York</h2>One might say this triplex at <a href="https://strata.ca/toronto/14-garthdale-court-m3h5p8" target="_blank">14 Garthdale Court</a> is almost too good an offer to pass up. Inside this four-unit building, which is listed for $1,695,000, are two three-bedroom units, one two-bedroom unit and one bachelor unit. The property has also had a fair number of renovations. And while the rents right now are below market value, the building can be made vacant once you take possession. In theory you could bring the leases up to market value, and improve your net income.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/14 Garthdale Crt-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/14 Garthdale Crt.jpeg"/><img src="https://media.strata.ca/article-images/184/14 Garthdale Crt.jpeg" alt="null"/></picture><h2>This Duplex in High Park North</h2>We&rsquo;re not going to lie, this place isn&rsquo;t looking so hot. But it could definitely be one of those &lsquo;diamond in the rough&rsquo; situations. 255 Dundas St. W is not only <a href="https://strata.ca/toronto/2555-dundas-street-west-m6p1x6" target="_blank">listed for less than $1 million</a> &mdash; but it&rsquo;s also in a great location, and zoned for both commercial and residential use.This property has been sitting on the market for well over a year and has dropped its asking price from $990,000 to $950,000. Given that there&rsquo;s still no takers, the seller could be willing to go even lower.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/255 Dundas St W-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/184/255 Dundas St W.jpeg"/><img src="https://media.strata.ca/article-images/184/255 Dundas St W.jpeg" alt="null"/></picture>

The 5 Best Houses For Rental Investment

As the famed Canadian band Barenaked Ladies once sang: &ldquo;If I had a million dollars&hellip;well, I&rsquo;d buy you a house.&rdquo;Only problem is, it&rsquo;s been years since the average price of a home in the GTA was below $1 million &mdash;&nbsp;since <a href="https://toronto.ctvnews.ca/average-gta-home-prices-surpass-1-million-for-the-first-time-1.5333034" target="_blank">2021 to be precise</a>.But there are still homes out there going for $1 million. However, what you can get for that $1 million varies pretty widely depending on which neighbourhood you're looking at.So here&rsquo;s the kind of house that the Barenaked Ladies would buy you around the GTA.<h2>Lakeview - Mississauga</h2>While there is a wide range of homes you can find in <a href="https://strata.ca/mississauga/houses-for-sale" target="_blank">Mississauga</a> &ndash; from the lavish <a href="https://strata.ca/mississauga/910-caldwell-avenue-l5h1z1" target="_blank">multi-million dollar mansions</a> to the <a href="https://strata.ca/mississauga/947-tenth-street-l5e1t1" target="_blank">humble post-war bungalows</a>, for $1 million most of the homes you&rsquo;re going to be looking at are cookie-cutter suburban houses.Now, there&rsquo;s nothing wrong with builder-basic homes or living in a suburban subdivision, but if you&rsquo;re looking for something with a bit more character or a neighbourhood where all the houses don&rsquo;t all look the same, this <a href="https://strata.ca/mississauga/947-tenth-street-l5e1t1" target="_blank">adorable two-bedroom bungalow in Lakeview</a> is the ticket.It&rsquo;s a detached house on a 40 x 100 foot lot in a prime location near the golf course and the lake. It is being sold &ldquo;as is&rdquo;, but the land is perfect if you want to renovate, expand or completely rebuild.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/947 Tenth St-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/947 Tenth St.jpeg"/><img src="https://media.strata.ca/article-images/182/947 Tenth St.jpeg" alt="null"/></picture><h2>Brampton East - Brampton</h2>In <a href="https://strata.ca/brampton/houses-for-sale" target="_blank">Brampton</a>, you can have this three-bedroom, two-bathroom home on an oversized lot for <a href="https://strata.ca/brampton/33-roberts-crescent-l6w1g9" target="_blank">$999,900</a>. Sure, it needs some updating. But who doesn&rsquo;t love some original hardwood floors and walls?<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/33 Roberts Cres-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/33 Roberts Cres.jpeg"/><img src="https://media.strata.ca/article-images/182/33 Roberts Cres.jpeg" alt="null"/></picture><h2>Mimico - Etobicoke</h2>This beautiful lakeside detached house in <a href="https://strata.ca/toronto/etobicoke/mimico" target="_blank">Mimico</a> that looks kinda like a barn is <a href="https://strata.ca/toronto/2499-lake-shore-boulevard-west-m8v1c5" target="_blank">listed for $999,999</a>. It&rsquo;s bright, airy and even has a basement unit you can rent out.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/2499 Lake Shore Blvd W-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/2499 Lake Shore Blvd W.jpeg"/><img src="https://media.strata.ca/article-images/182/2499 Lake Shore Blvd W.jpeg" alt="null"/></picture><h2>Bloor West Village - West End</h2>If Toronto Life&rsquo;s &ldquo;[https://torontolife.com/neighbourhood-rankings/|o=blank|t=Ultimate Neighbourhood Ranking]&rdquo; of the GTA is to be believed, <a href="https://strata.ca/toronto/west-end/bloor-west-village-runnymede" target="_blank">Bloor West</a> is the place to be.Supply is definitely limited, but there is this treasure of a detached home <a href="https://strata.ca/toronto/65-macgregor-avenue-m6s2a1" target="_blank">listed for $999,999</a>. The home boasts three bedrooms, two bathrooms, and a south-facing backyard. The kitchen and bathroom are dated. Overall though, the home looks like it has been well maintained.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/65 Macgregor-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/65 Macgregor.jpeg"/><img src="https://media.strata.ca/article-images/182/65 Macgregor.jpeg" alt="null"/></picture><h2>Wychwood - Midtown</h2><a href="https://strata.ca/toronto/614-christie-street-m6g3e5" target="_blank">Listed for $979,000</a>, this semi-detached three-bedroom, one bathroom home is a charming <a href="https://strata.ca/toronto/midtown" target="_blank">midtown</a> find. The home sits on an oversized lot, right across from the beloved Wychwood Barns. Not only does the layout offer larger bedrooms and plenty of space &mdash; but the current owners have thoughtfully preserved the original wood trim. As an added bonus, there&rsquo;s no shortage of activities for the family because the neighbourhood is solid.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/614 Christie-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/614 Christie.jpeg"/><img src="https://media.strata.ca/article-images/182/614 Christie.jpeg" alt="null"/></picture><h2>Queen West - Downtown</h2>&ldquo;As good an opportunity as it gets,&rdquo; is what the listing says about <a href="https://strata.ca/toronto/89-stafford-street-m6j3r1" target="_blank">89 Stafford</a>. And honestly, facts. Finding a <a href="https://strata.ca/toronto/downtown/queen-west/houses-for-sale" target="_blank">house in Queen West</a>, arguably one of the coolest parts of downtown Toronto, for under $1 million is a miracle. Listed for $999,900, this three-bedroom townhouse has a garage and deck. Apart from that, it&rsquo;s nothing to write home about. But you&rsquo;re buying it for the unbeatable location. The interior can be renovated and made cute.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/89 Stafford-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/89 Stafford.jpeg"/><img src="https://media.strata.ca/article-images/182/89 Stafford.jpeg" alt="null"/></picture><h2>Leslieville - East End</h2>As the listing says &ldquo;Myrtle is a cutie!&rdquo;, and we couldn&rsquo;t agree more. This <a href="https://strata.ca/toronto/east-end/leslieville-south-riverdale/houses-for-sale" target="_blank">Leslieville</a> gem is <a href="https://strata.ca/toronto/31-myrtle-avenue-m4m2a4" target="_blank">listed at $989,000</a> and boasts high ceilings, a new kitchen and all new windows. The semi-detached house has three bedrooms, one bathroom, and a boatload of charm and character. Plus, there&rsquo;s a great yard that&rsquo;s just waiting for the magic touch of a green thumb.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/31 Myrtle-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/31 Myrtle.jpeg"/><img src="https://media.strata.ca/article-images/182/31 Myrtle.jpeg" alt="null"/></picture><h2>Southwood - Ajax</h2><a href="https://strata.ca/ajax/53-gregory-road-l1s3b5" target="_blank">For $999,000</a> in <a href="https://strata.ca/ajax/houses-for-sale" target="_blank">Ajax</a>, you could have this stunning three-bedroom split level home with an inground pool and a one-minute walk to the waterfront. Yes, pool and lake for $1 million is hard to beat.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/53 Gregory Rd-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/182/53 Gregory Rd.jpeg"/><img src="https://media.strata.ca/article-images/182/53 Gregory Rd.jpeg" alt="null"/></picture>However, these homes might not stay at this price for long as property values continue to rise, supply continues to dwindle, and the average price of a house in Toronto just hit $1.15 million in April &mdash;&nbsp;despite rising interest rates.So get &lsquo;em while you can!

What $1M Can Get You In Different Neighbourhoods In The GTA

News that a record number of new GTA condo units will be ready for occupancy in 2023 &mdash; nearly 32,000, according to research firm Urbanation &mdash; must be music to the ears of many pre-construction buyers who have waited years to move into their new homes.The bad news for some of them, however, is that rising mortgage rates are making it harder to close on these properties. A 20-percent down payment is typically required to obtain a pre-construction unit, with buyers needing to pay the remaining 80 percent after their unit has been built and finally registered as a condominium. Trouble is, many condo buyers are struggling to qualify for mortgages now that five-year interest rates are topping 5 percent. At the same time, lenders are appraising units at lower values, which means buyers must come up with extra funds to bridge the gap between the smaller mortgage and the price they originally agreed to pay.This double whammy is sure to produce a jump in the number of buyers trying to get out of their newly-built condos by selling the right to buy them. Known as assignment sales, these transactions are more challenging to navigate than traditional resales. That&rsquo;s because they involve negotiating with both the original purchaser and the developer. There also tends to be a smaller buyer pool for assignments, as larger down payments are typically needed to cover the original purchaser&rsquo;s deposit, along with any capital growth earned since the contract for that unit was purchased from the developer.What aspiring assignment buyers need to know is that buyers who purchased pre-construction units as investment properties are facing a third whammy that may be more terrible than the other two combined. According to Urbanation, the average cost of condo ownership in Toronto was $3,506 a month in the third quarter of 2022, while the average monthly condo rent was $2,733. This means the average owner who rented out a unit paid $773 out of pocket each month. When this discrepancy stood at $17 a month, as it did in 2019, or even at $196, as it did in 2020, it was typically offset by impressive increases in condo property values. Now, with <a href="strata.ca" target="_blank">Strata.ca</a> data revealing softening rent-to-list price ratios, a sharp increase in average days on the rental market, and a jump in total inventory &mdash; that $773 may well continue to balloon while offsetting property values decline.This is why assignment buyers may find plenty of leverage in the months ahead. They could end up negotiating very reasonable prices for all these newly-occupiable condos. The keys to this opportunity are threefold:1. Enlist a realtor who has plenty of experience with assignment sales and knows the developments2. Enlist a lawyer who has the same3. Consider an assignment, regardless of whether you&rsquo;re an end-user or investorAnd that&rsquo;s where this famous quote from former U.S. President John F. Kennedy comes in:&quot;When written in Chinese, the word &lsquo;crisis&rsquo; is composed of two characters &mdash; one represents danger, and the other represents opportunity.&quot;Ultimately, one person&rsquo;s financial hazard is another person&rsquo;s chance to score a brand new condo at a discounted rate.

Surge In New-Condo Occupancy Presents Assignment Sale Opportunities

When a property hits the market, it&rsquo;s for one of many typical reasons. Maybe the seller has a baby on the way and needs to upsize. Or perhaps the owner has no choice but to sell due to a job change, financial hardship, or even divorce.So when the condo board at the luxurious <a href="https://strata.ca/toronto/88-blue-jays-way-bisha-hotel-residences" target="_blank">Bisha Residences</a> reached out to <a href="https://strata.ca/" target="_blank">Strata.ca</a> realtor Cyrus Ghazvini for help selling a unit there, he thought it would be another textbook listing. But in reality, the story behind <a href="https://strata.ca/toronto/88-blue-jays-way-bisha-hotel-residences/unit-2104" target="_blank">Unit 2104</a> was anything but typical.<h2>Owner vanishes</h2>Condo owners are obligated to pay monthly maintenance fees. But in this case, the owner had been in default. Every building has differing rules on how to deal with this situation. At Bisha Residences, the rules clearly state that the board can take ownership of any unit that goes into default after a certain period of time.Still, there was a huge issue. The unit was in horrible shape &mdash; owned by a man who was MIA, who clearly had a hoarding problem . How would the board sell such a place? That&rsquo;s when Ghazvini entered the scene.<h2>Hundreds of dead fruit flies and other insects</h2>When Ghazvini first visited the unit, he knew it would be messy. &ldquo;But I didn&rsquo;t expect to walk into anything like this,&rdquo; he says, describing a place that smelled like a putrid mix of rotting food and stale cigarettes. Not only were there food stains all over the floor, but there were hundreds of dead fruit flies and other insects swarming the spoiled debris.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/167/Hoarder Collage (4)-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/167/Hoarder Collage (4).jpg"/><img src="https://media.strata.ca/article-images/167/Hoarder Collage (4).jpg" alt="null"/></picture>Although this realtor&rsquo;s mission was to get the property into pristine shape, the mystery man&rsquo;s whereabouts was always on Ghazvini&rsquo;s mind. Clearly this guy had a penchant for UberEats, didn&rsquo;t mind living in a swamp of spoiled food, and meticulously collected all the recyclables that typically come with ordering in. Not much else was known about the owner.Ghazvini learned that he &ldquo;largely kept to himself, but was constantly ordering food to the unit.&rdquo; Residents also noted he would often get a single bubble tea delivered to his door. It was a sign, neighbours say, that this was a man who wouldn&rsquo;t leave his home under any circumstances. Not even to engage in the most mundane aspects of everyday life.<h2>Distasteful den to luxury residence</h2>Despite the unpleasant conditions, a determined Ghazvini got to work. When he typically prepares a home for sale, the property will require only one thorough cleaning. But for this one, the seasoned agent knew &ldquo;that military-grade professional cleaners would have to do the job twice.&rdquo;&ldquo;The first time was to get rid of the surface grime and clear out the garbage this guy was collecting,&rdquo; Ghazvini explains. &ldquo;After that, we spent a whole day lugging the owners&rsquo; personal belongings into storage.&rdquo;The cleaners then came in for round two, giving the unit what&rsquo;s known as a &lsquo;detail cleaning&rsquo; to make sure not even a speckle of its former state was left behind.Afterwards, Ghazvini hired painters to apply a fresh coat of paint, &ldquo;not just to brighten up the walls, but to neutralize any odours left behind.&rdquo; The final step was to bring in a staging company to decorate this newly-immaculate space.&ldquo;The transformation was shocking,&rdquo; states the agent proudly. &ldquo;It went from a hoarder&rsquo;s den to a luxury residence, as it was always meant to be.&rdquo;<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/167/After Collage-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/167/After Collage.png"/><img src="https://media.strata.ca/article-images/167/After Collage.png" alt="null"/></picture>So aside from this epic makeover, what makes the actual property so unique? Well for starters, it&rsquo;s at the Bisha Residences.&ldquo;Units here are always in demand because residents get to enjoy the high-class amenities that belong to the hotel side,&rdquo; explains Ghazvini. And not only that, the building is in the heart of Toronto&rsquo;s entertainment district. &ldquo;When you mix this type of luxury with a prime location, people end up wanting a condo like this purely for lifestyle.&rdquo;

Before vs. After: Strata Transforms Distasteful Unit Into Luxury Listing

There was a time about 8 to 10 months ago when even a generous budget of $1M couldn&rsquo;t get you much in Toronto&rsquo;s real estate market. We&rsquo;d often see lacklustre units easily selling at that price point &mdash; as was the case with this <a href="https://strata.ca/toronto/1080-bay-st-u-condominium/mls/c5448247" target="_blank">one bedroom plus den</a>.But after a series of interest rate hikes, Toronto&rsquo;s housing landscape has shifted. Although there are areas where condo values remain strong, $1M certainly goes a lot further today than it did in earlier this year.Let&rsquo;s see what Toronto homebuyers got with $1M this past month.<a href="https://strata.ca/toronto/52-holmes-ave-50-holmes-ave-kenneth-holmes-urban-townhomes/mls/c5745022" target="_blank">50 Holmes Ave, Unit 7</a> | $995,900 | North YorkThis 2-bedroom <a href="https://strata.ca/toronto/north-york/condos-for-sale" target="_blank">North York</a> townhome would have likely sold for much higher back in the spring. But after hitting the market in late summer, it ended up selling for just under $1M. For context, a <a href="https://strata.ca/toronto/52-holmes-ave-50-holmes-ave-kenneth-holmes-urban-townhomes/mls/c5463677" target="_blank">comparable unit</a> had sold for nearly $160,000 more in February.This particular property is spacious at 1,200 square feet with an open-concept layout. Beautifully staged, it has a gorgeous kitchen with quartz countertops, marble backsplash, and a well-sized breakfast bar. But perhaps the most stunning feature is the third-floor loft that walks out to your private rooftop terrace.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/50 Holmes-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/50 Holmes.jpeg"/><img src="https://media.strata.ca/article-images/164/50 Holmes.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/555-wilson-ave-the-station-condos/mls/c5752971" target="_blank">555 Wilson Ave, PH1404</a> | $929,900 | North YorkA sprawling penthouse in one of Toronto&rsquo;s most in-demand condos for under $1M would&rsquo;ve been unthinkable earlier this year. But thanks to good timing, this particular buyer was able to purchase such a property at a lower price point.This penthouse is inside the <a href="https://strata.ca/toronto/555-wilson-ave-the-station-condos" target="_blank">Station Condos</a>, which is located in the popular North York neighbourhood of <a href="https://strata.ca/toronto/north-york/clanton-park-wilson-heights/condos-for-sale" target="_blank">Clanton Park/Wilson Heights</a>. At nearly 2,000 square feet, it offers spectacular south-facing views of the Toronto skyline. With a chef&rsquo;s kitchen, spacious dining room and soaring ceilings &mdash; this luxurious penthouse is definitely an entertainer&rsquo;s dream.Just 7 months prior, a <a href="https://strata.ca/toronto/555-wilson-ave-the-station-condos/mls/c5488377" target="_blank">much smaller unit</a> in the same building (that isn&rsquo;t a penthouse) sold for only slightly less; but $251,000 over its original asking price. So it just goes to show there is good value to be found in today&rsquo;s more balanced market.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/555 Wilson-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/555 Wilson.jpeg"/><img src="https://media.strata.ca/article-images/164/555 Wilson.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/1300-islington-ave-barclay-terrace-ii-condos/mls/w5756165" target="_blank">1300 Islington Ave, Unit 1707</a> | $999,999 | EtobicokeWhen Toronto condo values hit record highs during the first quarter, a 1,700-square-foot unit with breathtaking views in Etobicoke may have been unheard of for under $1M. But this past month, it was certainly possible for this unique corner suite at the <a href="https://strata.ca/toronto/1300-islington-ave-barclay-terrace-ii-condos" target="_blank">Barclay Terrace II Condos</a>.The focal point of this three-bedroom condo is perhaps the oversized living room with wall-to-wall-windows, allowing for lush views of the <a href="https://strata.ca/toronto/etobicoke/islington-city-centre-west/condos-for-sale" target="_blank">Islington neighbourhood</a>. Not to mention the octagonal kitchen overlooking the spacious balcony, plus a solarium that&rsquo;s now an eat-in breakfast area.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/1300 Islington Ave-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/1300 Islington Ave.jpeg"/><img src="https://media.strata.ca/article-images/164/1300 Islington Ave.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/250-manitoba-st-the-warehouse-lofts-mystic-pointe/mls/w5737443" target="_blank">250 Manitoba St, Unit 528</a> | $999,000 | EtobicokeHard lofts are in high demand. So it&rsquo;s no surprise this property type was selling for record-breaking prices at the market&rsquo;s peak. And to score a 1,200-square-foot hard loft with lake views would&rsquo;ve been tough earlier this year, at least without some steep competition.But just this past month, one lucky buyer managed to purchase this stunning two-storey unit at <a href="https://strata.ca/toronto/250-manitoba-st-the-warehouse-lofts-mystic-pointe" target="_blank">The Warehouse Lofts</a> in <a href="https://strata.ca/toronto/etobicoke/mimico/condos-for-sale" target="_blank">Mimico</a> for well under $1M. Soaring 17-foot ceilings, enormous top-to-bottom windows, and a view of Lake Ontario &mdash; why leave home when you&rsquo;ve got this perfect oasis? Meanwhile, this bright loft is definitely fit for a party. It has a private 360-square-feet terrace with a BBQ hookup and gas fireplace.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/250 Manitoba-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/250 Manitoba.jpeg"/><img src="https://media.strata.ca/article-images/164/250 Manitoba.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/68-merton-st-life-condos/mls/c5744168" target="_blank">68 Merton St, Unit 811</a> | $975,000 | MidtownToronto&rsquo;s <a href="https://strata.ca/toronto/midtown/condos-for-sale" target="_blank">Midtown</a> neighbourhood, known for its upscale lifestyle, is often synonymous with higher condo values. So a unit like this inside the high-demand <a href="https://strata.ca/toronto/68-merton-st-life-condos" target="_blank">Life Condos</a> may have sold for over asking back in the spring. But in September, it sold $25,000 under the list price.An 8th floor corner unit, this 900-square-foot suite offers a practical layout that&rsquo;s perfect for a professional couple, or even young family with a child. The primary bedroom has huge east-facing windows and ample closet space, while the second bedroom opens up to a spacious den. But the property&rsquo;s main selling feature? That would be a private 275-square-foot terrace with gas BBQ and cozy treetop views.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/68 Merton-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/164/68 Merton.jpeg"/><img src="https://media.strata.ca/article-images/164/68 Merton.jpeg" alt="null"/></picture>

What $1M Got You In Toronto This Past Month

If you&rsquo;d been hoping to snap up your dream condo in downtown Toronto, but were put off by record prices this year, now might be the perfect time to buy.Since February, condo values have fallen by 9%, dropping from a peak of $1,202 per square foot to $1,094 in August. It&rsquo;s not just that prices have come down, either. Many sellers, now understanding that the market has shifted, are more willing to negotiate. On average, buyers are now paying nearly 2% under the asking price. A very different picture from just six months ago when buyers were paying 10% over asking.Across the city, sellers are finding their listings sitting on the market for an average of 26 days. Quite a dramatic shift from the average of 12 days on the market in February.All this to say, finding <a href="https://strata.ca/toronto/downtown/condos-for-sale" target="_blank">downtown Toronto condos</a> at these price points would&rsquo;ve been nearly impossible just a few months ago.Looking for a more affordable condo? Here are our top picks, all priced under $500,000, and available for sale now.<a href="https://strata.ca/toronto/58-88-st-patrick-st-village-by-the-grange-grangetown-lofts/unit-100" target="_blank">78 St. Patrick St, Unit 100</a> | $499,900This quirky two-level loft is located in Toronto&rsquo;s <a href="https://strata.ca/toronto/downtown/grange-park" target="_blank">Grange Park neighbourhood</a>. Complete with a tree-lined entrance and spacious terrace, you&rsquo;ll never pine for additional outdoor space. The one-bedroom plus den is located in the popular <a href="https://strata.ca/toronto/58-88-st-patrick-st-village-by-the-grange-grangetown-lofts" target="_blank">Grangetown Lofts</a>, featuring 1,000 square feet of living space in an open concept design. Just steps from trendy Queen West, you&rsquo;ll never miss out on the best parts of city living.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/78 St Patrick Unit 100-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/78 St Patrick Unit 100.jpeg"/><img src="https://media.strata.ca/article-images/163/78 St Patrick Unit 100.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/36-blue-jays-way-the-soho-metropolitan-condos/unit-525" target="_blank">36 Blue Jays Way, Unit 525</a> | $499,900Looking for a view of the city in the heart of one of Toronto&rsquo;s most vibrant neighbourhoods? Look no further than this suite inside the luxurious <a href="https://strata.ca/toronto/36-blue-jays-way-the-soho-metropolitan-condos" target="_blank">Soho Metropolitan Condos</a>. This one bed, one bath in the <a href="https://strata.ca/toronto/downtown/king-west/condos-for-sale" target="_blank">King West neighbourhood</a> has everything you&rsquo;re looking for in a compact space. With nearly 600 square feet of living area, this unit has a south-facing view, plus floor-to-ceiling windows that make for a brightly lit space.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/36 Blue Jays Way Unit 525-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/36 Blue Jays Way Unit 525.jpeg"/><img src="https://media.strata.ca/article-images/163/36 Blue Jays Way Unit 525.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/20-bruyeres-mews-the-yards-at-fort-york/unit-1102" target="_blank">20 Bruyeres Mews, Unit 1102</a> | $498,000This beautiful one-bedroom suite in Toronto&rsquo;s <a href="https://strata.ca/toronto/downtown/fort-york/condos-for-sale" target="_blank">Fork York neighbourhood</a> boasts tons of natural light across an open concept layout. Located inside <a href="https://strata.ca/toronto/20-bruyeres-mews-the-yards-at-fort-york" target="_blank">The Yards at Fort York</a>, the unit features a large west-facing balcony, where you can take in the sunset all year round. With floor-to-ceiling windows in the living room and bedroom, the unit feels much larger than 500 square feet. The modern layout provides many interior design options to really make this unit your own.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/20 Bruyeres Mews Unit 1102-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/20 Bruyeres Mews Unit 1102.jpeg"/><img src="https://media.strata.ca/article-images/163/20 Bruyeres Mews Unit 1102.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/28-wellesley-st-e-vox-condos/unit-211" target="_blank">28 Wellesley St E, Unit 211</a> | $499,900This studio unit is all about the perfect location. Right in the heart of <a href="https://strata.ca/toronto/downtown/the-village/condos-for-sale" target="_blank">The Village</a>, this unit at the highly-popular <a href="https://strata.ca/toronto/28-wellesley-st-e-vox-condos" target="_blank">VOX Condos</a> is surrounded by fantastic neighbourhood amenities. It&rsquo;s also within walking distance of Toronto&rsquo;s most popular haunts. The suite&rsquo;s layout makes it look and feel larger than its 390 square foot size. With a private terrace and large west-facing windows, natural light pours in throughout the day. The property also features plenty of storage space, and a modern kitchen that&rsquo;s small but practical.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/28 Wellesley St Unit 211-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/28 Wellesley St Unit 211.jpeg"/><img src="https://media.strata.ca/article-images/163/28 Wellesley St Unit 211.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/251-jarvis-st-dundas-square-gardens-condos/unit-1404" target="_blank">251 Jarvis St, Unit 1404</a> | $499,900This <a href="https://strata.ca/toronto/downtown/cabbagetown/condos-for-sale" target="_blank">Cabbagetown condo for sale</a> is just steps away from everything you could want or need. At 360 square feet, the studio unit may seem small. But it might just be the perfect way to get yourself into the market. The unit is located inside the popular <a href="https://strata.ca/toronto/251-jarvis-st-dundas-square-gardens-condos" target="_blank">Dundas Square Gardens Condos</a> &mdash; conveniently close to the Eaton Centre, George Brown College and the Toronto Metropolitan University (formerly Ryerson). With a north-facing balcony, this is the ideal spot to take in the sights, sounds and energy of the city.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/251 Jarvis St Unit 1404-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/163/251 Jarvis St Unit 1404.png"/><img src="https://media.strata.ca/article-images/163/251 Jarvis St Unit 1404.png" alt="null"/></picture>

Downtown Toronto Condos for Sale Under $500K

With Canadian gas prices <a href="https://www.cbc.ca/news/canada/toronto/gas-prices-tourism-1.6485370#:~:text" target="_blank">hitting record highs</a> in recent months, I&rsquo;m doing my best to keep my smugness in check. As well as saving me thousands of dollars in fuel costs and drastically reducing my carbon footprint, my 2020 all-electric Tesla 3 has access to what is still a surprisingly rare condo amenity: an in-house charging station.Last year, more than 83,000 electric vehicles (EVs) hit Canadian roads, which <a href="https://www.statcan.gc.ca/en/topics-start/automotive" target="_blank">Statistics Canada reports</a> was an all-time high. In the fourth quarter of 2021, plug-in cars and SUVs topped 6 percent of all new vehicle registrations for the first time, with year-over-year sales growing by almost 60 percent.Given that 2021 gas prices were relatively affordable compared to 2022, I&rsquo;m not surprised that 46 percent of Canadians surveyed in June for Ernst &amp; Young&rsquo;s EY Mobility Consumer Index said they plan to buy an EV as their next vehicle. That&rsquo;s up from 11 percent in 2021. If these drivers follow through on their intentions, hundreds of thousands of EVs will hit Canadian roads in the not-too-distant future. Based on <a href="https://globalnews.ca/news/8776540/canada-electric-vehicle-popularity-federal-sales-target/" target="_blank">federal government mandates</a>, those numbers will be in the millions by 2035, when all new vehicles must run on batteries.However, what I AM surprised about is how long it&rsquo;s taken condo developers and boards to react to the surge in demand. Indeed, according to a recent survey supported by Innovation, Science and Economic Development Canada (ISED), the one-third of Canadians who live in apartments and condos are having the hardest time finding convenient places to charge their EVs.<h2>Charging away from home</h2>My Strata colleague and fellow Tesla owner Cliff Lui can relate. While living in GTA condos, Cliff would usually park overnight in nearby public parking garages with EV charging stations. &ldquo;I&rsquo;d park there more than I would in my own parking spot,&rdquo; Cliff says, adding that I am the only condo-dweller he knows who has access to in-house charging.Strata Realtor Cyrus Ghazvini is currently in the same boat that Cliff once was. But he reports that the property managers of his building are &ldquo;exploring options to have EV hookups in our parking structure. We still don't know whether each parking owner will have their own charger, or if there will be a section of spots dedicated to temporary charging. At least it's finally being taken seriously. I personally negotiated an EV rough-in for a client who bought a unit at <a href="https://strata.ca/toronto/39-queens-quay-e-pier-27" target="_blank">Pier 27</a> years ago, so I know it can be done. Better late than never, I guess.&rdquo;Until a couple years ago, many condo corporations were doing little or nothing to make on-site chargers available to residents. Now, they&rsquo;re playing catch up. Residents of the 10-year-old <a href="https://strata.ca/toronto/55-stewart-st-the-thompson-residences" target="_blank">Thompson Residences</a> at King and Bathurst, for instance, were recently emailed details of the corporation&rsquo;s ongoing upgrades to the building&rsquo;s electrical infrastructure to support up to 68 EV charging stations on two levels of its underground garage. Totalling $277,549.75, the upgrades do not include the installation of individual chargers, which must be covered by the respective owners. (From what I understand, having a charger installed in a condo parking garage costs between $3,000 and $5,000.) Owners must also repay their proportionate share of the upgrades, which comes out to $4,081.61 per charger. However, many other condos are finding more affordable options &mdash; particularly newer and pre-construction condos.<h2>From frill to standard amenity</h2>While this arrangement is typical of installations in existing condo communities&rsquo; &mdash; it was codified by the <a href="https://www.condoauthorityontario.ca/resources/electric-vehicle-charging-station-regulations/" target="_blank">Condominium Authority of Ontario</a> in 2018 &mdash; pre-construction projects are still charging a premium for private EV hookups. &ldquo;I don't think EV charging in condos is a deal-breaker yet,&rdquo; Cliff says. &ldquo;Right now, it is more of a frill, like a basketball court or bowling lane.&rdquo;But Cliff, Cyrus and I are all on the same page in believing that it will soon be a standard amenity on par with gyms or outdoor terraces. Some of our clients are already asking how much it would cost to install EV chargers, and how they affect the resale value of pre-construction condo units. As it stands, added resale value is in line with the lofty cost of installation. But as more residents pressure condo boards to install chargers, and as more new builds include them, they will likely become more affordable.On that note, the ever-increasing affordability of EVs themselves has not been lost on any of us. Given my 2020 purchase, maybe I shouldn&rsquo;t feel that smug after all!

Condos Are Playing Catch-Up When It Comes To EV Charging

For the first time since December 2020, buyers are coming to the negotiating table with the upper hand. Amid rising interest rates and runaway inflation &mdash; Toronto&rsquo;s once hot real estate market has certainly cooled off, and this means some sellers are having to adjust their prices accordingly.Back in February, we saw GTA buyers paying, on average, about 15% above the asking price. But those days of multiple offers and soaring prices are largely behind us. Now, buyers are paying nearly 1% under asking. Right now, a GTA condo is selling for about $814 per-square-foot (PSF) or roughly $751,481. That&rsquo;s about a 12% drop since February&rsquo;s peak.Since January, the amount of terminated listings has risen by a stunning <a href="https://strata.ca/blog/terminated-cancelled-listings-across-the-gta-spike-by-643" target="_blank">643%</a>. That data alone signals that many sellers have been forced to rethink their strategies amid changes in the overall real estate market.So now that the market is finally cooling, many buyers are looking to get in on the action. That&rsquo;s why we&rsquo;ve rounded up several Toronto condos that have become the victim of major price reductions. Take a look!<a href="https://strata.ca/toronto/48-power-st-50-power-st-home-power-adelaide-condos/unit-1119" target="_blank">50 Power St, Unit 1119</a> | $999,900 (-$250,000) | CorktownTalk about a steep price drop! Boasting nearly 1,000 square feet of space with 9 foot ceilings and an open concept design &mdash; this <a href="https://strata.ca/toronto/downtown/corktown/condos-for-sale" target="_blank">Corktown</a> condo has seen a major price reduction of $250,000. The big draw at this property are the large floor-to-ceiling windows, offering plenty of natural light all year round. While the unit doesn&rsquo;t have a balcony, you&rsquo;ll still be able to enjoy the outdoors. That&rsquo;s all thanks to the building&rsquo;s fantastic amenities, which include an outdoor pool, community garden, and BBQ area complete with a fireplace!<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/50 Power St, Unit 1119-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/50 Power St, Unit 1119.jpeg"/><img src="https://media.strata.ca/article-images/160/50 Power St, Unit 1119.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/766-king-st-w-tecumseth-lofts/unit-209" target="_blank">766 King St W, Unit 209</a> | $999,999 (-$91,001) | King WestThis spacious hard loft in the <a href="https://strata.ca/toronto/downtown/king-west/condos-for-sale" target="_blank">King West neighbourhood</a> has been reduced by about $91,000. The two bedroom, two bathroom unit features a large north-facing terrace complete with a gas line for those summer barbeques. The unique property is two storeys high with all two bedrooms located on the upper level. Large windows on both floors allow natural light to flood the 1,000 square foot space, creating a bright open concept living area.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/766 King W, Unit 209-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/766 King W, Unit 209.jpeg"/><img src="https://media.strata.ca/article-images/160/766 King W, Unit 209.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/160-baldwin-st-kensington-market-lofts/unit-201" target="_blank">160 Baldwin St, Unit 201</a> | $795,000 (-$54,000) | Kensington MarketThis <a href="https://strata.ca/toronto/downtown/kensington-market/condos-for-sale" target="_blank">Kensington Market</a> unit is not your typical condo, and it&rsquo;s been relisted with a $54,000 price reduction. If you&rsquo;re wondering why you can&rsquo;t see the price reduction note on the listing, it&rsquo;s because the seller &ldquo;terminated&rdquo; the listing, and re-listed at the lower price of $795,000 (likely to bring the &ldquo;days on market&rdquo; back down to zero).The super trendy suite features a loft-style layout with a spacious bedroom overlooking the main living area. With 900 square feet of space, this property offers plenty of room to relax and entertain. Large south-facing windows flood this one-bedroom unit with natural light, although the view is somewhat obstructed by an adjacent parking garage. Otherwise though, high ceilings and an open concept design make this unit feel much larger than life itself!<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/160 Baldwin St, Unit 201-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/160 Baldwin St, Unit 201.jpeg"/><img src="https://media.strata.ca/article-images/160/160 Baldwin St, Unit 201.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/88-broadway-ave-the-88-on-broadway/unit-206" target="_blank">88 Broadway Ave, Unit 206</a> | $649,900 (-$50,000) | MidtownThis one-bedroom-plus-den is the subject of a $50,000 price drop. The property, located near <a href="https://strata.ca/toronto/midtown/yonge-and-eglinton/condos-for-sale" target="_blank">Yonge and Eglinton</a>, boasts an open concept design and large east-facing windows that brighten up the space. The private balcony is the perfect place to get your day started each morning as you watch the sunrise!<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/88 Broadway Ave, Unit 206-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/88 Broadway Ave, Unit 206.jpeg"/><img src="https://media.strata.ca/article-images/160/88 Broadway Ave, Unit 206.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/21-nelson-st-boutique-condos/unit-302" target="_blank">21 Nelson St, Unit 302</a> | $724,900 (-$50,000) | Queen WestThis pretty, two bedroom unit is located in the trendy <a href="https://strata.ca/toronto/downtown/queen-west/condos-for-sale" target="_blank">Queen West neighbourhood</a>, and has seen a $50,000 price drop despite all its renovations. Spanning nearly 900 square feet, this spacious suite offers plenty of living space. Living here means the sun will always shine in, thanks to your private south-facing balcony. The open concept design gets a ton of natural light from the large windows throughout. As if that weren&rsquo;t enough &mdash; the stylish kitchen offers stunning granite countertops, glossy modern cabinetry, and a double convection oven.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/21 Nelson St, Unit 302-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/160/21 Nelson St, Unit 302.jpeg"/><img src="https://media.strata.ca/article-images/160/21 Nelson St, Unit 302.jpeg" alt="null"/></picture>

5 Toronto Condo Listings With Big Price Reductions

GTA house-hunters, buyers and sellers alike are abuzz over Ontario&rsquo;s impending open-bidding rules, and for good reason.For one thing, knowing the value of competing offers on a home creates more transparency around what is often the most important purchase during a person&rsquo;s life. We at <a href="https://strata.ca/">Strata.ca</a> support open bidding for that reason alone. By introducing a national plan to end &lsquo;blind bidding&rsquo;, the federal government appears to be taking a similar view on an issue that was described in the 2022 Budget as making home-buying &ldquo;even more stressful for too many Canadians.&rdquo;For another, the Ontario&rsquo;s government&rsquo;s controversial decision to give sellers the option of disclosing the details of competing bids is being widely lambasted for its disingenuity. Why, critics howl, would a seller choose to go with open bids anyway when the so-called &lsquo;blind-bidding&rsquo; process in place today will inevitably inflate the final sale price? As it stands, provincial law states that real estate brokerages representing sellers must disclose the number of written bids, but not the amounts of those bids.I get it: Residential real estate prices in the GTA just keep climbing. Even condo units, which are typically more affordable than houses, are in high demand &mdash; with the average sold price currently at about $784,000, up 15 percent from a year earlier.But don't kid yourself and think that open bidding alone will prevent prices from rising, especially in a market that's desperately in need of more inventory. Rising interest rates will cool a hot real estate market &mdash; open bidding won&rsquo;t.<h2>The flawed assumptions about open bidding</h2>In countries where open bidding is the norm, such as Australia, the sales process is often driven by ego and a strong desire to win. So people naturally end up paying well above market value.Let's say someone bids up by $100,000 in one shot &mdash; it's such a show of strength that it knocks everyone else out. The bold bidder has flexed their muscles, scaring off all competitors. People who don&rsquo;t have to deal with an open or auction-style system assume that the process simply inches up until an acceptable price is reached. But that&rsquo;s not the case. Often, someone delivers a knockout punch that dramatically increases the price.<h2>More evidence from around the world</h2>But don&rsquo;t take my word for it. According to a <a href="https://institute.smartprosperity.ca/sites/default/files/Blind%20Bidding%20-%20October%2021%20-%20FINAL.pdf" target="_blank">2021 report</a> by the Ottawa-based Smart Prosperity Institute, Sweden does not permit blind bidding. Yet that country has experienced even faster home price growth during the pandemic than Canada, and comparable home price growth over the last 20 years. New Zealand, where open auctions for homes are common, has experienced the fastest-growing home prices in the world over the last two decades.The report concludes: &ldquo;There is limited though compelling academic evidence that bid transparency leads to higher real estate prices. Studies examining real estate transactions in New Zealand, Australia and Ireland, as well as studies examining land sales in Singapore and the United States, have found increased bid transparency associated with higher, rather than lower, prices, particularly in overheated markets. This could be due to several factors, including public bids creating a signal that a property is particularly valuable, in a way that less transparent bids do not.&rdquo;<h2>Spare a thought for first-time buyers</h2>Open bids can be especially frustrating for first-time homebuyers who lack the resources to compete with deep-pocketed bold bidders. What less wealthy house-hunters need is more supply, as evidenced by the fact that the GTA&rsquo;s new and total inventories of condos are both down substantially over the past year. Low Supply + High Demand = Price Increases. This is as basic as economics gets.Again, the Smart Prosperity Institute backs me up here: &ldquo;Ultimately, the major factor driving up real estate prices is supply not keeping up with demand. To ensure housing is available and attainable for all Canadians, the federal government should focus on relieving the bottlenecks preventing an adequate supply of family-friendly, climate-friendly homes from being built.&rdquo;

Open Bidding: Will New Rules Cool Toronto’s Housing Market?

