Should you use a realtor when buying a new pre-construction condo? The answer for this is a definite YES. I specialize in helping buyers navigate through the complicated process of buying new condos. There are many pitfalls and disadvantages of buyers going it alone when dealing with the builders’ sales staff. Above all else, realize that the builder’s sales team works for the builder and only the builder. That is where their loyalties lie. They simply have zero interest in protecting you or your rights, or in getting you the best deal or best location within the building. By using a pre-construction condo ...
Pre-Construction Condos: Should You Use a Realtor?
August 1, 2016First-Time Buyers Investing in Real Estate New Construction Projects New Toronto Condos New Toronto Lofts Real Estate Tips Toronto Condo Buyers Toronto Condo Information
How to Jazz Up Your Condo for Sale
August 30, 2015
It’s that time. You have decided you are ready to sell your condo, and make a change to a new place. How can you make yours standout to potential buyers? When listing your condo for sale there are many simple tasks that can increase its value, and attract as many showings as possible. Your goal is to have your condo charm, entice and capture the attention of buyers within the first five seconds of them walking through the door. It doesn’t take much to make a big impact, but most spaces need a refresh before hitting the market. You want to get a good ...
Who is in Charge, the Condo Board or the Property Manager?
January 30, 2015
"The Condominium Act of Ontario clearly states that the board of directors shall manage the affairs of the corporation. The manager’s job is to complete all the duties set out in the management contract. There is no standard contract, as each corporation requires different duties according to size and type of property. Under no circumstances should the board delegate its decision-making functions to the management company. Managers are hired by the corporation for their valuable experience, knowledge and professional advice. Their job is to make recommendations to the board and then carry out the board’s final decisions. Directors are responsible ...
Condo Buyers Should Always Review the Status Certificate
January 26, 2015Toronto Condo News Toronto Condo Buyers Toronto Condo Information Real Estate Tips First-Time Buyers
"Condo ownership has some unique characteristics you should know about before you start your search. And, unlike a house, condos usually have rules restricting the size and types of pets, noise, balcony/patio furniture, decorations and even drapes or flooring material. Find out what’s allowed and what’s not, and be comfortable with those rules when considering a purchase. Another unique aspect of condos is a document called the status certificate with important information about the condo corporation and the specific unit you are interested in. The condo corporation must provide it to you (for a fee of up to $100) when ...
Does it Make More Financial Sense to Own a Condo or Rent an Apartment?
January 13, 2015Investing in Real Estate Toronto Condo Buyers Toronto Condo Information Real Estate Tips First-Time Buyers
"For many people, it is more advantageous to own rather than rent property. Over time, the value of property appreciates, and equity in the property increases as monthly mortgage payments gradually reduce the principal amount of the mortgage. Renters, in contrast, pay a set monthly amount to the owner for use of the space. Instead of building their own equity in the rented property, they are helping the apartment building owner build equity. Things definitely tilt in a property owner’s favour over a longer period, regardless of the economy and periodical market swings. Owners of real estate properties gradually build ...
5 Tips for Maximizing the Square Footage of Your Condo
December 2, 2014New Toronto Condos Toronto Condo Buyers Toronto Condo Sellers Toronto Condo Information Real Estate Tips First-Time Buyers Interior Design
When buying a smaller condo your space is limited. It can be definitely worth it, because of all the amenities in the building and within walking distance. Condos are conveniently located in urban areas that make the lifestyle very enjoyable. Most people think that living in a smaller place is difficult, but that’s just not the case. Furniture designers and interior designers have adapted to the high demand for condo living, and have come up with endless possibilities to maximize your condo's space. Here are 5 tips for maximizing your condo's space: 1) Paint your condo a neutral colour like white, beige, gray, or ivory. Neutral colours allow the ...
How a Couple that Lost Eight Bidding Wars Finally Nabbed a Home
April 4, 2014
For aspiring home buyers in Toronto who have lost out on one property after another, the following article in The Globe and Mail is for you. A couple searching for a home discuss their story on how they finally won in a bidding war. After reading this article, the condo or loft option seems to be a much easier route, as opposed to buying a freehold property in Toronto. They lost eight bidding wars. They are now there, but last year at this time the pair was mired in despair. “We were rookies,” says Ms. Levy of their introduction to multiple offers. At first they thought that ...
To Buy or Rent? Condos Might Be the Answer to Toronto’s Intense Home-Buying Market
March 19, 2014Investing in Real Estate Toronto Condo Buyers Toronto Rental Market Real Estate Tips First-Time Buyers
Sarah Kelsey published the following article in the National Post, regarding the sensible condo buying option. Home buyers are becoming increasingly frustrated with never-ending bidding wars in Toronto’s freehold resale market. Instead of throwing money away through renting, buyers are now searching for condos to get into the Toronto real estate market. “A safe location, room to grow, a good investment and located near the city. Doesn’t seem like a lot for a young professional couple to ask of the Toronto real estate and rental market. But as so many 20- and 30-somethings know, it is. In the midst of this “too expensive to buy/too expensive ...
Why Use a Realtor for a New Construction Condo Purchase?
February 28, 2014New Toronto Condos VIP Broker Events Toronto Condo Buyers New Construction Projects Toronto Condo Information New Toronto Lofts Real Estate Tips First-Time Buyers
Before I get into the benefits of using a licensed Realtor when buying a new condo, I must emphasize that you need to go with your Realtor to any new condos sales office. If you go on your own beforehand, most builders will not cooperate with a Realtor after the fact. Your Realtor needs to be with you on every visit to a new condo sales office, especially the initial one. It is my opinion that using a Realtor, that specializes in the Toronto condo market (such as myself), in the purchase of a new construction condo is to your benefit. The sales representatives within the ...
Five Reasons to Buy a New Condominium in the GTA
February 23, 2013New Toronto Condos Investing in Real Estate Toronto Condo Buyers New Construction Projects Toronto Condo Information New Toronto Lofts Real Estate Tips First-Time Buyers
The Building Industry and Land Development Association (BILD) recently posted five great reasons to purchase a condo in the Greater Toronto Area. “In Ontario, more than one million people are now living a condominium lifestyle and that number will continue to grow. The GTA is the fastest growing condominium market in North America, and here are five good reasons why. Affordability and choice: Condominiums are still the most affordable path to homeownership in the GTA, with the average price of a high-rise suite nearly $200,000 less than the average low-rise home. The condo market in the GTA is also the most active in ...