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  #21  
Old Posted Jan 20, 2016, 3:41 AM
lio45 lio45 is offline
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Originally Posted by mistercorporate View Post
There arent a lot of pre-ww2 condos in Toronto if any, back then they usually rented out houses. Condos/townhomes in Toronto make way more sense, the market here is so bubbly theres no way you'll get good returns renting out rooms in the core. Scarborough is by far the best investment destination for homes or condos in this city since you can get better deals (relatively speaking). All in all, Toronto is a great place to live and work but only a fool would invest in the general real estate market right now given the great investment opportunities elsewhere. Regardless, more investments by suckers means more highrises going up so the skyscraper geek in me will enjoy that at least. I say stick to your existing investment strategy since its working out well for you, Vancouver and Toronto are way overpriced with crushing property taxes (given the ridiculous valuations).
That is pretty much what I suspected, thanks!

You don't own much in Toronto anymore, right...?
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  #22  
Old Posted Jan 20, 2016, 3:52 AM
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Originally Posted by lio45 View Post
That is pretty much what I suspected, thanks!

You don't own much in Toronto anymore, right...?
Check your inbox.
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  #23  
Old Posted Jan 20, 2016, 5:06 AM
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Originally Posted by mistercorporate View Post
There arent a lot of pre-ww2 condos in Toronto if any, back then they usually rented out houses. Condos/townhomes in Toronto make way more sense, the market here is so bubbly theres no way you'll get good returns renting out rooms in the core. Scarborough is by far the best investment destination for homes or condos in this city since you can get better deals (relatively speaking). All in all, Toronto is a great place to live and work but only a fool would invest in the general real estate market right now given the great investment opportunities elsewhere. Regardless, more investments by suckers means more highrises going up so the skyscraper geek in me will enjoy that at least. I say stick to your existing investment strategy since its working out well for you, Vancouver and Toronto are way overpriced with crushing property taxes (given the ridiculous valuations).
True there are very few prewar apartments of scale and even fewer are condos or co-op ownership. There are quite a few prewar lowrises and converted mansions out there.

I disagree Scarborough is a good deal. The attractive areas are priced high. The more affordable areas are that way for a reason. Those areas usually get hit the hardest in a correction.

It's an amazing time to invest in real estate in Toronto right now. Just have to be smart about it.
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  #24  
Old Posted Jan 20, 2016, 6:29 AM
gentlepuppies gentlepuppies is offline
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Originally Posted by gentlepuppies View Post
Young architect in his 20's here looking to buy in Toronto... hoping to to drop 20% down on a 700-800sf place when the bubble bursts.

I don't think it's unrealistic to have these things in a 700-800 sf condo for about $400K after a 15% drop in prices. I'm in my mid 20's btw.


Be prepared to wait a loooooooong time. Also even if prices dropped 15% from todays values which they won't you'll never find a condo that size for $400k. You might get 500 sf for that.
Last I checked, two 550sf corner units in Radiocity are available for $360K each. I actually find that building one of few examples of acceptable architecture and location. Square usable rooms, large solid balconies, buffered from future development by surrounding ballet school, heritage houses and midrise condos, good neighbourhood scale with mature trees, close to ttc/loblaws. I'm just holding out for slightly better. Also agree with above poster that the suburbs are overpriced. I'm seeing new 600sf condos in the middle of suburban hellscape @ Don Mills/401 for $350k. Worth $200K to me compared to Radiocity.

Also considered Howard Park, especially one of these units:


perhaps knock out the second bedroom wall and make it a glorified studio space. To me it would be worth $450K downtown, $400K in Roncesvalles. Unfortunately I'm used to living right at college/yonge, and stumbling home from the club at 3am saturday/sunday morning rather than crashing with friends, and cannot rely on ttc to get home from downtown lol. Ideally I want to be within a 20-30 min walk from downtown, and max 10 min walk from ttc.