Toronto is home to a number of industrial conversions. From historic factories to unique schoolhouses, these units are not only special &mdash; but also hold a piece of Toronto history. Hard loft condos share some similarities with traditional condos: They have a property manager, condo board, and maintenance fees. But what sets them apart is their layout and design. After all, repurposing old buildings into liveable spaces demands creativity and an element of preservation.It&rsquo;s not surprising that hard lofts are generally in high demand. On average, GTA homebuyers paid about 8% above asking price for hard lofts in May. The average sale price for one of these coveted properties was $1,062,000 &mdash; or roughly $1,083 per square foot (PSF). In comparison, the average cost for condos overall in May was $867 PSF. Just take a quick scan of Toronto&rsquo;s hard lofts, and you&rsquo;ll realize why buyers are willing to pay a premium for these rare residences.Even with the market being hot for hard lofts, there are a number of them listed under $750,000. From exposed brick and ductwork to soaring two-storey units, we bet it&rsquo;ll be hard to resist these properties!<a href="https://strata.ca/toronto/160-baldwin-st-21-nassau-st-kensington-market-lofts/unit-202" target="_blank">160 Baldwin St, Unit 202</a> | $679,000 | TorontoThis unique <a href="https://strata.ca/toronto/downtown/kensington-market/condos-for-sale" target="_blank">Kensington Market</a> unit features exposed brick and a second-storey bedroom overlooking the main living area. Located in the famous <a href="https://strata.ca/toronto/160-baldwin-st-kensington-market-lofts" target="_blank">Kensington Market Lofts</a>, this suite was once part of an old 1920&rsquo;s schoolhouse. The unit has more than 600 square feet of brightly lit space with large south-facing windows letting all that sunshine pour right in. And with 16-foot ceilings, you&rsquo;ll never feel cooped up, either! This modern suite also features plenty of storage space, including custom California closets in the bedroom.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/160 Baldwin-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/160 Baldwin.jpeg"/><img src="https://media.strata.ca/article-images/149/160 Baldwin.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/155-dalhousie-st-135-dalhousie-st-the-merchandise-lofts/unit-510" target="_blank">155 Dalhousie St, Unit 510</a> | $749,000 | TorontoThis quirky hard loft at <a href="https://strata.ca/toronto/155-dalhousie-st-the-merchandise-lofts" target="_blank">The Merchandise Lofts</a> was once home to the now defunct department store, Simpson&rsquo;s. Located in the heart of <a href="https://strata.ca/toronto/downtown/condos-for-sale" target="_blank">downtown Toronto</a>, the one bedroom-plus-den features stunningly high ceilings with exposed ductwork. But don&rsquo;t forget &mdash; with high ceilings come high cupboards. That&rsquo;s why the kitchen has a special built-in ladder, so you&rsquo;ll never have to worry about those dishes being out of reach. The 775-square foot space also has a bright and open feel with huge warehouse-style windows to keep natural light streaming through all day long.The Merchandise Lofts is among the largest in the city, with over 500 suites. As a result, you&rsquo;ll find better value here than in some of the more boutique hard lofts (like the Kensington Market Lofts above).<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/155 Dalhousie-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/155 Dalhousie.jpeg"/><img src="https://media.strata.ca/article-images/149/155 Dalhousie.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/99-chandos-ave-iron-works-lofts/unit-201" target="_blank">99 Chandos Ave, Unit 201</a> | $649,000 | TorontoThe <a href="https://strata.ca/toronto/99-chandos-ave-iron-works-lofts" target="_blank">Iron Works Lofts</a> is what you get when developers convert a small industrial building into stylish boutique residences. This one bedroom, <a href="https://strata.ca/toronto/west-end/condos-for-sale" target="_blank">west end</a> hard loft offers a unique open concept layout with plenty of natural light, thanks to its large north-facing windows. With more than 800 square feet of space, the unit features a large kitchen with ample cupboard and counter space. The kitchen island is moveable, so you can adjust for your needs. The unit has 12-foot ceilings in its principle rooms, making this hard loft feel even more open. While this property leans more modern than industrial in style, exposed ductwork and a large pillar in the living room give it something truly special.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/99 Chandos-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/99 Chandos.jpeg"/><img src="https://media.strata.ca/article-images/149/99 Chandos.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/1100-lansdowne-ave-foundry-lofts/unit-210" target="_blank">1100 Lansdowne Ave, Unit 210</a> | $749,000 | TorontoThis two bedroom hard loft in Toronto&rsquo;s west end is one of the city&rsquo;s most unique conversions. In the 1800s, the <a href="https://strata.ca/toronto/1100-lansdowne-ave-foundry-lofts" target="_blank">Foundry Lofts</a> were once a manufacturing plant that produced everything from fire hydrants to railroad tracks. With more than 700 square feet of living space and large arched windows, this particular hard loft offers the classic look of exposed brick and ductwork. One of the things that makes this building unlike any other in the city is that the interior still looks like a factory. Meanwhile, residents can also enjoy the enormous expanse of the atrium, while reminiscing about the locomotives that were once made here.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/1100 Lansdowne-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/1100 Lansdowne.jpeg"/><img src="https://media.strata.ca/article-images/149/1100 Lansdowne.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/300-manitoba-st-warehouse-lofts-at-mystic-pointe/unit-208" target="_blank">300 Manitoba St, Unit 208</a> | $699,900 | TorontoWelcome to the <a href="https://strata.ca/toronto/300-manitoba-st-warehouse-lofts-at-mystic-pointe" target="_blank">Warehouse Lofts at Mystic Pointe</a>, a building once operated by L.J. McGuinness Distillers. This two-storey <a href="https://strata.ca/toronto/etobicoke/condos-for-sale" target="_blank">Etobicoke</a> unit offers a distinctive open concept design. The unit has a loft bedroom way up high (complete with custom closets), overlooking the main living area. With more than 800 square feet of space, this unit is certainly bright, open and just plain gorgeous. A gas fireplace and L-shaped staircase also make this a standout property, even among other hard lofts.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/300 Manitoba-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/149/300 Manitoba.jpeg"/><img src="https://media.strata.ca/article-images/149/300 Manitoba.jpeg" alt="null"/></picture>

Hard Lofts For Sale In Toronto Under $750K

With the summer season fast approaching, cottage escapes are certainly on the mind. While owning one of your own might not be in the cards right now, there are plenty of Toronto condos for sale that feature hints of cottage living. Whether you&rsquo;re looking for a larger outdoor space, a stunning lake view or that lush woodsy aesthetic, did you know you can get that feeling right at home?The cottage market remains hot as ever in Ontario. But with GTA condo prices beginning to cool, it&rsquo;s the perfect time to look for a condo with those cottage features you&rsquo;ve been dreaming of!<a href="https://strata.ca/mississauga/1400-dixie-rd-fairways-condos/unit-104" target="_blank">1400 Dixie Rd, Unit 104</a> | $739,000 | MississaugaOne of the great features of a cottage is to be able to walk outside and be surrounded by nature. It doesn&rsquo;t feel like something you would find in the GTA, but this 1,200 square foot <a href="https://strata.ca/mississauga/condos-for-sale" target="_blank">Mississauga condo for sale</a> will make you forget you&rsquo;re in the city. The one bedroom, two bath suite is on the first floor with a walkout terrace surrounded by trees and green space. Light pours in through the south-facing floor-to-ceiling windows. Even the amenities at <a href="https://strata.ca/mississauga/1400-dixie-rd-fairways-condos" target="_blank">Fairways Condos</a> feel like a summertime resort with tennis courts, an outdoor pool, and nearly 6 acres of outdoor space! The only drawback is that the building was constructed in the late 70s, meaning it can feel a bit dated. (But then again, most cottages are, too.)<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/1400 Dixie Road-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/1400 Dixie Road.jpeg"/><img src="https://media.strata.ca/article-images/146/1400 Dixie Road.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/993-queen-st-w-the-candy-factory-lofts/unit-106" target="_blank">993 Queen St W, Unit 106</a> | $1,347,500 | Downtown, TorontoIt&rsquo;s likely the wood ceiling, aged hardwood, and exposed beams that make this <a href="https://strata.ca/toronto/downtown/condos-for-sale" target="_blank">downtown condo</a> feel like the cottage. Located in the highly-desirable <a href="https://strata.ca/toronto/993-queen-st-w-the-candy-factory-lofts" target="_blank">Candy Factory Lofts</a>, this stunning suite features a spectacular arched window looking out at Trinity Bellwoods. The grey kitchen cabinets and Douglas Fir posts also lend well to that rustic feel. It just goes to show that new owners can also play up that cottage vibe with the right kind of styling!<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/993 Queen West-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/993 Queen West.jpeg"/><img src="https://media.strata.ca/article-images/146/993 Queen West.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/70-annie-craig-dr-vita-on-the-lake/unit-4002" target="_blank">70 Annie Craig Dr, Unit 4002</a> | $769,900 | EtobicokeNothing evokes that cottage feeling quite like panoramic views of the lake. Thankfully, this condo in Etobicoke&rsquo;s popular <a href="https://strata.ca/toronto/etobicoke/mimico" target="_blank">Mimico neighbourhood</a> has just that. Located right along the waterfront, you can take in the beauty of Lake Ontario from the wraparound balcony. With a modern open-concept interior, this one bedroom plus den is the perfect balance of city and nature.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/70 Annie Craig-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/70 Annie Craig.jpeg"/><img src="https://media.strata.ca/article-images/146/70 Annie Craig.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/183-dovercourt-rd-the-argyle-lofts/unit-302" target="_blank">183 Dovercourt Rd, Unit 302</a> | $1,540,000 | West End, TorontoWake up to wooded views in this two bedroom plus den in Toronto&rsquo;s <a href="https://strata.ca/toronto/west-end/condos-for-sale" target="_blank">West End</a>. Located in the famous <a href="https://strata.ca/toronto/183-dovercourt-rd-the-argyle-lofts" target="_blank">Argyle Lofts</a>, this is home to some of the most sought-after loft conversions in the city. Oversized picture windows in this 1,500 square foot space offer lush views of the treetops and foliage just outdoors. As if that weren&rsquo;t enough &mdash; the interior is tastefully decorated, accentuating the stylish black trim and soaring 17-foot ceilings!<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/183 Dovercourt-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/183 Dovercourt.jpeg"/><img src="https://media.strata.ca/article-images/146/183 Dovercourt.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/56-annie-craig-dr-lago-at-the-waterfront-condos/unit-401" target="_blank">56 Annie Craig Dr, Unit 401</a> | $749,500 | EtobicokeWhen it comes to this <a href="https://strata.ca/toronto/etobicoke/condos-for-sale" target="_blank">Etobicoke condo for sale</a>, it&rsquo;s all about that outdoor space you can call your own! Featuring a private terrace that&rsquo;s as big as a backyard &mdash; who needs to drive out to cottage country when this can be your private sanctuary? This unit even comes with a gas hookup outside, so you can barbeque all summer long. The stunning terrace also connects to both the living room and bedroom, which means you can wake up and immediately get your fill of the outdoors.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/56 Annie Craig Drive-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/56 Annie Craig Drive.jpeg"/><img src="https://media.strata.ca/article-images/146/56 Annie Craig Drive.jpeg" alt="null"/></picture><a href="https://strata.ca/whitby/650-680-gordon-st-harbourside-condos/unit-401" target="_blank">670 Gordon St, Unit 401</a> | $749,900 | WhitbyOne of the great things about a cottage is the outdoor space. And with two beautiful balconies, this <a href="https://strata.ca/whitby/condos-for-sale" target="_blank">Whitby condo for sale</a> has plenty! The one bedroom plus den is a unique space boasting 864 square feet of functional layout. The spacious kitchen is even decorated with cottage-style in mind &mdash; and includes plenty of cupboard space with open shelves to give off a rustic vibe. Get that luxury cabin feel, without ever having to leave the GTA.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/670 Gordon St-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/146/670 Gordon St.jpeg"/><img src="https://media.strata.ca/article-images/146/670 Gordon St.jpeg" alt="null"/></picture>

GTA Condos For Sale That Feel Like the Cottage

Have you ever thought to yourself that owning a penthouse in the GTA is a far-off dream? Think again. There are a number of penthouses on the market in and around Toronto going for less than $750,000.While a penthouse is defined as being a unit on a building&rsquo;s highest floor &mdash; they typically offer larger spaces, panoramic views and some have features unique to the top floor.Even with a hot housing market, there are plenty of unique penthouses available for less than $750,000, so you can live a life of luxury without totally breaking the bank. From two-storey units to idyllic suites with built-in fireplaces, there are plenty of penthouse condos for sale in Toronto, Richmond Hill, Brampton and Durham with a certain je ne sais quois that&rsquo;ll have guests saying &lsquo;wow&rsquo; upon entry.<a href="https://strata.ca/toronto/39-annie-craig-dr-cove-at-waterways-condos/unit-1705" target="_blank">39 Annie Craig Dr, Unit 1705</a> | $599,000 | EtobicokeThis stunning corner unit in <a href="https://strata.ca/toronto/etobicoke/condos-for-sale" target="_blank">Etobicoke</a> boasts 10-foot ceilings and a wraparound balcony. The one bedroom plus den has 546 square feet of open concept space, so you can make the most of the natural light pouring in through huge windows. During the cold winter months, you can cozy up in front of the gas fireplace encased in a custom feature wall.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/Annie Craig-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/Annie Craig.jpeg"/><img src="https://media.strata.ca/article-images/145/Annie Craig.jpeg" alt="null"/></picture><a href="https://strata.ca/brampton/8-lisa-st-ritz-towers-condos/unit-2907" target="_blank">8 Lisa St, Unit 2907</a> | $624,000 | BramptonWraparound windows and a wood burning fireplace give this unit a little something extra. With two beds plus den and two baths, this 1,249 square foot penthouse has plenty of living space for you to call &lsquo;home&rsquo;. The west-facing suite comes with stunning views of <a href="https://strata.ca/brampton/condos-for-sale" target="_blank">Brampton</a>, <a href="https://strata.ca/mississauga/condos-for-sale" target="_blank">Mississauga</a>, Toronto and Norton Pond. The building isn&rsquo;t short on amenities either. From indoor and outdoor pools to a tennis court and game room, <a href="https://strata.ca/brampton/8-lisa-st-ritz-towers-condos" target="_blank">The Ritz Towers</a> have a lot to offer.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/8 Lisa-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/8 Lisa.jpeg"/><img src="https://media.strata.ca/article-images/145/8 Lisa.jpeg" alt="null"/></picture><a href="https://strata.ca/toronto/202-bathurst-st-109-wolseley-st-origami-lofts/unit-501" target="_blank">109 Wolseley St, Unit 501</a> | $699,000 | TorontoLocation, location, location! This penthouse is in the heart of the trendy <a href="https://strata.ca/toronto/condos-for-sale" target="_blank">Toronto</a> neighbourhood of Trinity Bellwoods. The unique space has an industrial vibe with exposed concrete walls and ventilation. There&rsquo;s a stunning skylight so you can make the most of the sun all day long. And that skylight isn&rsquo;t the only place you&rsquo;ll be getting some sun &mdash; this penthouse boasts a 78 square foot balcony. As if that weren&rsquo;t enough, this west end suite also features a gorgeous custom quartz island plus nine foot ceilings.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/Origami Lofts-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/Origami Lofts.jpeg"/><img src="https://media.strata.ca/article-images/145/Origami Lofts.jpeg" alt="null"/></picture><a href="https://strata.ca/oakville/1230-marlborough-crt-the-sovereign-condos/unit-1104" target="_blank">1240 Marlborough Crt, Unit 1104</a> | $699,900 | OakvilleThe design of this <a href="https://strata.ca/oakville/condos-for-sale" target="_blank">Oakville</a> penthouse offers the luxury and brightness of an open concept space while leaving room for privacy. The two bed, two bath unit boasts nearly 1,300 square feet of functional layout. A large dining space just outside the kitchen is the perfect place to host a dinner. The bedrooms offer plenty of room, with the primary bedroom complete with walk-in closet and 4-piece ensuite bath. The only drawback to this gorgeous property is that there&rsquo;s no outdoor space. However, the building itself offers an outdoor pool for those hot summer months.<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/1240 Marlborough-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/1240 Marlborough.jpeg"/><img src="https://media.strata.ca/article-images/145/1240 Marlborough.jpeg" alt="null"/></picture><a href="https://strata.ca/richmond-hill/370-highway-7-royal-gardens-condos/unit-1019" target="_blank">370 Highway 7 E, Unit PH19</a> | $750,000 | Richmond HillHere&rsquo;s your chance to own a rare corner unit penthouse in one of <a href="https://strata.ca/richmond-hill/condos-for-sale" target="_blank">Richmond Hill&rsquo;s</a> most in-demand buildings. If high-rises aren&rsquo;t your thing, but clear panoramic views are a must, this suite is the perfect mix. Located on the 10th floor of the Royal Gardens Condos, you can enjoy peaceful northwest views of the GTA from your own rooftop terrace. Among the many upgrades, the newly added kitchen island with quartz countertop is probably our favourite!<picture><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/370 Highway 7-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://media.strata.ca/article-images/145/370 Highway 7.jpeg"/><img src="https://media.strata.ca/article-images/145/370 Highway 7.jpeg" alt="null"/></picture>

Cheapest Penthouses For Sale in the GTA Under $750,000

There was once a time when Torontonians would never dream of living in cities like Ajax, Mississauga or Vaughan because it was simply &lsquo;too far&rsquo;. But of course that era is long gone as homebuyers explore their options further and further outside city limits; an exploration fuelled by that desperate search for affordability.No doubt this ongoing quest for cheaper housing has brought many people to the city of Hamilton. A former blue-collar steeltown whose economy was once famously dominated by Stelco and Dofasco &mdash; Hamilton is now seen as simply an extension of the GTA suburbs.<h2>Hamilton condo values jump by 68%</h2>Last spring, <a href="https://strata.ca" target="_blank">Strata.ca</a> data showed Hamilton was one of the hottest real estate markets to emerge from the COVID-19 pandemic. At the time, condo sales had <a href="https://strata.ca/blog/hamilton-condo-prices-appear-to-be-cooling-off-even-though-sales-nearly-triple" target="_blank">nearly tripled</a> compared to one year prior.When it comes to property values, Hamilton has seen some of the highest appreciation rates in all of Ontario. Right now, the average cost per square foot (PSF) on a <a href="https://strata.ca/hamilton/condos-for-sale" target="_blank">Hamilton condo for sale</a> is $641. That&rsquo;s a far cry from the humble $388 PSF back in April 2020, indicating an overall price increase of 68%. Like elsewhere in Ontario, this jump is largely attributed to a drop in supply &mdash; yet an exponential increase in the number of homebuyers trying to make The Hammer their new home.<h2>&ldquo;Pushed out to the &lsquo;Hamiltons&rsquo; of Hamilton&rdquo;</h2>Until now, headlines have largely focused on the Torontonians moving to Hamilton, taking advantage of relatively cheaper housing and a different pace of life. But we want to know &mdash; what has this migration meant for the people already living in Hamilton their entire lives?We checked in with Christopher Climie, a partnering agent at Strata.ca who specializes in Hamilton real estate. Here are his insights.1) First off, what do you think is behind this stunning increase in Hamilton property values?Christopher: I&rsquo;d say Hamilton originally gained some momentum in 2017, even before the COVID-19 pandemic. That&rsquo;s when several Toronto-based magazines were featuring Hamilton as an up and coming city. Reliable GO train service plus word of new housing developments is what made Torontonians realize en masse that Hamilton was the next Oshawa, Mississauga or Vaughan.Essentially, Hamilton was one of the last places to find affordable housing with relative accessibility. For sure it&rsquo;s still a long commute into downtown Toronto. But it&rsquo;s doable. And that&rsquo;s what mattered most to people.2) So what changed then when the pandemic actually hit?Christopher: When Ontario&rsquo;s first lockdown happened in March 2020 and people started working from home, many Torontonians began to realize the $3,000 they&rsquo;re paying in rent could easily get them a purchased home in Hamilton with minimal down payment. I saw this realization play out over and over again with my Toronto-based clients looking to make the move out here. That&rsquo;s when a mass pilgrimage to Hamilton began, triggering that steady increase in property values.We saw this influx again in 2021 as the &lsquo;late adopters&rsquo; (uncertain if they were ever going back to the office in-person) also decided to make that pilgrimage. At the same time, Hamilton was making headlines for its rising property values. And this definitely pushed even more people into the Hamilton market, largely driven by a &lsquo;now or never&rsquo; mentality.I want to add that the pandemic has also brought a lot of ex-Hamiltonians back to our city. Generally people who want to be close to family again, and use their buying power to purchase a house rather than rent an apartment in Toronto.3) So what has this meant for those originally from Hamilton, who are trying to purchase real estate in their own city?Christopher: I&rsquo;ve talked to a lot of Hamiltonians, and they feel prices here are just too high. Much in the same way that Torontonians have looked outside city limits for affordability &mdash; those born and raised here are being pushed into the &lsquo;Hamiltons&rsquo; of Hamilton. I have clients who are now looking at properties in Beamsville, Cayuga, Paris, London and even further beyond.4) And what&rsquo;s the sentiment among those who have already owned a home here for decades?Christopher: A lot of them are empty nesters, and they&rsquo;re cashing out because they never believed their house could ever be worth a million dollars. You have to remember, anything remotely close to that price point was always seen as a &lsquo;Toronto thing&rsquo;. Nobody ever imagined this would happen in Hamilton.5) Where do you see Hamilton real estate headed over the next few months and beyond?Christopher: I think we&rsquo;re going to see a repeat of 2017. That&rsquo;s when prices jumped right before the spring market, but then settled during April and May. Things were then quiet over the summer months. But if you want to look ahead to, say, the next three years &mdash; I can&rsquo;t predict what&rsquo;ll happen because even the past three years alone have shocked a lot of us.6) How do you see Hamilton adapting to the ongoing influx of buyers from outside the city?Christopher: The truth is, many of those born and raised here are feeling pushed out. So they&rsquo;re pushing back by demanding our governments provide affordable housing and more rent controls. In fact, the community just succeeded in pushing through a <a href="https://www.hamilton.ca/starting-small-business/business-licences/rental-housing-licensing-pilot-program" target="_blank" rel="nofollow">pilot project</a> in three Hamilton wards in response to their concerns on illegal rental units. This is one example of an initiative that may help cool an overheated market, albeit indirectly.But even outside real estate, Hamilton has seen a tremendous revival during the past 10 years. This was always a blue-collar city, but many people have accepted that things have changed. Our neighbourhoods have evolved, and there&rsquo;s a profound entrepreneurial spirit that now runs through our communities. It&rsquo;s not hard to see why Hamiltonians take such pride here. Many of us are anxious, yet very excited, to witness what&rsquo;s next for this great city.

Suburb Creep: What GTA’s Continued Push Into Hamilton Means For Those Already Living There 

Given the steady rise of GTA condo prices since the start of the COVID-19 pandemic, hardly anyone would blame you for believing in the appreciation potential of this particular housing segment. And considering the unrelentingly high price of detached housing, it&rsquo;s also not unreasonable to predict we&rsquo;re about to witness a mass shift away from the freehold market &ndash; further fuelling overall condo values.For example, the average cost of a <a href="https://strata.ca/toronto/condos-for-sale" target="_blank">Toronto condo for sale</a> is currently $743,278. That&rsquo;s a far cry from the average of $1,807,983 you must spend to get a detached house, or the $1,432,000 required for a semi-detached home. And that discrepancy could be enough to set up a landscape that overwhelmingly favours condo ownership. And during the past 12 months, condo values across the GTA increased by 16%. Currently, the average cost per square foot (PSF) is sitting at about $825, up from $714 PSF one year prior.Unsurprisingly though, condos in the neighbouring suburbs saw some of the biggest gains in 2021, dramatically outpacing Toronto:Markham: +26%Brampton: +24%Vaughan: +23%Pickering: +16%Toronto: +12%The disproportion, however, is likely due to a lack of affordability in places like the downtown core, and remote working arrangements that continue to influence purchasing decisions.<h2>&lsquo;Dark horse&rsquo; to see unexpected gains</h2>It goes without saying that the real estate landscape of 2021 was marred by soaring property values and stories of &lsquo;bidding wars&rsquo;, ultimately leading to buyer fatigue. For those dreaming of owning a detached home &ndash; the ongoing chasm between available listings and active buyers led to severe scarcity, triggering multiple offer scenarios seemingly at every turn.But the frenzied and unattainable nature of the freehold market is exactly why GTA real estate is poised to do an about-face, according to <a href="https://strata.ca" target="_blank">Strata.ca</a> broker, Cliff Liu.&ldquo;Throughout this pandemic, detached home values have sprinted like a hare, while condos have moved like a tortoise,&rdquo; he says. &ldquo;But condos will likely become the dark horse in 2022, especially among those who missed out last year.&rdquo;Like Liu, many realtors believe buyer focus is set to shift en masse towards condominiums, which could trigger a tremendous revival as detached housing becomes further out of reach. This will be especially true for <a href="https://strata.ca/blog/townhouse-condos-in-gta-suburbs-hardest-to-buy-right-now-data-reveals" target="_blank">townhouse condos</a>, which have jumped in value by 25% in the past 12 months alone.&ldquo;Without a doubt, people will continue striving for bigger units that feel like a bungalow in the sky,&rdquo; predicts Liu, who thinks this is because socializing space is no longer seen as existing solely outside the home.&ldquo;With ongoing restaurant and nightclub <a href="https://www.cbc.ca/news/canada/toronto/ontario-cabinet-meeting-covid-spike-1.6302223" target="_blank" rel="nofollow">restrictions</a>, people understandably now want that social space inside their homes,&rdquo; Liu explains. &ldquo;And this means a 500-square-foot condo will no longer do.&rdquo;This doesn&rsquo;t mean, however, that smaller units will be undesirable. They will still be an attractive option for investors or perhaps the <a href="https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/supplementary-immigration-levels-2021-2023.html" target="_blank" rel="nofollow">411,000 new permanent residents</a> Canada expects to welcome this year.<h2>Condo size, not affordability, to dominate purchasing decisions</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/132/sidekix-media-jt2I98bh53A-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/132/sidekix-media-jt2I98bh53A-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/132/sidekix-media-jt2I98bh53A-unsplash.jpg" alt="Toronto condo interior"/></picture>So where does all this leave the average Ontario homebuyer &ndash; particularly first-timers and young families who want a shot at ownership, but don&rsquo;t want to live in cramped units?According to some agents, buyers turning to the &lsquo;dark horse&rsquo; condo market must first make an important decision that usually has nothing to do with affordability.&ldquo;Do they want to purchase something older but bigger, versus something newer but smaller?,&rdquo; asks Strata.ca realtor, Galina Sheveleva, who says many of her clients struggle with this question.This is because, as Liu pointed out earlier, people&rsquo;s perceptions around space have shifted over the past two years.&ldquo;Older condos tend to have <a href="https://strata.ca/blog/top-5-condos-in-toronto-with-the-biggest-layouts-for-the-best-price" target="_blank">better layouts</a> and generally more square footage, although hallways and lobbies can be quite outdated,&rdquo; explains Sheveleva. &ldquo;Newer buildings usually offer better finishes and taller ceiling heights, but I&rsquo;ve seen some very awkward floor plans there that&rsquo;ll make you scratch your head.&rdquo;Whether condo size will end up dominating purchasing decisions this year remains to be seen. But what is certain is that real estate prices in the GTA will continue to rise. The government is just not doing enough to narrow the gap between shrinking supply and an ever-growing base of active buyers.Ontario not only needs more housing, but better policies &ndash; such as making it illegal to leave investment properties vacant. A <a href="https://www.thestar.com/business/2021/04/19/federal-tax-targets-foreign-home-buyers.html" target="_blank" rel="nofollow">1% tax</a> tax won&rsquo;t make a dent.As for that &lsquo;Dark Horse&rsquo;? Well if in doubt, we can refer to the condo market&rsquo;s infamous rise in 2017. This is the same year when the price of detached housing literally <a href="https://www.thestar.com/business/2021/04/19/federal-tax-targets-foreign-home-buyers.html" target="_blank" rel="nofollow">fell off a cliff</a>, while condo prices continued to peak.&ldquo;Detached homes and condominiums are like yin and yang,&rdquo; says Liu. &ldquo;They tend to move cyclically, always chasing each other to find that new balance.&rdquo;

GTA Condos to Become the 'Dark Horse' of 2022 as Buyer Attention Set to Shift En Masse 

Scraping together a down payment can be a monumental task, even in the best of markets. So considering the cost of GTA real estate these days, it&rsquo;s understandable why so many homebuyers are feeling squeezed at every turn. That&rsquo;s why some are turning to mom and dad for financial help. But that also means they have to listen to their parents give a ton of real estate &lsquo;advice&rsquo; in the process.<a href="https://strata.ca" target="_blank">Strata.ca</a> realtors say it&rsquo;s more common these days to see parents tagging along on their clients&rsquo; property showings. There are times though when mom and dad don&rsquo;t actually know best. Here, two of our top agents share some of the worst real estate tips they&rsquo;ve heard from well-meaning parents this past year.<h2>Terrible Advice #1: Just wait it out until you find the &lsquo;perfect&rsquo; place</h2>Sam Massoudi, an agent at Strata.ca, had a client who missed out on a condo he absolutely loved because his parents simply thought the unit was &lsquo;not in good shape&rsquo;. In fact, the unit was fairly new and built by one of the best developers in Toronto. Only thing was the place had been rented out to a tenant who left a lot of scuff marks on the walls.&ldquo;I tried explaining to my client and his parents that they must see through that,&rdquo; says Massoudi. &ldquo;It was a small one-bedroom so painting wouldn&rsquo;t cost much, especially if it meant securing a place that checked all the boxes.&rdquo;But due to parental pressure, his client ended up sacrificing that unit. And their search went on for two more months until they found another condo.&ldquo;Sure, he saved $1,500 on painting, but the market was up by another 2 per cent by this time,&rdquo; according to Massoudi, who adds that this resulted in them paying an extra $11,000 overall.<h2>Terrible Advice #2: Put in low-ball offers</h2>Some parents will tell their home-hunting children to repeatedly put in what are known as &lsquo;low-ball&rsquo; offers, until someone finally accepts their ridiculously cheap bid. After all, who doesn&rsquo;t want to save money?For those unfamiliar &mdash; low-balling is a technique used by homebuyers to purchase a property for much less than fair market value for the property, and well below the seller&rsquo;s asking price. Oftentimes, the strategy ends up backfiring and the buyer walks away having deeply offended the seller. Understandably, the seller doesn&rsquo;t often want to entertain any subsequent offers from the same buyer, as they&rsquo;re perceived to be acting in bad faith.&quot;Parents who tell their kids to use this strategy are not understanding how competitive this market is,&rdquo; says Strata.ca realtor Jenelle Tremblett, who notes there are buyers who will gladly pay top dollar for a property in the GTA. &ldquo;Follow the lead of your realtor as they know the pulse of competition, and can properly advise if low-balling is even worth your time.&rdquo;The reality is that most sellers would first opt for a smaller price reduction and see how the market responds, before outright accepting a dramatically lower offer price.<h2>Terrible Advice #3: Buy your &lsquo;forever&rsquo; home</h2>Your first home doesn&rsquo;t have to be the place you retire in. But many parents will pressure their adult children to find their &lsquo;forever&rsquo; home to avoid the annoyances of moving again.&ldquo;But the problem with this advice is that it&rsquo;s not even realistic in places like the GTA where property values are already so expensive,&rdquo; according to Massoudi.This is why many agents advise first-time homebuyers to begin in a modest home they can comfortably afford. Over the next several years, you can gather some equity before moving on to another property that suits your next life stage.<h2>Terrible Advice #4: Use the listing agent to represent you</h2>The sole purpose of the listing agent is to represent the best interests of the seller. But according to Tremblett, we hear parents tell their children to use that same realtor as a way to save money.This piece of advice though just doesn&rsquo;t add up. In real estate transactions, it&rsquo;s the seller&rsquo;s obligation to pay the commissions for both their agent and the buyer&rsquo;s. So if you&rsquo;re not the one paying, why not get your own realtor? As well, the listing agent&rsquo;s interest is to squeeze as much money out of the buyer as possible, in an effort to represent the seller well and earn repeat business down the road.&ldquo;The seller&rsquo;s agent represents the seller, so they don&rsquo;t owe you anything in the negotiations,&rdquo; Tremblett explains. &ldquo;Everyone deserves their own representation, which is why you need to get someone in your corner if you don&rsquo;t want to overpay.&rdquo;<h2>So, do parents really know best?</h2>Let&rsquo;s face it &ndash; there are some instances where parents don&rsquo;t actually know best. And when it comes to real estate, let&rsquo;s not forget many of them bought their first home some 30 years ago during a completely different economy.But it&rsquo;s not uncommon for parents to still want to be involved in every step of their child&rsquo;s homebuying journey because they want to protect their kids. And as Sam Massoudi puts it, &ldquo;Some parents are also co-signing on these mortgages, so they may feel they have final say.&ldquo;Even though parents may have bought and sold a home back in the day, &ldquo;the truth is many of them remain disconnected from today&rsquo;s market and how things work,&rdquo; Massoudi adds.Tremblett agrees, and hopes parents will begin to realize that today&rsquo;s housing landscape is quite different from the 80s and 90s.

Family Matters: The Terrible Home Buying Advice We Hear From Parents

It&rsquo;s a known fact among Canadian realtors that the housing market definitely has a dormant season. Traditionally, real estate activity tends to slow down near the end of the fall as people get ready to bunker in for the winter months.Prior to the COVID-19 pandemic, you could pretty much expect a blanket cooldown across many areas of the condo sector. That&rsquo;s because it was assumed that most people just weren&rsquo;t interested in transacting on anything when it&rsquo;s cold outside and leading up to the (often costly) holidays in December. (It&rsquo;s important to note, however, that realtors have largely expected competition to remain fairly consistent for <a href="https://strata.ca/toronto/downtown/condos-for-sale" target="_blank">downtown Toronto condos for sale</a>, even in the slowest months of December and January.)But over the past year and half, the shifting priorities among Ontario homebuyers has meant that many of the &lsquo;seasonal rules&rsquo; realtors have come to expect are just no longer relevant. So while it&rsquo;s true that there is a decrease in overall demand &mdash; we may still see a competitive market this winter, but only for very specific unit types.<h2>Smaller units, suburban townhomes most coveted</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/130/Pickering_frenchmens_bay-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/130/Pickering_frenchmens_bay.jpeg"/><img src="https://strata.ca/slate-image/article-images/130/Pickering_frenchmens_bay.jpeg" alt="Pickerings Frenchmen's Bay"/></picture>After all the stories this past year of surging prices and fierce competition, it&rsquo;s no surprise that buyer fatigue is real. But what about right now? Is the GTA condo market cooling down, or is it still on fire?Most agents at <a href="https://strata.ca" target="_blank">Strata.ca</a> will say it really depends on what you&rsquo;re looking for.&ldquo;In general, yes there&rsquo;s definitely a cooling of the market,&rdquo; says Strata.ca realtor Cyrus Ghazvini, who represents clients in a number of high-profile neighbourhoods, especially in <a href="https://strata.ca/toronto/north-york/condos-for-sale" target="_blank">North York</a> and Toronto's <a href="https://strata.ca/toronto/east-end/condos-for-sale" target="_blank">East End</a>. &ldquo;But if you&rsquo;re looking specifically for a one bedroom or a one plus den, the demand is certainly high.&rdquo;One reason these smaller units are in higher demand is because a lot less of them are being put up for sale. For example &mdash; When it comes to larger units, such as 2 bedrooms, 758 have been listed so far in the month of November. But take a look at the number of new listings for those coveted smaller units:<ul><li>1 bedroom: 444 new listings</li><li>1 bedroom+Den: 506 new listings</li></ul>Similarly, competition for condominium townhomes in the GTA suburbs remains particularly fierce...despite a general cooling of the market. Strata.ca realtor Osman Omaid has felt this firsthand as he tries to secure a townhouse for one of his clients in Peel.&ldquo;Even with a reasonable budget, we&rsquo;ve been losing out because some of these listings are attracting over 10 bids on offer night,&rdquo; he says, adding that his clients lost out on two townhouses in a relatively short period. &ldquo;My clients are understandably exhausted and have decided to wait until next year; but who knows where prices will be by then?&rdquo;Omaid says one of the most interesting things about his client&rsquo;s situation is that had they begun the townhome search just several weeks prior &mdash; things may have played out quite differently.&ldquo;It was so irritating because my client&rsquo;s budget would have easily secured them a property just five weeks prior,&rdquo; he explains. &ldquo;Demand spiked so fast that comparable sold prices weren&rsquo;t even relevant anymore.&rdquo;It appears to be a different story though for condos in that middle territory. There are many high-quality 2-bedroom listings in popular neighbourhoods that aren&rsquo;t attracting as much attention. Had we been in a different market, the following units may have sold already:<ul><li><a href="https://strata.ca/toronto/8-wellesley-st-eight-wellesley-street-east/unit-807" target="_blank">8 Wellesley St E, Unit 807</a></li><li><a href="https://strata.ca/toronto/38-forest-manor-rd-the-point-at-emerald-city-condos/unit-1310" target="_blank">38 Forest Manor Rd, Unit 1310</a></li><li><a href="https://strata.ca/toronto/260-merton-st-the-hampton-condos/unit-901" target="_blank">260 Merton St E, Unit 901</a></li><li><a href="https://strata.ca/mississauga/8-ann-st-nola-condos/unit-201" target="_blank">8 Ann St, Unit 201</a></li></ul><h2>&lsquo;No offers came in on offer night. Period.&rsquo;</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/130/ferdinand-stohr-1m4VlCcKaqA-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/130/ferdinand-stohr-1m4VlCcKaqA-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/130/ferdinand-stohr-1m4VlCcKaqA-unsplash.jpg" alt="Toronto Esplande Iron Tower"/></picture>Realtors say they&rsquo;re seeing a trend where a number of units are being relisted because the seller&rsquo;s original pricing strategy backfired. One such strategy is to include what&rsquo;s called an &lsquo;offer date&rsquo;, which is a specific time when the seller will accept and review offers from all interested buyers, usually about a week after the property is listed on the market.&ldquo;I&rsquo;m seeing offer dates listed by overly optimistic listing agents, but then many of those same listings are being put back on the market at a higher price a week later,&rdquo; explains Ghazvini, who says he&rsquo;s pretty sure it wasn&rsquo;t because the seller didn&rsquo;t like any of the offers that came through. &ldquo;It&rsquo;s likely because &lsquo;no&rsquo; offers came in on offer night, period.&rdquo;In the past 12 months, we&rsquo;ve actually seen a 20% increase in GTA condo values as we continue to see some of the lowest inventory in 25 years. However, a lot of that price gain is attributable to a natural &lsquo;snapping back&rsquo; from pandemic pricing as the market resumes some degree of normalcy.During this adjustment period, there&rsquo;s often a lag where sellers still believe they may get a minimum of 5 to 10 offers on their property. But this is certainly a different market from the one we saw back in March, which saw condo values jump by 11 per cent in just three months alone. So in practice &mdash; some sellers, particularly those without the coveted smaller units or suburban townhomes, are seeing far fewer offers or simply none at all.The good news though is that buyers will continue fighting for unique condos, especially in high-demand buildings; no matter the unit type.&ldquo;A few of my clients that had decided to sit on the sidelines a couple of months ago are now calling me to restart their search,&rdquo; says Strata.ca realtor Larry Medina. &ldquo;They&rsquo;re feeling a bit more hopeful and optimistic as the market, or at least parts of it, cool down for the winter.&rdquo;

Has the GTA Condo Market Finally Cooled Off? Depends What You’re Looking For

One of the perks of living in a condo are the amenities. From an indoor pool to round-the-clock concierge, there are certain comforts that come standard in most buildings. And as a wave of new condos continues to spill into the GTA, it&rsquo;s no surprise that developers would try to out-do each other in terms of what they offer.But what about those amenities the average pool of residents never asked for? These tend to be perks that are underused, and let&rsquo;s face it &mdash; sometimes overrated. And most notably, at the cost to owners via their maintenance fees.Our team asked <a href="https://strata.ca" target="_blank">Strata.ca</a> realtors what they think are the amenities that add the least value. Some of their answers may surprise you!<h2>Library</h2>&lsquo;Uncomfortable chairs, random books&rsquo;<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/ed-robertson-eeSdJfLfx1A-unsplash-650-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/ed-robertson-eeSdJfLfx1A-unsplash-650.jpg"/><img src="https://strata.ca/slate-image/article-images/126/ed-robertson-eeSdJfLfx1A-unsplash-650.jpg" alt="Library books"/></picture>We&rsquo;ve been told our entire lives that reading is good for the soul. So why is the condo library on this list?Realtors say this kind of amenity is good in theory, but it&rsquo;s always empty. Like, always.&ldquo;It&rsquo;s usually a beautifully decorated room with uncomfortable chairs and random books shoved into an old-timey bookcase,&rdquo; says <a href="https://strata.ca" target="_blank">Strata.ca</a> agent, Osman Omaid. &ldquo;One time I saw a Hunger Games novel with half the spine chewed up.&rdquo;Libraries may have been popular before e-books and podcasts came along. But in today&rsquo;s tech-focused society, it appears people would rather do other things than sit in their condo library. Or maybe they&rsquo;re going to actual libraries.<h2>Golf Simulator Room</h2>&lsquo;A hockey net would be more suitable'<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_golf_simulator-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_golf_simulator.jpeg"/><img src="https://strata.ca/slate-image/article-images/126/00_golf_simulator.jpeg" alt="Golf SImulator"/></picture>By far this one was mentioned over and over by our agents. The golf simulator room is perhaps one of the most underused amenities, right up there with the condo library.When compared to basketball or tennis courts, &ldquo;it&rsquo;s just not that dynamic,&rdquo; says Strata realtor Cyrus Ghazvini. &ldquo;I imagine a golf simulator machine is expensive to replace or fix if broken, so why not find a better use of funds and space?&rdquo;And as fellow agent Alex Hood puts it, &ldquo;This is Canada, so a hockey net would be more suitable.&rdquo;<h2>Tennis Court</h2>Depends on the crowd...and COVID?<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/tim-chow-iiWhddT4SB4-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/tim-chow-iiWhddT4SB4-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/126/tim-chow-iiWhddT4SB4-unsplash.jpg" alt="Tennis Court"/></picture>&ldquo;I&rsquo;ve had clients who were obsessed with the idea of having a tennis court, but they&rsquo;re definitely underused,&rdquo; says Francisco Hiebert, real estate agent at Strata.ca.This is an amenity that got mixed reviews from realtors. A few agents swear the tennis courts they&rsquo;ve seen are disheveled and empty. But others say courts are often booked 24/7.&ldquo;Some buildings love it, but it really depends on the crowd,&rdquo; says Strata.ca realtor, Gilda Motamed, who notes that during the pandemic, most other amenities were closed.&ldquo;At the <a href="https://strata.ca/toronto/103-the-queensway-nxt-condos" target="_blank">NXT Condos</a>, for example, the courts have been booked from morning to night during COVID.&rdquo;Fellow realtor Sam Massoudi agrees, saying &ldquo;I&rsquo;m at NXT every Friday playing as a guest visitor, and it&rsquo;s pretty busy, especially in summer months.&rdquo;<h2>Pet Spa &amp; Dogwashing Room</h2>General consensus: Makes no difference<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_pet_wash_Station-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_pet_wash_Station.jpeg"/><img src="https://strata.ca/slate-image/article-images/126/00_pet_wash_Station.jpeg" alt="Pet Wash Station"/></picture>Condos with pet spas and dog washing facilities are often located near dog parks, so they can attract a certain type of resident. <a href="https://strata.ca/toronto/3018-yonge-st-3018-yonge-condos" target="_blank">3018 Yonge Street</a> in <a href="https://strata.ca/toronto/midtown/condos-for-sale" target="_blank">Midtown</a> and the <a href="https://strata.ca/toronto/121-mcmahon-dr-125-131-mcmahon-dr-tango-condos" target="_blank">Tango Condos</a> in <a href="https://strata.ca/toronto/north-york/bayview-village/condos-for-sale" target="_blank">Bayview Village</a> both offer perks for pets. But our agents agree that unless you&rsquo;re a pet owner, amenities for animals don&rsquo;t make much of a difference.<h2>Swimming Pool</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_condo_pool-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_condo_pool.jpeg"/><img src="https://strata.ca/slate-image/article-images/126/00_condo_pool.jpeg" alt="8 York Condo Pool"/></picture>You often see swimming pools in older condos. But these days, how often do you see residents swimming and lounging poolside?Not that this is a scientific observation, but there&rsquo;s actually a heated pool in my mother&rsquo;s building, and every time I walk by it&rsquo;s sitting empty. The only action you&rsquo;ll ever see is the steam emanating from it.Pools are among the most expensive amenities to maintain. These funds could almost certainly be put to better use.<h2>BBQ</h2>&lsquo;A new generation of people aren&rsquo;t cooking&rsquo;<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_rooftop_bbq-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_rooftop_bbq.jpeg"/><img src="https://strata.ca/slate-image/article-images/126/00_rooftop_bbq.jpeg" alt="Rooftop BBQ"/></picture>Here&rsquo;s an amenity we didn&rsquo;t expect to see on this list. But it appears the communal BBQ may not be as widely used in some condos.According to Strata realtor Larry Medina, whose own condo board did some research on amenities, the BBQ was rarely used.&ldquo;I was shocked, but when we looked at the booking rates, they were nearly non-existent,&rdquo; he says. &ldquo;I think it&rsquo;s because a new generation of people aren&rsquo;t cooking as much as, say, our parents used to.&rdquo;

'Golf Simulator Room?!' Real Estate Agents Share Most Underused (and Overrated) Condo Amenities

If there&rsquo;s one thing we&rsquo;ve learned this past year and a half, it&rsquo;s that not even a global pandemic can stop Toronto&rsquo;s real estate market. We&rsquo;ve known all along that rising property values are not only impacting first-time homebuyers, but also forcing many residents to look further and further beyond city limits.For the first time since the start of the COVID-19 pandemic, <a href="https://strata.ca" target="_blank">Strata.ca</a> has aggregated enough data to solidly illustrate the spillover effect of Toronto&rsquo;s expensive housing market. Our real estate platform holds granular data about every condominium in the GTA. To rank properties based on their demand, Strata.ca looks at three criteria:<ul><li>Number of days that a unit spends on market before it&rsquo;s sold (aka DOM)</li><li>Appreciation rate over past 2 years</li><li>Average sale-to-list-price ratio (how much a buyer typically pays in relation to the original asking price)</li></ul>The top 10 most in-demand properties all follow a distinct trend. With the exception of one complex, the rest are townhouse condos located in the suburbs.Ontarians had always known a mass migration of sorts was taking place as homebuyers looked outside the city for affordability. But still, our team didn&rsquo;t expect suburban townhomes to dominate the list as much as they did.With the average price of a detached home now above $1 million, it only makes sense for people to chase after the next best thing. After all, the average price of a GTA townhome is $617 per square foot (PSF) or roughly $730,000.Strata.ca realtor Ben Lavrysen agrees, saying, &ldquo;Buyers are looking for the best mix of space and affordability, which is more easily found in the suburbs.&rdquo;Homebuyers on average are paying a stunning 8.5 per cent above the list price for <a href="https://strata.ca/blog/cheapest-neighbourhoods-in-toronto-right-now-to-buy-a-townhome" target="_blank">townhomes</a>, largely fuelled by low inventory.&ldquo;Expect competition to increase even further for this limited housing category as we continue to see the lowest active MLS listings in 25 years,&rdquo; Lavrysen says.Here are the top 10 condos that are most in-demand right now. With the exception of one property in Toronto, the rest are townhomes outside city limits.1) <a href="https://strata.ca/oshawa/960-glen-st-960-glen-street-townhomes" target="_blank">960 Glen Street</a> | Lakeview Park, Oshawa | Townhomes<ul><li>Average DOM: 6 days</li><li>Appreciation Rate: +34%</li><li>List vs. Selling Price: 32% above asking</li></ul>View more <a href="https://strata.ca/oshawa/condos-for-sale" target="_blank">Oshawa condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_960_Glen_st-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_960_Glen_st-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/00_960_Glen_st-650.jpeg" alt="960 Glen St Oshawa"/></picture>2) <a href="https://strata.ca/toronto/1765-queen-st-e-the-beach-condominiums-iii" target="_blank">1765 Queen Street E</a> | The Beaches, Toronto | Low-Rise<ul><li>Average DOM: 3 days</li><li>Appreciation Rate: +40%</li><li>List vs. Selling Price: 26% above asking</li></ul>View more <a href="https://strata.ca/toronto/east-end/the-beaches/condos-for-sale" target="_blank">Beaches-Toronto condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_1765QueenStreetEast_Beach_Condominiums_III_Exterior-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_1765QueenStreetEast_Beach_Condominiums_III_Exterior-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/00_1765QueenStreetEast_Beach_Condominiums_III_Exterior-650.jpeg" alt="1765 Queen Street E The Beaches, Toronto Low-Rise"/></picture>3) <a href="https://strata.ca/oshawa/1300-oxford-st-1300-oxford-street-townhomes" target="_blank">1300 Oxford Street</a> | Lakeview Park, Oshawa | Townhomes<ul><li>Average DOM: 5 days</li><li>Appreciation Rate: +0%</li><li>List vs. Selling Price: 25% above asking</li></ul>View more <a href="https://strata.ca/oshawa/lakeview-park/condos-for-sale" target="_blank">Lakeview Park-Oshawa condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_1300_Oxford _St-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_1300_Oxford _St-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/00_1300_Oxford _St-650.jpeg" alt="1300 Oxford St Oshawa"/></picture>4) <a href="https://strata.ca/clarington/72-martin-rd-72-martin-road-townhomes" target="_blank">72 Martin Road</a> | Bowmanville, Clarington | Townhomes<ul><li>Average DOM: 7 days</li><li>Appreciation Rate: +32%</li><li>List vs. Selling Price: 24% above asking</li></ul>View more <a href="https://strata.ca/durham-region/clarington/condos-for-sale" target="_blank">Clarington condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_72_martin_road_townhomes-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_72_martin_road_townhomes-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/00_72_martin_road_townhomes-650.jpeg" alt="72 Martin Road Bowmanville, Clarington Townhomes"/></picture>5) <a href="https://strata.ca/oshawa/611-galahad-dr-611-galahad-townhomes" target="_blank">611 Galahad Drive</a> | Eastdale-Donevan, Oshawa | Townhomes<ul><li>Average DOM: 5 days</li><li>Appreciation Rate: +28%</li><li>List vs. Selling Price: 23% above asking</li></ul>View more <a href="https://strata.ca/oshawa/condos-for-sale" target="_blank">Oshawa condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_611_Galahad_Dr-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_611_Galahad_Dr-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/00_611_Galahad_Dr-650.jpeg" alt="611 Galahad Dr"/></picture>6) <a href="https://strata.ca/whitby/901-945-burns-st-w-key-east-townhomes" target="_blank">901-945 Burns Street W</a> | Lynde Creek, Whitby | Townhomes<ul><li>Average DOM: 5 days</li><li>Appreciation Rate: +31%</li><li>List vs. Selling Price: 22% above asking</li></ul>View more <a href="https://strata.ca/durham-region/whitby/condos-for-sale" target="_blank">Whitby condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_901_945_Burns_StreetW_Lynde_Creek_Whitby_townhomes-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/00_901_945_Burns_StreetW_Lynde_Creek_Whitby_townhomes-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/00_901_945_Burns_StreetW_Lynde_Creek_Whitby_townhomes-650.jpeg" alt="901-945 Burns St W whitby"/></picture>7) <a href="https://strata.ca/oakville/1270-gainsborough-dr-1270-gainsborough-townhomes" target="_blank">1270 Gainsborough Drive</a> | Iroquois Ridge, Oakville | Townhomes<ul><li>Average DOM: 3 days</li><li>Appreciation Rate: +6%</li><li>List vs. Selling Price: 19% above asking</li></ul>View more <a href="https://strata.ca/oakville/condos-for-sale" target="_blank">Oakville condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/01_1270 gainsborough dr-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/01_1270 gainsborough dr-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/01_1270 gainsborough dr-650.jpeg" alt="1270 Gainsborough Drive Iroquois Ridge, Oakville Townhomes"/></picture>8) <a href="https://strata.ca/mississauga/2035-south-millway-2035-south-millway-townhomes" target="_blank">2035 South Millway</a> | Erin Mills, Mississauga | Townhomes<ul><li>Average DOM: 10 days</li><li>Appreciation Rate: +26%</li><li>List vs. Selling Price: 17% above asking</li></ul>View more <a href="https://strata.ca/peel-region/mississauga/condos-for-sale" target="_blank">Mississauga condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/01_2035 south millway-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/01_2035 south millway-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/01_2035 south millway-650.jpeg" alt="2035 South Millway Erin Mills, Mississauga Townhomes"/></picture>9) <a href="https://strata.ca/burlington/3050-rotary-way-cornersone-townhomes" target="_blank">3050 Rotary Way</a> | Millcroft-Uptown, Burlington | Townhomes<ul><li>Average DOM: 4 days</li><li>Appreciation Rate: +19%</li><li>List vs. Selling Price: 12% above asking</li></ul>View more <a href="https://strata.ca/halton-region/burlington/condos-for-sale" target="_blank">Burlington condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/01_ 3050_rotary_way_townhouses_3050_rotary_way-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/01_ 3050_rotary_way_townhouses_3050_rotary_way-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/01_ 3050_rotary_way_townhouses_3050_rotary_way-650.jpeg" alt="3050 Rotary Way Millcroft-Uptown, Burlington Townhomes"/></picture>10) <a href="https://strata.ca/mississauga/1905-broad-hollow-gate-townmanors-of-sawmill-valley" target="_blank">1905 Broad Hollow Gate</a> | Erin Mills, Mississauga | Townhomes<ul><li>Average DOM: 5 days</li><li>Appreciation Rate: +14%</li><li>List vs. Selling Price: 8% above asking</li></ul>View more <a href="https://strata.ca/mississauga/erin-mills/condos-for-sale" target="_blank">Erin Mills-Mississauga condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/01_1905 broad hollow gate-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/124/01_1905 broad hollow gate-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/124/01_1905 broad hollow gate-650.jpeg" alt="1905 Broad Hollow Gate Erin Mills, Mississauga Townhomes"/></picture>Because competition is fierce for these properties, hit &lsquo;Get Listing Alerts&rsquo; on the condo&rsquo;s profile page to be notified as soon as units hit the market.

