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Sonic Condo

Hot on the heels of the successful B. Streets Condos at Bloor Street and Bathurst Street in downtown Toronto, Lindvest plans for its next condo project in the city. Sonic Condominiums will be a two tower development located at Eglinton Avenue and Don Mills Road, just a short stroll away from the future Don Mills Station of the Eglinton Crosstown. It’s a fantastic location at a major city hub, which is poised for incredible growth. Steps away from the upcoming Metrolinx Eglinton Crosstown Station, and next door to the DVP, it makes it an unbelievable opportunity to be well connected to the downtown core and all Toronto has to offer, minus the congestion.

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Not only will residents have convenient access to public transportation and highways, but they’ll also be close to the Shops at Don Mills, Real Canadian Superstore, the Ontario Science Centre, Aga Khan Museum and Flemingdon Park Golf Course.

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The first phase of the project consists of 320 suites crafted by renowned interior design firm Union31, within a modern 28-storey tower by Page + Steele IBI Group Architects.

The development will include over 25,000 square feet of amenities, including a well-equipped fitness centre, yoga studio, steam rooms, screening/music room, hobby room and a guest suite.

Other amenities include a concierge, party rooms, pet spa, as well as an impressive rooftop entertainment area complete with barbecues, dining lounge, fire pit, cabanas and sunning lounge.

Even more amenity space is located right outside the doors in the professionally landscaped community park. Designed by award-winning landscape architecture and urban design firm NAK Design Strategies, the extensive greenspace will feature a walking path, exercise equipment, a children’s play area, water features, and plenty of seating areas for rest and relaxation.

Suites at Sonic Condos start from the low $200,000s and are available in a variety of layouts from cosy studios to family-friendly three bedroom suites. The development is scheduled for completion in 2019.

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Posted by on September 28, 2015 in Condominiums

 

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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.
 

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