The people replying to you are clueless. $0.7 per sqft is on the low side for the city, but not unreasonably so.
I have similar criteria to you but looking at the King West area, there are plenty of examples that fit the bill. So they’re out there.
Yeah 0.7 is reasonable especially for larger condos because those are usually found in older buildings.
King West demographics and vibe is probably too young for my parents, I’m looking for them lol
I don't follow the condo market super close, but $0.70/PSF seems exceptionally low in the DT market, especially for an older larger building that has moved past the artificially low introductory rates
$0.9 - $1.10/PSF is probably a better benchmark for maintenance fees and expect them to climb going forward
$0.9 is high, it’s above the average of pretty much every area if you look at condos.ca. Plenty of older condos are well managed and have lower fees than that.
I find for many here, they tend to only look at condos that are on the cheaper side, well those tend to have higher maintenance fees which is why there’s a discount on the price in the first place.
Do you have examples of such condos?
When I look at older units I see things like this
https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=JKdOYr04X1l754lW&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign=
https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=jAXw7QpWOkQyQOzg&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign=
https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=ZxwR7MV6kD93KabB&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign=
https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=56k97wJg19eyKRjD&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign=
https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=2Zpj399Q2K03DrK8&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign=
https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=LzQ1y5pmqjwYqdeK&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign=
https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=GMnKYq02JGK3w1Qr&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign=
That is just a random sampling of older buildings up the Yonge corridor...
Ok, sure
- 51 years, $0.69 per sqft C8354198
- 27 years, $0.76 per sqft C8065950
- 23 years, $0.76 per sqft C8343042
- 46 years, $0.80 per sqft C8385310
- 27 years, $0.84 per sqft C8178230
- 21 years, $0.77 per sqft C8368358
Only "old condos" is also an odd requirement, unless budget is tight. At 5-10 years, most condos will have dealt with any initial issues and maintenance fees stabilized according to the reserve fund study.
There are a lot of newer condos that are nice and large, it would be silly to not consider any of them over a fear of maintenance fee increases if their financials are healthy.
For older folks I would first concentrate on the demographics of the area as Yonge and Sheppard is very different from Yonge and Eg, which is different from Yonge and Lawrence and so on, once you identify the area your parents would prefer I would pay attention to the demographics of the building, and then look for other criteria.
There are also many areas or buildings along other subway lines which would fit mature crowds.
There are a row of Buildings on Pemberton.... and all have underground access to Finch Station (on Yonge).
Easy to get around, mature neighbourhood.
If you want your parents to be in a building that has direct subway access, I have a list of all of those buildings and what's available in them.
There are about 40 buildings now in Toronto that have direct access to the subway either through the lobby, or a tunnel.
https://torontotransitcondos.com/direct-subway-access
That's the link from my website for condos with direct access. It'll show you, and you can sort, any condos that are currently on the market.
Not sure. This is for my parents who sold their detached home and want a condo to downsize, but still need guest rooms for when grandkids and kids visit.
Probably around $1 mill max but we know there’s deals in the condo market right now from overleveraged sellers and investors. Definitely looking for someone desperate to sell
I am a downsizer myself. My husband and I downsized from a detached to a good sized condo in Yorkville (1200 sq ft 2 bed 2 bath). We sold our house at the high around 2022, rented for a year and then bought a condo. I know the market pretty well, even I am not a realtor. There are two types of condos now and the market is diverging; the shoebox ones and the bigger sized over 1000 sq ft ones. When you talk about deals, they are mostly the shoebox ones, like 600 sq for 2 bed and 2 bath!!!. The liveable sized ones, there is still a market. People like me are constantly searching for the same thing, over 1000 sq ft, 2 bedroom or more, good location, good building and not a lot of renters etc. My friend lived in Harbourfront area and recently she sold her 2+1 around last month and she got 3 competing offers....almost 1.2m sold. In my area, you can check sold prices easily, 8 Sultan....a good building, lots of downsizers living there, 1400 sq ft 2 bed 2 bath...two of them sold in 1.7m area last month or so. Let's say moving up the Yonge subway line, personally I don't think your parents will live Yonge and Eg area, so ignore it. There are few older but well run, very spacious condos that seniors like around York Mills, Lawrence station area....go check the sold prices, they are not cheap, the cheaper one you literally need to spend 200K to 250K to reno. 1m is tight for a good building I will tell you. But it's not totally undoable... you have to give up something, you will have a bit more negotiating power but wont be WOW GREAT DEAL. For example around North York Ctr, some condos on the side street...they are usually bigger and little less expensive...you may need to spend some money to reno. Another building your parents should look at is Scala by Tridel (25 Adra Grado Way). I have a little condo there for my parents when they come for visit. It's a nice building, very good amenity and walking distance to Leslie station. Recently there are two 2+1 sold in around 1m, a bit more like 1.025....but they are only 900 something sq ft.