Townhouse Condos in GTA Suburbs Hardest To Buy Right Now, Data Reveals

If the COVID-19 pandemic has taught us anything, it&rsquo;s that many of us are realizing the need for more space. Whether it&rsquo;s an extra room for that home office or a sudden desire for your own backyard &mdash; a lot of homebuyers are making square footage their biggest priority.But with surging property values across Toronto, it may be difficult to afford all that extra space. And if it&rsquo;s not feasible to buy a roomier home in the suburbs, then a condo townhouse within city limits may be the perfect choice.Last month in Toronto, the average townhome sold for about $640 per square foot (PSF) or roughly $730,000. And with people now craving more space, townhouses have become even more attractive.&ldquo;Townhomes provide at least some separation of space between work and personal life, since many of them are spread out over two or three floors,&rdquo; says <a href="https://strata.ca" target="_blank">Strata.ca</a> realtor Galina Sheveleva.She also adds that high-rise condos have been at somewhat of a disadvantage during the pandemic as residents struggle to maintain personal space, while making their way up to individual units.&ldquo;Add to that an older set of slow elevators or an elevator that&rsquo;s not in service, and you&rsquo;re spending what feels like half your life waiting to get up to your place.&rdquo;<h2>Condo Townhome vs. Freehold</h2>According to agents, the biggest reason why buyers choose to purchase a condo townhome over a freehold townhome is the price difference. Sheveleva points out that in Toronto, the gap in average price between the two is about $367,000, which is quite significant.&ldquo;Another reason for choosing condo townhouses is the lower level of upkeep on the property, since all the common elements and exteriors are maintained by the condominium corporation,&rdquo; she adds.If you&rsquo;re convinced a condo townhome may be the way to go &mdash; then check out the cheapest neighbourhoods below, plus some of the properties you can find there!<h2>Scarborough Village-Guildwood</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Guildwood_neighbourhood-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Guildwood_neighbourhood-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/Guildwood_neighbourhood-650.jpeg" alt="Guildwood Neighbourhood photo"/></picture><h3>Average price: $565,000 ($436 PSF)</h3>Stretching along Scarborough&rsquo;s beautiful waterfront, the neighbourhood of <a href="https://strata.ca/toronto/scarborough/scarborough-village-guildwood/condos-for-sale" target="_blank">Scarborough Village-Guildwood</a> will often land you the best bang for your dollar. With some of the lowest townhome prices in Toronto, this area offers a quieter lifestyle surrounded by nature &mdash; without having to leave the city.<a href="https://strata.ca/toronto/scarborough-golf-club-road-condos-44-78-scarborough-golf-club-rd-50-scarborough-golf-clu-rd-91-muir-dr/unit-92-e5357270" target="_blank">91 Muir Drive, Unit 92</a> | 3 beds, 2 bath | Asking price: $549,900<a href="https://strata.ca/toronto/scarborough-golf-club-road-condos-44-78-scarborough-golf-club-rd-50-scarborough-golf-clu-rd-91-muir-dr/unit-26-e5351240" target="_blank">91 Muir Drive, Unit 26</a> | 3 beds, 2 bath | Asking price: $629,900<a href="https://strata.ca/toronto/scarborough-golf-club-road-condos-44-78-scarborough-golf-club-rd-50-scarborough-golf-clu-rd-91-muir-dr/unit-133-e5353145" target="_blank">50 Scarborough Golf Club Rd, Unit 133</a> | 3 beds, 2 bath | Asking price: $499,900<h2>York University Heights</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/York_University_TTC-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/York_University_TTC-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/York_University_TTC-650.jpeg" alt="York University TTC Station"/></picture><h3>Average price: $591,500 ($510 PSF)</h3>This family-friendly neighbourhood also encompasses the main campus at York University. Sometimes referred to as Northwood Park, <a href="https://strata.ca/toronto/north-york/york-university-heights/condos-for-sale" target="_blank">York University Heights</a> is a large multicultural area with lots of greenspace and recreational facilities. Residents love the easy access to popular shopping centres like Yorkgate Mall, while younger families enjoy regular outings to <a href="https://blackcreek.ca/?utm_medium" target="_blank" rel="nofollow">Black Creek Pioneer Village</a>.<a href="https://strata.ca/toronto/four-winds-condos-21-37-four-winds-dr/unit--20-w5366691" target="_blank">37 Four Winds Drive, Unit 20</a> | 3 beds, 2 bath | Asking price: $649,900<a href="https://strata.ca/toronto/four-winds-condos-21-37-four-winds-dr/unit-40-w5332648" target="_blank">37 Four Winds Drive, Unit 40</a> | 2+1 beds, 2 bath | Asking price: $655,000<h2>Mount Dennis</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Mount_Dennis-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Mount_Dennis-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/Mount_Dennis-650.jpeg" alt="Mount Dennis community photo"/></picture><h3>Average price: $641,000 ($530 PSF)</h3><a href="https://strata.ca/toronto/york-crosstown/mount-dennis/condos-for-sale" target="_blank">Mount Dennis</a> is about to get much more accessible, thanks to the new <a href="https://strata.ca/blog/condo-values-explode-along-eglinton-crosstown-lrt-by-up-to-135" target="_blank">Eglinton Crosstown LRT</a>. Located along Eglinton Avenue between the Humber River and Kitchener GO line, residents can easily access Highway 401 with a quick journey up Black Creek Drive. Aside from its close proximity to major shopping districts, the area is also known for its vast greenspaces at Fergy Brown and Gladhurst parks.<a href="https://strata.ca/toronto/sidney-belsey-crescent-townhomes-50-74-sidney-belsey-cres/unit-103-w5366129" target="_blank">54 Sydney Belsey Cres, Unit 103</a> | 3 beds, 2 bath | Asking Price: $499,900<a href="https://strata.ca/toronto/sidney-belsey-crescent-townhomes-50-74-sidney-belsey-cres/unit-204-w5362647" target="_blank">56 Sydney Belsey Cres, Unit 204</a> | 3 beds, 2 bath | Asking Price: $670,000<h2>Westminster-Branson</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Westminster_Toronto_ON_Canada-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Westminster_Toronto_ON_Canada-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/Westminster_Toronto_ON_Canada-650.jpeg" alt="Westminster-Branson neighbourhood"/></picture><h3>Average price: $708,000 ($549 PSF)</h3>Traditionally popular with immigrants from the former Soviet Union&rsquo;s Jewish minority, this North York neighbourhood has become increasingly more diversified over the past few years. <a href="https://strata.ca/toronto/north-york/westminster-branson/condos-for-sale" target="_blank">Westminster-Branson</a> envelopes the eastern portion of G. Ross Lord Park and the northern tip of the West Don Parkland. Conveniently located at Bathurst and Finch, residents have easy access to major arteries like Highway 407 and The Allen.<h2>Jane and Finch</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/200-mclevin-avenue-JaneFinch-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/200-mclevin-avenue-JaneFinch-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/200-mclevin-avenue-JaneFinch-650.jpeg" alt="Jane Finch townhome development"/></picture><h3>Average price: $510,000 ($380 PSF)</h3>Although it may have some of the lowest condo prices in the city, <a href="https://strata.ca/toronto/north-york/jane-and-finch/condos-for-sale" target="_blank">Jane and Finch</a> also boasts one of the <a href="https://strata.ca/blog/jane-and-finch-rexdale-malvern-have-torontos-highest-condo-appreciation-rates-outpacing-downtown-core-by-nearly-20-report" target="_blank">highest appreciation rates</a> in Toronto. Located in the city&rsquo;s northwest corner, the area is easily accessible to various parts of the GTA due its close proximity to Highway 400.also boasts one of the highest appreciation rates in Toronto. Located in the city&rsquo;s northwest corner, the area is easily accessible to various parts of the GTA due its close proximity to Highway 400. is a high-density neighbourhood with a good mix of freeholds and high-rises. But still, there are many townhomes on the market well below the city&rsquo;s average.<a href="https://strata.ca/toronto/gosford-boulevard-townhomes-1-27-gosford-blvd/unit-9-w5357452" target="_blank">21 Gosford Blvd, Unit 9</a> | 2+1 beds, 2 baths | Asking price: $599,900<a href="https://strata.ca/toronto/12-28-london-green-townhomes-71-87-driftwood-ave-12-28-london-green-crt/unit-25-w5352015" target="_blank">75 Driftwood Ave, Unit 25</a> | 3 beds, 2 bath | Asking price: $699,000<a href="https://strata.ca/toronto/2901-jane-st-townhomes-2901-jane-st/unit-115-w5347970" target="_blank">2901 Jane Street, Unit 115</a> | 3 beds, 2 bath | Asking price: $599,000

Cheapest Neighbourhoods in Toronto Right Now to Buy a Townhome

When you think of Pickering, a casino resort, luxury hotel and flashy entertainment venues probably don&rsquo;t come to mind. But if all goes according to plan, the city is about to undergo a radical transformation that may leave it unrecognizable.Developers have been working on a 240-acre district known as <a href="http://dlive.ca/" target="_blank" rel="nofollow">Durham Live</a>, meant to create Pickering&rsquo;s definition of a downtown core. While most residents have traditionally made the trip to Toronto&rsquo;s downtown for work and entertainment, the hope is that this glimmering mixed-use space will brand Pickering as a destination of its own.But much like Pickering&rsquo;s ambitious development plans, its real estate market has seen a renaissance of its own. <a href="https://strata.ca" target="_blank">Strata.ca</a> data shows the eastern city is showing signs of a rebirth; one marked by surging property values and electrifying anticipation of what Pickering could become.Since the start of last summer, condo values here have soared. The average cost per square foot (PSF) went from $440 in June 2020 to $614 currently for an increase of about 40%. On average, a Pickering condo will cost you around $599,000, up from $489,000 a little over a year ago. Despite this increase though, the city is still cheaper than Toronto, which has an average condo price of $726,000.<h2>All comes down to a numbers game</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/scott-graham-5fNmWej4tAA-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/scott-graham-5fNmWej4tAA-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/116/scott-graham-5fNmWej4tAA-unsplash.jpg" alt="Investing paperwork with laptop"/></picture>Pickering is one of the top places in the GTA that&rsquo;s best positioned to give you the best return on your investment, according to Strata.ca&rsquo;s Broker of Record, Robert Van Rhijn. For potential homebuyers, he says it all comes down to a numbers game that just makes sense.&ldquo;You&rsquo;re getting in on a housing market that&rsquo;s about 17% cheaper than Toronto&rsquo;s. And yet, Pickering condo owners have seen gains more than double that in just 12 to 13 months alone.&rdquo;Although Strata.ca data shows bidding wars in the GTA have largely <a href="https://strata.ca/blog/toronto-condo-sales-down-in-april-prices-plateau-amid-buyer-fatigue" target="_blank">cooled since April</a>, homebuyers in Pickering have been consistently paying more than 6% above the list price for the past four months. Compare that to Toronto, where people are paying just 2% over the list price, on average.Cliff Liu, a broker at Strata.ca, says it&rsquo;s not hard to understand why Pickering is hotter than Toronto in some respects.&ldquo;My clients see Pickering as a good middle-ground. Compared to other suburban neighbourhoods, it&rsquo;s a pretty short drive or train ride to Toronto&rsquo;s downtown. It&rsquo;s one of the reasons Pickering has enjoyed healthy real estate values over the past 10 to 15 years.&rdquo;<h2>Closing in on Oshawa</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/Pickering_waterfront-600.jpeg " media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/Pickering_waterfront.jpeg "/><img src="https://strata.ca/slate-image/article-images/116/Pickering_waterfront.jpeg " alt="Pickering Frenchmen's Bay Marina"/></picture>You could say the nearby city of <a href="https://strata.ca/blog/oshawa-condos-rise-in-value-by-nearly-50;-officially-becomes-gtas-hottest-market" target="_blank">Oshawa</a> has become one of the biggest breakout characters in the drama of the COVID-19 pandemic. Since June last year, it has seen condos surge in value by 48% with little signs of slowing down. But Pickering, largely living in the shadows of Oshawa&rsquo;s red-hot ascent, is quietly closing in on its neighbour.Since the start of last summer in June 2020, the two cities have been leading Durham in terms of highest appreciation rates.&ldquo;Whitby and Ajax have been trailing behind at 29% and 17% respectively. But still, the Durham Region as a whole has proven to be a solid investment for homebuyers looking to escape Toronto,&rdquo; says Van Rhijn.<h2>Durham Townhomes Dominate List of Highest-Ranking Properties</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/00_Atria_Oshawa-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/00_Atria_Oshawa.jpeg"/><img src="https://strata.ca/slate-image/article-images/116/00_Atria_Oshawa.jpeg" alt="Oshawa Atria Condo"/></picture>Liu says he was recently examining data within Strata.ca&rsquo;s condo ranking reports for an investor client interested in Pickering and its surrounding areas.&ldquo;I was specifically looking for GTA condos that had seen the greatest value increases in the past 12 months. Out of 20 properties, I was surprised to see seven of them were actually in Durham.&rdquo;Interestingly, the highest appreciating properties were townhome complexes, most of them built in the 1970s:<h3>Pickering</h3><a href="https://strata.ca/pickering/bayshore-mews-townhomes-1230-radom-st" target="_blank">Bayshore Mews Townhomes</a> | 32%<h3>Oshawa</h3><a href="https://strata.ca/oshawa/wentworth-gardens-townhomes-401-wentworth-st-w" target="_blank">Wentworth Gardens Townhomes</a> | 37%<a href="https://strata.ca/oshawa/540-dorchester-townhomes-540-dorchester-dr" target="_blank">540 Dorchester Townhomes</a> | 36%<a href="https://strata.ca/oshawa/222-pearson-street-townhomes-222-pearson-st" target="_blank">222 Pearson Street Townhomes</a> | 36%<h3>Whitby</h3><a href="https://strata.ca/whitby/sprucedale-palisades-townhomes-1-118-sprucedale-way-10-34-palisades-crt" target="_blank">Sprucedale &amp; Palisades Townhomes</a> | +38%<a href="https://strata.ca/whitby/salmon-way-townhomes-1-110-salmon-way" target="_blank">Salmon Way Townhomes</a> | +33%Liu says he isn&rsquo;t surprised though that these older townhomes are rising the fastest.&ldquo;Yes, the finishes might be dated. But these units offer some of the biggest layouts in the GTA. If you can&rsquo;t afford a freehold in Toronto, a townhome in Durham is really a fantastic compromise.&rdquo;For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Pickering Condo Values Soar by 40% as City Prepares for Massive Transformation

A recent plunge in demand is bringing some relief for Toronto condo buyers as inventory levels rise and prices continue to plateau. In the past 60 days, the average cost per square foot (PSF) for a condo in the city is holding steady at $884. But not all segments of the market are seeing prices levelling off.In fact, Strata.ca data shows that competition remains incredibly fierce for three-bedroom condos.The average sold price of these coveted units is currently sitting at $905,220. Since March, that&rsquo;s an increase of 30% or roughly $210,000. The average cost PSF has also grown considerably over that same time period from $576 in March to $621 currently; an increase of nearly 8%.Strata.ca agent Francisco Hiebert isn&rsquo;t surprised that three-bedroom units are so popular these days. He says many people who temporarily left Toronto during the pandemic are slowly finding their way back.&ldquo;Many workplaces will be doing a hybrid of remote work, plus a few days in the office. So now that people know what their jobs will look like post-pandemic, a lot of them are returning to the city to avoid long commutes.&rdquo;Hiebert also believes that as COVID-19 cases continue to drop and Toronto opens up, we&rsquo;ll see an even larger demand for three-bedroom units in the months ahead.<h2>Three bedrooms or bust: Competition sizzles for larger units</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/113/narciso_arellano_ceRjYONcaBA-800-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/113/narciso_arellano_ceRjYONcaBA-800.jpg"/><img src="https://strata.ca/slate-image/article-images/113/narciso_arellano_ceRjYONcaBA-800.jpg" alt="Downtown Toronto Condos "/></picture>Back in March, homebuyers were paying 8.4% over the asking price for three-bedroom units. But that sale-to-list price ratio took a tumble, falling to 4.5% in May. This month, that number is holding steady with buyers paying about 4.4% above asking.Meanwhile, inventory levels continue to trend downward since peaking in April. And that may put added pressure on the supply of three-bedroom units, further inflaming competition. But Osman Omaid, a real estate agent at Strata.ca, says it&rsquo;s not just buyers who will be feeling the heat.&quot;When it comes to these rare three-bedroom units, renters also want in. With universities and colleges potentially gearing up for in-person learning, there are tons of students competing for these larger units, too.&rdquo;<h2>&lsquo;The next best thing...&rsquo;</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/113/toronto_city_skyline-800-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/113/toronto_city_skyline-800.jpg"/><img src="https://strata.ca/slate-image/article-images/113/toronto_city_skyline-800.jpg" alt="Toronto City Skyline"/></picture>Throughout the COVID-19 pandemic, we&rsquo;ve often witnessed a &lsquo;tale of two cities&rsquo; when it comes to Toronto and its surrounding regions. But trend lines show that when it comes to three-bedroom units, there&rsquo;s a mirroring of sorts taking place.In the GTA, the average sold price for these units is currently $775,500 &mdash; up 11% since the March average of $695,600. The cost PSF has also risen with it, indicating that competition isn&rsquo;t just confined to the City of Toronto.Strata.ca realtor Sam Massoudi believes the battle for three-bedroom units is being fuelled by the exorbitant cost to purchase a single-family home.&quot;Since freeholds remain at the heart of a very competitive market, a lot of people who need the three bedrooms are priced out,&rdquo; he explains.Left with few alternatives, Massoudi believes homebuyers have no choice but to consider a three-bedroom condo instead.&ldquo;All that space can be used for a family with two children...or a family with one child, plus a home office. Aside from freehold houses, this really is the next best thing.&quot;For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Three-Bedroom Condos Surge in Value by Over $200K as House-Seekers Look for "Next Best Thing"

Despite a month-to-month <a href="https://strata.ca/blog/gta-condo-sales-drop-for-2nd-straight-month-with-biggest-declines-in-downtown-core" target="_blank">cooldown</a> in GTA real estate, the average price of a Toronto condo has been holding steady the past 30 days at $740,000. But it&rsquo;s still possible to find properties well below the average in certain pockets of the city.Due to decreased competition since April, some neighbourhoods are now reporting lower condo prices. And the best part? They&rsquo;re located in areas that homebuyers have typically assumed to be out of reach. So check out the top three unexpected neighbourhoods that offer unbeatable value...and the properties you can buy there!<h2>Cabbagetown</h2>Average Price: $698,000<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/112/00_Cabbage_town_toronto_on-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/112/00_Cabbage_town_toronto_on.jpeg"/><img src="https://strata.ca/slate-image/article-images/112/00_Cabbage_town_toronto_on.jpeg" alt="Cabbage town Toronto neighbourhood"/></picture>This is one of the last areas downtown where you can buy a condo well below the Toronto average. Because the gentrification of Cabbagetown began in the 70s, the community is well-established and offers all the benefits of living in a centrally located area. Although the community is famous for its semi-detached Victorian homes, there are still a number of condos available here. And according to Strata.ca realtor Osman Omaid, Cabbagetown offers the best of both worlds.&ldquo;Living here is all about getting that urban experience without being surrounded by glass highrises and office towers. Not only is Cabbagetown good for young families, it&rsquo;s also the ideal location for working professionals who want easy access to both east and west ends of the city.&rdquo;Priced at about $920 per square foot (PSF), the neighbourhood features a number of older buildings and townhomes. Because many of these properties were built years ago, layouts tend to be more spacious. At the popular <a href="https://strata.ca/toronto/lesprit-residences-60-homewood-ave-5-15-maitland-pl" target="_blank">L&rsquo;Esprit Residences</a>, for example, units can range up to 1,400 sqft. But if Cabbagetown&rsquo;s excellent value isn&rsquo;t enough to sway you, it&rsquo;s location might. The streetcar service can easily connect you to the Bloor subway line, and even west past the Humber.<a href="https://strata.ca/toronto/the-star-of-downtown-225-wellesley-st-e/unit-704-c5271569" target="_blank">225 Wellesley St E, Unit 704</a> | 1 bed, 1 bath | Asking price: $499,000<a href="https://strata.ca/toronto/lesprit-residences-60-homewood-ave-5-15-maitland-pl/unit-438-c5275803" target="_blank">60 Homewood Ave, Unit 438</a> | 1+1 beds, 1 bath | Asking price: $499,000<a href="https://strata.ca/toronto/lesprit-residences-60-homewood-ave-5-15-maitland-pl/unit-1507-c5281091" target="_blank">15 Maitland Pl, Unit 1507</a> | 1+1 beds, 1 bath | Asking price: $649,900<h2>Bayview Village</h2>Average Price: $642,200<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/112/00_Bayview_Village_Shopping_Centre--600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/112/00_Bayview_Village_Shopping_Centre-.jpeg"/><img src="https://strata.ca/slate-image/article-images/112/00_Bayview_Village_Shopping_Centre-.jpeg" alt="Bayview shopping centre"/></picture>One of Toronto&rsquo;s most affluent neighbourhoods, Bayview Village is often overlooked by the average homebuyer. But Strata.ca data shows that in the past 30 days, condos here have been selling well below average.&ldquo;This past month, we&rsquo;re seeing condos in Bayview Village selling about 13% under the Toronto average as competition cools over the summer months. With a bit of patience, you can find 2 bedrooms listed under $700,000,&rdquo; says Anna Afkari, real estate agent at Strata.ca.Affordable condominiums are surrounded by ranch bungalows, split-level properties, and Georgian Revival-style homes. Residents are anchored by some prominent landmarks, which include Bayview Village Shopping Centre and the North York YMCA. But despite the family-oriented amenities, Bayview Village is still suitable for younger professionals looking to escape the downtown hustle; while its trendy restaurants and upscale shopping offer access to a higher quality of life.<a href="https://strata.ca/toronto/ny-towers-the-waldorf-2-rean-dr-8-rean-dr/unit-501-c5258155" target="_blank">8 Rean Dr, Unit 501</a> | 2 beds, 2 bath | Asking price: $639,000<a href="https://strata.ca/toronto/opus-and-omega-on-the-park-condos-117-mcmahon-dr-115-mcmahon-dr-113-mcmahon-dr/unit-207-c5242227" target="_blank">117 McMahon Dr, Unit 207</a> | 1+1 beds, 1 bath | Asking price: $649,900<a href="https://strata.ca/toronto/ny-towers-the-chrysler-1-rean-dr-3-rean-dr/unit-508-c5224594" target="_blank">1 Rean Dr, Unit 508</a> | 2 beds, 2 bath | Asking price: $699,000<h2>Leaside-Thorncliffe</h2>Average Price: $684,000<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/112/00_Thorncliffe_park_at_Leaside-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/112/00_Thorncliffe_park_at_Leaside.jpeg"/><img src="https://strata.ca/slate-image/article-images/112/00_Thorncliffe_park_at_Leaside.jpeg" alt="Leaside Thorncliffe neighbourhood in toronto"/></picture>If all goes as planned, the new <a href="https://strata.ca/blog/condo-values-explode-along-eglinton-crosstown-lrt-by-up-to-135" target="_blank">Eglinton Crosstown LRT</a> is set to roll through Leaside within the next year. And that&rsquo;s why Strata.ca broker Cliff Liu says now is the time to invest in East York&rsquo;s most popular neighbourhood, since prices will start picking up as the LRT nears completion.&ldquo;The Eglinton Crosstown will have three stations in Leaside, making it more accessible to the Yonge subway line. So it's worth considering this area while prices still remain below the Toronto average.&rdquo;Liu also notes that last month, properties here sold for about 0.27% below the list price.&ldquo;And that&rsquo;s encouraging for people who were priced out of the market in April when condos were going for 3% above asking.&rdquo;Surrounded by greenspace and excellent schools, Leaside-Thorncliffe is attractive for both young families and working professionals alike. Big box stores and trendy dining options exist off Eglinton between Brentcliffe and Laird.Eglinton Avenue also serves as a convenient throughway, connecting residents to major arteries. For example, you can head east to Don Mills and get downtown or to North York by connecting to the DVP. You can also make your way through Midtown by simply heading west towards Yonge.<a href="https://strata.ca/toronto/jockey-club-21-overlea-blvd/unit-1401-c5279890" target="_blank">21 Overlea Blvd, Unit 1401</a> | 2 beds, 1 bath | Asking price: $529,000<a href="https://strata.ca/toronto/leaside-park-11-thorncliffe-park-drive/unit-507-c5200637" target="_blank">11 Thorncliffe Park Dr, Unit 507</a> | 2 beds, 2 bath | Asking price: $575,000<a href="https://strata.ca/toronto/the-randolph-356-mcrae-dr/unit-207-c5262432" target="_blank">365 Mcrae Dr, Unit 207</a> | 2 beds, 2 bath | Asking price: $749,000For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

These Unexpected Neighbourhoods Still Have Below Average Condo Prices

<h3>May&rsquo;s decreased activity indicative of buyers who already purchased to avoid new mortgage stress test</h3>The pressure was on for GTA homebuyers to secure financing ahead of this week&rsquo;s highly-anticipated change to Canada&rsquo;s mortgage &lsquo;stress test&rsquo;. But the latest sales data for May shows yet another dip in condo transactions for a second straight month as the explosion of demand unleashed in March continued to fizzle out.The Greater Toronto Area saw 3,368 transactions last month. May sales had more than doubled when compared to the same time last year. But transactions had decreased by 23% when compared to the market&rsquo;s record-breaking peak in March.Despite lower sales numbers, property values managed to hold their ground. The average selling price of a Toronto-area condo was $676,000, virtually unchanged from the month prior. Homebuyers paid about $782 per square foot (PSF), following the start of a <a href="https://strata.ca/blog/toronto-condo-sales-down-in-april-prices-plateau-amid-buyer-fatigue">cooling market</a> in April. Inventory levels, meanwhile, saw a moderate decrease with 5,935 condos hitting the market; an 8% drop from the previous month.<h2>Downtown Toronto takes its deepest plunge in May</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/110/jane-palash-Pj-7WtOi0ig_unsplash-800-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/110/jane-palash-Pj-7WtOi0ig_unsplash-800.jpg"/><img src="https://strata.ca/slate-image/article-images/110/jane-palash-Pj-7WtOi0ig_unsplash-800.jpg" alt="Gloomy rainy day in Toronto Streets"/></picture>Perhaps the most notable declines were in the downtown core, which recorded its biggest drop in market activity in the last 12 months. In May, condo sales were down by 19%. Certainly a far cry from the 62% nosedive seen in April last year, immediately following Ontario&rsquo;s state of emergency declared on March 17, 2020. Still though, this most recent drop in sales transactions solidifies the continuation of a downward trend after the market&rsquo;s long-awaited plateau in April.Homebuyers who managed to secure a downtown condo in May paid about $1,066 PSF, down from the April peak of $1,091 PSF. However, despite the new downward trend, downtown prices still remain about $285 above the GTA average.<h2>Incoming stress test &lsquo;lit a fire&rsquo; under people to buy something...anything</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/110/daniel-novykov-TLoGZA0w-qw-unsplash-800-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/110/daniel-novykov-TLoGZA0w-qw-unsplash-800.jpg"/><img src="https://strata.ca/slate-image/article-images/110/daniel-novykov-TLoGZA0w-qw-unsplash-800.jpg" alt="Leaving Toronto"/></picture>First launched in 2017 to cool an overheated market, the notorious stress test is a minimum threshold that potential homebuyers must meet. It ensures that anyone getting a mortgage will be able to pay it off if historically-low interest rates were to go up. And as of June 1st, the federal government raised that minimum qualification bar yet again.This expected change unleashed a flurry of sideline buyers, especially in April when the headlines took a bit of a turn, says Robert Van Rhijn, Broker of Record at Strata.ca. According to Van Rhijn, these are buyers who were initially waiting around to see where property values were headed.&ldquo;All of those people afraid of the mortgage changes coming June 1st...they decided it&rsquo;s now or never. So it really lit a fire under them to get off the sidelines and just buy something, anything, while they still had greater purchasing power.&rdquo;Van Rhijn believes a lot of those eager buyers had already entered the market by the time May rolled around. He says last month&rsquo;s decreased sales activity also indicates the &lsquo;burn out&rsquo; that typically happens after the traditional spring rush.&ldquo;Put those two things together and of course we&rsquo;re going to see a notable dip in condo sales.&rdquo;<h2>&lsquo;Sellers will just have to accept a lower price&rsquo;</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/110/pexels-pavel-danilyuk-800-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/110/pexels-pavel-danilyuk-800.jpg"/><img src="https://strata.ca/slate-image/article-images/110/pexels-pavel-danilyuk-800.jpg" alt="For Sale "/></picture>TRREB has noted that month-over-month decreases signal the GTA may be <a href="https://trreb.ca/files/market-stats/market-watch/mw2104.pdf" target="_blank">exhausting its pool</a> of potential buyers within the existing population.But Cliff Liu, a broker at <a href="https://strata.ca" target="_blank">Strata.ca</a>, disagrees. He says May just goes to show that many people are still waiting things out. They&rsquo;re also considering properties that have a lower barrier to entry.&ldquo;I know offhand a lot of buyers who are now getting serious about pre-construction and assignments even. For these types of transactions, they just need a large enough deposit upfront. They don&rsquo;t need to worry about getting some huge loan from the banks, especially under these new mortgage rules,&rdquo; he said.Even though stress test changes make the path to homeownership a bit harder, it may be sellers who bear the brunt of it all.&ldquo;We&rsquo;re going to see properties sit on the market for a while longer heading into the summer. And sellers in a rush to liquidate their assets will just have to accept a lower price,&rdquo; adds Liu.There are many investors who are &lsquo;squatting on a pile of cash&rsquo; as Liu puts it. He says they&rsquo;re just waiting for a distress sale, which occurs when a property must be sold off quickly.&ldquo;It really comes down to a game of patience to see who...sellers versus buyers...can hold out longer.&rdquo;Whether you&rsquo;re a seasoned real estate investor or first-time purchaser, Van Rhijn says many people believe, erroneously, that they won&rsquo;t qualify to buy under these new mortgage rules. But in reality, it&rsquo;s only about 5% of active buyers who have now been forced out of the market.&ldquo;For the remaining 95%, it just means their buying power is modestly diminished. So they&rsquo;ll just have to settle for something a little smaller or not in their most ideal neighbourhood.&rdquo;For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

GTA Condo Sales Drop for 2nd Straight Month with Biggest Declines in Downtown Core 

<h2>Lack of development in &lsquo;less affluent&rsquo; areas leading to price surge in unexpected neighbourhoods.</h2>Stretching 19 kilometres across Toronto&rsquo;s mid-section, commuters have been eagerly awaiting the official opening of the Eglinton Crosstown. The light rail transit system, also known as Line 5, will take passengers along Eglinton Avenue from the new Mount Dennis station at Weston Road all the way to Kennedy station in Scarborough. But despite its delayed opening of Fall 2022 &mdash; property values along some portions have skyrocketed in just the past five years by as much as 135%.To put that into context, Toronto&rsquo;s overall condo market in the past five years has appreciated just 72%..<h2>Appreciation rates intensify at furthest ends of transit line</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/108/1280px-TTC_system_map_2023_upd.svg-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/108/1280px-TTC_system_map_2023_upd.svg.png"/><img src="https://strata.ca/slate-image/article-images/108/1280px-TTC_system_map_2023_upd.svg.png" alt="TTC LRT map of new lines "/></picture><a href="https://strata.ca" target="_blank">Strata.ca</a> analyzed condo sales along the Eglinton Crosstown going back to 2011. That&rsquo;s when the first phase of construction began. To get the most accurate picture, we calculated the average cost per-square-foot (PSF) for all condominiums within a 900-metre radius around all 25 stops.Condos clustered around those stations furthest east and west have seen the highest appreciation rates. And trend lines show property values began their steep ascent about five years ago. The average cost PSF around Scarborough&rsquo;s Kennedy station, furthest east on the line, was $212 in 2016. Currently in 2021, it&rsquo;s sitting at $500; a stunning increase of 135%. Around Ionview station, one stop over, condo values have skyrocketed in the same time period by 134%.On the westerly portion of Line 5, properties surrounding Mount Dennis station have seen an increase of 67% since 2016. But head one stop east to Keelesdale, and nearby condo prices have risen 103%.<h2>Eglinton Crosstown will &lsquo;breathe new life&rsquo; into overlooked pockets</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/108/Eglinton_LRT-min-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/108/Eglinton_LRT-min.jpeg"/><img src="https://strata.ca/slate-image/article-images/108/Eglinton_LRT-min.jpeg" alt="LRT under construction on Eglinton"/></picture>Larry Medina is a realtor at Strata.ca. He&rsquo;s been advising clients to consider neighbourhoods along the Eglinton Crosstown, partly because he took that advice himself. In January 2020, Medina and his partner purchased a home just south of Eglinton to take advantage of the new Line 5.&ldquo;We strategically bought near Caledonia station because we knew it would be a good long-term investment, and we were right. Prices have been increasing steadily there ever since,&rdquo; he says.Caledonia is where the new LRT system and the GO Barrie line will intersect. Although Medina bought a detached home, he notes condo values have also seen a significant jump.&ldquo;As we get closer to opening day, real estate prices are starting to pick up even more around here. I mean, in our neighbourhood...we went from $522 per square foot to nearly $640 in just 12 months,&rdquo; says Medina.Ask Cliff Liu, a broker at Strata.ca, who he believes will benefit the most. Liu says of course it&rsquo;s those who own property along Line 5, but in less affluent neighbourhoods.&ldquo;If you own in an area that has yet to be gentrified, you&rsquo;re definitely at an advantage. It may take several years, but the Eglinton Crosstown will breathe new life into these traditionally overlooked pockets,&rdquo; explains Liu.<h2>New condos clustered around flagship station; none further out</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/108/christophe-dion-GDsNTnhSz-g-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/108/christophe-dion-GDsNTnhSz-g-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/108/christophe-dion-GDsNTnhSz-g-unsplash.jpg" alt="Toronto Skyline under construction"/></picture>But despite all the opportunities a new transit line can bring, it appears developers have focused mainly on Line 5&rsquo;s most central stations. Since 2011, a total of 44 condos have gone up within a 900-metre radius of all 25 stops. But of those, more than half were concentrated around just two stations:<ul><li>Yonge-Eglinton: 16 new condos</li><li>Mount Pleasant: 13 new condos</li></ul>In the past five years, property values near both of the above stations have risen 63%; quite modest compared to the appreciation rates seen elsewhere along the system.Head further east or west along Line 5, and it&rsquo;s a different story. For example, within a 900-metre radius of Kennedy, Ionview and Birchmount stations, no new developments have been built so far. On the opposite end are Mount Dennis, Keelesdale, and Caledonia stations, which have seen just three new condos go up in the past 10 years.Robert Van Rhijn, Broker of Record at Strata.ca, says this would partly explain why property values among <a href="https://strata.ca/toronto/scarborough" target="_blank">Scarborough</a> and <a href="https://strata.ca/toronto/york-crosstown" target="_blank">York Crosstown</a> condos have increased over 100%.&ldquo;Many homebuyers want to live near this new transit line, and being further from Yonge is no problem if you can now get to the core quite easily. But the housing supply hasn&rsquo;t been able to keep up with this new demand, and the data certainly illustrates that,&rdquo; explains Van Rhijn.Despite the rising real estate prices that often come with better transit, Liu notes that homeowners in more prestigious areas aren&rsquo;t as excited about the new Eglinton Crosstown.&ldquo;I&rsquo;ve spoken to clients in Leaside, for example, and some of them aren&rsquo;t thrilled about having an LRT run through their neighbourhood. It makes their community more accessible to the masses, and they worry this may actually bring their property values down,&rdquo; says Liu.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Condo Values Explode Along Eglinton Crosstown LRT by Up to 135%

As the old saying goes, bigger isn&rsquo;t always better. But, ask homeowners how they feel. And most will tell you that size does matter. So when it comes to condominiums, it&rsquo;s no surprise that most people are looking for units that look and feel spacious. The thing is, those larger units often come at a cost. And if you&rsquo;re on a tight budget, there are some luxuries you may have to ditch in order to land that bigger property. Those luxuries may include being close to public transit, or being able to walk to your favourite shops and restaurants. That&rsquo;s because the most spacious condos are simply not available in Toronto&rsquo;s core areas. But rather, in up and coming neighbourhoods in North York, Scarborough and Etobicoke.Strata.ca has released its list of the top condos that offer the biggest layouts for the best price. We aggregated cost-per-square foot (PSF) data to isolate properties that give you the most value dollar-for-dollar, strictly based on size. And since there are hundreds of condominiums in Toronto, we narrowed down the list further by examining only those that include layouts over 1,200 square feet.So if space is your top priority, here are the condos that provide the kind of value you can literally measure!<h2>#1) Tam O&rsquo;Shanter Casitas </h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-2000.jpeg" alt="Tam OShanter Casitas at 188 Bonis Ave"/></picture><h3>Scarborough</h3><h4>Average cost: $294 PSF</h4><h4>$261 less expensive than neighbourhood average</h4>Located in the high-demand area of Kennedy &amp; Sheppard in north Scarborough, this condo takes top spot when it comes to maximizing your budget. Homebuyers love that properties here can range up to 2,400 square feet. Many of these units offer 4 bedrooms and 3 baths, which is a rarity in today&rsquo;s condominiums.But Cliff Liu, a broker at <a href="https://strata.ca" target="_blank">Strata.ca</a>, notes that space-conscious buyers must keep an eye on maintenance fees.&ldquo;Maintenance fees are usually proportionate to condo size. So the bigger your unit, the more you&rsquo;ll likely have to pay. So it&rsquo;s about finding the right balance between monthly affordability and a space that&rsquo;s large enough to fulfil your needs,&rdquo; says Liu.Scarborough&rsquo;s average cost-per-square foot is currently $585. But at the <a href="https://strata.ca/toronto/tam-oshanter-casitas-188-bonis-ave" target="_blank">Tam O&rsquo;Shanter Casitas</a>, our data shows that over the past 3 months, homebuyers have been able to purchase here for $294 PSF. With that kind of value, it&rsquo;s no wonder these townhomes are in such high demand.<h2>#2) 10 Eddystone Avenue Condos</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/01_10_Eddystone_Ave_Unit_148-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/01_10_Eddystone_Ave_Unit_148.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/01_10_Eddystone_Ave_Unit_148.jpeg" alt="10 Eddystone Ave"/></picture><h3>North York</h3><h4>Average cost: $295 PSF</h4><h4>$82 less expensive than neighbourhood average</h4>Toronto&rsquo;s Jane and Finch neighbourhood offers incredible value, but <a href="https://strata.ca/toronto/10-eddystone-avenue-condos-10-eddystone-ave" target="_blank">10 Eddystone</a> continues to stand out from the rest. The most popular layouts feature up to 1,800 square feet of living space, spread out among 3 to 4 bedrooms.<a href="https://strata.ca" target="_blank">Strata.ca</a> realtor, Cyrus Ghazvini, says some of his clients are looking for bigger units because they offer more options for renovation.&ldquo;More square footage means a bigger area to work with. Many homebuyers want that kind of canvas, since it allows them to more easily reconfigure the space. And that&rsquo;s especially important for those wanting to maximize resale value,&rdquo; explains Ghazvini.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_10_Eddystone_ave_unit_225-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_10_Eddystone_ave_unit_225.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_10_Eddystone_ave_unit_225.jpeg" alt="10 Eddystone Ave Unit 225"/></picture><a href="https://strata.ca/toronto/10-eddystone-avenue-condos-10-eddystone-ave/unit-225-w5164481" target="_blank">10 Eddystone Ave, Unit 225</a><ul><li>Asking price: $350,000</li><li>3 beds, 2 bath</li><li>Size: 1,046 sqft</li></ul>Appreciation rates at this complex are up 21% in the past 12 months. And much of that can likely be attributed to its low cost-per-square-foot. But because the amenities here are slim &mdash; you&rsquo;re sacrificing that pool and gym, so you can have the room to &lsquo;sprawl out&rsquo; instead!<h2>#3) 315 Dixon Road Condos</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_315 Dixon Road Condos_315 Dixon Rd-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_315 Dixon Road Condos_315 Dixon Rd-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_315 Dixon Road Condos_315 Dixon Rd-2000.jpeg" alt="315 Dixon Road Condos"/></picture><h3>Etobicoke</h3><h4>Average cost: $301 PSF</h4><h4>$204 less expensive than neighbourhood average</h4>Built in 1977, this building isn&rsquo;t much to look at. But our data shows demand here is extremely high, and it&rsquo;s not difficult to see why. Buyers strictly concerned about space are particularly fascinated by what <a href="https://strata.ca/toronto/315-dixon-road-condos-315-dixon-rd" target="_blank">this condo</a> offers.Units range from 1,350 to 1,600 square feet. On average, each owner tends to hold on for about 19 years. And with just 22 properties in the whole building, it may be difficult to purchase here. But when they do pop up, act quickly because units tend to sell within 14 days.<h2>#4) Weston Gate</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_2130WestonRoad_Weston_Gate_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_2130WestonRoad_Weston_Gate_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_2130WestonRoad_Weston_Gate_Exterior-2000.jpeg" alt="2130 Weston Road, Exertior"/></picture><h3>York Crosstown</h3><h4> Average cost: $323 PSF</h4><h4>$213 less expensive than neighbourhood average</h4>This yellow-brick condo is a far cry from the shiny glass towers popping up all over Toronto. But if a spacious unit by the scenic Humber is your idea of the good life, then <a href="https://strata.ca/toronto/weston-gate-2130-weston-rd" target="_blank">Weston Gate</a> is definitely worth a look.Built in the late 70s, this building borders on that familiar retro vibe. You can find units here as big as 1,500 square feet. And the most popular layouts feature 3 well-sized bedrooms, perfect for any family. The building also backs onto Cruickshank Park, which sits along the eastern shores of the Humber River.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_2130_Weston_Road_Unit_904-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_2130_Weston_Road_Unit_904.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_2130_Weston_Road_Unit_904.jpeg" alt="2130 Weston Road, Unit 904"/></picture><a href="https://strata.ca/toronto/weston-gate-2130-weston-rd/unit-904-w5221953" target="_blank">2130 Weston Road, Unit 904</a><ul><li>Asking price: $429,000</li><li>2 beds, 1 bath</li><li>Size: 1,199 sq ft</li></ul><h2>#5) 665 Kennedy Road Condos</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/01_665_Kennedy_road_Exterior-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/01_665_Kennedy_road_Exterior.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/01_665_Kennedy_road_Exterior.jpeg" alt="665 Kennedy Road Exterior"/></picture><h3>Scarborough</h3><h4>Average cost: $325 PSF</h4><h4>$214 less expensive than neighbourhood average</h4>Located on Kennedy, just south of Eglinton, this <a href="https://strata.ca/toronto/665-kennedy-road-condos-665-kennedy-rd" target="_blank">intimate low-rise</a> is a short walk to the new Eglinton Crosstown LRT. First-time homebuyers and young families are particularly drawn to its sizeable units, all of them featuring 3 bedrooms. Some properties even cover two storeys, offering separation between living and sleeping areas. Each unit has 2 bathrooms, ensuite laundry, and a large balcony.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_665_Kennedy_Road_Unit_510-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_665_Kennedy_Road_Unit_510.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_665_Kennedy_Road_Unit_510.jpeg" alt="665 Kennedy Road Unit 510"/></picture><a href="https://strata.ca/toronto/665-kennedy-road-condos-665-kennedy-rd/unit-510-e5161874" target="_blank">665 Kennedy Rd, Unit 510</a><ul><li>Asking price: $419,000</li><li>Size: 1,200 sq ft</li><li>3 beds, 2 baths</li></ul>Liu has noticed many of his clients are downtown homebuyers looking to sacrifice urban amenities for more living space.&ldquo;I have more and more families, even young people, telling me they can &lsquo;no longer breathe&rsquo; in these 600 square-foot units downtown. That&rsquo;s why they&rsquo;re more open now to sacrificing on a few luxuries. They want to feel as if they&rsquo;re living in a house, as opposed to a tiny apartment,&rdquo; says Liu.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Top 5 Condos in Toronto with the Biggest Layouts for the Best Price