Last edited by gentlepuppies; Jan 20, 2016 at 6:42 AM.
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  #25  
Old Posted Jan 21, 2016, 12:27 AM
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Originally Posted by gentlepuppies View Post
Quote:
Originally Posted by TorontoDrew
Also even if prices dropped 15% from todays values which they won't you'll never find a condo that size for $400k. You might get 500 sf for that.
Last I checked, two 550sf corner units in Radiocity are available for $360K each.
Don't expect any forumer here to help you find a deal. They're worse than realtors when it comes to hyping the market, except that they have nothing to gain from it other than watch shit get built.
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  #26  
Old Posted Jan 21, 2016, 12:37 AM
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Originally Posted by caltrane74 View Post
He's an architect, praying for the real estate bubble to burst.
I get that, I called him out on that first, it was the plastic bag in prison thing. Also you said "this guy" while quoting me so I thought you were talking about me.
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  #27  
Old Posted Jan 21, 2016, 12:43 AM
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I know Toronto is the centre of the universe and all, but why is this in the Canada forum and not the Toronto one?
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  #28  
Old Posted Jan 21, 2016, 10:50 PM
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I know Toronto is the centre of the universe and all, but why is this in the Canada forum and not the Toronto one?
Maybe ask the OP whos from BC
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  #29  
Old Posted Jan 22, 2016, 12:17 AM
lio45 lio45 is offline
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Originally Posted by dleung View Post
Don't expect any forumer here to help you find a deal. They're worse than realtors when it comes to hyping the market, except that they have nothing to gain from it other than watch shit get built.
Actually, I've observed that forumers here are generally at both ends of the "is the market in TO/Van normal" spectrum.
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  #30  
Old Posted Jan 22, 2016, 6:25 AM
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Other than the two geriatrics from BC who are bitter about getting priced out of the market, almost everyone else is like buy buy buy lol.
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  #31  
Old Posted Jan 23, 2016, 5:05 PM
gentlepuppies gentlepuppies is offline
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I posted in the Canada section because it seems like the defacto Toronto forum (the last post in the Toronto section is from 2015 lol) Also to get more answers... just about everyone I know in Vancouver has been to Toronto or even lived there for school, co-op, etc.

Yeah, i've done a bit of homework too, so not exactly inclined to trust a guy telling me I can only afford 500sf with $400K after a 15% market correction lol
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  #32  
Old Posted Jan 26, 2016, 8:07 PM
gentlepuppies gentlepuppies is offline
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any more suggestions?
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  #33  
Old Posted Jan 26, 2016, 8:19 PM
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If you want more Toronto specific advice you can check out Urban Toronto, though the people there are typically condo owners and real estate agents with a few developers thrown in so less knowledgeable about investing than some of the people here (who tend to be intellectual geeks [and hence smart] if you ignore the nutjob trolls ).
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  #34  
Old Posted Jan 26, 2016, 8:21 PM
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Originally Posted by gentlepuppies View Post
any more suggestions?
West Don Lands projects (River City, Canary District) are also in your price range, or at least they were when I looked. You'd have to be OK moving into an area that hasn't really developed but is closer physically to downtown.

EDIT: Sorry, I see you've already looked into these areas. If I think of any more, I'll update this post.
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  #35  
Old Posted Jan 27, 2016, 3:08 AM
gentlepuppies gentlepuppies is offline
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Yeah I'm also on urbantoronto. Got a ton of realtors sending me stuff not even close to what i'm looking for though lol.
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  #36  
Old Posted Jan 31, 2016, 8:18 PM
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The options are frustratingly limiting. Been looking in the market too, and there are few new buildings which as a designer I wouldn't be embarrassed to live in. So far 158 Front has by far the best value and floorplans IMO, and somewhat tolerable architecture (bland, but at least not too gimmicky)
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  #37  
Old Posted Jan 31, 2016, 8:19 PM
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Did you really need a make a new account for this thread though?
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  #38  
Old Posted Jan 31, 2016, 8:21 PM
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Originally Posted by gentlepuppies View Post
Last I checked, two 550sf corner units in Radiocity are available for $360K each. I actually find that building one of few examples of acceptable architecture and location. Square usable rooms, large solid balconies, buffered from future development by surrounding ballet school, heritage houses and midrise condos, good neighbourhood scale with mature trees, close to ttc/loblaws. I'm just holding out for slightly better. Also agree with above poster that the suburbs are overpriced. I'm seeing new 600sf condos in the middle of suburban hellscape @ Don Mills/401 for $350k. Worth $200K to me compared to Radiocity.

Also considered Howard Park, especially one of these units:


perhaps knock out the second bedroom wall and make it a glorified studio space. To me it would be worth $450K downtown, $400K in Roncesvalles. Unfortunately I'm used to living right at college/yonge, and stumbling home from the club at 3am saturday/sunday morning rather than crashing with friends, and cannot rely on ttc to get home from downtown lol. Ideally I want to be within a 20-30 min walk from downtown, and max 10 min walk from ttc.
550 sq ft is too small for a one bed and 840 sq ft is too small for a two bedroom. Check out the living/dining area. The dining is basically your kitchen island.
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  #39  
Old Posted Feb 1, 2016, 5:40 PM
gentlepuppies gentlepuppies is offline
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550sf 1brs and 840sf 2brs are above-average size now. As early as 2006, while working for a condo architect in between school terms I had to fit 2 bedrooms (both with windows) into 780sf. That said, I would've turned the above unit into a luxurious 1br with a work-space that doubles as dining.

Also looked at 158 Front, not a fan of glass boxes, and I want my balcony to be more substantial.

Last edited by gentlepuppies; Feb 29, 2016 at 4:09 PM.
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  #40  
Old Posted Feb 29, 2016, 4:55 PM
gentlepuppies gentlepuppies is offline
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Curious what people's preferences are for a 2-storey unit (ie Maple unit at Brant Park) compared to a 1-storey unit of the same area, and same amount of windows?
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