Condo Pro: The Investment of a Lifetime

By Barbara Lawlor

A substantial percentage of our clients at Baker Real Estate Incorporated buy condos as an investment to add to their financial portfolio. Real estate remains one of the soundest investments anyone can make. In fact, many people feel more comfortable investing in the tangible asset of a condominium rather than stocks and bonds. Historically, those who ride out the lows of occasional real estate cycles do well in the long run. A lot of our investors are international buyers who recognize the value in our spectacular condos. They come from all over the world and from a wide variety of backgrounds and cultures.

From their point of view, they know that we have thousands of newcomers to the GTA each year, and they all need a roof over their head. Many begin by renting, so the demand for rental condominium suites promises to remain strong for years to come. We even see bidding wars going on for rental accommodations.

The point is that purchasing a condominium suite with the intention of renting it out is a viable financial strategy. Considering bang for the buck, you get a lot for the price per square foot when you go condo. In addition, condominiums are bound to increase in demand across the GTA as our strong immigration continues and the price of low-rise homes rises even more. Renters know that the amenities and landscaping in a condo will be kept up well, and that with many owners living in the building, their neighbours will take care of their homes. This is a win-win situation.

Here are a few tips for making the most of your decision to buy a condo as an investment.

· Buy early in the marketing/sales process to get the best price.

· Buying early usually means delivery dates are between three and six years, and many buyers make money and earn equity before occupancy.

· Today’s condos are typically built close to transit nodes and have amenities within walking distance, as well as beautiful amenities right in the buildings. Be sure to select a convenient location.

· Most investors select from the builder’s standard finishes, which are gorgeous today. A lot of the new suites come with hardwood or laminate flooring in the main living areas because so many people have allergies today. Think neutral with choosing, as these finishes appeal to a broader target market.

· When you consider the kind of suite to purchase, look carefully at the difference in price between a one-bedroom and one-plus-den. Often, the ability to charge more for rent for a unit with a den outweighs the extra amount at purchase. The den really opens up your market for renters, as it can be used as an office, or a second bedroom with a Murphy bed in it. In essence, these become junior two-bedroom suites. And if the suite has two bathrooms, all the better, especially if a couple students are sharing the space. If your pocketbook can handle only one bedroom, it is still a wise investment choice as a starter rental. These suites are rented are filling a major void in today’s market.

· Be sure to buy from a reputable builder with a track record for success with striking condominiums in amazing locations. I am happy to say that you have excellent choices in Toronto and beyond.

If you choose to live in the condominium you buy, your suite can still be considered an “investment” in two ways: in your quality of life and your peace of mind. Condos save time with so many amenities close by and maintenance taken care of by the Condominium Board. In addition, it is comforting to come home to a building where you know the concierge has a vigilant eye-on-the-street and security monitors for areas like underground parking.

However you slice it, buying a condominium is a great idea for anyone, investor or end-user, of any age – and the sooner, the better!

Source: Toronto Star.

 

Aqualina at Bayside

 

Aqualina at Bayside Toronto will be the first residential phase of a 13 acre mixed use development called Bayside Toronto. Valued at over $1.1 billion, Bayside will be the first neighbourhood in downtown Toronto to feature two million square feet of residential, commercial and cultural uses, all on the water’s edge.

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Designed by world renowned architects, Arquitectonica, the 363 suite condominium will spearhead Hines’ ambitious plan to develop Bayside Toronto into the premier neighbourhood on Toronto’s downtown waterfront.

Aqualina Condos will offer purchasers iconic architecture, distinctive interiors, desirable amenities, and an unparalleled waterfront location

Aqualina at Bayside is a result of the creative vision of Arquitectonica’s New York office, an award winning architectural firm based in Miami. The project is being led by the firm’s partner Bernardo Fort-Brescia who is bringing an innovative and distinctive geometric approach to the exterior design of the 13-storey condominium.

Aqualina Condos will be defined by a series of distinctive prismatic cubes made of glass and steel, featuring facades accented by angled fenestration and balcony designs intended to maximize views of the Toronto cityscape and lake.

The condominium’s interior public spaces and amenity areas will be designed by the award winning Canadian firm of II BY IV Design Associates. Landscape design for the condominium will be led by West 8 + DTAH the award-winning team also responsible for the design of East Bayfront‘s public realm including the streetscapes, water’s edge promenade and boardwalk. West 8 + DTAH is also leading the design for the revitalization of Queens Quay which includes a new south side promenade, off-street Martin Goodman Trail and integrates the proposed Light Rail Transit line through the community.