Months of soaring real estate prices, bidding wars and tighter pandemic restrictions finally took a swipe at Toronto condo sales in April. Condo transactions fell for the first time, since a red-hot ascent that began in December. An ascent fuelled no doubt by constant talk of a &lsquo;bubble&rsquo; that was about ready to burst.In April, there were a total of 2,477 condo sales transactions; down 17% from March&rsquo;s peak of 2,978. Inventory levels, meanwhile, remained relatively stable with 2,618 units on the market; just a 6% increase from the month prior.<h2>Prices plateau after hot upward climb; no bursting &lsquo;bubble&rsquo;</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/106/35_mariner_unit2112-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/106/35_mariner_unit2112.jpg"/><img src="https://strata.ca/slate-image/article-images/106/35_mariner_unit2112.jpg" alt="35 Mariner Unit 2112 Living room"/></picture>Potential homebuyers hoping to enter the housing market saw some relief in April as prices levelled off. The average price-per-square foot for a Toronto condo was $882, just a $3 dollar decline from the previous month.Despite the traditionally-slow winter market -- real estate prices began their steep ascent in December, fuelling speculation that property values were being propped up by artificial demand. But <a href="https://strata.ca">Strata.ca</a> realtor, Francisco Hiebert, believes this recent plateau is a sign of the market cooling off. And the dramatic burst that many had been anticipating? He says it just isn&rsquo;t going to happen.&ldquo;That sudden rise in demand over the winter had solidified people&rsquo;s beliefs that we&rsquo;re in a bubble...a bubble that was eventually going to burst. But I don&rsquo;t think we&rsquo;re going to see values plummet like that. If you look at the numbers, prices per-square-foot are still lower than what they were right before the first COVID-19 lockdown,&rdquo; explains Hiebert.<h2>Market cooling because &lsquo;some people are giving up&rsquo;</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/106/pexels-burst-37487-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/106/pexels-burst-37487.jpg"/><img src="https://strata.ca/slate-image/article-images/106/pexels-burst-37487.jpg" alt="Toronto Skyline"/></picture>Bubble or no bubble -- Cliff Liu, a broker at <a href="https://strata.ca">Strata.ca</a>, believes the red-hot condo market is cooling on its own.&ldquo;The market seems to be correcting itself without the government getting too involved. This is because buyers were trying to get in as prices climbed over the winter. That whole time though, all we heard about were bidding wars and condos selling for $100K over asking,&rdquo; says Liu.And according to him, that&rsquo;s when people scampered away and buyer fatigue set in. Liu believes this is why we saw the condo market cool in April. He expects this pattern to continue for another couple of months.&ldquo;I had some listings for sale, and we did see some action. But it was way below our expectations. My seller clients are hoping the market will pick up again once this lockdown lifts. But my buyers are hoping prices will plummet after April&rsquo;s plateau,&rdquo; says Liu.<a href="https://strata.ca">Strata.ca</a> realtor, Sam Massoudi, also believes buyer fatigue is the reason behind April&rsquo;s falling numbers. He says some abandoned their search as the market soared, thinking they were priced out for good.&ldquo;If you were looking for a 1-bedroom at $550K last year, that same unit is now closer to $600K. Some people are giving up altogether because it&rsquo;s not easy to come up with an extra $50,000 that quickly,&rdquo; explains Massoudi.He suspects many would-be buyers decided to take advantage of the rental market, which has dropped by more than 10% in the past 12 months.Still though, <a href="https://strata.ca">Strata.ca</a> agent Milan Mitrovic blames April&rsquo;s lower sales numbers on the latest pandemic lockdown. When it comes to seeing condos in person, his clients&rsquo; biggest fear is exposing other family members to COVID-19.&ldquo;That&rsquo;s why some of them have avoided all contact with older relatives, so they can continue their property search. I&rsquo;d say it&rsquo;s not so much buyer fatigue that&rsquo;s holding them back. It&rsquo;s more like pandemic fatigue at this point,&rdquo; says Mitrovic.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Toronto Condo Sales Down in April, Prices Plateau Amid Buyer Fatigue

There are tons of properties that have sold for ridiculously large amounts of money during the COVID-19 pandemic. But while most people look at the final sale price to gauge a home&rsquo;s worth, that number isn&rsquo;t always a true representation of actual market value.That&rsquo;s why we&rsquo;ve picked through <a href="https://strata.ca">Strata.ca</a> data to isolate the most expensive condos that have sold in Toronto, strictly based on price-per-square foot (PSF).<h2>Why price-per-square foot?</h2>This measurement is a more accurate way to gauge the true value of a property. That&rsquo;s why there are instances when an $800,000 condo is considered of higher value than one that sells for, say, $1M.In Toronto right now, the average cost-per-square foot is $886. Quite low in comparison to these condos that sold for much higher.<a href="https://strata.ca/toronto/hill-and-dale-residences-1027-yonge-st-1-3-roxborough-st-e/unit-ph-2-c5134861">1 Roxborough St East, PH 12</a><ul><li>Sold for: $2,900/sqft</li><li>Date: April 16, 2021</li><li>Sale price: $11,600,000</li></ul><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 1-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 1.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Roxborough 1.jpeg" alt="1 Roxborough St East, PH 12"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 4-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 4.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Roxborough 4.jpeg" alt="1 Roxborough St East, PH 12"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 2-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 2.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Roxborough 2.jpeg" alt="1 Roxborough St East, PH 12"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 3-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 3.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Roxborough 3.jpeg" alt="1 Roxborough St East, PH 12"/></picture>Photos via Michael Peart | Instagram/@michael_a_peartSummerhill meets Rosedale in this luxurious penthouse suite, inside the prestigious <a href="https://strata.ca/toronto/hill-and-dale-residences-1027-yonge-st-1-3-roxborough-st-e">Hill and Dale Residences</a>. This unit not only sold for the highest cost PSF during the pandemic; but our data shows it is also the most expensive condo to sell in Toronto, ever.12-foot ceilings, panoramic views of the city, plus 3 private terraces are tough to beat. Couple that with 4,000 square feet of living space...and you can see why this place got snatched up (by a very rich buyer!) in less than 2 months.<a href="https://strata.ca/toronto/four-seasons-private-residences-50-yorkville-ave-55-scollard-st/unit-4001-c5106008">50 Yorkville Ave, Unit 4001</a><ul><li>Sold for: $2,563/sqft</li><li>Date: February 21, 2021</li><li>Sale price: $7,365,000</li></ul><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 1-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 1.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Yorkville 1.jpeg" alt="50 Yorkville Ave, Unit 4001"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 2-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 2.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Yorkville 2.jpeg" alt="50 Yorkville Ave, Unit 4001"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 3-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 3.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Yorkville 3.jpeg" alt="50 Yorkville Ave, Unit 4001"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 4-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 4.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Yorkville 4.jpeg" alt="50 Yorkville Ave, Unit 4001"/></picture>If you want to live at one of Toronto&rsquo;s most exclusive addresses, on the 40th floor, with your own private elevator -- be prepared to pay for it! This unit at the <a href="https://strata.ca/toronto/four-seasons-private-residences-50-yorkville-ave-55-scollard-st">Four Seasons Private Residences</a> in Yorkville sold for a little over $2,500 PSF.Floor-to-ceiling windows offer 365-degree views of the city with tons of natural light filling every room. A custom-designed kitchen with luxury appliances are also a must for a property of this stature. If this unit was a bit too pricey for you, there are &lsquo;cheaper&rsquo; ones on sale at the Four Seasons. Like this one, for example, at <a href="https://strata.ca/toronto/four-seasons-private-residences-50-yorkville-ave-55-scollard-st/unit-1802-c5183946">$1,805 per square foot</a>. That works out to roughly $2.68M.<a href="https://strata.ca/toronto/pears-on-the-avenue-condos-127-135-pears-ave-170-avenue-rd/unit-ph-2-c4915510">170 Avenue Rd, PH2</a><ul><li>Sold for: $2,297/sqft</li><li>Date: September 20, 2020</li><li>Sale price: $7,000,000</li></ul><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 1-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 1.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Avenue Rd 1.jpeg" alt="170 Avenue Rd, PH2"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 2-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 2.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Avenue Rd 2.jpeg" alt="170 Avenue Rd, PH2"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 3-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 3.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Avenue Rd 3.jpeg" alt="170 Avenue Rd, PH2"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 5-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 5.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Avenue Rd 5.jpeg" alt="170 Avenue Rd, PH2"/></picture>Photos via Michael Peart | Instagram/@michael_a_peartThis show-stopping penthouse is nestled high in the sky with jaw-dropping views of the city, and even the lake! Priced at nearly $2,300 per square foot, you can bet this unique property came with all the extras.One of our favourite features is the open-concept kitchen, which overlooks a spacious dining area and living room. But once this pandemic is over, the owner will certainly want to entertain on that massive terrace outside. 1,400 square feet of outdoor living space features ample seating room, a dining area, and even a fireplace.So whether you&rsquo;re a first-time homebuyer or hunting for your next investment property, don&rsquo;t just look at the asking price. Instead, check out the average cost per square foot to assess a property&rsquo;s true value.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Top 3 Most Expensive Condos That Have Sold in Toronto During COVID-19, Based on Price-Per-Square Foot

After 12 months of declining property values in Toronto&rsquo;s downtown core, condominiums here are no longer in the red. Since Ontario declared its first state-of-emergency in March last year, properties lost an average of about 20% in value. But data so far for the month of April shows the downtown market is firmly back in the black at +3.5% year-over-year.After a year of decreased spending due to COVID-19 restrictions, demand is hot among potential homebuyers finally looking to make a move. In the past 30 days alone, downtown saw 775 condo transactions with an average sale price of $812,000.<h2>Baby boomers cashing out; mortgage anxiety kicking in</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/104/dillon-kydd-2keCPb73aQY-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/104/dillon-kydd-2keCPb73aQY-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/104/dillon-kydd-2keCPb73aQY-unsplash.jpg" alt="Home in Oshawa"/></picture>If you&rsquo;re wondering why downtown values are on the rise following a year of declines, the answer may lie in family decisions. Realtors note that Ontario&rsquo;s baby boomers are selling their (typically-larger) homes to help their kids break into the housing market.&ldquo;When seniors would sell in the past, it was strictly to downsize. But there&rsquo;s this trend where older homeowners are cashing out, so they can help their children with a downpayment,&rdquo; says Galina Sheveleva, a real estate agent at <a href="https://strata.ca">Strata.ca</a>.But despite that help from mom and dad, many adult children are worried how much mortgage they&rsquo;ll be allowed to take on. Cliff Liu, also a <a href="https://strata.ca">Strata.ca</a> realtor, attributes that anxiety to tougher lending rules coming in June.&ldquo;This new stress test is going to cripple a lot of people because it will be much harder to qualify for the mortgage they want. A lot of my clients are feeling the pressure to jump in before June because they think this might be their last chance at home ownership,&rdquo; says Liu.He&rsquo;s referring to a proposal from Canada&rsquo;s top banking regulator to raise the mortgage stress test level to either 5.25% or two percentage points above the market rate; whichever is higher. This means borrowers will have to prove they can afford a mortgage at that higher rate, no matter what the bank is willing to lend them. If the proposal is passed, these new rules will be in effect for uninsured loans as of June 1st.<h2>Unqualified buyers could reverse rental trends</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/104/01_125WesternBatteryRoad_The_Tower_At_King_West_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/104/01_125WesternBatteryRoad_The_Tower_At_King_West_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/104/01_125WesternBatteryRoad_The_Tower_At_King_West_Exterior-2000.jpeg" alt="125 Western Battery The Tower At King West"/></picture>Downtown&rsquo;s rental market remains down by -15% year-over-year. But come June, potential homebuyers forced to change course could reverse all that. Many of them will come to realize that the best time to buy was actually last November. That&rsquo;s when you could get a unit for about $690,000.&ldquo;Ongoing lockdowns forced many people to cancel their weddings and vacations, then redirect their savings to a down payment instead. If you&rsquo;re one of those people intent on buying this year, the most affordable neighbourhoods are Cabbagetown and Regent Park,&rdquo; says Osman Omaid, a real estate agent at <a href="https://strata.ca">Strata.ca</a>.The average price for a condo in those neighbourhoods is $643,000 and $672,000 respectively.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Toronto’s Downtown Condo Market Back in the Black, Thanks to Baby Boomers and Their Kids

With 30 residential towers packed into Toronto&rsquo;s CityPlace, it can be hard to differentiate the thousands of condo units located here. But there&rsquo;s one particular property that definitely stands out from the rest.Just listed this week by <a href="https://strata.ca">Strata.ca</a> real estate agent, Cliff Liu, this 2-bed/2-bath is located inside the <a href="https://strata.ca/toronto/harbour-view-estates-ii-condos-35-mariner-terr">Harbour View Estates</a>. Suite 2112 is an exquisite corner unit perched high in the clouds, and described by Liu as &lsquo;paradise in the sky&rsquo;. Floor-to-ceiling windows and beautiful southwest exposure offer stunning, panoramic views of the lake. Asking price? Just under $1M.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/01_35 Mariner_Unit2112_living_room-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/01_35 Mariner_Unit2112_living_room.jpg"/><img src="https://strata.ca/slate-image/article-images/103/01_35 Mariner_Unit2112_living_room.jpg" alt="35 Mariner, living room"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/02__35 Mariner_Unit2112_living_room_view-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/02__35 Mariner_Unit2112_living_room_view.jpg"/><img src="https://strata.ca/slate-image/article-images/103/02__35 Mariner_Unit2112_living_room_view.jpg" alt="35 Mariner, living room view"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/00_35 Mariner_Unit 2112_hero-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/00_35 Mariner_Unit 2112_hero.jpeg"/><img src="https://strata.ca/slate-image/article-images/103/00_35 Mariner_Unit 2112_hero.jpeg" alt="35 Mariner, balcony view"/></picture>As if that wasn&rsquo;t enough, 1,220 square feet of living space is more than plenty to escape from the vibrations of city life. This unit has one of the largest layouts in the building. Watch TV in the spacious living room. Or enjoy delicious meals in the separate dining area, which we all know is rare in many downtown condos.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/03__35 Mariner_Unit2112_living_room3-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/03__35 Mariner_Unit2112_living_room3.jpg"/><img src="https://strata.ca/slate-image/article-images/103/03__35 Mariner_Unit2112_living_room3.jpg" alt="35 Mariner, living and dining "/></picture>The sellers recently installed fresh hardwood floors and renovated both bathrooms. The kitchen also features a beautiful new countertop with sleek stainless steel appliances.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/04__35 Mariner_Unit2112_kitchen-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/04__35 Mariner_Unit2112_kitchen.jpg"/><img src="https://strata.ca/slate-image/article-images/103/04__35 Mariner_Unit2112_kitchen.jpg" alt="35 Mariner, newly renovated kitchen"/></picture>The two large bedrooms are perfect for a growing family, or singles in the city looking for a guest room.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/05__35 Mariner_Unit2112_bedroom1-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/05__35 Mariner_Unit2112_bedroom1.jpg"/><img src="https://strata.ca/slate-image/article-images/103/05__35 Mariner_Unit2112_bedroom1.jpg" alt="35 Mariner, bedroom one"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/06__35 Mariner_Unit2112_bedroom2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/06__35 Mariner_Unit2112_bedroom2.jpg"/><img src="https://strata.ca/slate-image/article-images/103/06__35 Mariner_Unit2112_bedroom2.jpg" alt="35 Mariner, bedroom two"/></picture>And the den is actually its own enclosed space, with more than enough room for a comfortable home office.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/07__35 Mariner_Unit2112_den_office-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/103/07__35 Mariner_Unit2112_den_office.jpg"/><img src="https://strata.ca/slate-image/article-images/103/07__35 Mariner_Unit2112_den_office.jpg" alt="35 Mariner, den/office space"/></picture>Standing proudly at 49 storeys tall, 35 Mariner Terrace is also something to be admired. Aside from the residents&rsquo; gym and sauna, building amenities also include a tennis court and indoor pool. But you probably won&rsquo;t venture out much anyways, given all the luxuries found in this high-end unit!

Not Your Average CityPlace Digs: Exquisite Condo Described as 'Paradise in the Sky'

In March, condo sales in the GTA beat out every month over the past two years. And sales numbers were nearly double what they were when the pandemic began a year ago, hitting a record-high of 4,165 transactions.The City of Toronto saw a little over 2,500 sales in March. Most were concentrated in the downtown core with 907 sales. This was followed by North York, Etobicoke and Scarborough at 559, 338, and 325 respectively. Mississauga, meanwhile, saw the most transactions of all the suburbs with a total of 519. The overall GTA condo market increased in value by 3%.<h2>Best time to buy was in November</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/101/toronto_skyline_cozy_winter-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/101/toronto_skyline_cozy_winter.jpg"/><img src="https://strata.ca/slate-image/article-images/101/toronto_skyline_cozy_winter.jpg" alt="Toronto November Winter looking at the skyline with a warm drink"/></picture>Throughout a series of COVID-19 lockdowns, GTA homebuyers had been hoping for a drop in real estate prices. But according to Robert Van Rhijn, Broker of Record at <a href="https://strata.ca">Strata.ca</a>, that highly-anticipated drop quickly came and went last Fall.&ldquo;We now know in hindsight that the best time to buy during this whole pandemic was in November. That&rsquo;s when the average price of a GTA condo fell to $610,000.&rdquo;Van Rhijn points out that the average condo selling price has increased by $80,000 since the market hit its lowest point.&ldquo;This price increase is almost certainly due to those buyers who were once sitting on the sidelines, waiting for the market to bottom out. Now they&rsquo;re realizing it may be awhile before prices dip again, so they&rsquo;re trying to purchase whatever they can,&rdquo; he adds.<h2>Condos consistently sold above-asking in March; surging demand continues until early Summer</h2>In March, GTA condo inventory was up 21% compared year-over-year. But the average condo sold for 5.5% above the asking price, indicating that buyer demand continues to eclipse the properties that are available.&ldquo;I suspect that demand will continue to far outpace supply until the early summer months. Come the end of the spring market, those pent-up buyers will likely have purchased by then,&rdquo; says Van Rhijn.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

GTA condo sales in March were highest they’ve been in 2 years; demand to outpace supply until early Summer

Oshawa is the hottest market to emerge from the COVID-19 pandemic. The ongoing narrative of the &lsquo;booming suburbs&rsquo; has often focused on other GTA cities, such as Mississauga, Brampton, and Vaughan. But their appreciation rates come nowhere close to what&rsquo;s happening in Durham&rsquo;s largest municipality.<h2>Condo values rise by 48%, on track to hit 50% this week</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/100/Toronto-Neighbourhood-Oshawa-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/100/Toronto-Neighbourhood-Oshawa.jpeg"/><img src="https://strata.ca/slate-image/article-images/100/Toronto-Neighbourhood-Oshawa.jpeg" alt="Oshawa welcome sign "/></picture>Oshawa&rsquo;s condominiums have surged in value since the pandemic began. In the past 12 months alone, property values have increased by nearly 50%. To put that in perspective, Mississauga values are up 6%, while Brampton and Vaughan are sitting at 11% and 5% respectively.When it comes to condo transactions, Oshawa&rsquo;s total sales in February were up 48% compared to the same time last year. The average condo sale price is also on track to break the half-a-million mark. Now sitting at $483,000, that works out to about $540 per-square-foot. Oshawa condos tend to have more spacious layouts, compared to those in Toronto. And although high-rises do exist, low-rises and condominium townhomes are abundant.Here are the Oshawa condos that have increased most in value during the past 12 months:1) <a href="https://strata.ca/oshawa/909-king-st-w-townhomes-909-king-st-w" target="_blank">909 King St West</a>: +27%2) <a href="https://strata.ca/oshawa/1055-central-park-place-townhomes-1055-central-park-blvd-n" target="_blank">1055 Central Park Blvd North</a>: +21%3) <a href="https://strata.ca/oshawa/north-pine-village-townhomes-120-nonquon-rd" target="_blank">120 Nonquon Rd</a>: 19%4) <a href="https://strata.ca/oshawa/43-53-taunton-court-condos-43-taunton-rd-e-53-taunton-rd-e" target="_blank">43 &amp; 53 Taunton Rd East</a>: +17%5) <a href="https://strata.ca/oshawa/pheasant-run-estates-townhomes-700-harmony-rd-n" target="_blank">700 Harmony Rd North</a>: +16%<h2>No longer a &lsquo;bedroom community&rsquo;</h2>Oshawa has one of Canada&rsquo;s <a href="https://www150.statcan.gc.ca/n1/daily-quotidien/210114/dq210114a-eng.htm" target="_blank" rel="nofollow">fastest-growing populations</a>. And according to Statistics Canada, much of that is attributed to urban sprawl, which continues in and around Toronto. The city is victim to record-high population losses as more people choose to live outside large urban centres.&ldquo;Given today&rsquo;s migrational trends, it&rsquo;s not surprising to see Oshawa, and Durham Region as a whole, outpace the rest of the GTA. Whitby, for example, may not be as hot as Oshawa. But it, too, is seeing an increase of 20% in property values over the past year,&rdquo; says Robert Van Rhijn, Broker of Record at <a href="https://strata.ca" target="_blank">Strata.ca</a>.Van Rhijn notes that Ontario&rsquo;s &lsquo;motor city&rsquo; has spent years in an auto industry slump. But he believes the COVID-19 pandemic has allowed Oshawa to rebrand itself as a liveable city; one that&rsquo;s perfect for families and young professionals who can now afford to work from home.&ldquo;Oshawa is no longer that sleepy bedroom community you once knew. I used to hear a lot of Toronto homebuyers swear they&rsquo;d never go past Pickering. But with today&rsquo;s remote working options, I&rsquo;m seeing more clients push their geographic boundaries and wonder what&rsquo;s further east,&rdquo; adds Van Rhijn.<a href="https://strata.ca" target="_blank">Strata.ca</a> real estate agent Jessie Pereira agrees. She says Oshawa has become the big beneficiary of Toronto&rsquo;s red-hot market.&ldquo;The average selling price for a condo in Toronto is well over $700,000. That&rsquo;s why Oshawa has become an attractive option. Not only can you buy property here for much cheaper, but you&rsquo;re also getting in on a market with long-term possibilities for profit,&rdquo; says Pereira.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Oshawa Condos Rise in Value by Nearly 50%; Officially Becomes GTA’s Hottest Market

At <a href="https://strata.ca" target="_blank">Strata.ca</a>, we&rsquo;re always trying to understand what condo buyers are looking for in a home. While TV shows may suggest that lavish penthouses and panoramic waterfront views are what buyers seek, the data often tells a different story &mdash; one that&rsquo;s more practical.Toronto&rsquo;s most searched for condos are littered throughout the GTA, and as far west as Mississauga. Granted, some of these condos are quite luxurious; but by and large, the top 10 most searched for condos on <a href="https://strata.ca" target="_blank">Strata.ca</a> are those offering great value.<h2>Downtown</h2><h3>92 King St East - King Plaza</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_92KingStreetEast_King_Plaza_Condo_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_92KingStreetEast_King_Plaza_Condo_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/01_92KingStreetEast_King_Plaza_Condo_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>There's probably no better indicator of quality than the fact that <a href="https://strata.ca/toronto/king-plaza-92-king-st-e" target="_blank">92 King Street East</a> is among the most searched for condominiums in the city, 30 years after its completion date. King Plaza offers spacious floor plans, convenient amenities, and best of all, below average price-per-square-foot in the heart of the St. Lawrence market.Because of the building's age, you may find opportunities to modernize dated finishes with your own personal touch.<h3>1-47 Sudbury St - King West Townhomes</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_1-45SudburyStreet_KingWestTownhomes_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_1-45SudburyStreet_KingWestTownhomes_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_1-45SudburyStreet_KingWestTownhomes_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>For families wanting to stay downtown without sacrificing space, <a href="https://strata.ca/toronto/king-west-townhomes-1-47-sudbury-st" target="_blank">1-47 Sudbury Street</a> is the perfect compromise. The King West Townhomes aren't necessarily chic, and do require some updates. But buyers are drawn to the charming red brick facades, large suite sizes, and multi-floor layouts.&ldquo;These townhomes are an affordable alternative for young couples wanting to start a new family. And there&rsquo;s always great resale value when it&rsquo;s time for something bigger,&rdquo; says Victoria D&rsquo;Ilario, real estate agent at <a href="https://strata.ca" target="_blank">Strata.ca</a>.Despite its urban location, this complex has a private community feel and is set back from major thoroughfares. Suites are typically larger than other townhomes with comparable layouts. Some units even come with gas fireplaces and private rooftop patios.<h3>120 Bayview Ave &amp; 398 Front St East - Canary Park</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_120BayviewAvenue_398FrontStreetEast_Canary_Park_Condo_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_120BayviewAvenue_398FrontStreetEast_Canary_Park_Condo_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_120BayviewAvenue_398FrontStreetEast_Canary_Park_Condo_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture><a href="https://strata.ca/toronto/canary-park-398-front-st-e-120-bayview-ave" target="_blank">120 Bayview Ave</a>, also known as Canary Park, is a newer mid-rise development in the Corktown neighbourhood. As the name suggests, this condominium complex sits on a park. Residents enjoy an assortment of amenities, including an indoor pool, a fitness centre, a games room, and more.<a href="https://strata.ca" target="_blank">Strata.ca</a> real estate agent, Alex Hood, thinks Canary Park is a frontrunner in today&rsquo;s market because it offers many of the things that buyers are looking for, especially from a quality-of-life perspective.&ldquo;Because it&rsquo;s steps from the Distillery District, you can get to a big selection of shops and restaurants on foot. There&rsquo;s also easy access to TTC. If you&rsquo;re driving, you can head to all your favourite destinations via the DVP or Gardiner in just minutes.&rdquo;Each of the 439 units in Canary Park contain executive finishes. Granite countertops, European styled kitchens with integrated appliances, and hardwood flooring are standard. All suites are open concept, and many feature irregularly shaped layouts; a nice change from the linear, bowling alley style units found in other modern buildings.<h2>East End</h2><h3>88 Colgate Ave - Showcase Lofts</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_88ColgateAvenue_Showcase_Lofts_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_88ColgateAvenue_Showcase_Lofts_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/01_88ColgateAvenue_Showcase_Lofts_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>If you&rsquo;re going to call your loft &lsquo;Showcase&rsquo;, it had better impress. Fortunately, <a href="https://strata.ca/toronto/showcase-lofts-88-colgate-ave" target="_blank">88 Colgate Avenue</a> does just that. This 7-storey soft loft in the Leslieville-South Riverdale neighbourhood blends rustic touches (like exposed brick walls) with the amenities and luxuries of an upscale condo.The suites here include hardwood floors, sliding glass walls separating bedrooms, and quartz countertops with stainless steel appliances. As well, all units have large private balconies.Hood says you get the benefit of living in a unique building without paying high maintenance fees, which is a common downside to many boutique condominiums.&ldquo;You also get that industrial feel that&rsquo;s in short supply, but high demand. And being a &lsquo;soft loft&rsquo;, you don&rsquo;t have to be concerned about travelling noise the way you would in some converted &lsquo;hard lofts&rsquo;&rdquo;, adds Hood.Considering the incredible location near Queen East, it&rsquo;s hardly surprising to see this building attract so many eyes.<h3>2055 Danforth Ave - Carmelina Condos</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_2055DanforthAvenue_CarmelinaCondos_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_2055DanforthAvenue_CarmelinaCondos_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_2055DanforthAvenue_CarmelinaCondos_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture><a href="https://strata.ca/toronto/carmelina-condos-2055-danforth-avenue" target="_blank">2055 Danforth Avenue</a> is a mid-rise offering great value at an exceptional location in the Upper Beaches.The desirability around the Carmelina Condos is a testament to its quality. For starters, residents enjoy a carefully curated list of amenities, and most suites offer modern finishes. These units also have extremely efficient layouts with lots of natural lighting and private balconies. You can easily run errands on foot or commute into the downtown core via Woodbine Station, just minutes from the building.<h2>West End</h2><h3>1830 Bloor St West - High Park Residences</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_1830BloorStreetWest_High_Park_Residences_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_1830BloorStreetWest_High_Park_Residences_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_1830BloorStreetWest_High_Park_Residences_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>Though plenty of condos lean on the High Park name, <a href="https://strata.ca/toronto/high-park-residences-1830-bloor-st-w" target="_blank">High Park Residences</a> is one of only two condos that directly overlooks the famous 400 acres of parklands. The developer, Daniels Corp, clearly took this to heart. It designed the U-shaped building to provide the most units with a view of the park.Galina Sheveleva, <a href="https://strata.ca" target="_blank">Strata.ca</a> real estate agent, thinks you just can&rsquo;t beat this condo&rsquo;s excellent location.&ldquo;Not only is it steps from the Bloor subway line and right across from the park, but it&rsquo;s also an ideal option for those looking to live close to the core...and still avoid the hectic vibes that downtown neighbourhoods tend to have,&rdquo; she says.The High Park Residences offer many appealing amenities. And yet, maintenance fees are below average, as is price per square foot. Prospective buyers won&rsquo;t find top-end finishes in most units. But with 9-foot ceilings, open concept layouts, and large windows, these suites have great bones.<h3>812 Lansdowne Ave - Upside Down Condos II</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_812LandsowneAvenue_Upside_Down_Condos_II_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_812LandsowneAvenue_Upside_Down_Condos_II_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_812LandsowneAvenue_Upside_Down_Condos_II_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>Upside Down Condos II is located at <a href="https://strata.ca/toronto/upside-down-condos-ii-812-lansdowne-ave" target="_blank">812 Lansdowne Avenue</a> -- just minutes from shopping, dining, and public transit. The building contains 303 suites, all of which are modern and open concept. Kitchens feature granite counters, stainless-steel appliances, and ceramic flooring. Internet sleuths will note that most bedrooms have carpet, but that&rsquo;s an easy replacement.Price-per-square foot and condo fees are slightly higher than the neighbourhood average. But they&rsquo;re still lower compared to downtown Toronto.<h3>1093 Queen St W &amp; 106 Dovercourt Rd - TEN93 Condos</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_TEN93-Lofts-1093-Queen-St-W-Toronto-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_TEN93-Lofts-1093-Queen-St-W-Toronto-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_TEN93-Lofts-1093-Queen-St-W-Toronto-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture><a href="https://strata.ca/toronto/ten93-condos-106-dovercourt-rd-1093-queen-st-w" target="_blank">1093 Queen Street West</a> is home to TEN93 Condos, a soft loft development in Little Portugal. But you could say this building is more &lsquo;luxury condo&rsquo; than it is loft. From subway tile backsplashes to wide-plank hardwood floors and stylish interior windows, there are few vintage touches or rustic vibes inside.The building&rsquo;s Queen Street West location means dining and nightlife can be found just outside the lobby doors. With Queen streetcars running east and west, plus nearby on-ramps to the Gardiner Expressway -- TEN93 checks all the boxes for comfort, style, and convenience.<h2>Scarborough</h2><h3>1100 Kingston Rd - Kingston &amp; Co Condos</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_ kingston-co-condos-1100-kingston-road-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_ kingston-co-condos-1100-kingston-road-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_ kingston-co-condos-1100-kingston-road-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture><a href="https://strata.ca/toronto/kingston-co-condos-1100-kingston-rd" target="_blank">1100 Kingston Road</a> perfectly encapsulates why south Scarborough&rsquo;s Birch Cliff-Cliffside neighbourhood has become so popular in recent years. Kingston &amp; Co Condos is just steps from pubs, restaurants, and a large green space. It&rsquo;s also a 5-minute drive to Woodbine Beach. In short, this condo offers the Beaches lifestyle at a good discount.&ldquo;More than half of the suites here are larger than 800 square feet, and many of them offer unique lake views. You definitely get more value for your dollar, compared to similar units in the Beaches or downtown,&rdquo; says Larry Medina, real estate agent at <a href="https://strata.ca" target="_blank">Strata.ca</a>.In all, there are 144 units spread out over 10 floors. You&rsquo;ll find rich hardwood throughout principal rooms, with lavish bathrooms and gourmet kitchens. Stainless steel appliances and generous counter space are also a big draw. All suites have large private balconies, and residents can enjoy some great amenities.<h2>Mississauga</h2><h3>3895 Doug Leavens Blvd</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_3895 doug leavens boulevard-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_3895 doug leavens boulevard-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/01_3895 doug leavens boulevard-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>The suites at <a href="https://strata.ca/mississauga/3895-doug-leavens-boulevard-townhomes-3895-doug-leavens-blvd" target="_blank">3895 Doug Leavens Blvd</a> are essentially attached houses that sell in the mid-700s in a great area. And therein lies the desirability for this Mississauga complex. For families in search of a safe, and affordable area to call home, there&rsquo;s a lot to love about the Lisgar neighbourhood along Line 9. The area is populated with diverse families, lots of parks, water features, and quality schools. You&rsquo;ll also find lots of shopping nearby, plus easy commuter access.&ldquo;You&rsquo;re basically getting the idyllic suburban lifestyle without all the hassle of traditional home maintenance. These townhomes offer generous space, comfortable layouts and an overall higher quality of life,&rdquo; says Medina.Inside, finishes vary based on past renovations. Some are quite modern while others are in need of love. Regardless, all suites are open concept and most feature multi-floor layouts, with fenced backyards, and private garages.

These are the GTA Condos Most Searched for on Strata.ca

We know this isn&rsquo;t a condo, but we just couldn&rsquo;t resist sharing this off-market cottage for sale with our readers. You won&rsquo;t find it on any listing platforms, including <a href="https://www.realtor.ca/" target="_blank" rel="nofollow">realtor.ca</a> or MLS.This beautiful three-storey cottage in the Kawarthas is a rare treasure. Situated along the pristine shores of Clear Lake, the 8,000 square-foot property features soaring cathedral ceilings and panoramic views of the water. You&rsquo;ll also find a 2-boat garage, massive wraparound decks, plus an elevator inside. The owner&rsquo;s asking price? $5M.<video width="350" poster="https://slate-video.s3.ca-central-1.amazonaws.com/strata_lakefield.jpeg" controls><source src="https://slate-video.s3.ca-central-1.amazonaws.com/strata_lakefield.mp4" type="video/mp4" /></video><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/01DSC02370-min-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/01DSC02370-min.jpg"/><img src="https://strata.ca/slate-image/article-images/96/01DSC02370-min.jpg" alt="Kawarthas cottage living room "/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/02SummerExterior3-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/02SummerExterior3.jpeg"/><img src="https://strata.ca/slate-image/article-images/96/02SummerExterior3.jpeg" alt="Kawarthas cottage summer exterior"/></picture><a href="https://strata.ca" target="_blank">Strata.ca</a> agent Cliff Liu, who has access to this off-market listing, describes the property as phenomenal.&ldquo;Anyone stepping into this cottage will be captivated by all the gorgeous views of the lake. Floor-to-ceiling windows throughout the home can&rsquo;t even begin to capture the kind of beauty that surrounds it. Even when you&rsquo;re inside, there&rsquo;s this real sense of the natural outdoors flooding in.&rdquo;This cottage is not only spacious, but features just the right amount of rustic and luxury; the perfect balance to make you feel right at home, yet off in paradise far away. Dark kitchen cabinets, glamorous black counters, and sharp black window trim are a stunning contrast to all the light wood throughout the home.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/03DSC02587-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/03DSC02587.jpg"/><img src="https://strata.ca/slate-image/article-images/96/03DSC02587.jpg" alt="Kawarthas cottage amazing view"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/04DSC02410-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/04DSC02410.jpg"/><img src="https://strata.ca/slate-image/article-images/96/04DSC02410.jpg" alt="Kawarthas cottage large kitchen"/></picture>And with 10 bedrooms plus 5 full bathrooms, there&rsquo;s more than enough room to accommodate loved ones comfortably.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/05DSC02547-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/05DSC02547.jpg"/><img src="https://strata.ca/slate-image/article-images/96/05DSC02547.jpg" alt="Kawarthas cottage master bedroom"/></picture>Meanwhile, multiple seating areas both indoors and out truly make this cottage an entertainer&rsquo;s dream!<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/06DSC02480-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/06DSC02480.jpg"/><img src="https://strata.ca/slate-image/article-images/96/06DSC02480.jpg" alt="Kawarthas cottage lounge room"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/07DSC02540-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/96/07DSC02540.jpg"/><img src="https://strata.ca/slate-image/article-images/96/07DSC02540.jpg" alt="Kawarthas cottage sauna room"/></picture>For more information or to book a showing, please contact <a href="https://strata.ca/agents/cliff-liu" target="_blank">Cliff Liu</a>.

This $5M cottage in the Kawarthas has its own elevator and 2-boat garage

Condos in Toronto&rsquo;s traditionally-overlooked neighbourhoods have the highest appreciation rates in the city. Jane and Finch, Rexdale and Malvern are even outpacing the downtown core by as much 20%. Not only are investors maximizing their ROI in these neighbourhoods, but the majority of Toronto&rsquo;s best-performing condominiums are also concentrated here.The city&rsquo;s average condo appreciation rate is 2% year-over-year. But properties in Malvern in Scarborough&rsquo;s northeast corner, for example, have seen a value increase of 14% during the past 12 months. Jane and Finch, meanwhile, has an appreciation rate of 11%. Even Rexdale, which saw condo values plunge in mid-October, has made a surging comeback. Its appreciation rate has increased by 5.15% in the past 60 days alone. Compare that to condos in the downtown core, which have been reporting an overall depreciation this past year of -6%.<h2>Immigrant populations may be driving appreciation rates</h2>Robert Van Rhijn is the Broker of Record at <a href="https://strata.ca" target="_blank">Strata.ca</a>. He says many immigrant populations may not have the means to purchase in the heart of the city, forcing them to look elsewhere. And that could be what&rsquo;s pushing up appreciation rates in North York, Etobicoke and Scarborough.&ldquo;Because prices downtown are typically higher, people usually look to outlying neighbourhoods for better value. This creates more demand than there is supply, resulting in value increases as buyers compete and outbid one another. Our data shows that sellers in Jane and Finch, Rexdale and Malvern have been the beneficiaries of this trend over the past year,&rdquo; adds Van Rhijn.<h2>Malvern has largest concentration of condos with biggest ROI</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/94/01_Mayfair_on_the_Green_IV_Condos_480_Mclevin_Ave-2000-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/94/01_Mayfair_on_the_Green_IV_Condos_480_Mclevin_Ave-2000.jpg"/><img src="https://strata.ca/slate-image/article-images/94/01_Mayfair_on_the_Green_IV_Condos_480_Mclevin_Ave-2000.jpg" alt="Malvern Mayfair on the green"/></picture>Strata looked at the average cost-per-square-foot for every building in the city. We then compared those figures against both the neighbourhood and city average, giving us a percentage value. By doing this, we were able to pinpoint the properties that have provided the best return on investment (ROI) during the past 12 months.Our data shows that the majority of Toronto&rsquo;s highest-performing condominiums are concentrated in Jane and Finch, Rexdale and Malvern for a total of 24 properties.For each neighbourhood, here are the top 3 condos that have appreciated most in value this past year:<h3>Malvern</h3><a href="https://strata.ca/toronto/mayfair-on-the-green-iv-condos-480-mclevin-ave" target="_blank">480 McLevin Avenue:</a> +22%<a href="https://strata.ca/toronto/carriage-house-condos-10-tapscott-rd" target="_blank">10 Tapscott Road:</a> +19%<a href="https://strata.ca/toronto/1701-1703-1705-mccowan-condos-1701-mccowan-rd-1703-mccowan-rd-1705-mccowan-rd" target="_blank">1701, 1703, 1705 McCowan:</a> +18%<h3>Jane and Finch</h3><a href="https://strata.ca/toronto/10-eddystone-avenue-condos-10-eddystone-ave" target="_blank">10 Eddystone Avenue:</a> +25%<a href="https://strata.ca/toronto/bristol-house-condos-10-tobermory-dr" target="_blank">10 Tobermory Drive:</a> +24%<a href="https://strata.ca/toronto/5-frith-condos-5-frith-rd" target="_blank">5 Frith Road:</a> +19%<h3>Rexdale</h3><a href="https://strata.ca/toronto/kings-terrace-condos-6-humberline-dr" target="_blank">6 Humberline Drive:</a> +23%<a href="https://strata.ca/toronto/mansions-of-humberwood-ii-700-humberwood-blvd" target="_blank">700 Humberwood Boulevard:</a> +14%<a href="https://strata.ca/toronto/mansions-of-humberwood-710-humberwood-blvd" target="_blank">710 Humberwood Boulevard:</a> +10%Van Rhijn believes that we&rsquo;ll continue to see a lot of upswing in these traditionally-overlooked neighbourhoods. And as appreciation rates increase, he expects some level of gentrification to occur in the years ahead.&ldquo;As prices rise, we&rsquo;ll undoubtedly see the typical signs of gentrification occur. That means more boutique shops, restaurants and other amenities popping up in these areas. This will result in even more demand among a more diverse demographic of buyers. Both families and investors would be smart to start exploring these neighbourhoods, given they may look quite different 10 years down the road.&rdquo;For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Jane and Finch, Rexdale, Malvern Have Toronto’s Highest Condo Appreciation Rates, Outpacing Downtown Core by Nearly 20% [REPORT]

Yorkville, The Annex and Casa Loma are among those hit hardest during the COVID-19 pandemicAfter years of growth, Toronto&rsquo;s luxury neighbourhoods suffered a setback in the past 12 months. When it comes to year-over-year value, some areas have dropped by as much as 30%. It&rsquo;s a startling figure. But not surprising given what we&rsquo;ve seen throughout the province, as buyers move to traditionally-overlooked areas in search of cheaper prices and more space. Unfortunately, that means some of Toronto&rsquo;s luxury neighbourhoods have taken a tremendous hit.Neighbourhoods With Biggest Decline in Value Over Past 12 Months<h3>1. The Annex: -29.96%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_BiancaCondos_theannex_toronto1-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_BiancaCondos_theannex_toronto1.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_BiancaCondos_theannex_toronto1.jpg" alt="Bianca Condos at The Annex Toronto"/></picture><h3>2. Bloor-Yonge: -11.98%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_onebloor_luxury_interior_toronto-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_onebloor_luxury_interior_toronto.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_onebloor_luxury_interior_toronto.jpg" alt="One Bloor Residence at Yonge and Bloor Toronto"/></picture><h3>3. Yorkville: -11.79%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_yorkville_toronto_hazeltonres-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_yorkville_toronto_hazeltonres.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_yorkville_toronto_hazeltonres.jpg" alt="Luxury Condo The Hazelton at Yorkville"/></picture><h3>4. Casa Loma: -11.13%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_77_ClarendonCondos_casaloma_toronto-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_77_ClarendonCondos_casaloma_toronto.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_77_ClarendonCondos_casaloma_toronto.jpg" alt="Maison 77 Clarendon Condo at Casa Loma Toronto"/></picture><h3>5. Bay St. Corridor: -6.31%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_baystcorridor_thebrittcondos-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_baystcorridor_thebrittcondos.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_baystcorridor_thebrittcondos.jpg" alt="The Britt Condos at Bay St Corridors"/></picture>Our findings also show that in the above neighbourhoods:<h6>Condo inventory levels are nearly double right now than during the same time last year, except for The Annex.</h6><h6>Rental values have also plunged</h6><ul><li>The Annex: -11.50%</li><li>Bloor-Yonge: -21.58%</li><li>Yorkville: -19.21%</li><li>Casa Loma: -18.67%</li><li>Bay St. Corridor: -22.56%</li></ul><h6>Nearby &lsquo;non-luxury&rsquo; neighbourhoods have increased in value</h6><ul><li>The Junction: +11.33%</li><li>Leslieville/South Riverdale: +5.16%</li><li>Regent Park: +5.67%</li></ul><h2>Why the Drop?</h2>Much of what&rsquo;s happening in the luxury market can be easily understood as a shift in supply and demand. The drivers of this movement are many: Airbnb short-term rentals moving to the long-term market; the loss of student renters in areas like The Annex and Bloor-Yonge forcing investors to sell, as well as dropping confidence in the desirability of a luxury home. And of course, remote work is allowing buyers to look outside the downtown core.Sam Massoudi is a real estate agent at <a href="https://strata.ca">Strata.ca</a> with investor clients in hard-hit luxury neighbourhoods. For years, many of them relied on wealthier international students as tenants. But some of Massoudi&rsquo;s clients have been forced to sell, since virtual learning means foreign students can attend Canadian schools from abroad.&ldquo;I have investor clients who were once so proud to own a property in a luxury neighbourhood. But they had no idea a pandemic like this was going to hit and drive immigration out of the city. So now some of them have sold. For those who didn&rsquo;t, they&rsquo;re renting these places out for very cheap. That's why we&rsquo;re seeing such low rents in some luxury areas,&rdquo; adds Massoudi.All of these factors have played a part in shifting demand. But <a href="https://strata.ca">Strata.ca</a>&rsquo;s Broker of Record, Robert Van Rhijn, believes the real driver is a change in buyer thinking.&ldquo;Buyers will often prioritize value over luxury when in a recessionary environment. Even those who have the means to purchase high-end properties are likely to hold off. Sometimes they worry that luxury might become devalued, resulting in a wait-and-see approach,&rdquo; says Van Rhijn.<h2>Substance Over Style</h2>Buyers are seeking the best value for their dollar, and they want a sure thing. During a pandemic, what&rsquo;s the point in a Yorkville condo when there&rsquo;s no 5-star dining or boutique shopping allowed? Or a Bay Street penthouse when density is now a deterrent? When value is difficult to define, buyers stick to what they know &mdash; price and square footage.In the example of Regent Park, Leslieville, and the Junction, where prices are soaring, all three neighbourhoods have a lower than average price-per-square foot, and a growing stock of aesthetically-unique condos. In fact, all three neighbourhoods have a high number of <a href="https://strata.ca/blog">loft </a> residences, which could also explain their soaring values.Van Rhijn isn&rsquo;t surprised though that &lsquo;non-luxury&rsquo; neighbourhoods are seeing the opposite trend.&ldquo;The Junction and Regent Park are still gentrifying, so I&rsquo;m not startled to see values increase as cautious buyers hunt for better deals. Look, even during lockdown periods, we&rsquo;re seeing bidding wars in these areas,&rdquo; says Van Rhijn.

