Latest deals on Toronto Condos!
Contact Condos in Toronto 4u NOW
Toronto Condo prices are starting to rival New York and London with several super luxury condo developments attracting a price tag of $748 per sq. ft. or more.
The high end New Condo Toronto market of $500 sq. ft is now going over $200 sq. ft. at some high end projects like the Four Seasons residences and the residences at the Ritz Carlton.
Each Luxury Toronto Condo project is attracting International buyers, Rosedale and forest Hill residents downsizing and even wealthy entrepreneurs from as far away as London, Ireland, Hong Kong and Singapore.
if you are considering buying or investing in a new development, consult a professional before walking into a sales-centre. I will guide you through the entire screening, evaluation, negotiation and purchase process. To understand the risks of buying without proper representation, read Closing Costs:
Closing Costs are not a part of the unit price you will be quoted at a new project development, and they may come as a big surprise upon closing.
Here is a partial list of possible fees and charges you may have to pay upon closing:
* Heat Pump
* Public Art Levy
* Sewer Connection Charge
* Educational Levies
* possible additional charges
These and others can add up quickly to thousands of dollars.
When purchasing a new unit, be aware of of closing costs and how much cash you’ll need to set aside for closing.
To protect yourself ask your Realtor to explore an option for you to “cap” closing costs. In some cases, your Realtor could possibly help you not only understand what the closing costs are, but also negotiate a better cap on these expenses.
Another example why you should never walk into a condo sales centre without your agent.
Condos in Toronto 4u.
Many people do not realize that investing in Toronto Condos is time-sensitive. here is a description of the three main opportunities to buy a condo.
Always use a Realtor, it won’t affect your purchase price and we may be able to get you a better deal.
Option 1: Buy from Plans
- Use a Realtor to guide you through the process.
- You’re buying from the Builder, not from an individual
- First-time home buyers NOT in effect
- Downpayments up to 25%
- Occupancy fees in effect
- Closing costs in effect
- Longest wait, yet most appreciation (in an uprising market)
- Option to Assign/Flip you contract
Option 2: Buy a Contract Assignment / Under Construction
- Use a Realtor to guide you through the process.
- You’re buying from an individual, not from the Builder
- First-time home buyers NOT in effect
- Downpayments are previous buyer’s + markup (highest)
- Occupancy fees in effect - check for limitations
- Closing costs in effect - check built-in caps
- Move in Now or very soon
Option 3: Buy from Individual / Re-sale / Exisiting Building
- Use a Realtor to guide you through the process.
- You’re buying from an individual, not from the Builder
- First-time home buyers in effect
- Lowest downpayments - in accordance with your lender
- No Occupancy fees
- No original Closing costs (was paid by former owner)
- Move-in now
Thank you
Condos in Toronto 4u
|
