Currently Browsing: Condominiums

Beware of Buying or Selling a Pre-construction Condominium

Beware of Buying or Selling a Pre-construction Condominium
For the last number of years, it was almost a given that if you bought a pre-construction condo, you would be able to sell it at a profit when the building was finished several years later. I am now seeing examples in my own law practice where there is no such guarantee. In one example, the condo was purchased by Syrian immigrants 5 years ago, prior to the outset of hostilities in that country. When the building was finished in 2013, the buyers could not get access to their money in Syria. As such, they could not close their purchase and could not find anyone to purchase their contract. They forfeited...
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Condo cap rates fall below 4%

Condo cap rates fall below 4%
New research suggests cap rates for Toronto condo investments are running in and around 4 per cent, despite some of the highest rents in Canada and the kind of preferred pricing many players access. An analyst with Veritas Investment Research in Toronto arrived at the figure after comparing 84 condos for sale in the GTA and Vancouver with their rental-unit equivalents. That 4-per-cent cap rate represents what buyers looking to rent their properties can win in terms of annual returns on their investments, said Ohad Lederer. That kind of return is about half of the 7 per cent to 8 per cent many...
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Is it better to invest in a condo or a co-op?

Ask a Realtor: Should I Buy a Condo or Co-op? Perhaps you’re thinking of downsizing since you don’t need the four-bedroom house anymore. Sick of shoveling the snow? Want more time to travel? A hassle-free condo lifestyle might be what you’re looking for. Condos and co-ops are both good alternatives to owning a house, but there are pros and cons to both. Condominium apartments A Condominium apartment (condo) is the most common type of apartment ownership and is governed by the Condominium Act, a piece of legislation brought into effect in the 1960s and updated in 1998. Each unit is...
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Is Condo Living Right For You?

Is Condo Living Right For You?
Article By: Elizabeth Rogers You’ll meet all kinds of people at condominium open houses: first time buyers looking to get into the market, investors snapping up rental properties and people wanting to downsize their space and responsibilities. The condo lifestyle offers many advantages over renting or traditional ownership. These days, condos seem to be everywhere — like those high-rises we see popping up in major cities. However, a condominium is a type of ownership, not a type of building. Condos can also be low-rise buildings, townhouses, freestanding houses, duplexes, triplexes or “mixed...
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Spacious And Bright Two Bedroom/Two Bathroom Condominium In Hip Toronto Junction Area

Spacious And Bright Two Bedroom/Two Bathroom Condominium In Hip Toronto Junction Area
Welcome to Suite 1413, located in the hip Junction within a quiet well maintained building offering great amenities and low maintenance fees. This lovely spacious corner suite has an abundance of windows, making it very bright and a fabulous open concept floor plan with a gorgeous modern kitchen with granite countertops, a breakfast bar and black appliances, including a built in dishwasher and microwave. The large living/dining area is flooded with natural light coming from the large West facing windows. There is a very large closet and full en suite bathroom with an oversized shower in the master...
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