Toronto’s Luxury Neighbourhoods Have Dropped in Value by Up to 30% [REPORT]

<h2>Toronto&rsquo;s Best Eco-Friendly Condos</h2>We all need to do our part to combat climate change &mdash; and many of us take climate into consideration in our daily lives by recycling, using public transportation or walking when possible, and turning off lights and appliances when not in use.If you fall into that category, you&rsquo;re likely feeling good about your carbon footprint. After all, you recycle and compost in your green bin and try to avoid takeout containers &mdash; you don&rsquo;t take that weird cup holder thing in the drive through, and your car is relatively fuel efficient. Perhaps, you&rsquo;ve even grown a plant or two without it dying in an act of negligence.You&rsquo;re all set on climate! Congratulations!Except, that your home may in fact not be very eco friendly. Large single-family dwellings can often leave a large carbon footprint and even some condos aren&rsquo;t as environmentally friendly as you might hope. What&rsquo;s worse, you&rsquo;re probably paying more in utilities than you would with an eco friendly home.So, if you want to save money and help save the environment, you may wish to look for an eco friendly condo. The only problem is: how do you find a green condo in Toronto?<h2>What Is an Eco-Friendly Condo?</h2>Spotting the distinction between an eco friendly condo and a not-so eco friendly condo can be challenging. In most cases, you cannot spot an eco friendly condo from street level, and while many buildings advertise themselves as environmentally friendly, what that entails can vary wildly between condo buildings.One of the sure-fire ways to know if a building is eco friendly is whether or not it&rsquo;s received <a href="https://www.cagbc.org/CAGBC/Programs/LEED/LEED_Certification_Process.aspx" target="_blank">LEED certification</a>; a certification with four standards &mdash; certified, silver, gold, and platinum &mdash; and based on a number of different criteria for green building strategies, such as location, water flow efficiency, energy efficiency, and more.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/LEED-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/LEED.png"/><img src="https://strata.ca/slate-image/article-images/85/LEED.png" alt="LEED CAGBC"/></picture>Based on this certification process, you can have confidence that a building is eco friendly, but if you&rsquo;re very thorough or just curious, these are some of the features you can expect to encounter in an eco friendly building.<ul><li>Rainwater harvesting</li><li>Dual flush efficient toilets</li><li>Green roofs &mdash; vegetation on top of the roof to cool the building</li><li>Environmentally friendly building materials</li><li>Ride sharing programs</li><li>Charging stations</li><li>Energy star appliances</li><li>LED lighting and motion sensor lighting</li></ul>This isn&rsquo;t the definitive list of green features found in green condos in Toronto as there are new features developed all the time. Finding a building with a number of these features will ensure that your carbon footprint is as low as possible, and to save you some time, we&rsquo;ve tracked down the most efficient buildings in the Greater Toronto Area that are also great homes.<h2>The Best Green Condos in Toronto</h2>What makes for the best eco friendly condo? Well, it starts with energy efficient features and green building strategies, however, the best eco friendly condos provide style, comfort, and as a bonus, they make for great investments.<h3>Minto 775</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/00_775KingStreetWest_78TecumsethStreet_Minto_775_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/00_775KingStreetWest_78TecumsethStreet_Minto_775_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/85/00_775KingStreetWest_78TecumsethStreet_Minto_775_Exterior.jpg" alt="Minto 775 King west"/></picture><a href="https://strata.ca/toronto/minto-775-775-king-st-w-78-tecumseth-st" target="_blank">Minto 775</a> takes its eco friendly designation to heart. The building incorporates a number of energy-saving features such as a rain harvesting system and a green roof to keep the building cool. Residents have a car share program, a bike share program, and electric charging stations for electric cars.Inside, the units carry on with the energy saving theme with dual flush efficient toilets and expanded recycling options. Of course, Minto 775 is so much more than just an eco friendly building. Residents enjoy an array of alluring extras such as fitness centre, games room, parking garage, rooftop deck and garden, concierge, and more. Suites are finished with high quality materials such as hardwood floors and granite counters, and all suites have energy efficient appliances.375 King Street West, M5V<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/00_375KingStreetWest_M5V_Condos_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/00_375KingStreetWest_M5V_Condos_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/85/00_375KingStreetWest_M5V_Condos_Exterior.jpg" alt="375 King M5V"/></picture>A contemporary building with LEED Gold Status, <a href="https://strata.ca/toronto/m5v-condos-375-king-st-w" target="_blank">M5V</a> strikes a balance between affordability, luxury, and eco friendly living. It&rsquo;s a condo that&rsquo;s perfectly suited to King West, and a great choice for budget minded buyers who want to do their part to reduce emissions.Eco friendly features at 375 King Street aren&rsquo;t just great for the environment, they&rsquo;re also great for your wallet or purse or money clip&hellip; whatever weird thing you use to hold cash. All suites are equipped with energy recycling systems and constructed of eco friendly building materials. The placement of the mechanical room at the midpoint of the building ensures that energy is utilized efficiently. A green roof keeps the building cool on warm summer days and also provides a potential home for insects.One other notable feature that&rsquo;s a bonus to anyone seeking green condos in Toronto, the deep balconies keep the units cooler and also provide more space than found with most modern units. All suites have hardwood floors and upgraded kitchens with granite counters and integrated stainless-steel appliances. Not bad for an eco friendly building!<h3>Quantum Towers</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/00_2181YongeStreet_Quantum_South_Tower_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/00_2181YongeStreet_Quantum_South_Tower_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/85/00_2181YongeStreet_Quantum_South_Tower_Exterior.jpg" alt="Quantum towers, yonge street, toronto, exterior"/></picture>Located in midtown, <a href="https://strata.ca/toronto/quantum-south-tower-2181-yonge-st" target="_blank">Quantum South Tower</a> and <a href="https://strata.ca/toronto/quantum-north-tower-2191-yonge-st" target="_blank">North Tower</a> have already carved out a reputation for affordability and functionality in the Yonge and Eglinton neighbourhood, but their eco friendly innovations have largely flown under the radar.Units in this building are equipped with efficient air quality regulation systems for cooling and heating, motion sensing lights in hallways, dual flush toilets in all suites, LED lighting on the exterior of the building, and energy star efficient appliances. These towers have both received LEED Gold certification.All of these energy efficient features will certainly be felt in your lighter utility bills, and best of all, suites have desirable finishes like granite counters, stainless steel appliances, hardwood floors, and lavish materials in bathrooms.Oh, did we mention that these developments are overflowing with incredible amenities, including a pool and saunas, and that these fantastic towers are mere steps from Eglinton Subway Station? We probably should have led with that.<h3>One Cole Street</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/01_1-25ColeStreet_One_Cole_Condos_ExteriorFacade-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/01_1-25ColeStreet_One_Cole_Condos_ExteriorFacade.jpg"/><img src="https://strata.ca/slate-image/article-images/85/01_1-25ColeStreet_One_Cole_Condos_ExteriorFacade.jpg" alt="One Cole Street, Toronto, Fascade"/></picture><a href="https://strata.ca/toronto/one-cole-condos-1-25-cole-st" target="_blank">One Cole Condos</a> In Regent Park is a building that offers peace of mind and fantastic homes. 1 Cole doesn&rsquo;t just feature great eco friendly initiatives, it&rsquo;s also quite innovative; residents have individual gardening plots so they can take part in climate friendly action; a unique living wall functions as a natural plant life air filter, and a sprawling rooftop garden keeps the building cool and provides some valuable oxygen in the city.There are heat recovery vents for conserving energy and all suites have energy efficient appliances. One Cole Street has received LEED Gold certification and happens to be in a great location for getting some fresh air in the city along the Lower Don River Trail.Beautiful suites and relaxing amenities might make the eco friendly features an afterthought, but nonetheless, residents are doing their part to reduce their carbon footprint, even when they&rsquo;re not thinking about it.<h3>55 Front Street East</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/01_55FrontStreetEast_Berczy_Condos_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/01_55FrontStreetEast_Berczy_Condos_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/85/01_55FrontStreetEast_Berczy_Condos_Exterior.jpg" alt="55 front st, toronto condo"/></picture>Located in St Lawrence Market, a neighbourhood that needs no introduction, <a href="https://strata.ca/toronto/the-berczy-55-front-st-e" target="_blank">The Berczy</a> is a 12 storey standout that offers a blend of luxury and eco efficiency. Naturally, this residence is LEED Gold certified.Like many other green condos in Toronto, the Berczy has a green roof that helps to regulate the building&rsquo;s temperature, and as well, the materials used in construction were designed to improve air quality. Energy efficient electrical features and recycled building materials were used in construction when possible. Also, units have energy efficient heating and cooling.es.All suites have European style kitchens with integrated appliances, granite or stone countertops, hardwood floors, wall-to-wall, floor-to-ceiling windows, and open concept layouts. Rounding out the attractions, this building offers an array of exciting recreation focused amenities &mdash; media room, gym, games room, and more &mdash; as well as below average maintenance fees.<h3>Minto 30 Roehampton</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/01_30RoehamptonAvenue_Minto_30_Roe_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/01_30RoehamptonAvenue_Minto_30_Roe_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/85/01_30RoehamptonAvenue_Minto_30_Roe_Exterior.jpg" alt="30 roehampton minto condo "/></picture>The second Minto building featured, also LEED Gold certified, is a residence that&rsquo;s no less eco friendly or desirable then its counterpart. <a href="https://strata.ca/toronto/minto-30-roehampton-30-roehampton-ave" target="_blank">30 Roehampton Ave</a> includes a multitude of green initiatives &mdash; a bike share program, charging stations for electric vehicles, a green roof, rainwater harvesting, and special heat treatments on window panes to reduce energy loss.Minto 30 is situated in the Yonge and Eglinton neighbourhood, only minutes from shopping, dining, nightlife, and a subway station. All suites have luxurious kitchens with granite counters and stainless-steel, energy efficient appliances, as well as floor to ceiling windows and private balconies.While the price per square foot is roughly average for the neighbourhood, maintenance fees are below average thanks to energy efficient features and yet, the building features an assortment of exciting amenities.<h3>Aqualina Condos at Bayside</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/27876119187_2edea05048_h-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/85/27876119187_2edea05048_h-2.jpg"/><img src="https://strata.ca/slate-image/article-images/85/27876119187_2edea05048_h-2.jpg" alt="Aqualina Condos at Bayside"/></picture><a href="https://strata.ca/toronto/aqualina-condos-at-bayside-55-merchants-wharf-15-merchants-wharf" target="_blank">Aqualina Condos at Bayside</a> has an enviable distinction&mdash;it&rsquo;s the first green condo in Toronto to receive LEED Platinum certification, a gigantic feat. Constructed in 2018, Aqualina is a stunning lakeside condo in Toronto&rsquo;s waterfront community, home to 362 suites spread out over 12 storeys.It&rsquo;s clear that achieving platinum certification was an important goal for Acqualina. The condo utilizes solar panels on the roof for electricity, water efficient plumbing, and a slew of innovative features to improve indoor air quality and energy efficiency.While this is one of the most eco efficient condos in the country, green features don&rsquo;t detract from amenities; residents have a shared rooftop infinity pool and lounge with lakefront views, a movie room, a party room, a fitness centre, and much more. Suites have desirable finishes such as integrated energy efficient appliances, hardwood floors, and open concept layouts; for those seeking a higher degree of luxury, the building offers a signature collection of suites, as well as penthouses.A lakefront condo with LEED Platinum certification &mdash; does it get any better?

Toronto’s Best Eco-Friendly Condos

<h2>Transform Your Condo Balcony into a Retreat</h2>Homeowners go through great pains to create the perfect aesthetic in their home &mdash; unfortunately, that aesthetic doesn&rsquo;t often extend to the balcony.Condo balconies are somewhat of an enigma. Many buyers refuse to consider a unit without a dedicated balcony space, and yet, these balconies tend to be left empty and are underutilized. It&rsquo;s not that condo buyers aren&rsquo;t creative, rather, condo balconies can be difficult to decorate.Matching colour palettes and creating gallery walls might come naturally inside your condo, but finding the perfect look for that concrete slab hanging off the side of your building can be a challenge. Which is why so many of them appear empty from street level.By nature, the majority of condo balconies are lacking pizzazz, but with some strategizing and a little TLC, you can turn your bland balcony into a year-round retreat. Just keep in mind that you should also set a budget beforehand to try to stay within.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/balcony_retreat-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/balcony_retreat.jpg"/><img src="https://strata.ca/slate-image/article-images/84/balcony_retreat.jpg" alt="balcony designs"/></picture><h2>When It's Cold Outside</h2>Our winter's bite. As the mercury plummets and the flurries begin many of us choose to abandon our balconies for the duration of the season. Who wants to spend time on your balcony when it's minus 10 degrees Celsius? Well, you might, provided that you've purchased the right heater.<a href="https://www.homedepot.ca/en/home/categories/outdoors/patio-furniture/outdoor-heating/patio-heaters" target="_blank">Patio heaters</a> come in a range of styles and sizes. As well, many are battery powered and electric. You don't need to break the bank or track down a specialty store to find one. Chances are your local hardware store will have plenty of heaters to choose from and at varying price points. As always, you&rsquo;ll want to check your condo board before making a purchase to ensure that heaters are permitted.Adding a heater to your condo balcony can enable you to enjoy morning coffee in the great outdoors 12 months of the year, and when you're finished with your balcony remodel, you'll want to maximize your time.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/Balcony_heater-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/Balcony_heater.jpg"/><img src="https://strata.ca/slate-image/article-images/84/Balcony_heater.jpg" alt="Balcony heater"/></picture><h2>Cold Feet</h2>Now to deal with that cold concrete floor. For the most cost-effective flooring, a simple outdoor rug will likely do the trick. Considering the array of options for rugs, it's also the most likely to match your desired aesthetic, and adding some texture to your balcony can improve the look. However, if you're willing to splurge, why not go for wood? <a href="https://www.homedepot.ca/en/home/categories/outdoors/patio-furniture/outdoor-heating/patio-heaters" target="_blank">Deck tiles</a> are found at a number of retailers such as Rona, Walmart and Canadian Tire and most local hardware stores. Deck tiles are relatively easy to install, cut and maneuver, enabling you to shape your flooring to fit your space. These tiles are quite durable too, so you won't be needing to replace them after a year. Just note that not all condo by-laws allow them.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/cold_feet_balcony_decktiles-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/cold_feet_balcony_decktiles.jpg"/><img src="https://strata.ca/slate-image/article-images/84/cold_feet_balcony_decktiles.jpg" alt="deck tiles"/></picture><h2>Balcony Tetris</h2>Size matters here, a lot. While some would suggest that you should buy whatever furniture suits your style and live with a cluttered balcony, that&rsquo;s not always a wise decision. Choosing large or oversized furniture will force your guests to step over your feet, or worse, lean against a rail to avoid your clunky table (that&rsquo;s not much fun when you&rsquo;re thirty storeys up.)When it comes to seating, you'll want to balance comfort, style, and durability. With a covered balcony you can open up your search to include retro furniture such as an old wooden bench, or even materials that aren&rsquo;t weather resistant. Procuring your own <a href="https://www.wayfair.ca/outdoor/cat/outdoor-pillows-cushions-c417299.html" target="_blank">pillows and cushions</a> will enable you to create a truly unique piece.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/balcony-tetris-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/balcony-tetris.jpg"/><img src="https://strata.ca/slate-image/article-images/84/balcony-tetris.jpg" alt="balcony tetris"/></picture>If all of that sounds too time consuming, there are multiple retail locations to find a complete set, whether you're seeking something modular or made of a solid frame. And if all else fails and your tiny balcony cannot accommodate a set, folding chairs and tables are a great option.<h2>Plant Life</h2>Greenery is one of the better ways to add a pop of colour to your drab balcony. Plants can be cheap, and even free with some sleuthing and solid communication skills; it&rsquo;s true, you can find plenty of people who are looking to relocate plants from their property, but you&rsquo;ll probably need to pick them up yourself.But where do you start? Which plants should you buy? Dressing your condo balcony with a mixture of evergreens and seasonal plants that you bring in during winter can really complete the look. Small potted cedars for example, can be groomed and kept small and healthy on a condo balcony with partial sun exposure. Just be sure to match your plants to their environment.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/balcony_plant_life-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/balcony_plant_life.jpg"/><img src="https://strata.ca/slate-image/article-images/84/balcony_plant_life.jpg" alt="Plant life"/></picture>A strawberry bush might flourish on an open balcony with southern exposure and die out in partial coverage or a different exposure. Try to plan your planters ahead of time, but don&rsquo;t be afraid of failing. Not everyone can wield a green thumb on their first try.<h2>Keep it Secret - Keep it Safe</h2>If you've chosen potted cedars for a touch of greenery, then you might have privacy under control. A balcony that opens to its neighbours can easily be covered by potted Cedars on either end, creating a makeshift wall between your balcony and those of your neighbours. If not, there are some creative solutions.Privacy screens are one of more common privacy remedies. They come in a variety of materials and styles and can be shaped to fit many different spaces. Of course, it&rsquo;s essential to check with your condo board beforehand to ensure that screens are permitted on balconies.In some cases, a retractable screen could be your best bet as it will enable you to close off your space and open it when needed.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/balcony_privacy_screen-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/balcony_privacy_screen.jpg"/><img src="https://strata.ca/slate-image/article-images/84/balcony_privacy_screen.jpg" alt="ikea screen"/></picture><h2>Storage</h2>One of the chief complaints among condo residents is a lack of dedicated storage space. While some condo residents do store bicycles on their balconies or have a large storage locker, that&rsquo;s not always the case. Utilizing your balcony for storage might sound like a bad idea, but it can actually work quite well provided that your furniture has a built-in storage component.By purchasing outdoor furniture with built-in storage, you add some much-needed square footage to your unit. Your winter boots or bicycle helmet, or even barbecue utensils can be safely stored in a cabinet on your balcony. This will reduce your clutter inside and also improve the look of your balcony. A win&shy;‑win.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/Balcony_storage-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/Balcony_storage.jpg"/><img src="https://strata.ca/slate-image/article-images/84/Balcony_storage.jpg" alt="balcony storage"/></picture><h2>Create Dedicated Spaces</h2>Depending on square footage, this mightn&rsquo;t be an option, however, if your balcony is a reasonable size then creating dedicated spaces can really improve your balcony vibe. Try creating space for a small reading chair with a foot stool in the corner; a loveseat or a sectional for guests or simply carve out some space for your yoga mat.Creating defined spaces will improve both the look of your balcony as well as the functionality &mdash; no furniture askew for you.This becomes infinitely more important if you have children. A picture frame and some chalkboard paint is all that&rsquo;s required to create a small learning area on your balcony. That won&rsquo;t make homeschooling any easier, but it might give you some extra breathing room.<h2>Illumination</h2>Lighting your condo balcony can be tricky, depending on whether you have an exterior outlet. Fortunately, numerous solutions are available for those without an exterior outlet.If you&rsquo;re one of the lucky few who have an exterior outlet, you might fancy a set of patio lanterns or perhaps a basic set of string lights. Those without outlets can procure a battery powered set, though, battery life is fairly limited.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/Balcony_lighting_designs-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/Balcony_lighting_designs.jpg"/><img src="https://strata.ca/slate-image/article-images/84/Balcony_lighting_designs.jpg" alt="solar power lights"/></picture>Solar powered string lights by comparison are much more efficient, and generally cost around $50. They&rsquo;re capable of lighting up an entire balcony if positioned properly and have enough juice for a lengthy nighttime gathering.Should you still desire more lighting, a Bluetooth speaker with a built-in light can be a great addition (at a neighbour-friendly volume).<h2>Add Ons</h2>Have you always wanted a water feature in your backyard but you live in a condo? While by no means ideal, there&rsquo;s no hard and fast rule stating that condo balconies cannot have a water feature; actually, there are a number that are intended for just that.Choosing a portable, battery powered fountain for your table or just to tuck in the corner will add some serious Zen to your balcony reprieve. These water features typically range between $20 and $50. Their compact size makes them perfect for balconies and adding the sound of rushing water to your own slice of life will make it easier to drift into that new novel or forget about a long day at work.<h2>Consider a Theme</h2>It&rsquo;s never a bad idea to try and match the aesthetic on your balcony to the inside of your condo. This can create a feeling of uniformity. With that being said, sometimes what you want in a balcony is an escape &mdash; and a theme can help with that.Creating a theme can be a great option if you&rsquo;re needing a break from the city but can&rsquo;t get away for a vacation. From tropical, to jungle, to desert, or Parisian, whatever your taste, giving your balcony a one-of-a-kind identity will grant you an enhanced appreciation for your concrete slab.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/Create_a_theme-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/84/Create_a_theme.jpg"/><img src="https://strata.ca/slate-image/article-images/84/Create_a_theme.jpg" alt="Create a theme"/></picture>Likewise, your theme might be a hodgepodge of colours and styles. Mixing and matching plants and furniture can also create an authentic balcony retreat, unlike any other.<h2>Final Considerations</h2>Curating a balcony retreat can dramatically improve your quality of life &mdash; more so during challenging times (such as a pandemic). Regardless of what aesthetic you choose, it&rsquo;s essential that you check with your condo board before committing to any large purchases, and don&rsquo;t spend beyond your means.As well, it&rsquo;s never a bad idea to consider how your layout and decisions might affect your neighbours. Blazing lights and a Bluetooth speaker on bust 24/7 might turn your balcony retreat into a place of great conflict!

Transform Your Condo Balcony into a Retreat

To say that Covid-19 has changed our daily routines would be putting it mildly. All of our lives have been touched by this tragedy, whether that be family members affected by the illness, or the anxiety and loneliness felt as we wait for the crisis to pass.While many businesses have been forced to shut their doors, real estate has been ruled an essential service; we all need a roof over our heads and though some buyers, sellers and renters might opt to wait out the pandemic, others have no choice but to move.We want to assure our clients that we at Strata are taking this pandemic seriously and are following all of the guidelines laid out by the municipal, provincial and federal governments.<h2>Can I view properties?</h2>Wherever possible, we&rsquo;re looking for opportunities to minimize person to person contact, without denying you access to properties.This means:Video Tours: If a virtual tour isn&rsquo;t available, we&rsquo;ll go to the condo and personally record a video or conduct a live video call walk-through with you via Facetime, Skype, Zoom, etc.In-Person Showings: For priority properties, we can conduct in-person showings. Some precautions we must take include: Traveling separately, using hand sanitizer and wipes, maintaining proper social distancing and only meeting clients who haven&rsquo;t travelled over the past 14 days and have no symptoms of illness. We will also ask that you refrain from bringing any children to showings.Narrow the Search: With our knowledge of neighbourhoods and buildings, we can help weed out the lemons and narrow in on the top contenders.Our Agents: Our active agents will not have travelled in the past 14 days, will be symptom-free and will follow strict guidelines to avoid exposure. We listen to provincial and federal updates on a daily basis and adjust our actions accordingly.<h2>COVID-19&rsquo;s Impact on the Toronto Condo Market</h2>We&rsquo;re not going to sugar coat it. Sales are 6x lower than they were a year ago in the Toronto condo market. And for the first time in about a decade, we&rsquo;ve shifted from a strong seller&rsquo;s market to a far more balanced market between buyers and sellers.If you&rsquo;re planning to sell, it might be prudent to wait until the economy starts to reopen. If you&rsquo;re planning to buy, the current market circumstances are much more favourable than pre-COVID-19, with many properties sitting idle. &lsquo;Demand&rsquo; has been artificially flattened, as many who don't need to buy are staying home.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/58/evgeni-tcherkasski-0pPyrly3H2U-unsplash5-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/58/evgeni-tcherkasski-0pPyrly3H2U-unsplash5.jpg"/><img src="https://strata.ca/slate-image/article-images/58/evgeni-tcherkasski-0pPyrly3H2U-unsplash5.jpg" alt="Russian Dolls"/></picture>The rental market has also shifted, with a significant number of former short-term (AirBnb) units pouring into the market. This has levelled the playing field between renters and landlords.It&rsquo;s too early to give a forecast on the post-COVID-19 real estate market, however, we do believe that with the emergency relief offered by the Canadian government (particularly the wage subsidy, which will keep unemployment at bay), low-interest rates and strong non-speculative demand, real estate prices will more than likely rebound in 3-6 months after the economy begins to reopen.

Covid-19’s Impact on Property Viewings and the Market

<h2>Should You Stage Your Home?</h2>Real estate has changed, and now more than ever, how well your home photographs can play a significant role in how much interest it attracts. Much like first impressions are incredibly important when forming relationships, they&rsquo;re also very important when it comes to selling property.If you want to receive maximum value for your home, you need to ensure it doesn&rsquo;t sit on the market for long &mdash; one of the best ways to do that is through staging. Though some sellers are hesitant to enlist a staging company, the benefits of doing so outweigh the costs attached.<h2>Staging Benefits Both Buyers and Sellers</h2><blockquote>Staging has without a doubt become more popular in the past decade &mdash; HGTV has likely played no small part in its increased popularity. But in truth, staging is more common today because it works.</blockquote>Staging has without a doubt become more popular in the past decade &mdash; HGTV has likely played no small part in its increased popularity. But in truth, staging is more common today because it works.When buyers enter a property for viewing or land on an online listing, the first images they see will shape their entire experience. Perhaps they crave a bedroom that doubles as an office, a small reading nook, or a workout room. Your home might be capable of delivering that, but if it&rsquo;s covered in clutter or contains oversized furniture, the buyer isn&rsquo;t going to see the full potential; something as simple as the right paint colour can transform a dark room into a bright and airy space. In short, staging can provide a window into what could be.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/49/3.jpeg (2)-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/49/3.jpeg (2).jpg"/><img src="https://strata.ca/slate-image/article-images/49/3.jpeg (2).jpg" alt="condo kitchen"/></picture><h2>Price of Staging</h2>Staging is quite common in today&rsquo;s condo market; if you look at listings for luxury condos like <a href="https://strata.ca/toronto/1-bedford-rd-one-bedford">One Bedford Condos</a> or <a href="https://strata.ca/toronto/183-wellington-st-w-residences-of-the-ritz-carlton">Ritz Carlton Condos</a>, you&rsquo;ll find that almost all units are staged. The reason for this is because having a luxury condo sit on the market for a month will result in a price decrease that will easily exceed the costs of staging.Spending money on a home that you&rsquo;ll soon be vacating might feel counterproductive, but when sellers get caught up on the price of staging services, they&rsquo;re not considering the cost of a home sitting on the market.While staging can be expensive, it leads to higher offers: A seller might spend $2,500 on staging services and end up with three offers, selling $20,000 over asking &mdash; a net gain of $17,500. By comparison, a seller might opt to not employ staging services and receive a lower offer after the home has remained on the market for a number of weeks.The costs associated with staging vary and are dependent on the size of the home. At <a href="https://strata.ca">Toronto condos for sale</a>, we provide complimentary staging for certain listings; however, we too must account for square footage. Painting and acquiring furniture for a 600 square foot condo is a very manageable project while doing the same for a 6,000 square foot unit is entirely different.To stage a smaller unit, you&rsquo;ll find companies in Toronto that will offer their services for as low as $1600, following a one-time consultation (that should cost between $100 and $200 if the stager isn&rsquo;t hired); which would be considered on the low end. When you consider that the average cost of a condo in the <a href="http://www.trebhome.com/index.php/market-news/condo-market-report" target="_blank">first quarter of 2019 was CAD 603,243</a>, paying for staging and selling the unit one month earlier would save you money compared against a mortgage payment, not to mention, yield a higher offer.<h2>Do Real Estate Agents and Landlords Stage Rental Units?</h2>In my experience, it&rsquo;s rare: I&rsquo;ve seen a rental unit staged before, but it was a luxury suite listed at $8,000 per month. In practical terms, rental units usually don&rsquo;t warrant staging because the rental market is so competitive, and units that show poorly will usually rent within a couple of days. As well, any gains from increased rent probably won&rsquo;t cover the minimum $1600 for staging services.<h2>Staging is Essential in A Slow Market</h2>As mentioned, the internet has brought change to the real estate industry, and it&rsquo;s essential to have a home that &ldquo;shows well&rdquo;. By featuring a professionally staged unit in an online listing, you increase the chances of a buyer taking an interest in the property and feeling the need to move quickly with a competitive offer.In the end, the decision to stage is made by the homeowner, but if you&rsquo;re wondering whether or not your home needs to be staged, it&rsquo;s never a bad idea to ask your realtor.

Does Staging Benefit the Buyer or the Seller?

$799,000 to live in a 1913 printing factory &mdash; well, on top of one. <a href="https://strata.ca/toronto/201-carlaw-ave-the-printing-factory">The Printing Factory</a> is a very desirable loft residence that&rsquo;s divided into hard and soft lofts: <a href="https://strata.ca/toronto/the-printing-factory-201-carlaw-ave/unit-414-e4573774">Unit 414</a> is 2 bedroom 1 bathroom industrial loft located in the newly constructed portion of the building.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/02_ 201 Carlaw Ave - Unit 414-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/02_ 201 Carlaw Ave - Unit 414.jpeg"/><img src="https://strata.ca/slate-image/article-images/48/02_ 201 Carlaw Ave - Unit 414.jpeg" alt="Living room - The Printing Factory Lofts, 201 Carlaw Ave, Toronto, Unit 414"/></picture>The corner unit features exposed concrete ceilings and columns, exposed ductwork, and polished concrete floors.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/03_ 201 Carlaw Ave - Unit 414-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/03_ 201 Carlaw Ave - Unit 414.jpeg"/><img src="https://strata.ca/slate-image/article-images/48/03_ 201 Carlaw Ave - Unit 414.jpeg" alt="Kitchen - The Printing Factory Lofts, 201 Carlaw Ave, Toronto, Unit 414"/></picture>Open concept kitchen has granite countertops and modern stainless steel appliances.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/04_ 201 Carlaw Ave - Unit 414-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/04_ 201 Carlaw Ave - Unit 414.jpeg"/><img src="https://strata.ca/slate-image/article-images/48/04_ 201 Carlaw Ave - Unit 414.jpeg" alt="Bedroom - The Printing Factory Lofts, 201 Carlaw Ave, Toronto, Unit 414"/></picture>Both bedrooms are bright and reasonably sized: A lack of an ensuite bathroom in the master might be a disappointment for some buyers.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/05_ 201 Carlaw Ave - Unit 414-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/05_ 201 Carlaw Ave - Unit 414.jpeg"/><img src="https://strata.ca/slate-image/article-images/48/05_ 201 Carlaw Ave - Unit 414.jpeg" alt="Bathroom - The Printing Factory Lofts, 201 Carlaw Ave, Toronto, Unit 414"/></picture>A functional 4-piece bathroom is located off of the living room. Camera and tripod in the mirror &mdash; design element or photography fail? You decide.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/06_ 201 Carlaw Ave - Unit 414-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/06_ 201 Carlaw Ave - Unit 414.jpeg"/><img src="https://strata.ca/slate-image/article-images/48/06_ 201 Carlaw Ave - Unit 414.jpeg" alt="Balcony view - The Printing Factory Lofts, 201 Carlaw Ave, Toronto, Unit 414"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/07_ 201 Carlaw Ave - Unit 414-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/48/07_ 201 Carlaw Ave - Unit 414.jpeg"/><img src="https://strata.ca/slate-image/article-images/48/07_ 201 Carlaw Ave - Unit 414.jpeg" alt="Balcony - The Printing Factory Lofts, 201 Carlaw Ave, Toronto, Unit 414"/></picture>A 400 square foot wrap around balcony dramatically extends the living space and is great for entertaining.Jump on it if: You&rsquo;re looking for an affordable 2 bedroom loft in East End Toronto.Appreciate form a distance if: One bathroom isn&rsquo;t going to cut it.<h3>The Facts:</h3><ul><li>2 Bedrooms</li><li>1 Bathroom</li><li>892 Square Feet</li><li>Fees: $562/mth</li><li>Fees Cover: Water, Parking, Building Insurance</li><li>Neighbourhood: <a href="https://strata.ca/toronto/east-end/leslieville-south-riverdale">Leslieville - South Riverdale</a></li></ul>

Listing of the Week: The Printing Factory Lofts

<a href="https://strata.ca/toronto/915-king-st-w-massey-harris-lofts">Massey Harris Lofts</a> is one of the oldest inhabited residences in Toronto &mdash; though the building was updated when repurposed for a loft, the original structure dates back to the 1880s. <a href="https://strata.ca/toronto/massey-harris-lofts-915-king-st-w/unit-ph506-c4563441">PH506</a> is a 1 bedroom + den unit spanning 2 storeys and just over 900 square feet. The $899,000 price tag puts it at $947/sqft, below the avg price per square foot for units in the building.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/02 image - Massey Harris Lofts - unit PH 506-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/02 image - Massey Harris Lofts - unit PH 506.jpeg"/><img src="https://strata.ca/slate-image/article-images/47/02 image - Massey Harris Lofts - unit PH 506.jpeg" alt="Kitchen - 915 King St W, Toronto, unit Ph506 for sale"/></picture>The kitchen features granite countertops and stainless steel appliances. An efficient layout doesn&rsquo;t mask the lack of counterspace.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/03 image - Massey Harris Lofts - unit PH 506-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/03 image - Massey Harris Lofts - unit PH 506.jpeg"/><img src="https://strata.ca/slate-image/article-images/47/03 image - Massey Harris Lofts - unit PH 506.jpeg" alt="Living room - 915 King St W, Toronto, unit Ph506 for sale"/></picture>The living room is bright and airy, with 18 foot ceilings, wall to wall windows, and a walk out to a private balcony.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/04 image - Massey Harris Lofts - unit PH 506-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/04 image - Massey Harris Lofts - unit PH 506.jpeg"/><img src="https://strata.ca/slate-image/article-images/47/04 image - Massey Harris Lofts - unit PH 506.jpeg" alt="Den - 915 King St W, Toronto, unit Ph506 for sale"/></picture>A small den is located on the main floor and would work well as an office.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/05 image - Massey Harris Lofts - unit PH 506-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/05 image - Massey Harris Lofts - unit PH 506.jpeg"/><img src="https://strata.ca/slate-image/article-images/47/05 image - Massey Harris Lofts - unit PH 506.jpeg" alt="Master bedroom - 915 King St W, Toronto, unit Ph506 for sale"/></picture>The master bedroom is large and comes with plenty of closet space.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/06 image - Massey Harris Lofts - unit PH 506-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/06 image - Massey Harris Lofts - unit PH 506.jpeg"/><img src="https://strata.ca/slate-image/article-images/47/06 image - Massey Harris Lofts - unit PH 506.jpeg" alt="Bedroom - 915 King St W, Toronto, unit Ph506 for sale"/></picture>The soaring mezzanine area is a major plus; the bathtub in the bedroom&hellip; not so much.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/07 image - Massey Harris Lofts - unit PH 506-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/47/07 image - Massey Harris Lofts - unit PH 506.jpeg"/><img src="https://strata.ca/slate-image/article-images/47/07 image - Massey Harris Lofts - unit PH 506.jpeg" alt="Washroom - 915 King St W, Toronto, unit Ph506 for sale"/></picture>Master ensuite has a large rain shower and modern vanity.Jump on it if: You&rsquo;re a single professional or couple who likes to dine-out.Appreciate from a distance if: You like to bathe in private.<h3>The Facts:</h3><ul><li>1 Bedroom + Den</li><li>2 Bathrooms</li><li>900 - 999 Square Feet</li><li>Fees: $707/mth</li><li>Fees Cover: Heat, Air Conditioning, Water, Building Insurance</li><li>Neighbourhood: <a href="https://strata.ca/toronto/downtown/king-west">King West</a></li></ul>

Listing of the Week: Massey Harris Lofts

The mountain paradise of <a href="https://strata.ca/toronto/180-university-ave-shangri-la">Shangri-La</a> might be a work of fiction, but the condo is the real deal and among the most luxurious residences in Toronto. <a href="https://strata.ca/toronto/shangri-la-180-university-ave/unit-3705-c4559361">Unit 3705</a> is a stunning corner suite with an equally stunning price tag of $2,188,000. As both a hotel and condominium, the building comes equipped with an array of desirable amenities; ideal for anybody who craves being pampered at home.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/1 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/1 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/1 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Kitchen"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/2 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/2 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/2 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Kitchen Table"/></picture>The kitchen is open to the living space and features marble countertops, integrated stainless steel appliances, a wine cooler, and a large kitchen island and breakfast bar.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/3 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/3 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/3 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Living Room"/></picture>Living room has ample space for a dining table &mdash; which includes panoramic views of downtown Toronto.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/4 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/4 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/4 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Bedroom 1"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/5 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/5 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/5 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Bedroom 2"/></picture>The 2 bedroom + den unit has a sprawling master suite and a reasonably sized second bedroom.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/6 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/6 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/6 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Den"/></picture>The den is large enough for an office &mdash; or 2 uncomfortable chairs and a coffee table.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/7 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/7 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/7 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Washroom"/></picture>The unit has 3 bathrooms and a lavish ensuite with walk-in closet that could easily be mistaken for a spa.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/8 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/8 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/8 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Balcony"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/9 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/9 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/9 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - View"/></picture>The balcony is on the small side considering the unit&rsquo;s square footage, but the views are nothing to scoff at.Jump on it if: You&rsquo;ve no issues with paying a second mortgage in maintenance fees.Appreciate from a distance if: You&rsquo;re considering purchasing a single family home &mdash; at this price point you could land a beautifully renovated house in downtown Toronto.<h3>The Facts:</h3><ul><li>2 Bedroom + Den</li><li>3 Bathrooms</li><li>1746 square feet</li><li>Fees: $1,769/mth</li><li>Fees cover: Heat, Air Conditioning, Water, Parking, Building Insurance</li><li>Neighbourhood: <a href="https://strata.ca/toronto/downtown/queen-west/condos-for-sale">Queen West</a></li></ul>

Listing of the Week: Shangri-La

<a href="https://strata.ca/toronto/wrigley-lofts-245-carlaw-ave/unit-204-e4552972">Unit 204</a> at the <a href="https://strata.ca/toronto/245-carlaw-ave-wrigley-lofts">Wrigley Lofts</a> is one of the most spacious and authentically rustic, true conversion lofts on the market today. This 1639 square foot one-bedroom and one-bath loft is also listed below the building average and neighbourhood average, at $717/sqft; however, the sheer size of the unit results in a $1,175,000 price tag; some buyers would expect at least two bedrooms at that price point.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/living-room-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/living-room.jpeg"/><img src="https://strata.ca/slate-image/article-images/45/living-room.jpeg" alt="245 Carlaw, Unit 204 - Living Room"/></picture>The floor plan is entirely open concept and the unit features plenty of authentic touches &mdash; warehouse style block windows, concrete columns, exposed piping and ductwork, and 13 foot ceilings. While some buyers might jump at this unit for the airy feel, couples might struggle with the lack of a noise barrier if there&rsquo;s a night owl in the mix.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/kitchen-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/kitchen.jpeg"/><img src="https://strata.ca/slate-image/article-images/45/kitchen.jpeg" alt="245 Carlaw, Unit 204 - Kitchen"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/deposit-room-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/deposit-room.jpeg"/><img src="https://strata.ca/slate-image/article-images/45/deposit-room.jpeg" alt="245 Carlaw, Unit 204 - Laundry"/></picture>The modern kitchen comes equipped with stainless steel appliances, granite countertops, a breakfast bar, and a rare walk-in pantry with ensuite laundry.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/bathroom-washroom-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/bathroom-washroom.jpeg"/><img src="https://strata.ca/slate-image/article-images/45/bathroom-washroom.jpeg" alt="245 Carlaw, Unit 204 - Bathroom"/></picture>Love turquoise? Not so much? The bathroom is large and offers ample storage, but is likely in need of a facelift.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/bedroom-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/45/bedroom.jpeg"/><img src="https://strata.ca/slate-image/article-images/45/bedroom.jpeg" alt="245 Carlaw, Unit 204 - Bedroom"/></picture>The bedroom is spacious enough for a dresser and a desk; the walk-in closet can accommodate even the most accomplished shopper.Jump on it if: you crave an authentic loft and don&rsquo;t mind a good echo.Appreciate from a distance if: you need more than one bedroom or more separation in the living space.<h3>The Facts:</h3><ul><li>1 Bedroom</li><li>1 Bathroom</li><li>1,639 Square Feet</li><li>Fees:$952/mth</li><li>Maintenance fees cover: Heat, Water, Parking, Building Insurance.</li><li>Neighbourhood: <a href="https://strata.ca/toronto/east-end/leslieville-south-riverdale">Leslieville &amp; South Riverdale</a></li></ul>