Aqualina Bayside will contain 363 condominium suites, ranging from one-bedroom to three bedroom residences designed with families in mind. Suite sizes will range from 560 square feet 52m²) to just over 2,100 square feet (195m²).

Among the distinctive features of Bayside, is what is likely to be the fastest residential Internet service in the city. Delivered by Beanfield Condoconnect’s ultra-high speed broadband fiber optic network, users will enjoy wireless speeds up to 100 megabits a second.

Aqualina at Bayside will pursue a LEED® Platinum designation and will be part of Toronto’s first LEED®-ND Gold neighbourhood. Tridel, which was selected as the exclusive residential partner by master developer Hines, has established a reputation as Canada‘s leading environmentally sensitive, green residential developer earning several industry awards and distinctions for its Built Green.

Ceiling Height:

9’ standard (Premium applies where ceiling is 10′)

Price list & Floor Plan available upon request

EPOSIT STRUCTURE

• 5% due on signing
• 5% due 120 days after signing
• 5% due 270 days after signing
• 5% due 450 days after signing

METERING

Suites are individually metered for electricity, heating, cooling, and water

ESTIMATED MAINTENANCE FEES: $0.51/sq.ft.***

TENTATIVE OCCUPANCY DATE: Fall 2016

PARKING:

• Parking available for 1 Bedroom plus Den suite and larger at $45,000
• Signature Collection: 1 parking included

FLOOR PREMIUMS

• $1,000 Floor increment applies
• $5,000 Floor increment applies
• $10,000 Floor increment applies

1 Terrace Option available

* Prices and Specifications subject to change without notice, E. & O.E. June 21, 2013. The approximate areas or square footages of the above-noted suites (and of the balconies or terraces associated therewith) are subject to change without notice, and the Vendor/Declarant shall have no liability for any resulting variance(s) between the actual final area(s) thereof and the stated area(s) outlined above. **Based on 2013 Property Tax Rates by the City of Toronto ***Excludes parking and locker maintenance, as well as the approximate $60 Beanfield monthly internet sen/ice. Last Updating June 24, 2013

Important Message: In order for an investor to take advantage of Buying Pre-construction Condos is to buy before it is open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for the  VIP Preview Sales Event please Register, we can only bring limited number of buyers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

 

HighPark Residences Condos

HighPark Residences Condos – Where Urban Living Meets Mother Nature! Situated across from High Park and steps to Bloor West Village. HighPark Residences will offer Condominium Suites and Urban Townhomes.

Suites start from mid $300,000s.

Daniels Corporation Proposed to build a staggered 14 storey condominium building at 1844 Bloor St W that would have 364 units. The parts of HighPark Residences Condos adjacent to a street would be 6 storeys high with commercial units on the ground floor along Bloor Street. Higher floors would be stepped up along the back and centre of the building to a maximum of 14 storeys.

By indicating your interest in HighPark Residences Condos at this early stage, you’ll be among the first to be invited to view Price List and Floor Plans and take advantage of coming in to our member circle.

 

Princeton Manor Condo

 

Princeton Manor in Oakville’s Kerr Village is a unique, boutique condo project that is designed to exemplify true neighbourhood living. A true neighbourhood that takes advantage Kerr Village’s friendly shops, restaurants and location.

 

Kerr Village is the kind of neighbourhood where you’ve always wanted to live! It’s a place where the tree-lined banks of the 16 Mile Creek are as close as the end of the street. Where kids, parents and grandparents walk to the schools, parks and shops around the corner. It’s true neighbourhood living – from the friendly shops of Kerr Village, to the charm of downtown Old Oakville. Living at Princeton Manor, you’re within walking distance of a world of amenities including tennis, swimming, ice skating, live theatre at the Oakville Centre, library, movie theatres, shopping or a leisurely stroll along the banks of the river.

It’s a short drive to Oakville’s myriad of shops and services at Oakville Town Centre and Oakville Place – and the GO Train, QEW and public transit are right at hand to help you get to where you need to go.

Princeton Manor‘s architectural styling mixes European style building with historic-style brick, precast and stucco finishes. Builder Green Hill Homes has designed all of the condominium suites with 9 foot ceilings, imported tiles in the kitchen, laundry and bathrooms, stylish laminate flooring with soundproofing underlay in the entry foyer, living and dining areas and luxurious 35 oz. broadloom in the bedrooms.

In your kitchen you have a choice of European inspired cabinetry and finishes, granite countertops, stainless steel appliances, undermount stainless steel sink and pendant style lighting over the breakfast bar (as per plan).

