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Buying my First Condo

We understand that for most people buying your first condo can be hard. Where do I start? this article will hopefully guild in you in the redirection and if it doesn’t feel free to contact me directly. 

Most important question is why are you buying a condo? Is it for you to move into? As an investment or a bit of both? 

Why

Most important question is why are you buying a condo? Is it for you to move into? As an investment or a bit of both? 

Moving in 

If you’re planning on moving in, that great. New condos are popping up all the time all over the Greater Toronto Hamilton area. 

Investment

As an investor you’re more interested on returns. Whether that’s from appreciation or rental rates there are condos that will be able to maximize your investment. 

Location

Moving in 

There are tons of choices, but you need to figure out where. For most people proximity to work or the subway is very important, use our map search to see and compare the locations of condo buildings.

Proximity to work

Most people work an average of five days in the week and add even 5 minutes each way to a commute adds up to almost an hour a week. In a recent study adding 20 Minutes to Your Commute Makes You as Miserable as Getting a 19 Percent Pay Cut so buying something close to work might just be the best thing you could do for yourself.

 

Close to the subway and street car

Most condos are a short walk to either, which in the warm months can be enjoyable. But if you plan on using public transit those winter months can be rough especially when its minus 20 outside.

Near schools

Depending on what stage of life you’re at, being close to a school for your young ones might be most important.

Toronto street car

Investment

Most important for your investment is your returns – rental rates / appreciation. Both of these will fluctuate greatly in the greater Toronto area. Both of these numbers are tied to desirability, so when looking for an investment look at distance to the downtown core (consider the most desirable area) and proximity to the subway.  

Timing

Moving in 

There are tons of choices, but you need to figure out where. For most people proximity to work or the subway is very important, use our map search to see and compare the locations of condo buildings.

Proximity to work

Most people work an average of five days in the week and add even 5 minutes each way to a commute adds up to almost an hour a week. In a recent study adding 20 Minutes to Your Commute Makes You as Miserable as Getting a 19 Percent Pay Cut so buying something close to work might just be the best thing you could do for yourself.

https://www.inc.com/business-insider/study-reveals-commute-time-impacts-job-satisfaction.html

Close to the subway and street car

Most condos are a short walk to either, which in the warm months can be enjoyable. But if you plan on using public transit those winter months can be rough especially when its minus 20 outside.

Near schools

Depending on what stage of life you’re at, being close to a school for your young ones might be most important.

Investment

Most important for your investment is your returns – rental rates / appreciation. Both of these will fluctuate greatly in the greater Toronto area. Both of these numbers are tied to desirability, so when looking for an investment look at distance to the downtown core (consider the most desirable area) and proximity to the subway.  

 

Now that you fully understand your situation use our map search and filter out what condo projects are best for you. Or give me a call and we can chat regarding any questions that you might have.