Listing of the Week: The Wrigley Lofts

The downtown Toronto area is home to just under 1,000 condos &mdash; by the time this list is posted there will probably be a few more. And as prices continue to rise, many of us are looking at the most affordable options out there. Here&rsquo;s a list of our top ten.Are you going to see the likes of <a href="https://strata.ca/toronto/180-university-ave-shangri-la">The Shangri La Residences</a> or <a href="https://strata.ca/toronto/183-wellington-st-w-residences-of-the-ritz-carlton">The Ritz Carlton</a> on this list? Absolutely not, but you won&rsquo;t see any cardboard boxes or dilapidated low-rises here either. We&rsquo;ve put together a list of buildings that are both reputable and affordable: with that in mind, here are the cheapest (but not cheap quality) condos in the downtown Toronto area based on the average cost per square foot.<h2>How much do condos cost on average?</h2>As of this writing (January 2020), the average cost of a condo in the downtown area is $1084 per square foot. That translates to about $580,000 for your average 1 bedroom, $640,000 for your average 1 bedroom and den unit and nearly $800,000 for your average 2 bedroom.<blockquote>Many of us are priced out of the market at those numbers. And as more would-be buyers are pushed into the rental market, we&rsquo;re seeing rents reach record highs.</blockquote>For those comfortable with the middle ground, and open to a reputable &ldquo;no frills&rdquo; condo living experience, the list below might be worth shortlisting.<h2>Criteria we used</h2>I should point out that these weren&rsquo;t the absolute cheapest condos in Toronto in terms of dollars: We weeded out the ones that for one reason or another should be avoided altogether (poor upkeep, dramatically higher than average maintenance fees, etc). Or in other words, any condo we wouldn't personally recommend to a client was removed from the list.<h2>Trends among condos on the list</h2>What most of these condos have in common is age. They tend to be built in the early 90&rsquo;s, where the trend among developers was to build larger living spaces (e.g. 700 square foot 1 bedroom units &mdash; whereas today, developers are managing to squeeze 2 bedrooms and a den into a 700 square foot living space).One perk many of these buildings share is that they include all utilities in the maintenance fees. This is another benefit to the buildings being older, as new condos must meter hydro separately by law (which has been the case for a bit over a decade now). However, a number of these buildings do have maintenance fees above average. When weighed against the savings on your mortgage though, the higher fees are well compensated for.Another trend you&rsquo;ll find in these buildings is that they tend to feature a blend of tastefully renovated units and very dated, or &ldquo;original&rdquo; units. If you're open to renovations and looking for a bargain, or you&rsquo;ve binge-watched every HGTV reno show and you&rsquo;re ready to try your hand at it, these are buildings worth considering.And finally, we did disclose the average cost per square foot, but those figures will become dated soon enough. However, as the cost per square foot increases among these buildings, they will undoubtedly increase among all other Toronto condos.The most important detail to note is that most of these are between 20% to 35% &lsquo;below&rsquo; the average cost per square foot in the downtown core &mdash; and that gap will remain relatively consistent, even as prices change.And without further adieu, the cheapest condos in the downtown Toronto area ranked from the highest to the lowest:<h2>Top 10 Cheapest Condos in Toronto </h2><h2>10. Minto Plaza - 38 Elm Street</h2>Average cost per square foot: $812<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/10-minto-plaza-condos-38-elm-street-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/10-minto-plaza-condos-38-elm-street.jpg"/><img src="https://strata.ca/slate-image/article-images/39/10-minto-plaza-condos-38-elm-street.jpg" alt="The Minto Plaza Condos at 38 Elm Street, Toronto"/></picture><a href="https://strata.ca/toronto/38-elm-st-minto-plaza">38 Elm Street</a> is an older building on one of the most desirable little streets in the downtown core. Built in 1990 and with 433 units, it&rsquo;s not the right condo for anyone looking for a new and glossy boutique building with a sense of exclusivity, however if you're looking for value, units are currently selling in the low $800&rsquo;s per square foot at 38 Elm St, while most nearby Bay St condos are selling closer to $1,100.One notable strike are the high maintenance fees, at $.90 cents per square foot (average downtown is about $.65 to $.70 cents). But there&rsquo;s one notable distinction: unlike most condos, the maintenance fees include all utilities, making them more reasonable but still on the higher end.<h2>9. 500 Queens Quay West</h2>Average cost per square foot: $702<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_500QueensQuayWest_500_Queens_Quay_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_500QueensQuayWest_500_Queens_Quay_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/01_500QueensQuayWest_500_Queens_Quay_Condos_Exterior-480-2.jpg" alt="500 Queens Quay West Condos, Toronto"/></picture><a href="https://strata.ca/toronto/500-queens-quay-w-500-queens-quay-west">500 Queens Quay West</a> is one of my favourite condos in the Waterfront area. It was completed in 2000, houses only 187 units and is a medium-rise at only 11 storeys tall, giving it a more exclusive and community-oriented vibe.The maintenance fees are also abnormally low at 500 Queens Quay, at only $.60 cents per square foot (hydro is paid separately). Low condo fees are always a positive reflection on both the building management and condo board.If you're on a budget and interested in the Waterfront, put this building on your shortlist. However, expect to pay a much more average cost per square foot for renovated units facing the water.<h2>8. The Star of Downtown - 225 Wellesley St E </h2>Average cost per square foot: $751<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_225WellesleyStreetEast_Star_of_Downtown_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_225WellesleyStreetEast_Star_of_Downtown_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/01_225WellesleyStreetEast_Star_of_Downtown_Exterior-480-2.jpg" alt="The Star of Downtown Condos at 225 Wellesley St E, Toronto"/></picture><a href="https://strata.ca/toronto/225-wellesley-st-e-the-star-of-downtown">225 Wellesley St East</a> is a popular mid-rise condo &mdash; with a boastful name (or some might say tacky). Built in 2009, it houses 184 units and is only 12 storeys tall. Maintenance fees are just slightly on the higher end, at $.74 cents per square foot.Depending who you ask, some would describe 225 Wellesley St East as being in the highly desirable Cabbagetown area, and others would say the less desirable St. Jamestown. This pocket is still a little rough around the edges, which is likely turning off some buyers &mdash; ironically, a number of luxury buildings have gone up in this neighbourhood in recent years. The condo is located at the south end of a number of densely clustered apartment buildings.Otherwise, 225 Wellesley St East features all the amenities one could reasonably want in a condo and is a short walk to many desirable parts of the city.<h2>7. St. James Square - 95 Lombard St</h2>Average cost per square foot: $708<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_95LombardStreet_Saint_James_Square_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_95LombardStreet_Saint_James_Square_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/00_95LombardStreet_Saint_James_Square_Condos_Exterior-480-2.jpg" alt="St. James Square Condos at 95 Lombard St, Toronto"/></picture><a href="https://strata.ca/toronto/95-lombard-st-st-james-square">95 Lombard St</a> is a relatively nondescript medium-rise condo on Lombard &mdash; one of my favourite little streets in the downtown core, sandwiched between Richmond and Adelaide.The building was completed in 1990, houses only 65 units and is 14 storeys tall. Turnover is very low, averaging about a sale every two months (or six per year).If you're looking for excellent value in the very low $700&rsquo;s per square foot, in one of the most desirable pockets in the downtown core (a stones throw from the St. Lawrence Market), 95 Lombard St is worth shortlisting: if you&rsquo;re not looking for that, you might be reading the wrong article.However, the maintenance fees are $1.01 per square foot, which is definitely on the higher end. They do include all utilities though, making them more reasonable, but still notably higher than average. What you&rsquo;d save on your mortgage would still offset the higher than average fees many times over.<h2>6. Horizon on Bay - 633 Bay St </h2>Average cost per square foot: $761<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/633-Bay-Street-Toronto-Horizon-on-Bay-Condos-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/633-Bay-Street-Toronto-Horizon-on-Bay-Condos.jpg"/><img src="https://strata.ca/slate-image/article-images/39/633-Bay-Street-Toronto-Horizon-on-Bay-Condos.jpg" alt="Horizon on Bay Condos at 633 Bay St, Toronto"/></picture>Tridel must have pulled some strings with the city because the <a href="https://strata.ca/toronto/633-bay-st-horizon-on-bay">Horizon on Bay</a> really should&rsquo;ve been called the Horizon on Edward &mdash; just doesn&rsquo;t have quite the same ring to it, does it? While the west side of the building fronts onto Bay St, the south side and lobby are very clearly fronting on Edward St &mdash; a quaint little street sandwiched between Bay and Yonge.With 475 units, standing 26 storeys tall and built in 1987, 633 Bay St is not a condo many would pay any attention to or even notice, but the suite sizes are hard to ignore: Given the age of the building, the layouts are far more generous in size than is typical in newer buildings, and the building has been impeccably maintained.Maintenance fees at the Horizon on Bay are also very reasonable, at $.71 cents per square foot, and unlike most condos, include all utilities. And good luck finding any other condo on Bay St with units selling in the mid $700&rsquo;s per square foot.One gripe I have with 633 Bay St is that it&rsquo;s one of a small handful of condos that restrict pets altogether. Although rules change&hellip; hopefully, they&rsquo;ll come to their senses.<h2>5. The Gallery - 25 Grenville</h2>Average cost per square foot: $749<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_25GrenvilleStreet_Gallery_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_25GrenvilleStreet_Gallery_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/00_25GrenvilleStreet_Gallery_Condos_Exterior-480-2.jpg" alt="The Gallery Condos at 25 Grenville St, Toronto"/></picture>Built in 1990, <a href="https://strata.ca/toronto/25-grenville-st-the-gallery">25 Grenville</a> houses 200 units over 26 storeys and is located just north of College St, between Yonge and Bay.I almost didn&rsquo;t include this condo on the list as the maintenance fees are a staggering $1.10 per square foot... almost $.50 cents above the average in the city. However, they do include hydro, which helps (although they&rsquo;re still incredibly high), and 25 Grenville is located in a highly desirable pocket of the city, where the average neighbouring condo is selling at about $175 per square foot higher.In the end, I included it because when you&rsquo;re spending $175 per square foot less than average, you can deal with higher than average maintenance fees. They&rsquo;re well compensated for.<h2>4. Empire Plaza - 33 University Ave</h2>Average cost per square foot: $724<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_33UniversityAvenue_Empire_Plaza_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_33UniversityAvenue_Empire_Plaza_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/00_33UniversityAvenue_Empire_Plaza_Condos_Exterior-480-2.jpg" alt="Empire Plaza Condos at 33 University Ave, Toronto"/></picture><a href="https://strata.ca/toronto/33-university-ave-empire-plaza">33 University Ave</a> is one of the highest demand condos on this list. Located at University and Wellington, the building is in one of the most desirable pockets of the city, where the cost of neighbouring condos is in the mid $900&rsquo;s per square foot.33 University Ave has low turnover (only 6 sales over the past year) and is a smaller high rise, with only 224 units over 28 storeys &mdash; that&rsquo;s about half the number of units you&rsquo;d find in a newer condo of a similar height. The condo was completed in 1990.Condo fees are among the lowest on this list, with all utilities included at only $.66 cents per square foot.The only caveat at 33 University Ave is that while the cost per square foot is very low, the unit sizes are quite large. So, while you&rsquo;ll get a bargain in this building on a per square foot basis, units are still selling between about $650,000 up to just above a million. If that&rsquo;s within your budget and you&rsquo;re looking for a lot of space, this is a building worth shortlisting.<h2>3. TO Condominiums - 117 Gerrard St East</h2>Average cost per square foot: $734<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_117GerrardStreetEast_TO_Condominiums_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_117GerrardStreetEast_TO_Condominiums_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/01_117GerrardStreetEast_TO_Condominiums_Exterior-480-2.jpg" alt="TO Condominiums at 117 Gerrard St East, Toronto"/></picture><a href="https://strata.ca/toronto/117-gerrard-st-e-to-condominiums">117 Gerrard St East</a> isn&rsquo;t going to win any beauty pageants or most creative name contests, however, this medium-rise has just 156 units and more than compensates with a cost per square foot in the mid/low $700's.Built in 1989, it&rsquo;s surprising to see that the building houses many smaller units, of approximately the same size as you&rsquo;d find in newer buildings today.The one (common) strike against 117 Gerrard St East are the high condo fees. They do include all utilities, but at $.90 cents per square foot, they&rsquo;re still quite a bit higher than is average.<h2>2. L&rsquo;Esprit Residences - 15 Maitland Place</h2>Average cost per square foot: $688<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_60HomewoodAvenue_L_Esprit_Residences_ExteriorSky-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_60HomewoodAvenue_L_Esprit_Residences_ExteriorSky-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/01_60HomewoodAvenue_L_Esprit_Residences_ExteriorSky-480-2.jpg" alt="L&rsquo;Esprit Residences at 15 Maitland Place, Toronto"/></picture><a href="https://strata.ca/toronto/60-homewood-ave-lesprit-residences">15 Maitland Place</a>, like many condos on this list, isn&rsquo;t a beauty but makes up for it with the value it offers. Completed in 1990, 15 Maitland Place is one of the first condos to be built in the LGBTQ neighbourhood.With 409 units, turnover is quite frequent, with 19 units selling just over the past 12 months alone. And lately, units have been selling a bit above the list price on average, which isn&rsquo;t much of a surprise as you can&rsquo;t buy in the high $600&rsquo;s anywhere else in this area (or the city).Maintenance fees are higher than average at $.86 cents per square foot, but as is common in buildings of his age, they include all utilities, making them quite reasonable at 15 Maitland Place.<h2>1. St. Lawrence on the Park - 65 Scadding Ave </h2>Average cost per square foot: $725<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_65ScaddingAvenue_Saint_Lawrence_on_Park_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_65ScaddingAvenue_Saint_Lawrence_on_Park_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/00_65ScaddingAvenue_Saint_Lawrence_on_Park_Condos_Exterior-480-2.jpg" alt="St. Lawrence on the Park Condos at 65 Scadding Ave, Toronto"/></picture><a href="https://strata.ca/toronto/65-scadding-ave-st-lawrence-on-the-park">65 Scadding</a> takes the first spot on this list as the cheapest condo in the downtown Toronto area. For a mid-rise built in 1988, 65 Scadding has aged well and beyond taking first place, is also one of the highest demand condos on this list. Sandwiched between the Distillery District and the St. Lawrence Market, the location couldn't be more desirable. Feel free to try and find anything else in the area for the low $700&rsquo;s per square foot &mdash; spoiler alert, you won&rsquo;t.Like the majority of condos on this list, at 65 Scadding you&rsquo;re going to find larger than average unit sizes and a blend of some beautifully renovated units, and others in their original (very dated) condition.Turnover is a bit on the lower end for a building of this size, with only 14 units having sold over the past 12 months. With 249 units, about a sale per month is an impressive number and speaks to the general level of contentment among residents.Maintenance fees are a very average $.69 cents per square foot, with hydro paid separately.I hope you enjoyed this article! If you got this far, you might also enjoy our article on the most affordable lofts in Toronto.<a href="https://strata.ca/blog/the-most-affordable-lofts-in-toronto-our-top-picks"> Check it out here.</a>

The Cheapest Condos in Toronto in 2020 - Our Top Picks

<h2>The King Street Pilot Project</h2>The King Street Pilot Project has been&hellip; shall we say, controversial. Many TTC riders have lauded the project for dramatically increasing the reliability of King streetcars &mdash; while others express doubt that the project is actually doing anything positive. However, the increase in daily riders from 72,000 to 84,000 is evidence of a positive trend.<blockquote>all indications are that it will increase the value of condos on or near King Street.</blockquote> Of course, these numbers mean little to driver&rsquo;s who commute in the area and are stuck in traffic, and business owners who claim the project is hurting their sales; there are even a number of restaurants such as Pearl King, which have closed their doors in the wake of the King Street Pilot Project, laying at least some of the blame on the project itself for reducing traffic on the street.Many would argue however, that Pearl King had it coming, regardless of the Pilot Project, and that the drivers are experiencing the smallest increase (less than 2 minutes during rush hour) in traffic.On April 16th, 2019, Toronto City Council voted to make the project permanent &mdash; and though some might not welcome this announcement, it&rsquo;s absolutely essential that a growing city continues to improve public transit and encourages more people to rely on it. Reactions have varied from overjoyed to defeated, but overall, most see this as a positive for TTC riders, businesses, and the city in general. Drivers should be among those in the overjoyed camp, as the improved streetcar transportation along King St will only discourage more Torontonians from buying/leasing cars and further congesting the roads.One thing that isn&rsquo;t being discussed is how this will affect the Toronto condo market now that the project is permanent, which is surprising because all indications are that it will increase the value of condos on or near King Street; though some condo residents in the area may drive to work, it&rsquo;s more likely that residents who choose to live in this area rely on the TTC for commuting.<h2>The Relationship Between Transit Lines and Condo Prices</h2>The pilot project made King Street a more walkable, pedestrian friendly street. Pedestrians no longer need to raise their voices to compete with the volume of loud combustion engines &mdash; they only need to compete with the electric humming of streetcars.For years, TTC riders have knocked the King streetcar for long wait times &mdash; depending on the time of day, you might have been able to outwalk it. But by diverting traffic and providing a protected lane for passengers to board, King streetcars are now a viable choice for commuters.There&rsquo;s a reason developers flock to scoop up property near transit lines: one only needs to examine the flurry of developments that have followed in the wake of the Eglinton Crosstown LRT. Though the King Street Project is improving existing transit lines as opposed to creating new lines, this news is likely to leave developers and investors alike feeling giddy.Considering that the project extends from Jarvis all the way to Bathurst, there are several neighbourhoods that could see a bump in property values. And given how successful the pilot was, Toronto City Council is already considering other areas in the city. It remains to be seen where the next pilot project will take place, but you can bet that buyers, sellers, and investors will be keeping an eye out.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/34/map-of-king-street-pilot-project-in-toronto-strata.ca-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/34/map-of-king-street-pilot-project-in-toronto-strata.ca.jpg"/><img src="https://strata.ca/slate-image/article-images/34/map-of-king-street-pilot-project-in-toronto-strata.ca.jpg" alt="Map of the King Street Transit Pilot in Toronto by Strata.ca"/></picture><h2>List of Condos Within the King Street Pilot Project</h2>- <a href="https://strata.ca/toronto/1-king-st-w-one-king-west-hotel-residence">One King West Hotel &amp; Residence</a> - 1 King St W- <a href="https://strata.ca/toronto/7-king-st-e-the-metropole-condos">The Metropole</a> - 7 King St E- <a href="https://strata.ca/toronto/37-king-st-e-22-leader-ln-king-edward-private-residences">King Edward Private Residences</a> - 37 King St E- <a href="https://strata.ca/toronto/92-king-st-e-king-plaza">King Plaza</a> - 92 King St E- <a href="https://strata.ca/toronto/150-king-st-w-mirvish-gehry-condos-toronto">Mirvish + Gehry Condos Toronto</a> - 150 King St W- <a href="https://strata.ca/toronto/224-king-st-w-theatre-park">Theatre Park</a> - 224 King St W- <a href="https://strata.ca/toronto/355-king-st-w-115-125-blue-jays-way-king-blue-condos">King Blue</a> - 355 King St W- <a href="https://strata.ca/toronto/357-king-st-w-357-king-condos">357 King Condos</a> - 357 King St W- <a href="https://strata.ca/toronto/375-king-st-w-m5v-condos">M5V Condos</a> - 375 King St W- <a href="https://strata.ca/toronto/393-king-st-w-the-393-on-king">The 393 On King</a> - 393 King St W- <a href="https://strata.ca/toronto/401-king-st-w-401-king-street-condos">401 King Street Condos</a> - 401 King St W- <a href="https://strata.ca/toronto/438-king-st-w-the-hudson">The Hudson</a> - 438 King St W- <a href="https://strata.ca/toronto/478-king-st-w-victory-lofts">Victory Lofts</a> - 478 King St W- <a href="https://strata.ca/toronto/560-king-st-w-fashion-house-condo">Fashion House Condo</a> - 560 King St W- <a href="https://strata.ca/toronto/620-king-st-w-kingly-condos">Kingly Condos</a> - 620 King St W- <a href="https://strata.ca/toronto/629-king-st-w-thompson-residences">Thompson Residences</a> - 629 King St W- <a href="https://strata.ca/toronto/650-king-st-w-six50-king">Six50 King</a> - 650 King St W

Pilot No More: How The King Street Project Will Impact Property Values

Luxury Condos in Toronto - Our Top Picks!

If you're more interested in the loft variety of condo but don't want to break the bank, there are still some more affordable options out there for you in Toronto.Of course, &lsquo;affordability&rsquo; is subjective for all of us... and in general, lofts (particularly conversion or &lsquo;hard&rsquo; lofts) tend to be more expensive than traditional condos.However the lofts noted below are certainly priced below the average cost of a downtown/midtown loft.<blockquote>There are of course reasons why these are the most affordable lofts; however they are all reputable developments and have their own unique bragging rights.</blockquote>I was initially going to title this article the &quot;cheapest lofts in Toronto&quot;. The word &quot;cheap&quot; however, doesn't do these lofts justice. They are not the tired and dilapidated homes the word &quot;cheap&quot; would imply.For many, this list consists of some strong middle ground options many of our clients consider &mdash; particularly those who want to stick to a tighter budget.Are you going to see the likes of <a href="https://strata.ca/toronto/993-queen-st-w-the-candy-factory-lofts">The Candy Factory</a> here? Probably not&hellip;The most expensive lofts tend to be the ones that check off a lot of &lsquo;high demand&rsquo; boxes, such as: prime location, true conversion, exposed wooden beams, exposed brick, warehouse style windows, low to mid-rise building and lower than average maintenance fees.Of course, very few buildings have all of these things. And the ones that do sell for quite a premium.Despite that, we at Strata.ca take long term client satisfaction very seriously.In an effort to advocate for only the most reputable lofts, we share a list of buildings we consistently advise our clients to avoid, for various reasons (lawsuit, special assessment, blacklisted by CMHC, shoddy developer etc) &mdash; nothing on that list is here of course.We didn&rsquo;t get into any specific cost data, as this list would quickly become dated.However on the whole, these lofts are between 10% - 20% cheaper than most. If you would like cost data, simply click on the building names below.So let&rsquo;s get to it!<h2>Here are some of our top affordable lofts in Toronto:</h2><a href="https://strata.ca/toronto/797-don-mills-rd-tribeca">Tribeca Lofts</a> - 797 Don Mills RoadAlthough not the most beautiful loft conversion in the city, the Tribeca Lofts are well located (near Yonge &amp; Eglinton) and very affordable.You might not have shops, theatres and restaurants at your doorstep, but you get excellent value, some stunning exposures of the city and foliage, and easy access to the DVP. Condo fees are very reasonable.<a href="https://strata.ca/toronto/1100-lansdowne-ave-foundry-lofts">The Foundry Lofts</a> &ndash; 1100 Lansdowne AvenueThe Foundry Lofts are a stunning authentic conversion of a 19th century train factory, part of an industrial complex built by The Canada Foundry Corporation.The lofts boast incredible 20-foot ceilings, hardwood floors, exposed brick, and plenty of natural light from warehouse windows. The building has only 3 storeys, 104 units and incredibly low fees.Turn-over is very low here, which speaks to the pride of ownership in the building. Despite all that, it&rsquo;s incredibly affordable &mdash; and that is all due to location, which isn&rsquo;t bad by any stretch, and is still growing. If this loft were in the downtown core, it would be among the most expensive.<a href="https://strata.ca/toronto/121-prescott-ave-stockyard-lofts">Stockyard Lofts</a> &ndash; 121 Prescott AvenueThe Stockyard Lofts (formerly Studio One Lofts) is one of the smallest conversions in the city, with only 27 units and 3 storeys.While expensive for a &lsquo;condo&rsquo; in the Weston-Pelham Park neighbourhood (remember lofts are technically condos), it&rsquo;s very affordable for a hard loft and one of a very small handful in the area.<a href="https://strata.ca/toronto/214-main-st-upper-beaches-lofts">Upper Beaches Lofts</a> &ndash; 214 Main StreetThe Upper Beaches Lofts has an archetypal loft exterior and is in a decent location. Originally a fish market, then a banquet hall, the building now offers 16 unique suites, which means very low turnover (or availability) unfortunately.Condo fees are quite low to average.<a href="https://strata.ca/toronto/1001-roselawn-ave-forest-hill-lofts">Forest Hill Lofts</a> &ndash; 1001 Roselawn AvenueLet&rsquo;s start by addressing the elephant in the room. Forest Hill&hellip; Really? We understand that Roselawn Avenue crosses &lsquo;through&rsquo; Forest Hill&hellip; Not sure that qualifies &lsquo;all&rsquo; of Roselawn Avenue as Forest Hill though.Petty criticisms aside, this is a great conversion with only 5 storeys and 137 units, fees well below average and the York Beltline Trail directly behind it.Simply put: this would be up there with the Candy Factory, Argyle, Robert Watson et al if it were more centrally located. Great value here and location certainly has room to grow.<a href="https://strata.ca/toronto/365-dundas-st-e-century-lofts">Century Lofts</a> &ndash; 365 Dundas Street EastThe Century Lofts is in a pocket of Moss Park that&rsquo;s undergoing considerable redevelopment, and as of writing this article could still be described as a little rough around the edges.This has kept the average cost per square foot quite low, considering how central the location is (about a 12 minute walk to the Eaton Centre/subway).This loft might look a little tired, but it is a true conversion: 41 units and only 2 storeys with low turn-over. Condo fees are lower than average, which isn&rsquo;t surprising given the size of the loft and the lack of amenities.<a href="https://strata.ca/toronto/550-hopewell-ave-west-village-lofts">West Village Lofts</a>&ndash; 550 Hopewell AvenueThe West Village Lofts is one of a small handful of soft lofts that truly resemble the archetypal conversion lofts. This beautifully designed building offers only 29 units.Although an amazing deal, the West Village Lofts are priced affordable due to location. Condo fees are in the low to average range.<a href="https://strata.ca/toronto/2-fieldway-rd-network-lofts">Network Lofts</a> &ndash; 2 Fieldway RoadThe Network Lofts is at least of this writing, the only true conversion loft in Etobicoke. This is certainly one of the better office conversions, with 13 storeys and 205 units. Maintenance fees are reasonable &mdash; just a hair below average.<a href="https://strata.ca/toronto/41-shanly-st-dominion-felt-works">Dominion Felt Works</a> &ndash; 41 Shanly StreetWith only 10 units, this loft isn&rsquo;t on most buyers radars, which is why we scramble to notify our clients the moment anything does come up. In fact, it&rsquo;s been years since a unit has sold in this loft... The conversion was completed back in 1981, making this the first legal residential loft project in the city.The Dominion Felt Works has a fairly nondescript exterior, but the interior lofts spaces are quite stunning. A slightly removed location from the core is why this loft is on this list.<a href="https://strata.ca/toronto/188-eglinton-ave-e-soho-lofts">The Soho Lofts</a> &ndash; 188 Eglinton Avenue EastThe Soho Lofts is one of two conversion lofts in the Yonge/Eglinton neighbourhood (the other isn&rsquo;t worth writing about). Unlike the majority of the lofts on this list, this one is in a very well established &mdash; and expensive &mdash; area.So why is it still affordable?It likely has something to do with the surface (only) parking and most notably, the condo fees being much higher than average unfortunately. If the owners could get those fees down, it would undoubtedly have a positive impact on the unit values.<a href="https://strata.ca/toronto/245-carlaw-ave-wrigley-lofts">Wrigley Lofts</a> &ndash; 245 Carlaw AvenueThe Wrigley Lofts is one of the most rustic, industrial lofts in the Leslieville neighbourhood (for some, a bit too industrial). The 5 storey building offers 88 units. Maintenance fees are quite average average.Most of us at Strata love this building, but it&rsquo;s consistently selling below the neighbourhood average for a loft.Why? We suspect it has something to do with the mixed use (lot of commercial space in the building) and to some, the degree to which it&rsquo;s industrial (many loft buyers are looking for more of a balanced blend of modern and rustic).

The Most Affordable Lofts in Toronto in 2020 - Our Top Picks

The 10 Most Sought-After Toronto Condos

<h2>Bully Offer in the Competitive Toronto Real Estate Market</h2>Anarchy, betrayal, and tragedy. No, I&rsquo;m not talking about the hit TV series Game of Thrones. I&rsquo;m talking about Toronto&rsquo;s housing and condo market in early to mid 2017.<blockquote>A bully offer is when a buyer says &ldquo;I&rsquo;m skipping to the front of the line and submitting an offer today.&rdquo;</blockquote>All one needs to do is look at the migration numbers to metro Toronto to understand why the real estate market can be so competitive.As demand continues to outpace supply, I&rsquo;ve observed a number of interesting evolutions in the market. And one of the most prevalent is the &ldquo;Bully Offer.&rdquo;No, I&rsquo;m not saying bully offers are new. They&rsquo;re not&hellip;However they&rsquo;ve become quite a trend since about the beginning of 2015, and now occur about 30% of the time a property has a set offer date.<h3>Why would a seller set an offer date?</h3>When a seller knows they have a high-demand property, they&rsquo;ll put it on the market with a set offer date, usually about a week after the list date.The logic is simple: if they list &lsquo;without&rsquo; an offer date, someone will buy it before many of the other interested buyers have had a chance to view it themselves.It&rsquo;s in the seller&rsquo;s interest for all interested buyers to see the property.Why? Because it&rsquo;s only fair to the buyers and yes, to you cynics reading this, because it&rsquo;ll likely result in a higher selling price for the seller.If there are 5 interested buyers, they will all have a different opinion of the property value. Can you guess which buyer the seller wants to do work with?<h2>So what&rsquo;s a bully offer?</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/22/bully-offers-toronto-real-estate-market-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/22/bully-offers-toronto-real-estate-market.jpg"/><img src="https://strata.ca/slate-image/article-images/22/bully-offers-toronto-real-estate-market.jpg" alt="null"/></picture>A bully offer is when a buyer says &ldquo;There&rsquo;s no way I&rsquo;m waiting a week until the offer date, only to compete with a bunch of other buyers&hellip;. I&rsquo;m skipping to the front of the line and submitting an offer today.&rdquo;<h3>Is this an effective strategy?</h3>Yes and no. It depends on the seller, the strength of the bully offer and timing.<h3>The most effective bully offers have the three following characteristics:</h3>1: The offer is submitted within 24 hours of the property being is listed.The fewer the number of buyers who&rsquo;ve viewed the property, the better for the buyer with the bully offer. Very few buyers would submit an offer on a property without having actually viewed it.2: The offer must be strong on price and have no conditions.The seller and listing agent may list the property for $500,000, while knowing the value is actually around $550,000 and expect a selling price in that ballpark.If the bully comes in at $550,000, it&rsquo;s unlikely they&rsquo;ll accept. If it comes in at $570,000 however, the seller will likely accept the offer.3: The buyer&rsquo;s agent must convince the seller and their agent that the buyer submitting the bully will absolutely not participate on the offer date &mdash; this is the seller&rsquo;s only chance to entertain their offer.This puts the listing agent and seller in a pickle.Should they turn down the offer and risk settling for a lower offer on the set offer date? If the listing agent advises the seller to turn down the offer, it&rsquo;s their neck on the line if the seller ultimately gets a lower price on offer night.It&rsquo;s worth noting that at least 50% of the time, the buyer is bluffing and would participate on the set offer date (tail between legs).<h3>But if the buyer isn&rsquo;t going to get a good deal, why even bother with a bully? Here are the top four reasons:</h3>1: There&rsquo;s a greater chance the buyer will secure the property.For buyers who have submitted offers and lost out to other buyers many times before, this is a very attractive reason &mdash; even if it means paying a above market value.2: The value of a property isn&rsquo;t an exact science. Ask five appraisers the value of a property and they&rsquo;ll likely give you five different numbers, within about a 2% - 4% range.In other words, the buyer submitting the bully offer may actually pay less than what the property would sell for on the offer date, with many other buyers competing.This is exactly why bullies would give sellers and their agents such anxiety. They don't know if they're accepting the best offer, but terrified of the prospect of losing out if it is in fact the best offer.3: If you asked ten buyers who have submitted a bully offer why they were willing to risk overpaying, I'm guessing eight of them would tell you that in a hot sellers' market, 'market value' is quickly changing, and not in their favour.So they may have overpaid in April, but by July standards, they got a good deal.4: Perhaps less important than the other reasons, but if successful, simply expediting the process and allowing the buyer to move on with their life, rather than being in limbo for a week before the set offer date, is attractive to a lot of people &mdash; especially those who have already lost a couple times.<h3>Bottom Line</h3>Agents have different philosophies on bully offers. Personally, if I know with certainty my seller client will receive more than four or five offers, I note explicitly on the listing that we will absolutely not entertain any &ldquo;pre-emptive&rdquo; offers.That way, buyers won&rsquo;t waste their time submitting a bully and will instead submit their offer with all the other interested buyers on the offer date.If the market is only moderately favouring sellers and it&rsquo;s not clear if we&rsquo;ll receive more than 1 offer, my recommendation is usually that we be open to looking at bully offers.When representing buyers in a strong sellers' market, I always bring the subject of a bully offer up initially so they understand all the options available to them, but it usually isn&rsquo;t discussed with any seriousness until (or if) they&rsquo;ve either lost out on a couple properties to better offers, or lost out on a property due to a bully offer from another party.Whether it&rsquo;s the right course of action or not really depends on the circumstances. One must weight all the pros and cons before deciding if it&rsquo;s in their interest to participate on the offer date or in advance.There&rsquo;s a lot more to the process, but I hope this has given you a good primer!

Bully Offers: How to Win in a Competitive Real Estate Market

<h2>The nitty-gritty on heritage properties</h2>Conversion lofts, aka &lsquo;hard lofts,&rsquo; are each full of their own charm and character, but the prized distinction as a heritage building sets a couple apart from the rest.<blockquote>We&rsquo;ve rounded up some of Toronto&rsquo;s heritage buildings that have been converted into hard lofts</blockquote>Unfortunately, you can&rsquo;t just go around claiming to live in a heritage property just because your hard loft has seen many generations come through its doors. Luckily, though, heritage conservation is a priority in Toronto, and even more fortunately, a number of our city&rsquo;s heritage buildings have been converted into coveted hard lofts.Toronto&rsquo;s City Planning Division has a specific division known as the Heritage Preservation Services, and this group holds the power to deem a building worthy of heritage status. By their standards, heritage buildings in Toronto are important for their architectural value, or for its relation to a significant person or event or neighbourhood: the CN Tower is a heritage building, just as the [Tip Top Lofts](https://strata.ca/toronto/tip-top-lofts-637-lake-shore-blvd-w) is.<h2>Speaking of Lofts&hellip;</h2>We&rsquo;ve rounded up some of Toronto&rsquo;s heritage buildings that have been converted into hard lofts, for your reading pleasure.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/20/Toronto-heritage-lofts-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/20/Toronto-heritage-lofts.jpg"/><img src="https://strata.ca/slate-image/article-images/20/Toronto-heritage-lofts.jpg" alt="null"/></picture><h2>Historic Building Lofts in Toronto:</h2><a href="https://strata.ca/toronto/289-sumach-st-289-sumach-lofts">289 Sumach Lofts</a>Built: 1890Original Tenant: Ontario Medical College for WomenVintage Selling Point: During the renovation process the exterior of the building was restored to emulate the original building. This was done using photographs from a medical calendar that had been found beneath the baseboards.<a href="https://strata.ca/toronto/183-dovercourt-rd-the-argyle-lofts">Argyle Lofts</a>Built: 1919Original Tenant: Ideal Bread CompanyVintage Selling Point: Oversized arched doorways and 16 foot ceilings.<a href="https://strata.ca/toronto/2154-dundas-st-w-feather-factory-lofts">Feather Factory</a>Built: 1911Original Tenant: B.F. Harvey Co. Bedding FactoryVintage Selling Point: Original hardwood floors and wooden beams, all of which has been restored to its former glory.<a href="https://strata.ca/toronto/1100-lansdowne-ave-foundry-lofts">Foundry Lofts</a>Built: 1903Original Tenant: Canada Foundry CompanyVintage Selling Point: A colossal, 1,600 square foot atrium that doubles as an event space for residents.<a href="https://strata.ca/toronto/915-king-st-w-massey-harris-lofts">Massey Harris Lofts</a>Built: 1899Original Tenant: Head office of the Massey Harris agricultural equipment companyVintage Selling Point: 19th century masonry and bragging rights.<a href="https://strata.ca/toronto/155-dalhousie-st-the-merchandise-lofts">The Merchandise Lofts</a>Built: 1910Original Tenant: Simpson&rsquo;s Department StoreVintage Selling Point: A hard to come by Chicago School architectural fa&ccedil;ade.<a href="https://strata.ca/toronto/19-river-st-the-vinegar-lofts">The Vinegar Lofts</a>Built: 1907Original Tenant: Queen City Vinegar CompanyVintage Selling Point: The elegant yet welcoming Edwardian portico leading into the lobby.<a href="https://strata.ca/toronto/98-queen-st-e-richard-bigley-lofts">Richard Bigley Lofts</a>Built: 1875Original Tenant: Richard Bigley, stove salesmanVintage Selling Point: Architect Eb Zeidler drew up the blueprints for the Eaton Centre inside this very building during the 1970s.<a href="https://strata.ca/toronto/81a-front-st-st-lawrence-market-lofts">St Lawrence Market Lofts</a>Built: 1837Original Tenant: A wholesale grocer and his businessVintage Selling Point: This is Toronto&rsquo;s first pre-confederation building to be converted into residential lofts.<a href="https://strata.ca/toronto/637-lake-shore-blvd-w-tip-top-lofts">Tip Top Lofts</a>Built: 1929Original Tenant: Tip Top TailorsVintage Selling Point: Amongst a rare breed of Art Deco buildings in Toronto (plus it&rsquo;s set idyllically beside Lake Ontario).

A Beginner’s Guide To Toronto’s Heritage Lofts

<h2>What Type of buildings get converted to hard lofts, and which one is for you?</h2>Naturally, the types of buildings that developers see as potential homes have a lot to do with the history of a particular area. Want a loft in Wales? Perhaps you&rsquo;ll find one set within a 13th century castle.<blockquote>A major source for the hard lofts on the market today comes from Toronto&rsquo;s industrial period&mdash;or rather the deindustrialization that followed.</blockquote>Okay, so this might be somewhat of a stretch. However, a look back to Toronto&rsquo;s activity in the late 1800s and into the 20th century does prove something about our own hard loft conversions. A major source for the hard lofts on the market today comes from Toronto&rsquo;s industrial period&mdash;or rather the deindustrialization that followed.<h2>Industrial Conversions</h2>This type of hard loft may be the most popular in Toronto, however its higher quantity does not equate to commonness or repetition. Even within the category itself, industrial hard lofts manage to distinguish themselves by way of the authentic features that remain.Former warehouses regularly offer high ceilings and&mdash;you guessed it&mdash;warehouse windows. Some, like the <a href="https://strata.ca/toronto/1100-lansdowne-ave-foundry-lofts">Foundry Lofts</a> at 1100 Lansdowne, play with space: the former train manufacturing facility contains a 16,000 square foot atrium that doubles as an event space for residents to use. Others incorporate freight elevator shafts into contemporary living spaces, such as the <a href="https://strata.ca/toronto/993-queen-st-w-the-candy-factory-lofts">Candy Factory</a> on Queen Street West.Choose an industrial hard loft if: natural light is a priority and the thought of decorating around exposed ductwork, brick, wooden posts and beams, or concrete columns excite you.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/19/intrustrial-loft-toronto-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/19/intrustrial-loft-toronto.jpg"/><img src="https://strata.ca/slate-image/article-images/19/intrustrial-loft-toronto.jpg" alt="null"/></picture><h2>Sacred Spaces</h2>Romantic to some, yet sacrilegious to others, church-to-loft conversions aren&rsquo;t for everyone. These are slightly less common, but nonetheless a noteworthy facet of the Toronto hard loft market. And although many of these are lacking in inventive names (we&rsquo;re talking about you, Church Lofts), they are all truly remarkable in style.Lofts created out of former churches benefit from stylistic elements such as stained glass, vaulted ceilings, and even repurposed bell towers. Plus one of these buildings, the <a href="https://strata.ca/toronto/660-pape-ave-glebe-lofts">Glebe Lofts</a> at 660 Pape Avenue, still functions as a place of worship. Those who want to hit snooze and still attend mass may be in luck after all.Choose a church conversion if: the thought of contractors tearing religious ephemera from the walls during the renovation process doesn&rsquo;t make you queasy.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/19/660-Pape-Avenue_Glebe_Lofts-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/19/660-Pape-Avenue_Glebe_Lofts.jpg"/><img src="https://strata.ca/slate-image/article-images/19/660-Pape-Avenue_Glebe_Lofts.jpg" alt="null"/></picture><h2>Office Spaces</h2>Another, even more sporadic, type of hard loft is the office conversion. Some may not consider these to technically qualify as hard lofts, as the category typically refers to buildings whose previous functions were industrial in nature. In fact, these types wouldn&rsquo;t even consider church conversions to be the real deal, but we&rsquo;ll continue on for the remainder of our readers.Offices-turned-residences often feature those high ceilings and certain exposed elements desired by loft-seekers, however some can appear less exciting than an authentic 19th century factory conversion. For example, the original building that now houses the <a href="https://strata.ca/toronto/188-eglinton-ave-e-soho-lofts">Soho Lofts</a> was built in 1993, around the time that some of the first conversions were happening. Windows remain abundant here, while concrete floors and ceilings are often more polished looking than those found in older buildings.Choose an office conversion if: you want your hard loft to sparkle.<picture><source type="image/jpeg" srcSet="	https://strata.ca/slate-image/article-images/19/188-Eglinton-Avenue-East_Soho_Lofts_188_Mount_Pleasant-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="	https://strata.ca/slate-image/article-images/19/188-Eglinton-Avenue-East_Soho_Lofts_188_Mount_Pleasant.jpg"/><img src="	https://strata.ca/slate-image/article-images/19/188-Eglinton-Avenue-East_Soho_Lofts_188_Mount_Pleasant.jpg" alt="null"/></picture>

The Hard Facts on Hard Lofts

<h2>I Am a Foreigner and Want to Buy a Property in Toronto - What to Do?</h2>People from all over the world recognize how great Toronto is, and we don&rsquo;t blame them at all&mdash;it&rsquo;s multicultural, thriving, safe, and it has plenty of poutine. To prove our love for Canada, we enjoy working with non-Canadian clients in order to find them their dream properties in the Great White North.We also work with many investors who are looking to diversify their portfolios with reputable condo developments. Regardless, those with their hearts set on Toronto are in luck: Canada places no limits on the quantity or type of real estate owned by international buyers.Alas, buying a property in Canada won&rsquo;t necessarily lead to citizenship, if that&rsquo;s what you&rsquo;re after.As for citizens who are unsure of their status, let&rsquo;s clear a few things up right off the bat. Canadians living outside of the country for over 183 days of the year are automatically considered non-residents, while a resident plus non-resident pair making a purchase together will have to abide by the rules governing the latter.<h2>Logistics</h2>While some more visual buyers may want to be present for the search process, it is not abnormal for someone to buy a home from across the world, without having physically entering the property before putting in an offer. Video calls and online resources are one way of familiarizing yourself with a home from faraway (we frequently use FaceTime or Skype video when showing properties to client out of town), while others prefer friends or family to visit properties in their place. Documents can be emailed and electronic signatures used to make offers. Closing, or taking ownership, can even be done from outside of Canada as well.Generally, however, you will need to schedule at least one visit Canada in order to set up a bank account here (this applies only to those requiring mortgages).An assortment of seasoned professionals are all prepared to help non-resident clients make purchases in Canada. These include: realtors, lawyers, home inspectors, insurance agents, property managers, and lenders.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/14/how-to-buy-a-property-in-canada-for-non-canadian-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/14/how-to-buy-a-property-in-canada-for-non-canadian.jpg"/><img src="https://strata.ca/slate-image/article-images/14/how-to-buy-a-property-in-canada-for-non-canadian.jpg" alt="null"/></picture><h2>Money, Money, Money</h2>Mortgages: While non-residents may be required to shell out a higher down payment than residents, on the plus side this means they are still able to get a mortgage for Canadian purchases. As a general rule (meaning there are always some exceptions) down payments for non-residents start at 35% of the total price of the property. Other requirements for acquiring a mortgage include a bank reference, confirmation of employment and income, a credit report completed in Canada, and three months worth of bank account statements.Remember, your down payment will likely need to be situated in a Canadian bank for a month prior to the closing date. On top of this, it is common for a bank to map the route of this money for the three months prior to your purchase.<blockquote>People from all over the world recognize how great Toronto is. To prove our love for Canada, we enjoy working with non-Canadian clients in order to find them their dream properties in the Great White North.</blockquote>For those forgoing a mortgage altogether, note that the process involves sending 100% of the money due to your lawyer, prior to your closing date.<h3>Deposit:</h3>A small amount of money (traditionally 5% of the purchase price) will need to be put down as a deposit following your offer. This deposit is required within 24 hours of the offer being accepted, the trustee being the listing brokerage. Eventually, this money becomes part of your down payment. Because this process needs to be done so quickly, most buyers are sure to have Canadian bank accounts ready and waiting with the amount of the deposit, prior to making an offer.<h3>Interest and Closing Costs:</h3>Even though the process of obtaining a mortgage might be different, non-residents pay the same interest rates as Canadian residents. Some international buyers will be subject to a fixed interest rate, if their home country has no enforced tax treaty with Canada. Closing costs are also the same for non-residents and residents of Canada, including land transfer taxes and legal fees.<h3>Income:</h3>When preparing for your purchase, remember that rental income from non-Canadian properties is generally not accepted as a component of your income, and that this might have an effect on your eligibility for obtaining a mortgage in Canada.<h3>Insurance:</h3>This is one of the more difficult matters faced by non-residents, making it important to find a knowledgeable insurance agent to help you along the way. We can certainly assist in making a referral.<h3>Taxes:</h3>Land transfer taxes are paid only once, upon closing on the property. Property taxes are paid annually, and can be calculated based on information from the City of Toronto. Income taxes are only applicable if and when you decide to sell your Canadian property, at which time a fraction of the purchase price is provided to the Canada Revenue Agency (CRA). By filing a Certificate of Compliance, and upon obtaining approval by the CRA, this tax can be minimized. Regardless, a tax return must be filed in Canada by the end of the April following the sale.<h3>Closing Costs:</h3>As outlined above, before closing a deposit must be paid. On top of this, a property appraisal may be necessary. On closing, the remainder of purchase is paid (partly by the buyer and partly by the lender when a mortgage is involved). Legal fees are also paid upon closing, as are title insurance, property survey fees, taxes, warranty fees (only for new buildings), and sometimes adjustments for utilities or condo fees.