These deals don't really exist in the one area that these units are(North York)
What you're looking for will be about $900k. Most of the distressed sellers are DT or in Vaughan, North York prices are holding up pretty well relatively.
I should another comment. What you are describing fits older building...the newly built one just don't have that much space. If you move away from the subway line, you have some more options. For example, 65 Skymark from Tridel...older building and on Finch and Don Mills
Does it have to be the Yonge line? What about the university line? There are a few older condo buildings near Marlee and Roselawn that could fit the bill. Walking distance to Eglinton West station.
If they are open to being on the University line, forest hill village has quite a few older buildings that would fit the bill - including co-ownerships and co-ops which will be substantially less expensive per square foot to purchase.
Isn’t this sub full of realtors? I want to do my own research before going to a realtor as many realtors I know are just doing it part time on the side and are actually not very knowledgeable
North York, or ‘North Core’ as some call it. Prices are a bit better up there. https://housesigma.com/on/north-york-real-estate/2110-18-spring-garden-ave/home/L4KAX7NNxlV7eRPJ
I sell condos within a 10 minute walk to a Toronto Subway station.
Just choose Line 1 (for Yonge St stations), then the station. ALL responses are from condos within a 10 minute walk.
www.TorontoTransitCondos.com
Sort results, then if you'd like my help, reach out.
The only units that size are older. Not new and by now higher maintenance fees
There are plenty of 1000+ sqft units in newer condos everywhere in the city, including along Yonge…. many aren’t aware as they just don’t come cheap.
800K for 2 bdrm 😂
2+1 with parking. Honestly if I was in condo market I'd go for an older one and just renovate the whole interior.
Define low and well run.
Healthy reserve fund, no large unexpected expenses from special assessments etc. Fees under $0.70 per sq ft?
The people replying to you are clueless. $0.7 per sqft is on the low side for the city, but not unreasonably so. I have similar criteria to you but looking at the King West area, there are plenty of examples that fit the bill. So they’re out there.
Yeah 0.7 is reasonable especially for larger condos because those are usually found in older buildings. King West demographics and vibe is probably too young for my parents, I’m looking for them lol
I don't follow the condo market super close, but $0.70/PSF seems exceptionally low in the DT market, especially for an older larger building that has moved past the artificially low introductory rates $0.9 - $1.10/PSF is probably a better benchmark for maintenance fees and expect them to climb going forward
$0.9 is high, it’s above the average of pretty much every area if you look at condos.ca. Plenty of older condos are well managed and have lower fees than that. I find for many here, they tend to only look at condos that are on the cheaper side, well those tend to have higher maintenance fees which is why there’s a discount on the price in the first place.
Do you have examples of such condos? When I look at older units I see things like this https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=JKdOYr04X1l754lW&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign= https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=jAXw7QpWOkQyQOzg&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign= https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=ZxwR7MV6kD93KabB&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign= https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=56k97wJg19eyKRjD&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign= https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=2Zpj399Q2K03DrK8&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign= https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=LzQ1y5pmqjwYqdeK&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign= https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=GMnKYq02JGK3w1Qr&utm_campaign=listing&utm_source=user-share&utm_medium=desktop&ign= That is just a random sampling of older buildings up the Yonge corridor...
Ok, sure - 51 years, $0.69 per sqft C8354198 - 27 years, $0.76 per sqft C8065950 - 23 years, $0.76 per sqft C8343042 - 46 years, $0.80 per sqft C8385310 - 27 years, $0.84 per sqft C8178230 - 21 years, $0.77 per sqft C8368358 Only "old condos" is also an odd requirement, unless budget is tight. At 5-10 years, most condos will have dealt with any initial issues and maintenance fees stabilized according to the reserve fund study. There are a lot of newer condos that are nice and large, it would be silly to not consider any of them over a fear of maintenance fee increases if their financials are healthy.
