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Food Mane

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What do you guys think of the condo market. My goal is to buy house but can only afford a condo right now.

I've always wondered about resale values. When people buy a condo they are sacrificing space for lifestyle. Part of that lifestyle is having everything brand new. New fixtures, appliances, building. Who wants to live in 500 square foot 10-15 year old place? I think the condo market takes a big dive when people who bought 10 years ago have trouble selling when they want to move up to a townhouse.
 

MikelArteta

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Goatganda the pearl of Africa
Not worth it
Small, outrageous condo fees

Some condos have maintenance fees of like 400 a month, then hydro etc :scust:

Better to just rent a condo even then paying like 1300 for a 1bdrm condo is :scust:

What do you guys think of the condo market. My goal is to buy house but can only afford a condo right now.
 

Yup

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Not worth it
Small, outrageous condo fees

Some condos have maintenance fees of like 400 a month, then hydro etc :scust:

Better to just rent a condo even then paying like 1300 for a 1bdrm condo is :scust:
Ya I agree, if you play your cards it could be a good investment. I plan on building equity and have someone rent while i live at home. Cant afford a house right now and have more schooling to do.
 

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I've always wondered about resale values. When people buy a condo they are sacrificing space for lifestyle. Part of that lifestyle is having everything brand new. New fixtures, appliances, building. Who wants to live in 500 square foot 10-15 year old place? I think the condo market takes a big dive when people who bought 10 years ago have trouble selling when they want to move up to a townhouse.
I give myself 5 years max
 

MikelArteta

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Goatganda the pearl of Africa
I find condos redic for their prices.

My girl was going to rent one near Wilson station one of the new ones

For a 1bdrm it was 1,300 and it was tiny, and you had to pay hydro and no parking space

She found a 1bdrm basement apart for 1000 2 bedrooms in Vaughan all inclusive cable, internet, hydro and a parking spot

F a condo


Ya I agree, if you play your cards it could be a good investment. I plan on building equity and have someone rent while i live at home. Cant afford a house right now and have more schooling to do.
 

MikelArteta

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Goatganda the pearl of Africa
Funny thing the older the condo get higher maintenance fees

400k for a condo, meh. Would rather drive from Barrie and have a house


I've always wondered about resale values. When people buy a condo they are sacrificing space for lifestyle. Part of that lifestyle is having everything brand new. New fixtures, appliances, building. Who wants to live in 500 square foot 10-15 year old place? I think the condo market takes a big dive when people who bought 10 years ago have trouble selling when they want to move up to a townhouse.
 
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