How to Buy a Home in Canada Without Being Canadian

Did you know that as of the most recent census there were over 25,000 licensed cats and almost 55,000 licensed dogs in Toronto?And that's only those that are legally licensed through the city &mdash; not including reptiles, birds, or rodents (the cute, caged variety).Given Torontonians' affinity for animals &mdash; pet regulations in condos are a truly furry affair. As a pet-owning real estate broker myself (with about one in four of my clients being pet owners) I know the struggles of pet ownership in the city all too well.<blockquote>My simple advice to my fluffy-friend-owning clients is this: buy in a condo that accepts pets. You can be sure it accepts them by reading the status certificate or talking to management.</blockquote>The regulations can be an endemic problem for pet owners, but you can't 'fight the man'...or can you?<h2>The Most Common Pet Regulations in Toronto</h2>The upside of Toronto condos' pet regulations is that very few of them have blanket 'no pet' rules &mdash; at my last count, fewer than a dozen.But, for the majority that do accept them they do have specific regulations.These commonly include a cap on the number of pets with a max of two cats and/or dogs (citywide the restriction on all homes is 3 dogs max and 6 pets total), restrictions on certain breeds (especially breeds like Pit Bulls), no breeding, and a maximum size of about 25-40lbs.Then there are the standard, 'neighbourly' rules that simply make sense, like using leashes, picking up after your pet and keeping them from barking excessively.<h2>Are these Regulations Enforceable?</h2>The convoluted answer is yes &mdash; and no. While all pet-owning condo residents should strive to make the environment comfortable for all &mdash; by picking up after your pet and keeping your dog from barking incessantly &mdash; how condos enforce pet rules can vary from building-to-building.I once asked a property manager how she enforces pet size restrictions. She gave me a deadpan look and responded, &quot;Do you see me walking around with a weight scale?&quot;Point taken.Some condos don't enforce pet restrictions at all... However others are more stringent.The majority of buildings that do enforce the rules use a verbal or written 'warning' system.After (usually) three strikes &mdash; they'll try to evict your pet from the building.Can they do that? Yes they can, especially if they get lawyers involved.It is a time consuming process though, and if they win they may also win a monetary settlement along with it.According to Park &amp; Jung LLP Lawyers, &ldquo;Condominium unit owners should know that not only can the condominium corporations sue them to obtain an order to enforce the rules of the condo and recover legal costs for doing so, but they can also register a lien against their unit.&rdquo;So they can't legally force you to sell, but if they win the court case you'll have to move or rehome your pet.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/1/Are Pet Restrictions Enforceable in Toronto Lofts_ - IMAGE 2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/1/Are Pet Restrictions Enforceable in Toronto Lofts_ - IMAGE 2.jpg"/><img src="https://strata.ca/slate-image/article-images/1/Are Pet Restrictions Enforceable in Toronto Lofts_ - IMAGE 2.jpg" alt="null"/></picture><h2>What If I Buy a Condo in a No-Pet Building?</h2>So, what happens if you purchase a condo in a blanket &lsquo;no-pet&rsquo; building and you have pets, or plan to have them in the future?Some owners will simply live with the pet and hope for the best.But, if you do have a nosy neighbour all 'up in your business' you will likely receive a written notice about an infraction with the condo regulations. Your option is to appeal to the board to lift the pet ban, and failing that to seek legal recourse.As a cat owner I understand that the struggle is real. Also, my cat would simply never tolerate this type of discrimination (from neither humans or dogs).But as both a pet owner and broker I know that with about 25% of the market owning pets &mdash; condos are hurting themselves by turning away pet owners. Not only does it stigmatize a condo &mdash; it could also hurt property values by lowering demand.My simple advice to my fluffy-friend-owning clients is this: buy in a condo that accepts pets. You can be sure it accepts them by reading the status certificate or talking to management.There are so many that do, that it's not worth the battle to buy in one of the few no-pet (period) condos.If you already bought a condo and want a pet that doesn't comply with regulations, try appealing to your condo board (sometimes if you ask they will help you, on a pet-by-pet basis).Your final recourse is taking legal action &mdash; which has a fair amount of precedent here in Toronto. This however should be a last resort, as legal battles are time consuming, expensive and the outcome may not be in your favour.I was talking to an owner at 95 Lombard recently (a no-pet condo) who was telling me about how many owners have dogs, despite the no-pet rule. And they&rsquo;re in the process of changing the rules to officially accommodate pets.On the whole though, in most condos, the pet restrictions are seldom enforced &mdash; particularly if you have a well behaved pet.Sources:<ul><li>YCC No. 26 v. Ramadani (about a 'nuisance' dog)</li><li>DSCC No. 187 v. Morton (quantity of pets)</li><li>York Condominium Corporation</li><li>No. 382 v. Dvorchik, [1997] (dog size)</li><li>Metropolitan Toronto Condominium Corporation v. Bazilinsky ($40K+ in fines, a property lien and difficult resale)</li><li>215 Glenridge Avenue Limited Partnership v. Waddington, [2005] and Metropolitan Toronto Condominium Corporation No. 949 v. Staib, [2005] (blanket no-pets)</li></ul>

Are Pet Restrictions Enforceable in Toronto Condos?

With the average price of a Toronto condo well over $700,000, anything even slightly cheaper can feel like a dream in today&rsquo;s market. But in one of Toronto&rsquo;s most popular neighbourhoods, the average selling price of a condo is so low, we actually had to do a double-take.In Little Portugal, homebuyers paid an average of $582,000 for a condo last month. MLS data for that area (C01) indicates a total of 33 sales in May. 13 of them sold below the month&rsquo;s average. And according to Sam Massoudi, real estate agent at Strata.ca, more than half of those transactions were concentrated in just two buildings: <a href="https://strata.ca/toronto/edge-on-triangle-park-36-lisgar-st" target="_blank">36 Lisgar Street</a> and <a href="https://strata.ca/toronto/epic-on-triangle-park-68-abell-st" target="_blank">68 Abell Street</a>.&ldquo;I personally believe these two buildings are driving down the neighbourhood average in Little Portugal,&rdquo; he says.&ldquo;It&rsquo;s really peculiar to see 1-bedrooms selling in the low $400s, considering the Toronto average for units this size are actually $560,000.&rdquo;<h2>&lsquo;Units are smaller, no unique character&rsquo;</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/111/02_36LisgarStreet_EdgeOnTriangleCondos_Entrance-1200-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/111/02_36LisgarStreet_EdgeOnTriangleCondos_Entrance-1200.jpeg"/><img src="https://strata.ca/slate-image/article-images/111/02_36LisgarStreet_EdgeOnTriangleCondos_Entrance-1200.jpeg" alt="36 Lisgar St Little Portugal, Toronto On"/></picture>36 Lisgar and 68 Abell were originally introduced to the neighbourhood as a more economical living situation, according to Strata.ca realtor Alex Hood. He says the boutique features that many homebuyers are looking for just don&rsquo;t exist in either building.&ldquo;The finishes are of lower quality, the layouts are smaller, and they don&rsquo;t have any unique character.&rdquo;Hood also notes that a lot of the units, especially at 68 Abell, are purchased as investment properties and rented out to tenants. So they may not be as appealing to end-users.&ldquo;Both buildings also have a revolving door of inventory with units that stay on the market longer, and sell at about $900 per square foot...well below the average of $970 for Toronto&rsquo;s west end.&rdquo;<h2>Property values surge when two buildings omitted</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/111/01_68AbellStreet_Epic_on_Triangle_Park_ExteriorFacade-1200-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/111/01_68AbellStreet_Epic_on_Triangle_Park_ExteriorFacade-1200.jpeg"/><img src="https://strata.ca/slate-image/article-images/111/01_68AbellStreet_Epic_on_Triangle_Park_ExteriorFacade-1200.jpeg" alt="68 Abell St Little Portugal, Toronto On"/></picture>As one of Toronto&rsquo;s hottest ethnic enclaves, Little Portugal is just west of downtown in the &lsquo;Old&rsquo; City of Toronto. Although it was traditionally a pocket for residents of Portuguese and Brazilian descent, its central location and steady gentrification have made Little Portugal one of the city&rsquo;s most sought after destinations; even though its property values may not necessarily reflect that.&ldquo;When I remove 36 Lisgar and 68 Abell from the MLS data search, the average sale price of a condo for May jumps to $753,000,&rdquo; says Massoudi.And that&rsquo;s well above Toronto&rsquo;s overall average of $701,000. If those two buildings did not exist, Little Portugal would have some of the highest real estate values in the city. It would beat out neighbourhoods like High Park, Cabbagetown and Leaside, which sit at $700,000, $713,000 and $677,000 respectively.<h3>Some sections of this article were removed in good faith to acknowledge concerns brought to light by condo owners at 36 Lisgar and 68 Abell.</h3>For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Two Condominiums Driving Down Average Property Values in Hot Toronto Neighbourhood by Over 20%

Hamilton has had nearly triple the amount of condo sales transactions compared to the same time last year. Soaring real estate prices in the GTA have forced potential homebuyers to look at more affordable cities, leading to Hamilton&rsquo;s steady ascent. But now, prices in one of the hottest real estate markets to emerge from the COVID-19 pandemic appear to be cooling off.In March, Hamilton saw 75 condo sales, compared to just 28 the year prior. Aside from a small dip in January, transactions have steadily increased and we predict this trend to continue until the summer.<h2>But still, prices levelling off in The Hammer</h2>Despite those rising sales numbers, overall condo prices may be coming down in Hamilton. Robert Van Rhijn, Broker of Record at <a href="https://strata.ca">Strata.ca</a>, points out that the price-per-square-foot is currently sitting at $501, down from February&rsquo;s record-high of $535.&ldquo;Although appreciation values are up 5% over the past year, we&rsquo;re noticing what appears to be a levelling-off since a pricing surge that kicked off in December. A lot of this is likely due to a rise in inventory, forcing sellers to bring down their asking price so they can stay competitive.&rdquo;Van Rhijn is referring to last August, when condo inventory in Hamilton hit its peak. That month alone, 152 units were put up for sale. After that, the number of available listings went on a steady decline throughout the winter. But with the start of spring, 144 units hit the market in March; closer to those inventory levels noted last summer.<h2>Some pockets still hotter than others</h2>Downtown Hamilton remains one of the more expensive neighbourhoods with condos selling at about $567 per-square-foot, considerably higher than the city average of $501 mentioned earlier. But that&rsquo;s not to be outdone by the community of Lakeshore-Stoney Creek, which has an average price-per-square-foot of $662. In the past 30 days, the typical selling price of a condo there was $618,000.Although some pockets remain hotter than others, the communities of West Mountain and Red Hill-Vincent-Gershome still remain most affordable. The average sale price in these two areas are considerably lower at $538,000 and $522,000 respectively. And it&rsquo;s not hard to still find relatively affordable properties here:<a href="https://strata.ca/hamilton/greencrest-estates-townhomes-40-66-summercrest-dr/unit-2-x5183532">66 Summercrest Drive, Unit 2</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/102/00_66_summercrestdr_unit2-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/102/00_66_summercrestdr_unit2.jpeg"/><img src="https://strata.ca/slate-image/article-images/102/00_66_summercrestdr_unit2.jpeg" alt="66 SummerCrest Dr 3 Bed 2 Bath 1096SQFT"/></picture><a href="https://strata.ca/hamilton/30-40-harrisford-street-condos-30-harrisford-st-40-harrisford-st/unit-405-x5163394">40 Harrisford Street, Unit 405</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/102/00_40_Harrisford_st_unit405-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/102/00_40_Harrisford_st_unit405.jpeg"/><img src="https://strata.ca/slate-image/article-images/102/00_40_Harrisford_st_unit405.jpeg" alt="40 Harrisford St 1200sqft 2bed 2bath Hamilton Ontario"/></picture><a href="https://strata.ca/hamilton/250-magnolia-drive-townhomes-250-magnolia-dr/unit-9-x5163090">250 Magnolia Drive, Unit 9</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/102/00_250_magnolia_dr_Unit9_Hamilton-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/102/00_250_magnolia_dr_Unit9_Hamilton.jpeg"/><img src="https://strata.ca/slate-image/article-images/102/00_250_magnolia_dr_Unit9_Hamilton.jpeg" alt="250 Magnolia dr 3 bed 2 bath Hamilton Ontario"/></picture>Van Rhijn thinks condos generally perform well in Hamilton because it's one of the only housing segments that still remains within reach, especially for young families and first-time homebuyers.&ldquo;For those priced out of the Toronto market, this recent cooling of condo prices is encouraging. Not only do you get more value per square foot in Hamilton, but units here tend to be more spacious. Plus you&rsquo;re not competing with the density found in other urban areas, so it really lends itself to a different quality of life.&rdquo;For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Hamilton Condo Prices Appear to be Cooling Off, Even Though Sales Nearly Triple

There&rsquo;s something truly special about living along the water. What&rsquo;s better than brushing your teeth on the balcony, looking down on the calming waves below? Or enjoying sunset dinners with gorgeous views of the lake?Many homebuyers will say that a view of the lake is something worth paying extra for. But the question is: Just how much more should people expect to spend? That&rsquo;s why we set out to determine the exact value of a Toronto waterfront view.<h2>Toronto&rsquo;s waterfront views command an 8% premium</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/98/pexels-scott-webb-614225-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/98/pexels-scott-webb-614225.jpg"/><img src="https://strata.ca/slate-image/article-images/98/pexels-scott-webb-614225.jpg" alt="Toronto waterfront condo"/></picture>In order to arrive at this precise value, we compared sales prices for 20 pairs of units during the past 12 months. Each pair consisted of nearly identical units, except for their orientation: One unit from each pair faced north; the other faced south. The units in question were located in 13 buildings along Toronto&rsquo;s waterfront (predominantly concentrated along Queens Quay and Lakeshore Blvd), and stretching to the Etobicoke border. So when we say waterfront view, we really mean waterfront view.After determining the average sale price for each pair, we calculated the difference among those averages, represented as a percentage.Here&rsquo;s what 8% looks like against various property values:<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/98/Below Average Chart-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/98/Below Average Chart.png"/><img src="https://strata.ca/slate-image/article-images/98/Below Average Chart.png" alt="Table chart with condo statistics"/></picture><h3>Is it worth paying the premium?</h3>Now that you know just how much a Toronto waterfront view will set you back, does it make sense to pay the extra 8% for a coveted view of the lake? The answer is very subjective because the added cost is worth it for some, yet unreasonable for others.Robert Van Rhijn, Broker of Record at <a href="https://strata.ca" target="_blank">Strata.ca</a>, believes both points of view are completely valid. He says it really depends on what you value in a property, considering you&rsquo;ll get your money back when it&rsquo;s time to sell.&ldquo;If a view of the water is going to improve your overall quality of life, then why not? I&rsquo;ve worked with a lot of buyers who are determined to get that lake view because it keeps them emotionally anchored. It gives them a sense of calm, which is a nice contrast to the chaos that often comes with city life.&rdquo;Van Rhijn also adds that there&rsquo;s only so many waterfront properties to go around. So it&rsquo;s important to capitalize on that fact:&ldquo;There&rsquo;s this overwhelming sense of scarcity. Any developer can erect a condo, for example, on any parking lot in the city. But there&rsquo;s a finite amount of locations that lend themselves well to a waterfront view.&rdquo;Ultimately, the question of whether that additional 8% is fair is up to the individual buyer. Whether you want to increase your ROI or just can&rsquo;t shake the idea of morning coffees overlooking the lake, one thing&rsquo;s for sure: Owning a waterfront property in Toronto is never a bad idea.<h3>Waterfront condos for sale under $750,000</h3><ul><li><a href="https://strata.ca/toronto/eau-du-soleil-condos-20-30-shore-breeze-dr-2183-lakeshore-blvd-w/unit-1306-w5134565" target="_blank">20 Shore Breeze Drive, Unit 1306</a></li><li><a href="https://strata.ca/toronto/eau-du-soleil-condos-20-30-shore-breeze-dr-2183-lakeshore-blvd-w/unit-1311-w5134562" target="_blank">20 Shore Breeze Drive, Unit 1311</a></li><li><a href="https://strata.ca/toronto/aqua-410-queens-quay-w/unit-401-c5133088" target="_blank">410 Queens Quay West, Unit 401</a></li><li><a href="https://strata.ca/toronto/aqualina-condos-at-bayside-55-merchants-wharf-15-merchants-wharf/unit-812-c5091377" target="_blank">15 Merchants Wharf, Unit 812</a></li><li><a href="https://strata.ca/toronto/hearthstone-by-the-bay-condos-3-marine-parade-dr/unit-1406-w5108262" target="_blank">3 Marine Parade Drive, Unit 1406</a></li></ul>For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

How Much is a Toronto Waterfront View *Actually* Worth? [INVESTIGATION]

In the Greater Toronto Area, overall condo values have gone up over the past 60 days, with the average sale price currently sitting at $669,000. But there are neighbourhoods throughout the GTA where condos are still selling below the regional average:<ul><li><a href="https://strata.ca/east-york/old-east-york" target="_blank">Old East York - East York</a></li><li><a href="https://strata.ca/north-york/flemingdon-park" target="_blank">Flemingdon Park - North York</a></li><li><a href="https://strata.ca/toronto/etobicoke/etobicoke-west-mall" target="_blank">West Mall - Etobicoke</a></li><li><a href="https://strata.ca/mississauga/dixie-applewood" target="_blank">Dixie-Applewood - Mississauga</a></li><li><a href="https://strata.ca/markham/thornhill-markham" target="_blank">Thornhill - Markham</a></li></ul>Despite the anticipated activity of the upcoming spring market, homebuyers can expect to find value in these neighbourhoods. In Old East York and Flemingdon Park, for example, the average sale price of a condo is $495,000. In the Etobicoke neighbourhood of West Mall, condo values still remain down by nearly 4% in the past 60 days, with an average sale price of $550,000.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/Below Average Chart-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/Below Average Chart.png"/><img src="https://strata.ca/slate-image/article-images/95/Below Average Chart.png" alt="Below average chart"/></picture><h2>Neighbourhoods filled with &lsquo;1st generation condos&rsquo;</h2>The above neighbourhoods are dominated by what the industry calls, &lsquo;1st generation condos&rsquo;. Built in the 70s and early 80s, these buildings offer some of the best price-per-square-foot value in the city. But according to Nathaniel Hartree-Hallifax, a real estate agent at <a href="https://strata.ca" target="_blank">Strata.ca</a>, the pandemic&rsquo;s impact on immigration is what&rsquo;s driving prices down.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/nadine-shaabana-YnbK7cgQPGQ-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/nadine-shaabana-YnbK7cgQPGQ-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/95/nadine-shaabana-YnbK7cgQPGQ-unsplash.jpg" alt="building from toronto"/></picture>&ldquo;The value found in 1st generation condos is enough to attract many first-time buyers, including new Canadians getting on the property ladder. But given there are fewer immigrants moving to the GTA at this time, I think it&rsquo;s easy to see why prices are softening in these neighborhoods.&rdquo;Hartree-Hallifax says that homebuyers should take advantage of this shrinking demand, and explore what their options might be.&ldquo;In softer markets, you&rsquo;re more likely to be able to negotiate a sale with beneficial conditions and a better price. For potential homebuyers locked out of hotter neighbourhoods, these areas might be a welcome change. But don't wait too long. The closer we get back to pre-COVID times, the quicker these dynamics will revert,&rdquo; he adds.Still though, homebuyers should always do their research before investing in a 1st generation condominium. Many of these units lack modern conveniences, and some older buildings simply do not have the infrastructure for future upgrades.&ldquo;Given the chance to build equity, many people will forgive the fact that there&rsquo;s no ensuite laundry or central air conditioning. And they may think these things can be added later through renovations. But understanding which buildings can be improved, and which can't, is crucial. This will have an important impact on price and resale value,&rdquo; says Hartree-Hallifax.<h2>Suburbs still on fire, but deals to be found in certain pockets</h2>Properties in the GTA suburbs have been a hot commodity since the start of the COVID-19 pandemic last March. In the past 12 months, Mississauga and Markham have both seen condo values soar by 9% and 14% respectively. But Robert Van Rhijn, Broker of Record at <a href="https://strata.ca" target="_blank">Strata.ca</a>, says homebuyers on a budget can still find condos here for less than the GTA average.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/jason-ng-twpgpyhZU34-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/jason-ng-twpgpyhZU34-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/95/jason-ng-twpgpyhZU34-unsplash.jpg" alt="Mississauga absolute world buildings"/></picture>&ldquo;People who want to make the move to the suburbs can find pockets in Mississauga and Markham where condo prices are still relatively cheaper. In the Mississauga neighbourhood of Dixie-Applewood, for instance, the appreciation rate over the past 60 days remains modest at just 1%.&rdquo;Van Rhijn adds that while property values in Thornhill have seen a recent surge, that doesn&rsquo;t mean homebuyers and investors should overlook the popular Markham community.&ldquo;For sure, property values in Thornhill are up a staggering 18% over the past two months alone. But we're still seeing condos selling slightly below the GTA average here,&rdquo; he says.<h2>Condo Listings in the GTA&rsquo;s Most Affordable Neighbourhoods</h2><h3>Old East York</h3><ul><li><a href="https://strata.ca/toronto/minto-skyy-1048-broadview-ave/unit-1004-e5125634" target="_blank">1048 Broadview Ave, Unit 1004</a> - $500,000</li><li><a href="https://strata.ca/toronto/crescent-town-condos-1-5-massey-sq-6-12-crescent-town-rd/unit-1717-e5132754" target="_blank">5 Massey Square, Unit 1717</a> - $449,900</li><li><a href="https://strata.ca/toronto/crescent-town-condos-1-5-massey-sq-6-12-crescent-town-rd/unit-404-e5121922" target="_blank">2 Crescent Town Rd, Unit 404</a> - $475,000</li></ul><h3>Flemingdon Park</h3><ul><li><a href="https://strata.ca/toronto/leeward-glenway-condos-95-155-leeward-glenway/unit-302-c5127058" target="_blank">135 Leeward Glenway St, Unit 302</a> - $599,000</li><li><a href="https://strata.ca/toronto/sunny-glenway-condos-10-sunny-glen-way-5-55-sunny-glenway/unit-118-c5126483" target="_blank">25 Sunny Glenway N, Unit 118</a> - $574,999</li><li><a href="https://strata.ca/toronto/wynford-condominiums-20-edgecliffe-golfway/unit-802-c5084785" target="_blank">20 Edgecliff Gfwy, Unit 802</a> - $550,000</li></ul><h3>West Mall</h3><ul><li><a href="https://strata.ca/toronto/summit-royal-condos-625-the-west-mall-627-the-west-mall/unit-1211-w5129522" target="_blank">625 The West Mall Cres, Unit 1211</a> - $549,000</li><li><a href="https://strata.ca/toronto/west-village-i-condos-6-eva-rd/unit-2510-w5132636" target="_blank">6 Eva Rd, Unit 2510</a> - $519,000</li><li><a href="https://strata.ca/toronto/west-village-i-condos-6-eva-rd/unit-211-w5126315" target="_blank">6 Eva Rd, Unit 211</a> - $489,900</li></ul><h3>Dixie-Applewood</h3><ul><li><a href="https://strata.ca/mississauga/applewood-place-condos-1333-bloor-st/unit-1215-w5109032" target="_blank">1333 Bloor St, Unit 1215</a> - $539,900</li><li><a href="https://strata.ca/mississauga/applewood-landmark-condos-1300-bloor-st/unit-2309-w5067926" target="_blank">1300 Bloor St, Unit 2309</a> - $519,900</li><li><a href="https://strata.ca/mississauga/applewood-place-condos-1333-bloor-st/unit-1414-w5130458" target="_blank">1333 Bloor St, Unit 1414</a> - $449,000</li></ul><h3>Thornhill</h3><ul><li><a href="https://strata.ca/markham/thornhill-orchards-condos-50-inverlochy-blvd-60-inverlochy-blvd/unit-1206-n5112588" target="_blank">60 Inverlochy Blvd, Unit 1206</a> - $588,888</li><li><a href="https://strata.ca/markham/johnsview-village-townhomes-1-94-porterfield-cres/unit-na-n5127555" target="_blank">90 Porterfield Crescent</a> - $699,000</li></ul>For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

These GTA Neighbourhoods Still Have Below-Average Condo Prices

On Valentine&rsquo;s Day &ndash; or during the entire month of February, for that matter &ndash; it&rsquo;s difficult to avoid talk of dating and even marriage. Good news is, the &lsquo;proper order&rsquo; of things that your parents like to drone on about is simply a construct. There&rsquo;s no real reason you can&rsquo;t buy a home before you get married (not that you have to get married at all). It&rsquo;s 2021 and the rules no longer apply.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/91/dreamstime_m_160743885-600.jpg " media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/91/dreamstime_m_160743885.jpg "/><img src="https://strata.ca/slate-image/article-images/91/dreamstime_m_160743885.jpg " alt="Funny happy young woman holding mop microphone singing song in modern living room interior with big window"/></picture>In fact, there are many benefits to buying a property alone:<ul><li>No need to compromise. Just think how hard it is to decide what movie to watch with friends, and then imagine how much more heated the arguments would be when deciding on a location, an ideal budget, or required closet space with a partner.</li><li>It&rsquo;s all yours. Being the sole owner of a property means there&rsquo;s no fear of splitting from your partner and having to sell -- or having to live in a home haunted with memories of your ex!</li><li>Reap the unexpected rewards. Condos, in particular, are actually great for singles. Between common spaces, amenities and even elevators, there&rsquo;s plenty of opportunity to meet your neighbours along the way. Post-pandemic, of course. Whether you&rsquo;re looking for &lsquo;the one&rsquo; or just want some new friends, it&rsquo;s nice to know there are other people nearby when living on your own.</li></ul>If you&rsquo;ve read this far and you&rsquo;re convinced buying solo is for you, here are some things to know before moving forward.<h2>Understand the financial risks</h2>There&rsquo;s no one to fall back on when you purchase alone. So speak to a financial expert to understand what you can truly afford by yourself. And have a plan in place for worst case scenarios, like losing your job. Strata.ca real estate agent <a href="https://strata.ca/agents/larry-medina" target="_blank">Larry Medina</a> says he couldn&rsquo;t agree more.&ldquo;The best advice I have for clients is to connect with a mortgage specialist. This person can walk you through how much you can afford, plus all the costs associated with a home purchase. That includes land transfer taxes, down payment requirements, and even lawyer fees.&rdquo;Medina also adds that this process will give you a clear idea of how much you need before you start shopping.<h2>Save, save, and save some more</h2>Naturally, saving for a down payment is more difficult with a single income. But by no means is it impossible. According to a <a href="https://mortgageproscan.ca/docs/default-source/consumer-reports/housing-market-report---year-end-2019-(english).pdf" target="_blank" rel="nofollow">report</a> from Mortgage Professionals Canada, 84% of first-time homebuyers cite &lsquo;personal savings&rsquo; as the source of their down payments. And Medina believes that&rsquo;s something we all have control over.&ldquo;Create a savings goal and be frugal. Keep your eye on the prize. Set up automatic withdrawals into a savings account, and you won&rsquo;t even notice.&rdquo;<a href="https://strata.ca/agents/jenn-costigan" target="_blank">Jenn Costigan</a> is also an agent at Strata.ca. She says a downpayment of 20% is required, unless you&rsquo;re alright with paying mortgage insurance.&ldquo;If a homebuyer is able to put down 20%, I would always suggest they do so. I understand that not everyone has the means to do this. But it&rsquo;s still of benefit as you&rsquo;ll avoid insurance premiums and pay less interest on your overall mortgage.&rdquo;There are countless ways to save up for that down payment. Whether it&rsquo;s setting up auto-transfers from each of your paycheques or temporarily downsizing your rental unit &mdash; the trick is to find a method that works for you.<h2>Lower your debt</h2>Debt-to-income ratio is very important when trying to secure a mortgage. So pay down credit cards and student loans as much as possible. This will increase the odds of securing a mortgage for a higher purchase price.<h2>Stop fantasizing...and asking &lsquo;what if?&rsquo;</h2>When viewing properties, don&rsquo;t let yourself wonder what will happen if you meet someone. This mindset can cloud your judgment. You might end up passing on something that's really great for you because you're worried whether there will be enough space for your hypothetical future soulmate. Instead, buy the home you love now, and worry about making it work for someone else when the time comes.<h2>Find someone to confide in</h2>Bring a friend along to view properties, just to keep yourself in check. This will also give you someone to bounce ideas off of. While the final say will be all yours -- if the person knows you well, they can validate good decisions and help you avoid bad ones.So to any single people reading this, we say: Don&rsquo;t let societal pressures get you down. If you feel you&rsquo;re ready to buy a home on your own -- go forth, tune out the haters, and let our advice guide you on this exciting new adventure!

The Single Person’s Guide to Buying a Home On Your Own [Valentine’s Special]

After a tepid year for the downtown condo market that saw slumping demand, there are signs of a rebound &mdash; prices are up 2.5% in the last 60 days alone, however, some unit types are performing better than others.2-bedroom units, previously the gold standard for many empty nesters, are lagging behind. The average 2-bedroom unit in the downtown core sold for $871,962 in January 2021, a decline of 6.5% compared to January 2020. Condo owners with 2-bedroom units will likely scowl at this news, but for prospective buyers, there&rsquo;s opportunity.The following are five 2 bedroom listings that stood out to us.<h2>36 Lisgar Street, Unit 508</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_36_lisgar_unit_508e.jpeg-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_36_lisgar_unit_508e.jpeg.jpg"/><img src="https://strata.ca/slate-image/article-images/90/00_36_lisgar_unit_508e.jpeg.jpg" alt="36 Lisgar St Unit 508E $ 479,000 2 Bdrm 610Sqft"/></picture>A 2-bedroom condo selling for $479,000 in Little Portugal might raise some red flags. You&rsquo;re right to be skeptical. <a href="https://strata.ca/toronto/edge-on-triangle-park-36-lisgar-st" target="_blank">36 Lisgar</a> is an eye pleasing residence, with a great location, soft loft vibes &mdash; and chronic issues..Edge on Triangle is the work of Urbancorp; you may recognize that name as that of a developer who declared bankruptcy a few years ago. The CMHC has since blacklisted the building, requiring any prospective buyers to put down 20% in order to have the bank insure the mortgage. As well, previous tenants have alleged poor building management, prior to Del Property Management Inc taking over.As much as 36 Lisgar comes with some drawbacks, there&rsquo;s ample upside here as well. This residence is nestled steps from Queen Street West and the building offers recreation focused amenities and modern finishes.<a href="https://strata.ca/toronto/edge-on-triangle-park-36-lisgar-st/unit-508e-c4971405" target="_blank">Unit 508</a> has flaws, to be certain; there&rsquo;s only a single bathroom, and our agents would be quick to note the wasted square feet in the hall/entryway and a slightly awkward layout in the kitchen. Minor issues, considering the price. The long-term outlook for 36 Lisgar is clear though &mdash; when the building gets its affairs in order, CMHC will likely agree to insure mortgages again and values will inevitably catch up to its neighbours.<h2>263 Wellington St W, Unit 1205</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_263_Wellington_St_W_Unit_1205.jpeg-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_263_Wellington_St_W_Unit_1205.jpeg.jpg"/><img src="https://strata.ca/slate-image/article-images/90/00_263_Wellington_St_W_Unit_1205.jpeg.jpg" alt="263 Wellington St W Unit 1205 $ 585,000 2 Bdrm 789Sqft"/></picture><a href="https://strata.ca/toronto/263-wellington-west-263-wellington-st-w" target="_blank">263 Wellington Street West</a> opened its doors in 2009, and this boutique condo has enjoyed high demand and low turnover ever since. That hasn&rsquo;t changed, which makes the jaw dropping $589,900 price tag for <a href="https://strata.ca/toronto/263-wellington-west-263-wellington-st-w/unit-1205-c5086490" target="_blank">Unit 1205</a> an absolute steal. The unit offers a generous allotment of space and features hardwood floors and modern appliances. Again, there&rsquo;s wasted space in the hallway/foyer, but you might be able to spruce it up with a colourful gallery wall.The layout is reminiscent of older condo designs, with a separation between the kitchen and the living space &mdash; because of the layout of this particular unit, opening up the kitchen could be a challenge. Buyers yearn for that open, airy feel that most modern condos provide, and that likely played a role in this unit&rsquo;s below average list price.<h2>15 Abell St</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_15_Abell_St_Unit_105.jpeg-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_15_Abell_St_Unit_105.jpeg.jpg"/><img src="https://strata.ca/slate-image/article-images/90/00_15_Abell_St_Unit_105.jpeg.jpg" alt="15 Abell St Unit 105 $ 595,000 2 Bdrm 620Sqft"/></picture>Live/work lofts like <a href="https://strata.ca/toronto/artscape-triangle-lofts-8-38-abell-st" target="_blank">Artscape</a> are hard to come by &mdash; and 2-bedroom live/work lofts are practically unheard of for below $600,000.<a href="https://strata.ca/toronto/artscape-triangle-lofts-8-38-abell-st/unit-105-c5054362" target="_blank">Unit 105</a> is at street level and that will undoubtedly deter buyers. Otherwise, this unit is a knockout by loft standards, featuring soaring exposed concrete ceilings, ductwork, piping, and wall to wall, floor to ceiling windows. Hardwood floors and a lavishly finished kitchen completes the home, though, prep space is limited.Note &mdash; this loft has three quarter walls separating bedrooms from the living space, and that means very little noise mitigation within the unit.<h2>435 Richmond St W</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_435_Richmond_St_WUnit_309.jpeg-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_435_Richmond_St_WUnit_309.jpeg.jpg"/><img src="https://strata.ca/slate-image/article-images/90/00_435_Richmond_St_WUnit_309.jpeg.jpg" alt="435 Richmond St W Unit 309 $ 595,000 2 Bdrm 600 - 699Sqft"/></picture>It&rsquo;s perhaps a little surprising to find a unit from <a href="https://strata.ca/toronto/fabrik-condos-435-richmond-st-w" target="_blank">Fabrik Condos</a> on this list, given the building&rsquo;s positive reputation and its Fashion District locale; increased activity for 1 + 1 units at lower price points could be a contributing factor. Nonetheless, <a href="https://strata.ca/toronto/fabrik-condos-435-richmond-st-w/unit-309-c5086523" target="_blank">Unit 309</a> is up for $599,000.Unlike the previous entries, this unit comes with 2 bathrooms and an ultra modern layout; that might be an issue for some; the interior bedroom is exposed to the living space with only a sliding glass wall for separation. The unit is however quite narrow for a 2-bedroom layout.<h2>The King Towns</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_15_Laidlaw_StUnit_624.jpeg-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/90/00_15_Laidlaw_StUnit_624.jpeg.jpg"/><img src="https://strata.ca/slate-image/article-images/90/00_15_Laidlaw_StUnit_624.jpeg.jpg" alt="15 Laidlaw St Unit 624 $ 599,000 2 Bdrm 830Sqft"/></picture><a href="https://strata.ca/toronto/king-towns-condos-10-28-laidlaw-st-20-machells-ave-50-80-joe-shuster-way/unit-624-w5075442" target="_blank">Unit 624</a> is on the market for $599,000 &mdash; in large part because the unit is slightly below street level, but nobody would confuse this with a basement apartment. Of the units featured, <a href="https://strata.ca/toronto/king-towns-condos-10-28-laidlaw-st-20-machells-ave-50-80-joe-shuster-way" target="_blank">The King Towns</a> is likely the best value buy for a small family.This spacious 2-bedroom townhome offers 830 square feet of living space and a very functional layout. The kitchen is open to the unit and features a breakfast bar and updated appliances. One knock for this home &mdash; it only has a single bathroom and it&rsquo;s a touch small.Between its incredible location on the border of Liberty Village and Parkdale and the private community feel of the complex, count on this one selling fast.STRATA.CA is a real estate website that provides data for every single condominium in the Greater Toronto Area. By offering access to up-to-date analytics and innovative search tools, buyers and sellers can find and compare listings online &mdash; with a team of STRATA.CA real estate experts just a click away.

2 Bedroom Condos Under $600,000 in Downtown Toronto

Unlike our previous <a href="https://strata.ca/blog/the-10-most-sought-after-toronto-condos" target="_blank">The 10 Most Sought-After Toronto Condos</a> post from last year, this year we thought we&rsquo;d try something a little different: The Best Condos for Riding Out The Apocalypse! Oops, that&rsquo;s the 2022 version. We&rsquo;ll try that again: The Most Popular Condos in 10 of Toronto&rsquo;s Most Popular Condo Neighbourhoods.To compile this list, we used our algorithm that assess condo demand based on the following three metrics:<ul><li>On average, how much units in a building sell above the list price (in competition among buyers)</li><li>How long units sit on the market before selling.</li><li>The amount of appreciation in value over the past 12 months, as compared to neighbouring condos.</li></ul>The List: The Most Popular Condos in Toronto, By Neighbourhood<h2>King West &mdash; The King Lofts</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/01_800KingStreetWest_King_Lofts_ExteriorFacade-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/01_800KingStreetWest_King_Lofts_ExteriorFacade.jpg"/><img src="https://strata.ca/slate-image/article-images/89/01_800KingStreetWest_King_Lofts_ExteriorFacade.jpg" alt="800 King St W King Lofts"/></picture><a href="https://strata.ca/toronto/the-kings-lofts-800-king-st-w" target="_blank">The King Lofts</a> ranked #1 for King West. It&rsquo;s not the newest or trendiest building in the area, but holds the notable distinction as one of only a handful condos exclusively offering mezzanine loft style layouts. Units in this striking soft loft are bathed in natural light through soaring window walls, and feature exposed concrete ceilings and ductwork, and executive finishes. It&rsquo;s important to note that open concept, mezzanine units can present logistical problems for couples or families with a late night tv watcher or gamer in the home; best to draft those divorce papers in advance.<h2>Bay Street Corridor &mdash; Opera I &amp; II</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_887BayStreet_Opera_Place_I_Condos_889BayStreet_Opera_Place_II_Condos_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_887BayStreet_Opera_Place_I_Condos_889BayStreet_Opera_Place_II_Condos_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/89/00_887BayStreet_Opera_Place_I_Condos_889BayStreet_Opera_Place_II_Condos_Exterior.jpg" alt="887 Bay St Opera Place Condos"/></picture><a href="https://strata.ca/toronto/opera-place-i-condos-887-bay-st" target="_blank">Opera I</a> and <a href="https://strata.ca/toronto/opera-place-ii-889-bay-st" target="_blank">II</a> might appear cookie cutter on the outside, however, Opera&rsquo;s desirability is a testament to long standing quality. This residence was constructed in the late 90s before the modern condo shrink, so residents have more legroom than most of their Bay Street neighbours. Finishes vary based on past renovations, but buyers can bank on modern and spacious suites, quality construction, excellent amenities, and below average condo fees &mdash; an indication of great management.<h2>Cityplace &mdash; Library District</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_170FortYorkBoulevard_Library_District_Condos_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_170FortYorkBoulevard_Library_District_Condos_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/89/00_170FortYorkBoulevard_Library_District_Condos_Exterior.jpg" alt="179 fort york boulevard"/></picture>Interestingly, the top ranking condo in the Cityplace neighbourhood was actually not built by Concord Development, who built the overwhelming majority of the condos in Cityplace. <a href="https://strata.ca/toronto/library-district-170-fort-york-blvd" target="_blank">The Library District</a> is the work of <a href="https://www.context.ca/" target="_blank" rel="nofollow">Context.ca</a>, the same developers behind the acclaimed <a href="https://strata.ca/toronto/the-loretto-385-brunswick-ave" target="_blank">Loretto</a>, and the <a href="https://strata.ca/toronto/market-wharf-3-market-st" target="_blank">Market Wharf</a>. While Context is a moderately reputable (and prolific) developer in the Toronto area, it hasn&rsquo;t completed any buildings quite as notable as those in Contexts&rsquo; portfolio.Suites at the Library District feature executive finishes &mdash; hardwood flooring and granite counters &mdash; and floor to ceiling windows. When you add in the extensive offering of amenities and the urban location, you end up with a very desirable condo.<h2>The Annex &mdash; One Bedford</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_1BedfordRoad_One_Bedford_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_1BedfordRoad_One_Bedford_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/89/00_1BedfordRoad_One_Bedford_Exterior.jpg" alt="One bedford Rd"/></picture>The Annex has long served as one of Toronto&rsquo;s most popular neighbourhoods for local celebrities &mdash; <a href="https://strata.ca/toronto/one-bedford-1-bedford-rd" target="_blank">One Bedford</a> is home to Mayor John Tory. The building&rsquo;s demand is easily understood; it has a great developer behind it in <a href="https://lanterradevelopments.com/" target="_blank" rel="nofollow">Lanterra</a>; luxurious finishes and spacious layouts; well maintained amenities that include an indoor pool; a Starbucks on the ground floor and the ROM just across the street.<h2>Yorkville &mdash; 15 Mcmurrich St</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_15McMurrichStreet_15_McMurrich_Street_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_15McMurrichStreet_15_McMurrich_Street_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/89/00_15McMurrichStreet_15_McMurrich_Street_Exterior.jpg" alt="15 McMurrich St"/></picture>Upon first glance you might wonder; why did someone build a brick mushroom?To be blunt, <a href="https://strata.ca/toronto/15-mcmurrich-st-15-mcmurrich-st" target="_blank">15 Mcmurrich St</a> is a big, ugly, block, hiding incredible value. Units at 15 Mcmurrich sell for roughly $450 less per square foot than the average Yorkville condo. Yes, $450 PSF! As well, suites sizes are gigantic &mdash; the smallest unit is just a hair under 1100 square feet &mdash; and there&rsquo;s only 103 units spread over 15 floors.The condo being exclusive (low turnover) and offering excellent value is likely what secured its&rsquo; #1 spot in the Yorkville area.<h2>West Queen West &mdash; District Lofts</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_388RichmondStreetWest_District_Lofts_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_388RichmondStreetWest_District_Lofts_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/89/00_388RichmondStreetWest_District_Lofts_Exterior.jpg" alt="388 Richmond St"/></picture>The <a href="https://strata.ca/toronto/district-lofts-388-richmond-st-w" target="_blank">Districts Lofts</a> is a European-inspired soft loft, featuring an interior courtyard and a touch of industrial flare; that&rsquo;s probably enough to sell every unit in the building. Though, prices are slightly above the neighbourhood average, they&rsquo;re quite affordable by loft standards, and condos fees are roughly average.District Lofts is situated at 388 Richmond St W in the West Queen West area, just steps from shopping, dining, and public transit.<h2>Yonge &amp; Eglinton &mdash; Redpath Residences</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_188RedpathAvenue_Redpath_Residences_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_188RedpathAvenue_Redpath_Residences_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/89/00_188RedpathAvenue_Redpath_Residences_Exterior.jpg" alt="188 Redpath Ave"/></picture><a href="https://strata.ca/toronto/redpath-residences-188-redpath-ave" target="_blank">Redpath Residences</a> is an 8-storey boutique condo offering great value in Yonge and Eglinton. There&rsquo;s nothing flashy about 188 Redpath Ave, other than the fact that units in this building sell for about $250 less per square foot than the neighbourhood average. Suites feature open concept layouts and modern finishes. Turnover is extremely low. What&rsquo;s not to like?<h2>Liberty Village &mdash; Toy Factory Lofts</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/03_43HannaAvenue_Toy_Factory_Lofts_Patio-600.jpg " media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/03_43HannaAvenue_Toy_Factory_Lofts_Patio.jpg "/><img src="https://strata.ca/slate-image/article-images/89/03_43HannaAvenue_Toy_Factory_Lofts_Patio.jpg " alt="43 Hanna Ave Toy Factory Lofts"/></picture>What can we say that hasn&rsquo;t been said already? The <a href="https://strata.ca/toronto/toy-factory-lofts-43-hanna-ave" target="_blank">Toy Factory Lofts</a> is the hallmark of the luxury hard loft. Vintage exposed brick walls, ductwork, and tongue and groove ceilings contrast with hardwood floors and gourmet kitchens. The exterior retains the factory look and the carpeted hallways feel like a vintage cinema.The Toy Factory is undoubtedly the most desirable condo in Liberty Village, which is why units rarely last on the market.<h2>Parkdale &mdash; Q Loft</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/Q_lofts_toronto_1205_queenst-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/Q_lofts_toronto_1205_queenst.jpg"/><img src="https://strata.ca/slate-image/article-images/89/Q_lofts_toronto_1205_queenst.jpg" alt="1205 Queen St Q Lofts"/></picture>Units at the <a href="https://strata.ca/toronto/q-loft-1205-queen-st-w" target="_blank">Q Loft</a> sell for more than the Parkdale average and condo fees are significantly higher than average too &mdash; and yet it scored as #1 for the area. While Q Lofts&rsquo; price per square foot is higher than the neighbourhood average, it&rsquo;s low for a loft. It&rsquo;s also a low-rise with only 70 units and 8 storeys &mdash; and therein lies the desirability: A relatively affordable boutique soft loft that&rsquo;s near to everything.<h2>Leslieville &mdash; The Taylor Lofts</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_1238_Dundas_Street_East_Exterior-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/89/00_1238_Dundas_Street_East_Exterior.jpg"/><img src="https://strata.ca/slate-image/article-images/89/00_1238_Dundas_Street_East_Exterior.jpg" alt="1238 Dundas St E the Taylor Lofts"/></picture>Nothing to see here folks &mdash; just another stunning boutique loft from <a href="https://streetcar.ca/" target="_blank" rel="nofollow">Streetcar</a>, who brought you the renowned <a href="https://strata.ca/toronto/the-vinegar-lofts-19-river-st" target="_blank">Vinegar Lofts</a>. Suites at the Taylor Lofts are consistent with many other high end soft lofts; blending industrial features with executive finishes. The price per square foot is above the Leslieville average, but boutique soft lofts from elite developers are hard to come by.<h3>Final thoughts</h3>Spotting a trend? Us as well. A consistent theme throughout this list is that buyers desire boutique residences, with low turnover, and loft features &mdash; even if they&rsquo;re selling at higher prices than their neighbouring counterparts. Or alternatively, the market is gravitating toward excellent value, particularly in areas where value is sparse.