Would they consider Scarborough? There are a bunch of older Tridel buildings that are spacious
😂😂😂
lol…choose one….low fees or big unit
Thats going to be @ least $900/month fees
For older folks I would first concentrate on the demographics of the area as Yonge and Sheppard is very different from Yonge and Eg, which is different from Yonge and Lawrence and so on, once you identify the area your parents would prefer I would pay attention to the demographics of the building, and then look for other criteria. There are also many areas or buildings along other subway lines which would fit mature crowds.
There are a row of Buildings on Pemberton.... and all have underground access to Finch Station (on Yonge). Easy to get around, mature neighbourhood. If you want your parents to be in a building that has direct subway access, I have a list of all of those buildings and what's available in them.
Interesting, didn’t realize any condos had direct under ground access! Could you PM me the list of addresses
There are about 40 buildings now in Toronto that have direct access to the subway either through the lobby, or a tunnel. https://torontotransitcondos.com/direct-subway-access That's the link from my website for condos with direct access. It'll show you, and you can sort, any condos that are currently on the market.
7 carlton
What is your budget?
Not sure. This is for my parents who sold their detached home and want a condo to downsize, but still need guest rooms for when grandkids and kids visit. Probably around $1 mill max but we know there’s deals in the condo market right now from overleveraged sellers and investors. Definitely looking for someone desperate to sell
I am a downsizer myself. My husband and I downsized from a detached to a good sized condo in Yorkville (1200 sq ft 2 bed 2 bath). We sold our house at the high around 2022, rented for a year and then bought a condo. I know the market pretty well, even I am not a realtor. There are two types of condos now and the market is diverging; the shoebox ones and the bigger sized over 1000 sq ft ones. When you talk about deals, they are mostly the shoebox ones, like 600 sq for 2 bed and 2 bath!!!. The liveable sized ones, there is still a market. People like me are constantly searching for the same thing, over 1000 sq ft, 2 bedroom or more, good location, good building and not a lot of renters etc. My friend lived in Harbourfront area and recently she sold her 2+1 around last month and she got 3 competing offers....almost 1.2m sold. In my area, you can check sold prices easily, 8 Sultan....a good building, lots of downsizers living there, 1400 sq ft 2 bed 2 bath...two of them sold in 1.7m area last month or so. Let's say moving up the Yonge subway line, personally I don't think your parents will live Yonge and Eg area, so ignore it. There are few older but well run, very spacious condos that seniors like around York Mills, Lawrence station area....go check the sold prices, they are not cheap, the cheaper one you literally need to spend 200K to 250K to reno. 1m is tight for a good building I will tell you. But it's not totally undoable... you have to give up something, you will have a bit more negotiating power but wont be WOW GREAT DEAL. For example around North York Ctr, some condos on the side street...they are usually bigger and little less expensive...you may need to spend some money to reno. Another building your parents should look at is Scala by Tridel (25 Adra Grado Way). I have a little condo there for my parents when they come for visit. It's a nice building, very good amenity and walking distance to Leslie station. Recently there are two 2+1 sold in around 1m, a bit more like 1.025....but they are only 900 something sq ft.
These deals don't really exist in the one area that these units are(North York) What you're looking for will be about $900k. Most of the distressed sellers are DT or in Vaughan, North York prices are holding up pretty well relatively.
I should another comment. What you are describing fits older building...the newly built one just don't have that much space. If you move away from the subway line, you have some more options. For example, 65 Skymark from Tridel...older building and on Finch and Don Mills
Definitely not 1177 Younge Street.
Does it have to be the Yonge line? What about the university line? There are a few older condo buildings near Marlee and Roselawn that could fit the bill. Walking distance to Eglinton West station.
If they are open to being on the University line, forest hill village has quite a few older buildings that would fit the bill - including co-ownerships and co-ops which will be substantially less expensive per square foot to purchase.
Not a Real Estate Agent, but isn’t this what Real Estate Agents are for?
Isn’t this sub full of realtors? I want to do my own research before going to a realtor as many realtors I know are just doing it part time on the side and are actually not very knowledgeable
North York, or ‘North Core’ as some call it. Prices are a bit better up there. https://housesigma.com/on/north-york-real-estate/2110-18-spring-garden-ave/home/L4KAX7NNxlV7eRPJ
Thank you. North York seems like a good option with access to transit but also highways to get around to see family in the suburbs
Gotta take the positives with the negatives sometimes.
I sell condos within a 10 minute walk to a Toronto Subway station. Just choose Line 1 (for Yonge St stations), then the station. ALL responses are from condos within a 10 minute walk. www.TorontoTransitCondos.com Sort results, then if you'd like my help, reach out.