The Bathrooms feature soaker tub with extra-high wall tiling, custom-style cabinetry, chrome finishes and accessories, exhaust fan and privacy locks. All condos will have ensuite laundry with stackable washer and dryer included in the purchase price. Also included in your purchase price is an underground parking space and storage locker.

 

Phase I – North Manor | Stewart Street

 *Purchase price includes 6 appliances: Stainless Steel Fridge, Stove/Range, Over-The-Range Microwave, Dishwasher and White washer & dryer; 1 underground parking space (additional spots avail. for $20,000 premium, 1 storage locker & G.S.T.

 Deposit Structure: 

 

• $2,000 deposit with purchase agreement, balance to 5% within 30 days;
• 2nd deposit of 5% within 90 days;
• 3rd deposit of 5% within 180 days.

 Building & Suite Features & Finishes: 

 

Exterior: 

 

 

 

• European style building in the centre of Oakville’s historic Kerr Village.
• Architectural exterior includes stone, historic-style brick, pre-cast, and stucco finishes. 
• Fully graded, sodded, and landscaped exterior site plan.
• Double glazed windows with openers.
• Decorative exterior lights on front facades. 

 

 

 

Balconies: 

 

 

 

• Full surround vinyl railing.
• Privacy partition between adjacent balcony (as per plan).
• One exterior waterproof electrical outlet, and one natural gas BBQ outlet per balcony.

 

 Interior Finishes: 

 

 

 

• Stunning 9 foot ceilings throughout.
• Smooth ceiling in kitchen and all bathrooms.
• Textured ceilings with smooth border in balance of suite.
• Design featured 2 ¾” casings and 4 ¼” baseboards throughout.
• Colonial style (or similar) doors throughout interior.
• Interior doors include lever style handles.
• Closet door sliders (as per plan).
• Door from suite to private balcony.
• Choice of paint colour from Vendor’s samples.

 

 

Flooring: 

 

 

 

• Imported ceramic 13′ x 13′ floor tiles in kitchen, laundry, and main bathroom.
• Extra-wide strip laminate flooring in foyer and living/dining room.
• 35 oz. carpet in bedrooms.
• All laminate and carpet areas to include noise dampening underpads.
• Stylish thresholds between abutting materials.

 

 

Kitchen Finishes:

 

 

 

 

 

• Choice of Eurpoean inspired cabinetry styles and finishes, with extra height, and deep upper over refrigerator.
• Granite countertops from Vendor’s samples.
• Stainless steel appliances including refrigerator, oven/stove, over the range microwave, and dishwasher (as per plan).
• Undermount stainless steel sink, with single lever pullout faucet.
• Ceiling lighting fixture centred over cooking area.
• Pendant pin lighting over breakfast bar peninsula (as per plan).

 

 Bathrooms & Shower:

 

 

 

 

 

• Soaker tub in ensuite with extra high wall tiling.
• Single lever chrome faucet in shower.
• Privacy locks on all bathrooms.
• Custom style cabinetry in main bath with decorative mirror and lighting.
• Powder room to include white pedestal sink, single lever faucet, and mirror.
• Exhaust fans in all bathrooms.
• Ground fault interrupter outlet beside vanities.
• Chrome accessories including towel holder and tissue dispenser.

 

 Ensuite Laundry:

 

 

• Stackable white washer and dryer included with purchase.
• Plumbing and electrical outlets for washer and dryer units.
• Dryer vented to exterior.

 

 Electrical & Mechanical Features:

 

 

 

• 100 AMP service with breaker panel in every suite.
• Heating and air conditioning -individually controlled and metered for each suite.
• Decorative lighting fixtures provided from Vendor’s samples.
• Counter height electrical outlets in kitchen.
• Pre-wired for two telephone jacks (kitchen and master bedroom).
• Pre-wired for two cable TV jacks (living room and master bedroom).
• White decora style plugs and switches throughout.
• Heavy duty 220 volt outlet for stove and dryer.

 

 Safety & Security:

 

 

• Key fob required for access to foyer and underground garage
• Fire sprinkler system in underground garage and common areas.
• Hard wired smoke and carbon monoxide detectors.

 

 Warranty:

 

Princeton Manor and Green Hill Homes are backed by the Tarion New Home Warranty Plan, under the registration of Sagio Investments Ltd.

 

Warranty to include: seven year major structural; two year heating, plumbing and electrical systems; one year on other deficiencies as backed by Tarion.