Most Popular Condos in Toronto, By Neighbourhood

Saving for a down payment can feel daunting &ndash; especially in a city like Toronto. It&rsquo;s entirely possible to save up enough to purchase a home, however, as long as you&rsquo;re proactive about it.Confused about exactly how much you&rsquo;ll need to save? You&rsquo;re not alone. For a purchase price of up to $500,000 you can put down as little as 5%, and for homes between $500,000 and $999,999 you will have to provide a minimum of 10% on the portion over $500,000. The down payment on a home that costs over $1 million is much more steep: buyers will have to fork up 20% on the entire purchase price. This means the minimum down payment for a $400,000 home is $20,000, while a buyer will have to put down a minimum of $65,000 for a home that costs $900,000, and $400,000 for a $2 million home.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/downpayment_structure_final-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/downpayment_structure_final.png"/><img src="https://strata.ca/slate-image/article-images/87/downpayment_structure_final.png" alt="Strata deposit structure"/></picture>To complicate matters further, the Canada Mortgage and Housing Corporation (CMHC) also plays a role in what a buyer may choose to put down. Anyone with a high ratio mortgage (less than 20%) will have to pay insurance through CMHC, and just how much insurance will depend on the percentage of their down payment: the premium for 5% is highest, 10% is slightly lower, and 15% is even lower.If you&rsquo;re buying for the first time, you may also be able to take advantage of the Government of Canada&rsquo;s First-Time Home Buyer Incentive (FTHBI). Introduced in September 2019, the incentive offers 5% of the purchase price of an existing home or 5% or 10% of the purchase price of a newly constructed home. The incentive is really more of a &lsquo;loan&rsquo; that cuts down your monthly mortgage payments, and in return you are expected to repay the government after 25 years or when you resell your home.In order to be eligible for the FTHBI, you must currently meet the following criteria:<ul><li>Your total annual household income must be equal to or less than $120,000</li><li>The value of the home you plan to buy cannot be more than 4 times that of your annual household income</li><li>Either you or your partner must be a first-time homebuyer</li><li>You must be a Canadian citizen, permanent resident or non-permanent resident authorized to work in Canada</li><li>You must meet the minimum down payment requirements with traditional funds (savings, withdrawal/collapse of a Registered Retirement Savings Plan (RRSP), or a non-repayable financial gift from a relative/immediate family member)</li></ul>In order to make the incentive more accessible, however, the government has announced that starting Spring 2021, some of the criteria will change:<ul><li>First-time buyers with household incomes of up to $150,000 will be able to participate</li><li>The home in question will qualify if the value is no more than 4.5 times a buyer&rsquo;s annual household income</li></ul>Regardless of exactly how much you need to save, the Internet has a lot of quirky ideas about how to accomplish your goal. Many of these involve acquiring a metal detector &ndash; but we&rsquo;re not going to send you to any pawn shops. Instead, the following list outlines some of the more realistic routes you can take to save for a new home. It&rsquo;s up to you to decide how big of a leap you&rsquo;re willing to take &ndash; and just like with investments, the more extreme the method, the bigger and faster the payoff tends to be.<h2>Light Commitment, Lower Payoff</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/subscription_services-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/subscription_services.jpg"/><img src="https://strata.ca/slate-image/article-images/87/subscription_services.jpg" alt="Netlfix and video subscriptions"/></picture>Cancel your subscriptions: We would never advise you to cancel all of your subscriptions, but do you really need Netflix and Crave? If the answer is yes, that&rsquo;s fine too. But at the very least, have a look through your bank account and determine how many monthly subscription fees you are paying &ndash; then simply eliminate the ones that matter least to you, or that you haven&rsquo;t used in a while.Sweat the small stuff: Sure, the advice is normally to not sweat the small stuff, but when you&rsquo;re trying to save big, small but frequent purchases can really add up. Instead of buying daily coffees, try making your own at home (or limit your coffee shop visits to once a week); buy books used instead of new (and feel good about supporting local businesses in the process), or better yet, check them out from the library. If you don&rsquo;t tend to spend much on either of these things, figure out what your specific vice is (in terms of spending), and try to cut back as much as you can.Hack your bank account: Within your own bank account, there are a couple of optional settings you should be taking advantage of. The first is to have a portion of each of your paycheques automatically deposited into a savings account (the amount, of course, is up to you). Most major banks will also let you personalize your account to make recurring transfers from your checking account to a savings account (whether you opt to do this once, twice, or four times a month is up to you) or you can have a set dollar amount moved from one account to another every time you make a purchase with your debit card.Don&rsquo;t let your TFSA go to waste: All Canadians 18 years of age and older (and who have valid social insurance numbers) are able to open a Tax-Free Savings Account (TFSA). Many types of investments can co-mingle in your TFSA, including cash, stocks, bonds, mutual funds, and GICs. The major benefit is that growth on anything in this type of account is 100% tax free. There are maximum annual contribution limits, however, so be sure to check with your bank before making any large deposits into a TFSA.Stick to cash: This method takes a little more self-discipline. Once a week, head over to an ATM and take out the amount you&rsquo;re willing to spend that week &ndash; on everything. Then, any time you head out of the house, leave your debit and credit cards and use your cash instead for things like meals, groceries, entertainment, and even larger purchases. This will force you to become more mindful about what you&rsquo;re spending, as you&rsquo;ll start to see and feel your wad of cash diminish as the week comes to a close. Also, be sure to make a rule for yourself about what to do if you run out of money too early in the week (for example no purchases other than absolute necessities like groceries and transportation), as it might take some time to get the hang of this new way of life.Give the gift of saving: If you&rsquo;re saving to buy a home with a partner, skip large birthday, anniversary and Christmas gifts, and deposit the money you would have spent into a savings account instead. You can even have fun with this by writing sweet cards to each other about how excited you are to buy a home together.<h2>Medium Commitment, Medium Payoff</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/dreamstime_dogwalking-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/dreamstime_dogwalking.jpg"/><img src="https://strata.ca/slate-image/article-images/87/dreamstime_dogwalking.jpg" alt="Dog walking side hustle"/></picture>Start a side hustle: Life can already feel busy, which is why this method is lower down on our list. That said, if there&rsquo;s something you love to do (or that you&rsquo;re particularly good at), chances are, there&rsquo;s a way to monetize it. Sell your art or home cooking, restore and resell antiques, offer childcare, pet sitting or dog walking services &ndash; the options are pretty well endless here.Change up your transportation: This is more of a commitment primarily because it involves making a significant lifestyle change. If you have two cars, size down to one; if you have one (and if it makes sense geographically), switch to biking or walking, or find someone to carpool to work with. And bonus points if getting rid of a car means not having to pay for parking, or being able to rent out your parking spot to someone else.<h2>Big Commitment, Big Payoff</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/dreamstime_boxes_moving_out-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/dreamstime_boxes_moving_out.jpg"/><img src="https://strata.ca/slate-image/article-images/87/dreamstime_boxes_moving_out.jpg" alt="Downsizing homes packing boxes"/></picture>Downsize: If you don&rsquo;t necessarily need all the space you currently have, consider moving to a smaller apartment in order to save on rent. This would be temporary, of course, as the end goal is to purchase a home. Reducing your rent by even $200 a month can make a huge difference in the speed at which you can save for a down payment. Better yet, you may be able to stop paying rent entirely if it&rsquo;s feasible (and comfortable) to stay with relatives for a short time.Bunk up: Have an extra bedroom that you&rsquo;ve been using as an office or home gym? If you can give up that extra space for a while and rent it out to a roommate instead, you&rsquo;ll be able to cut your rent right in half without having to move a muscle.

Creative Ways to Save for Your Down Payment

If you live in a condo you know all too well the struggle of noisy neighbours.Whether it be above, below or beside you, it can sometimes be hard to enjoy a quiet evening at home when someone is screaming at their Xbox or cranking Dubstep at 1 am on a Tuesday.Maybe you have to deal with what sounds like an amateur bowling league above your head at 4 am or you have one of those couples upstairs who like to have really loud fights and even louder make-ups.Whatever your noisy neighbour situation might be, we get it and we&rsquo;re here to help because wearing earplugs 24/7 is no way to live!So how can you soundproof your condo so that you can go back to pretending you don&rsquo;t have annoying neighbours? Soundproofing.Yes, my friends, you need to soundproof your apartment.Okay so quick sound 101 lesson: sound is a form of energy that travels in waves away from the source. It causes vibrations, which eventually reach your ears and then a bunch of stuff happens in your brain to translate those vibrations into the annoying sound of Judy vacuuming at 8 am on a freakin&rsquo; SUNDAY!So to stop the vibrations from reaching your ears you need interrupt the chain of events.And since you can&rsquo;t stop Judy from her incessant cleaning habits you need to stop it in another way.<blockquote>The best way to stop sound travelling through your walls is to build it into the walls, ceilings and floors. There&rsquo;s soundproof drywall and soundproofing insulation that can significantly reduce the amount of noise.</blockquote><h2>Treat yourself</h2>The best way to stop sound travelling through your walls is to build it into the walls, ceilings and floors. There&rsquo;s soundproof drywall and soundproofing insulation that can significantly reduce the amount of noise.The catch is that in addition to the cost of renovating or building, the materials are super pricey. For example, soundproof drywall can cost up to six times more than regular drywall.But if you&rsquo;re willing to splurge your condo will be as quiet as a monastery!Just to give you an idea of how well it works, soundproofing is measured by a sound transmission class (STC) rating. A rating of 40 is considered to be soundproof but soundproof drywall has a rating between 50 and 55. At this rating, you can&rsquo;t hear someone talking through the wall at all. Ahhh peace and quiet!This is because the soundproof drywall is made up of gypsum that is layered with other materials like plastic or glue to create really stiff drywall. The stiffer the drywall is, the less it vibrates and the less sound travels through it.Soundproofing insulation can be installed to take care of the sound that comes from the ceiling or floor, because sound doesn&rsquo;t just travel sideways.The insulation is usually made up of a type of foam that has tiny air cells in it. When the vibrations travel through the air and hit the tiny cells they dissipate and the energy is transformed from sound energy to heat energy, thus reducing the amount of noise you hear.<h2>Middle of the road</h2>If you&rsquo;re not renovating or building from scratch there are some other options that will also help dampen the cacophony coming from your neighbours. They&rsquo;re not dirt cheap but they also won&rsquo;t break the bank either.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/43/noisy-neighbours-how-to-soundproof-your-condo-on-any-budget4-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/43/noisy-neighbours-how-to-soundproof-your-condo-on-any-budget4.jpeg"/><img src="https://strata.ca/slate-image/article-images/43/noisy-neighbours-how-to-soundproof-your-condo-on-any-budget4.jpeg" alt="meditation"/></picture>The idea is to make the wall heavier so they vibrate less, which means you need to add things to the wall or floor or ceiling that will do that.There are a few options here. The best is probably <a href="https://www.amazon.ca/Loaded-Vinyl-Square-Acoustic-Barrier/dp/B008JHE1P6/ref" target="_blank">Mass Loaded Vinyl</a> or MVL because it's heavyweight it can stop things from vibrating as much. It can be added on top of existing walls and if you put this up with <a href="https://www.homedepot.ca/product/green-glue-noise-proofing-compound/1000837170" target="_blank">these ones</a>. But these just absorb sound, they don&rsquo;t block it.<h2>Student budget</h2>Now if you&rsquo;re extra broke and the above options aren&rsquo;t in your budget, fear not, there are still a couple of things you can do!First and foremost, seal up any holes where sound could get in. Places like: under doors, around light fixtures, around your windows etc. You want to make sure there are no gaps where sound can leak in.Also add things like carpet, thick curtains and lots of soft things around your apartment to absorb sound.For extra sound absorption, you can hang moving blankets on your wall, but it&rsquo;s not really the most effective or eye-pleasing way to try and create an oasis of silence.If you&rsquo;re willing to get your hands a little dirty and be crafty you can make your own soundproof drywall panels that will help block sounds.While using soundproof drywall around an entire room is expensive, one sheet of drywall is only about <a href="https://www.lowes.com/pd/QuietRock-Common-1-2-in-x-4-ft-X-8-ft-Actual-0-5-in-x-4-ft-x-8-ft-500-Drywall-Panel/3069747" target="_blank">60 dollars</a>, so you can buy one and create some panels that look like art on your walls. You just need a sheet of drywall, a picture frame and some wallpaper or paint.Once you assemble it you can hang it up on your wall to help silence whatever Judy is doing over there.But if all else fails, we at Strata can always help you find a new condo with less noisy neighbours!

Noisy neighbours? How To Soundproof Your Condo On Any Budget

Full disclosure &mdash; as someone who specializes in condos, I have a horse in this race. For years, I&rsquo;ve watched people reluctantly enter the condo market, having abandoned their dreams of owning a large house with a big backyard. It always struck me how these clients had no idea how much of a positive impact this choice would have on the environment&hellip; and frankly at the time, I didn't know either.People typically associate pollution with congested traffic, high-density neighbourhoods, eating meat (more recently) and the downtown core in general, but is that assessment accurate? And does the average weekend warrior in Liberty Village leave the same footprint as a commuting professional in the suburbs?I wish I could say that I&rsquo;m a realtor by day and a climate scientist by night, but I&rsquo;m forced to rely on the information that&rsquo;s available. What I found were two independent studies that suggested a correlation between where someone lived and their carbon footprint.<h2>What the data shows</h2>My search led me to a 2010 paper by Lorraine Sugar and Dan Hoornweg on Greenhouse Gas Emissions in Toronto, which established a link between where people lived and their emission of greenhouse gases. The paper cited Whitby as having the worst per capita consumption in the Metropolitan Toronto area with 13.02 tonnes per capita (carbon dioxide emissions per person).This clearly contrasts with an area like East York, which is removed from the downtown core but has a relatively large supply of apartment complexes, resulting in just 1.31 tonnes per capita. While public transit likely accounts for a lower carbon footprint in East York, this fact also implies that the type of dwelling is also playing a role.These conclusions aren&rsquo;t limited to Toronto &mdash; or Canada for that matter &mdash; supporting evidence can be found in a UC Berkeley study in 2013 which yielded similar results in the US: large urban areas typically have low emissions per person, while the suburbs surrounding those areas often have substantially higher emissions. UC Berkeley&rsquo;s <a href="https://coolclimate.org/maps" target="_blank">CoolClimate Map</a> illustrates this point by mapping the greenhouse gases for the whole of the United States.In both cases, transportation and heating were identified as the major causes of higher emissions. While this provides excellent guidance for how to reduce greenhouse gases, it doesn&rsquo;t address one burning question: Would a condo resident in the suburbs (requiring a commute to work) have the same impact on the environment as someone living in a detached home in the suburbs?<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/42/bright-bulb-close-up-1108572-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/42/bright-bulb-close-up-1108572.jpg"/><img src="https://strata.ca/slate-image/article-images/42/bright-bulb-close-up-1108572.jpg" alt="green-idea"/></picture><h2>Are Condos Better for the Environment than Houses?</h2>There are very few careers that will get you invited into a person&rsquo;s home on a regular basis &mdash; real estate is one of them. I&rsquo;ve had plenty of opportunities to see the difference between living arrangements for condo residents and those with a detached house, and it&rsquo;s obvious to me that people who live in large houses have a substantially larger carbon footprint than condo residents. And not just due to just the inevitable commute to work.A detached house in the suburbs comes with a larger layout than your average downtown Toronto condo; often featuring a longer and linear floor plan in most modern buildings.From my experience, buyers don&rsquo;t purchase large houses for empty rooms. Whether it&rsquo;s a home gym or a media centre, people find uses for open space, and those uses often lead to additional electronics. More space means more energy &mdash; light, heat, and all the toys that come with it. But it's not just what&rsquo;s inside the home, it&rsquo;s also the exterior lighting, home security systems and landscaping.These conclusions are supported by data &mdash; a 2007 Statistics Canada survey clearly demonstrates a trend of increasing consumption corresponding to increased square footage. <a href="http://oee.nrcan.gc.ca/publications/statistics/sheu-euiod07/pdf/sheu-euiod07.pdf" target="_blank">2007 Statistics Canada: Energy Use Inside and Outside</a>Going forward, rising housing prices will ensure that more buyers in the GTA spill over into the condo market. However, some of these buyers will land in ageing condo buildings from the 70s and 80s. So how does the government plan to address these issues? And what will be done to ensure that older condo buildings are energy efficient?<h2>TransformTO</h2>Diverging from the two studies presented &mdash; a 2016 Toronto Greenhouse Gas Emissions Inventory reported buildings as the largest emission polluters, ahead of transportation; however, these figures included industry.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/42/toronto-emissions-breakdown.png-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/42/toronto-emissions-breakdown.png.jpg"/><img src="https://strata.ca/slate-image/article-images/42/toronto-emissions-breakdown.png.jpg" alt="toronto-emissions"/></picture>TransformTO plans to reduce greenhouse gas emissions by 80% by 2050, based on 1990 levels. The strategy covers an array of issues, but I wanted to focus on how this will address emissions relating to housing. TransformTo will attempt to do this by:&middot; Ensuring that all new buildings emit zero greenhouse gases by 2030&middot; Retrofit all existing buildings by 2050 in order to reduce emissions by 40 percent.<h2>The Takeaway</h2>TransformTO will bring much-needed action to help address building emissions, but these changes will do little to curb the emissions from large suburban homes, as this responsibility will ultimately be that of the homeowners.Nobody wants to spend their days thinking about how to reduce their carbon footprint &mdash; especially not when it means cutting back on the things we enjoy. But there&rsquo;s one easy way to reduce your impact on the planet and it doesn&rsquo;t require you to stop binging your favourite show: consider the benefits to high-density living.<h3>Citations</h3>&middot; Statistics Canada, 2007 Survey of Household Energy Use &ndash; Supplemental Report&middot; Christopher M. Jones and Daniel M. Kammen, Spatial Distribution of U.S. Household Carbon Footprints Reveals Suburbanization Undermines Greenhouse Gas Benefits of Urban Population Density. Environ. Sci. Technol., 2013, dx.doi.org/10.1021/es4034364&middot; Daniel Hoornweg, Lorraine Sugar, Claudia Lorena Trejos G&oacute;mez; Cities and greenhouse gas emissions: moving forward.&middot; https://coolclimate.org/maps

The Great Carbon Debate: Are Condos Better for The Environment Than Houses?

<h2>Combining Condo Units: If Deadmau5 did it, why can&rsquo;t I?</h2>A story about Deadmau5, the very talented Canadian DJ, is now a precautionary tale. But this one isn&rsquo;t for youngsters or about listening to loud techno music &mdash; it&rsquo;s for condo and loft owners who want to combine multiple units...<blockquote>If you&rsquo;re really set on a specific building, and if you really need the extra space, buying two units and creating one home out of them is sometimes the only viable option.</blockquote>On June 2015, Joel Zimmerman, more commonly known as Deadmau5, listed his home at the <a href="https://strata.ca/toronto/155-dalhousie-st-the-merchandise-lofts">Merchandise Lofts</a> for $2.5 million. Almost a year later, on April 28, 2016, the loft was sold for $1,650,000. The loft consisted of two penthouse units, combined to make a 3,000 square foot crash pad and music studio.While he had created a stunning unit at (likely) considerable expense, the moral of this story is that combining multiple units doesn&rsquo;t always pay off. Particularly in a loft where the combined units become the largest unit in the building. As they say, you don't want to be the largest house on the block.That said, if you&rsquo;re really set on a specific building, and if you really need the extra space, buying two units and creating one home out of them is sometimes the only viable option.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/27/can-i-combine-condo-units-in-toronto-real-estate-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/27/can-i-combine-condo-units-in-toronto-real-estate.jpg"/><img src="https://strata.ca/slate-image/article-images/27/can-i-combine-condo-units-in-toronto-real-estate.jpg" alt="null"/></picture><h2>Option 1: Pre-Plan</h2>One option for those looking to combine multiple units is to do so before the actual construction occurs. In fact, many developers are open to changing floor plans around for this type of buyer, especially since the tendency to combine units is becoming more and more prevalent.One obvious benefit to taking this route is that layouts wind up feeling better thought out: floor plans can be adjusted prior to construction in order to optimize living conditions.If the major drawback to combining existing units is the possibility of an awkward setup (think kitchen beside bedroom with dining room all the way down the hall), then pre-construction combinations certainly offer a solution.<h2>Option 2: Look to the Lofts</h2>Hard lofts are a great starting place when looking for a place that will accommodate a post-construction renovation of this stature, whereas many of the more contemporary condos simply can&rsquo;t bare the weight involved in removing entire walls.The dividing walls found in hard loft conversions, on the other hand, have been added after the initial construction of the building, meaning that removing them will likely have no impact on the structure&rsquo;s overall stability.That said, this process still involves obtaining approval, which can be either time consuming or expensive, or worst of all, both. It can, however, result in a large, beautiful, customized loft for you to call home.<h2>Weighing the Pros and Cons</h2>Clearly, combining multiple units is a complicated matter. One of the greatest complications is purchasing the off-market unit next to the actively listed unit, from an owner who likely has no interest in selling. From our experience, you often have to pay above market to persuade the owner who isn&rsquo;t in the market. With the right budget though, it is certainly possible.

Can I Combine Condo Units in Toronto?

Bjarke Ingels, aka 'BIG', might be the push to the community-based architecture that the Toronto skyline has been eluding to for years. With his proposed design for 489-539 King West, he may just add the more-livable, community-driven style that our city has been longing for.Top Toronto architecture blogs have acclaimed that the building being proposed looks like a montage of houses, as opposed to 'just another' condo building.With Bjarke's 45-degree-rotating-grid design combined with a true mixed-used complex he could take the King West corridor to new heights (proverbially &mdash; since his project is only 15-17 storeys). His submitted design would have an open space under the building that encourages pedestrianism at the highest level.<blockquote>With this plan the city is contemplating turning King Street West into a pedestrian-only area with European-style trams &mdash; which would remove the traffic congestion that makes taking the streetcar often slower than walking.</blockquote>The proposed project would create 500 units of living space over 725,000 square feet (these numbers could likely be reduced to appease city planners) with a 'pixelated' look, that would give the project landscape a Mediterranean-mountainscape-turned-modern look. This 'ziggurat'-style structure would feature 5 peaks &mdash; that reach up to 15 - 17 storeys (again, depending on city-planning approval).<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/26/architect-bjarke-ingels-toronto-project-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/26/architect-bjarke-ingels-toronto-project.png"/><img src="https://strata.ca/slate-image/article-images/26/architect-bjarke-ingels-toronto-project.png" alt="null"/></picture>If Bjarke's work looks familiar, his designs have begun to dot the skylines of the world &mdash; and in other parts of Canada. His designs helped sculpt the Vancouver House (winner of the World Architecture Festival's Best Future Residential Project Award last year), and Calgary's Telus Sky Tower.The project has hit some speed bumps though, with review panels noting concern about the treatment of the heritage buildings at that address &mdash; but personally, I hope a reasonable compromise is met and the project is made through review. This would be one major step forward to a more future-oriented, livable city.This visionary project is perfectly situated in King West &mdash; a major employment capital for not only Toronto but Canada as well. And hopefully the jumping off point for the city's Walking Plan 2014-17. With this plan the city is contemplating turning King Street West into a pedestrian-only area with European-style trams &mdash; which would remove the traffic congestion that makes taking the streetcar often slower than walking.While the pedestrian-only conversion and Bjarke project have not been given the green light as of yet, the potential they offer is very exciting indeed. King West condos and lofts have already broken the $800 per square foot mark. In less than a decade King Street could be a major, and much more livable hub, with a visibly different skyline &mdash; which will likely push prices up even higher in the area (for better or worse).

Architect Bjarke Ingels Could Radically Improve Toronto's Livability

Building amenities aren&rsquo;t for everyone. Lower monthly fees are often correlated with less (or a lack of) common amenities, most notably pools and 24/7 concierge (gyms have a very minimal impact on fees). Some people prefer to keep the extra pocket change, while others are unshakably enthralled by the perks that come along with living in certain buildings&mdash;and we don&rsquo;t blame them.For the latter types (or anyone who&rsquo;s curious), we&rsquo;ve rounded up a list of the<h2>Toronto lofts with the most impressive score of amenities:</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/23/best-loft-amenities-in-toronto-list-Art-Condos-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/23/best-loft-amenities-in-toronto-list-Art-Condos.jpg"/><img src="https://strata.ca/slate-image/article-images/23/best-loft-amenities-in-toronto-list-Art-Condos.jpg" alt="null"/></picture><h2>- The Merchandise Lofts: Most Amenities fit into a Hard Loft</h2>Thanks to its enormous size, Cresford Developments had plenty of room to outfit <a href="https://strata.ca/toronto/155-dalhousie-st-the-merchandise-lofts">The Merchandise Lofts</a> with amenities during its conversion in 1999. The 480-unit building, a former warehouse for Simpson&rsquo;s department store at 155 Dalhousie Street, has a pool, sauna, gym, an enormous rooftop patio (with a designated dog walking area), parking, and even an indoor basketball court.<h2>- The Robert Watson Lofts: Best Ratio of Amenities to Homes</h2>While the smaller scale means there&rsquo;s no basketball court to be found at 363-369 Sorauren Avenue, the cozy, 153-unit former candy factory known as the <a href="https://strata.ca/toronto/363-sorauren-ave-robert-watson-lofts">Robert Watson Lofts</a> has just the right amount of perks. Residents can enjoy living in a true industrial conversion, plus they have access to a gym, party room, meeting room, ample parking, and a rooftop patio with barbecues.<h2>- DNA 3 Condos: Most Unique Amenity</h2>Canderel Stoneridge literally made it rain when they created these soft lofts at <a href="https://strata.ca/toronto/1030-king-st-w-dna-3-condos">1030 King Street West</a>. The building is equipped with a rain room&mdash;a cost-efficient way of keeping residents cool during summer months. Rather than charge higher maintenance fees for the upkeep involved with a swimming pool, the rain room is cheaper to maintain, and possibly even more fun.<h2>- The Thompson Residences: The Lofts that make Everyday feel like Vacation</h2>Peter Freed&rsquo;s soft lofts at <a href="https://strata.ca/toronto/629-king-st-w-thompson-residences">621-629 King West &amp; 38 Stewart Street</a> are more than just homes. Homeowners living at the Thompson Residences have access to a state-of-the-art gym and yoga studio, a conference room, and a concierge service available 24 hours a day. On top of all this, they have VIP access to the amenities at the Thompson Hotel (just around the corner), which includes a rooftop bar, lounge, and infinity pool. Plus, when residents feel like living it up, they can call up the room service, house keeping, or laundry services used by hotel guests.<h2>- Art Condos: Most Millennial-Minded Amenities</h2>Built in 2013, these soft lofts at <a href="https://strata.ca/toronto/8-dovercourt-rd-art-condos">8 Dovercourt Road</a> feature some of the most ground-breaking and eco-friendly amenities we&rsquo;ve ever seen. Besides the loading dock that doubles as an event venue (go figure), the building also features a green roof and charging facilities for electric cars. Oh, and did we mention the Art Condos also have a movie theatre, games room, rooftop terrace, hot tub, barbecues, and a gym?As you can see, many of the buildings on this list are soft lofts. This is because hard loft conversions, authentic and character-filled as they may be, don&rsquo;t always have the space for the same &ldquo;extras.&rdquo; Developers can pre-plan with modern homeowners in mind when designing soft lofts, meaning they can ensure there is ample space for more than just homes. That said, amenities are a personal preference and some simply find them frivolous.For those who can&rsquo;t live without both historicism and the comfort of added amenities, authentic conversions like the <a href="https://strata.ca/toronto/363-sorauren-ave-robert-watson-lofts">Robert Watson Lofts</a> and the <a href="https://strata.ca/toronto/155-dalhousie-st-the-merchandise-lofts">The Merchandise Lofts</a> offer an important lesson: if you do enough digging, you never know what you might find.

Best Loft Amenities in Toronto

Lofts all over the world have developed and matured over time, in small, incremental steps. Today, they are among the most desired real estate money can buy, particularly lofts in Toronto and other major cities.Technically, a loft isn&rsquo;t all that different from a condo building. Both involve buying a property in a building that is home to other properties. Both involve property managers, a condo board, maintenance fees, and in many (but not all) cases, amenities.<blockquote>The first area to see industrial buildings converted into residences was Bloor West, in the 1980s.</blockquote>What does set the class of buildings known as lofts apart from condos, then, is their distinctive style. And just as humans have evolved slightly differently than other species, lofts have also taken their own unique journey in order to become the sought-after homes they are today.It&rsquo;s worth noting that lofts aren&rsquo;t for everyone. Not everyone romanticizes exposed brick, concrete pillars or wooden beams. However there is certainly a considerable amount of demand for that rustic, bohemian style. So much so that conversion lofts are notably more expensive than their more traditional condo counterpart.<h2>From Paris&hellip;</h2>As many fashionable trends do, lofts originated in Paris. Artists needed the space to make oversized paintings, and were able to take advantage of high ceilings found in formerly industrial spaces to do so.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/21/paris-buildings-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/21/paris-buildings.jpg"/><img src="https://strata.ca/slate-image/article-images/21/paris-buildings.jpg" alt="null"/></picture><h2> &hellip;to New York City&hellip;</h2>Bohemian types living in New York City continued the trend, with lofts really catching on in NYC in the 40s and 50s, and mainly in SoHo (previously a manufacturing area).No one at this time needed large spaces for oversized canvases more than Jackson Pollock and Willem de Kooning. One particular loft in Greenwich Village quickly became a hub for these two and their Abstract Expressionist pals.While spaces like this and Andy Warhol&rsquo;s Factory seem glamorous to us now, they weren&rsquo;t all that posh at the time. Up until the 1970s, the illegal status of lofts meant a lack of basic things like hot water, and more importantly, a lack of safety. While artist-tenants got away with paying little to no rent, they were considered squatters living in dangerous areas.In the 70s, however, a shift occurred. The people had spoken, and the popularity of lofts had forced the city to change its ways. Previously commercially-zoned spaces were re-zoned as residential.Once legitimized, lofts became officially viable options, and people loved the idea of something different from the standard condo. Trend-setting Manhattanites caught on quickly to this trend, but not for reasons anyone might guess.The white cube art gallery as we know it was inspired by these lofts. When Betty Parsons opened a gallery in 1946, hers was the first to move away from carpeted floors and dark walls, with paintings in elaborate frames. Instead, she embraced the bare, white, undecorated, loft aesthetic that matched the environments in which the art had been made. As wealthy art buyers came to see art in these spaces, they began to desire the same aesthetic for their own homes.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/21/new-york-buildings-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/21/new-york-buildings.jpg"/><img src="https://strata.ca/slate-image/article-images/21/new-york-buildings.jpg" alt="null"/></picture><h2>&hellip;to Toronto</h2>Lofts took off a little bit later in Toronto. The first area to see industrial buildings converted into residences was Bloor West, in the 1980s. <a href="https://strata.ca/toronto/8-bartlett-ave-the-bartlett-lofts">6 Bartlett Ave</a> was one of the first <a href="https://strata.ca/blog/the-hard-facts-on-hard-lofts">hard lofts</a> in the city, converted in 1985 from a former factory that once housed a twine mill, an auto garage and a manufacturer of fishing tackles.Throughout the 80s and 90s, the majority of buildings that could be converted were made into lofts, satiating the new desire for these unique living spaces. Once the majority of possible spaces had been converted, developers were left with no choice but to build condos that would emulate the traditional loft aesthetic. These are now commonly referred to as &lsquo;soft lofts.&rsquo;<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/21/toronto-lofts-buildings-history-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/21/toronto-lofts-buildings-history.jpg"/><img src="https://strata.ca/slate-image/article-images/21/toronto-lofts-buildings-history.jpg" alt="null"/></picture>Many of these contemporary soft lofts feel and look like conversion lofts, so that those unable to find or afford an available hard loft still have options. Today, very seldom does a factory or industrial space close, resulting in a new hard loft conversion opportunity. Soft lofts are certainly not all created equal (as is the case with hard lofts), however for those unwilling or unable to wait for a conversion, soft lofts are a great option to explore. Check our article on <a href="https://strata.ca/blog/the-most-affordable-lofts-in-toronto-our-top-picks">the most affordable lofts in Toronto</a>.This is just my opinion, but based on what I've observed in the Toronto loft market as of late, the most popular hard lofts include the <a href="https://strata.ca/toronto/637-lake-shore-blvd-w-tip-top-lofts">Tip Top Lofts</a>, the <a href="https://strata.ca/toronto/993-queen-st-w-the-candy-factory-lofts">Candy Factory Lofts</a>, the <a href="https://strata.ca/toronto/183-dovercourt-rd-the-argyle-lofts">Argyle Lofts</a>, the <a href="https://strata.ca/toronto/1100-lansdowne-ave-foundry-lofts">Foundry Lofts</a>, and the <a href="https://strata.ca/toronto/363-sorauren-ave-robert-watson-lofts">Robert Watson Lofts</a>.

The Evolution of Lofts in Toronto

<h2>Where does the cash actually come from?</h2>Some portion of a building&rsquo;s monthly fees is put away into the equivalent of a piggy bank, and this is known as the reserve fund. As we said, a portion is saved, meaning this is not equivalent to all the money received through monthly maintenance fees.The regular budget makes up the remainder of this money, which is used to pay regular monthly costs such as minor repairs, labour (landscaping, cleaning, snow removal), and heating and electricity for common areas.<blockquote>On the whole, a reserve fund is your building&rsquo;s insurance&mdash;and you can rest well knowing it&rsquo;s there. A good Realtor will be able to navigate you through the ins and outs of the buildings and help avoid problems before they occur.</blockquote>The answer to the question is: reserve funds come from homeowners, yet the amount saved for emergencies isn&rsquo;t your choice. Ultimately, the contribution made to a reserve fund is at the discretion of the condo board members (who you elect), and can be a higher or lower percentage of monthly fees depending on the building.<h2>Where does it go?</h2>What a reserve fund covers can be extremely costly, which is why it&rsquo;s hard for a building to save a decent amount while spending at the same time. Even if a larger percentage of monthly fees is put away, one expenditure can put a reserve fund into the red&mdash;and it&rsquo;s mainly a matter of chance.What isn&rsquo;t up for negotiation, however, is that the reserve fund is not for daily use. This is why, although more money in the savings account seems ideal, a building shouldn&rsquo;t put too much away: because something like replacing every window frame in a 300 unit building may not be considered a major repair or replacement under the Condominium Act.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/18/condominium-meeting-toronto-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/18/condominium-meeting-toronto.jpg"/><img src="https://strata.ca/slate-image/article-images/18/condominium-meeting-toronto.jpg" alt="null"/></picture><h2>Risky Business</h2>Reserve funds are difficult to grapple with&mdash;older buildings may have more cash stashed away from saving over a longer period of time, however they also may have less as they have had more major wear and tear to deal with.Brand new buildings, on the other hand, must start with some small fund, based on the Condominium Act. The fund is started by the developer, and the amount is determined by whichever amounts to more: calculating expected long-term repair and maintenance costs or calculating 10 percent of all common expenses other than contributions to the reserve fund.On the whole, a reserve fund is your building&rsquo;s insurance&mdash;and you can rest well knowing it&rsquo;s there. However in determining whether a building has a sufficient reserve fund, and/or was built by a reputable builder, a good and informed realtor will be able to navigate you through the ins and outs of the buildings and help avoid problems before they occur.

Reserve Funds: An Incredible Balancing Act

<h2>Maintenance Fees in Toronto Condos</h2>While it&rsquo;s easy to forget that your monthly fees are going anywhere other than some mysterious black hole or the pockets of board members and building owners, it is important for the building to have a well-padded reserve fund.We&rsquo;ve all come to terms with the fact that a loaf of bread no longer costs a penny. Or at least we hope everyone has. In fact, &ldquo;penny candy&rdquo; from the convenience store now costs five cents apiece. For some reason, though, an annual rise in maintenance fees for condo homeowners still seems unwarranted.<blockquote>When a building&rsquo;s fees increase annually by about the same rate as that of inflation, things have a way of evening themselves out.</blockquote>Currently, as of this writing (August, 2018), condo fees are on average about 60 to 67 cents per square foot in most Toronto condos.<h2>But Where Does it all go?</h2>Of course rising fees seem like a bad idea upon first glance &mdash; people are generally attracted to sales and lower price tags &mdash; but sometimes this type of investment pays off. While it&rsquo;s easy to forget that your monthly fees are going anywhere other than some mysterious black hole or the pockets of board members and building owners, it is important for the building to have a well-padded reserve fund (or safety net).Plus, monthly maintenance fees are actually used for practical matters, such as heating and electricity for common areas, paying maintenance staff, equipment and supplies for both indoor and outdoor maintenance and cleaning endeavours, and so on. Due to inflation and increases in utility fees, it&rsquo;s no surprise that maintenance fees continue to follow suit.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/16/rising-maintenance-fees-in-toronto-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/16/rising-maintenance-fees-in-toronto.jpg"/><img src="https://strata.ca/slate-image/article-images/16/rising-maintenance-fees-in-toronto.jpg" alt="null"/></picture><h2>Inflation Reveals a Reasonable Increase</h2>For fees to increase by the same amount as the rate of inflation is quite typical. Inflation increases the cost of utilities, labour, and supplies &mdash; are all items covered by maintenance fees.<h2>Irresponsible Management of Fees Have Consequences</h2>If the board tries to gratify residents by freezing fees, this puts the building at risk of issuing a &lsquo;special assessment&rsquo; down the road, to make up for the shortfall. A special assessment is when the building needs an infusion of cash to usually address a problem, and bills each unit owner a fixed amount to address it.Special assessments usually only occur when the reserve fund is underfunded. If the board doesn&rsquo;t want to do a special assessment, the only other options are to either take out a loan, or increase the maintenance fees (usually above the standard rate, which can hurt property values). Both of these are bad options.Whatever is going on in a building, if you're dealing with a competent real estate professional, they should be able to determine the state of the building before you purchase a unit. They would do this by assessing (and having your lawyer assess) the condo status certificate, and of course if experienced, would likely know which buildings are reputable and which are not before booking a showing.<h2>Keep Perspective</h2>When a building&rsquo;s fees increase annually by about the same rate as that of inflation, things have a way of evening themselves out. If these fees are going up because the salary for cleaning staff is increasing, your own pay is likely to be rising too. Although it may seem counterintuitive, the worst thing a building can do is not increase maintenance fees enough, and then play catch-up later on.After all, by choosing to purchase a home in a building &mdash; whether a condo or a loft &mdash; you usually understand that you wind up paying more for certain conveniences. While this type of monthly fee is nonexistent in a detached house, you also will never wake up to find your front walk has miraculously been shoveled for you, your trees trimmed, or your windows washed.

Rising Maintenance Fees: How Much is too Much?

<h2>Why Pay Condo Fees at All?</h2>Naturally, no one wants to pay condo fees, just as Canadians would prefer not to pay as much income tax as we do. But of course, with those taxes come many perks, such as free healthcare and education.Condo fees, like income tax, offer many conveniences and security.To put those who pay decently high maintenance fees at some ease, it&rsquo;s worth noting the condo board is a not-for-profit entity, meaning that no matter what the money shelled out by residents, it cannot (legally) be pocketed by anyone. For some additional peace of mind, members of the board are almost always owners within the condo (if not, their role on the board should be highly scrutinized). This makes it in the best interest of board members to maintain the lowest possible condo fees for all.<h2>What Do the Fees Cover?</h2>The contribution of condo fees by all residents is pooled to fund endeavours that can be broken down into four categories. The first are commonly used amenities, which can range from grass cutting and snow removal, to simple fitness facilities, party rooms, guest suites, and parking, to even the more extravagant bowling alleys, tennis courts, media rooms, and pet grooming services (rare but I&rsquo;ve seen one &mdash; I swear).The second type consists of those larger undertakings known as &ldquo;capital projects&rdquo; in the condo world. The term capital project implies an addition or refurbishment that either boosts the value of the building itself or functions as a utilitarian improvement, such as the installation of new energy-efficient windows or gated entry to the condo grounds.The third category &mdash; like taking a hammer to the condo&rsquo;s piggy bank &mdash; is when dealing with unforeseen repairs and deficiencies. For cases such as these, the condo board generally sets aside part of the fees into a designated reserve fund, to be used when necessary.And the fourth category is your utility bill. Most condos cover at least some of your utilities, with the exception of hydro (unless you live in a building built before about 2002).While tremendously low fees are alluring, and sacrificing amenities is painless for some, it would be reckless for a building to operate without a &lsquo;rainy day&rsquo; fund, or more technically speaking, the &lsquo;reserve fund.&rsquo;<h2>Lofts: When Age Plays a Role</h2>Whereas condos are relatively newer constructions, some of the structures that house conversion lofts date all the way back to the late 1800&rsquo;s, making it difficult for developers to create space for shared amenities such as fitness facilities or parking garages.For example, the now residential building at <a href="https://strata.ca/toronto/110-hepbourne-st-hepbourne-hall">110 Hepbourne</a>&mdash;originally an addition to St. Paul&rsquo;s Presbyterian Church&mdash;was built in 1910. While the building&rsquo;s lack of elevators and other facilities can be attributed to its age, this can be a benefit since it maintains the extremely low maintenance for its residents.So while some would prefer to pass up the ability to go bowling without leaving their building, a bit of spy work (i.e. Google searching) regarding the management of a building can be a handy way to prevent future headaches&mdash;especially in those with temptingly low fees.Residents of the <a href="https://strata.ca/toronto/43-hanna-ave-toy-factory-lofts">Toy Factory Lofts</a> in Liberty Village, for example, enjoy exceedingly low condo fees, while taking pleasure in their use of the building&rsquo;s party room, guest suites, visitor parking, exercise room, concierge, and more. The board, after much careful deliberation of the needs of both the residents and the building itself, was able to reduce maintenance fees by 30 percent in 2015.In buildings that can take note from the Toy Factory Lofts, savvy board members have the ability to maintain low fees without compromising too heavily on the amenities that residents know and love.<h2>How to Assess Whether the Fees Are Reasonable</h2>Condo fees usually increase with inflation each year. However generally, 60 to 65 cents per square foot is reasonable for any condo or loft, regardless of location (condo fees shouldn't be influenced by the market or location).In the end, when shopping for the right condo, it&rsquo;s important to work with a realtor who knows the buildings and their history. Have they been subject to recent Special Assessments? Have the fees been increasing above about 3% or 4% per year, and if so, why? A good realtor who specializes in a particular market will know these details, and offer advice accordingly.

Condo Fees: Why Do We Need to Pay Them?

<h2>Concierge Pros</h2>Depending on the building &mdash; its size, demographics, and management &mdash; the duties of a condo concierge may vary greatly. While Hollywood movies might be faulted for creating a few false expectations, condo concierges aren&rsquo;t just hired to sit there and look pretty, either.<blockquote>The various types of security are something to be taken into account when looking to purchase a condo.</blockquote>Concierges do everything from greeting residents and guests as they enter the building to receiving packages for residents. This can set the mood for a condo or loft that, while not entirely necessary, is quite nice.On top of acting as a friendly gatekeeper, the concierge is also responsible for the safety and well being of a building&rsquo;s residents. They are trained in emergency response, and can be the difference between a small incident and a full-blown disaster.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/12/concierge-in-condos-front-desk-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/12/concierge-in-condos-front-desk.png"/><img src="https://strata.ca/slate-image/article-images/12/concierge-in-condos-front-desk.png" alt="null"/></picture><h2>Concierge Cons</h2>While this all sounds good and lovely, condo concierges aren&rsquo;t for everyone. For one, if they&rsquo;re not good, they&rsquo;re bad &mdash; just like how a bad server at a restaurant can ruin the entire experience, only in this case you have to see them every day.Further, a resident who does not understand the roles of their concierge can lead to&hellip;misunderstandings. The last thing someone wants to do is to offend a concierge by asking them to do something that&rsquo;s a far cry from what&rsquo;s in their job description.Another negative to a concierge is the cost. Although you may not think about it every day, you are &mdash; as the owner of a condo &mdash; paying for your concierge via your maintenance fees.<h2>Alternatives to a Costly Concierge</h2>Seeing as the main drawback to having a concierge is the cost, understanding the alternatives is an important step in making an informed purchase.Security Guard: This option is not all that different from a concierge, in that part of your monthly fees will still go toward paying for someone&rsquo;s labour. However, a security guard will usually cost a building less, especially if they only work at night.Phone Entry System: Buzzer systems connected to residents&rsquo; phones are a popular, albeit less personal, alternative. The only real stipulation here is that the responsibility is left to residents themselves to ensure they know who they are letting into the building.Floor Keys: Fobs or key cards are sometimes set up so that they are needed in order to get on a certain floor of a building. This is helpful if a stranger wanders in behind a resident, as they will eventually have nowhere to go.<h2>So, What do you Value?</h2>While we all need to remember that condo concierges aren&rsquo;t there to be our personal assistants, the payoff of slightly higher condo fees include having someone at your beck and call &mdash; when your request is within reason, of course. Some homeowners find this unnecessary, and believe the money may be better spent elsewhere (or just saved).Although it may not be a dealbreaker for someone who falls in love with a unit, the various types of security are something to be taken into account when looking to purchase a condo.

For Buyers