In Toronto, there are a dizzying number of condo developments available to choose from and it can make choosing one to invest in difficult and confusing. In an effort to simplify it for you, I have compiled the top 5 questions that every person should ask themselves before deciding which property is best for you.
- Is the condo in a good location? As the saying goes…”Location. Location. Location.” – What is the neighborhood like? What amenities are nearby?
- What planned growth is slated for the area? – Are there any other housing developments planned in the neighbourhood? Are there plans to add new public transit? Commercial opportunities?
- What are the rental rates of other condo’s nearby? Buying a condo in the heart of downtown Toronto vs. a condo in downtown Markham are two very different investments and one property will command a much higher rental rate than the other. Will the condo you buy command the best rental rates?
- Is the condo close to where people work? How easy it is to commute to and from work is always something that people consider when choosing a place to live. Is the condo located in a neighborhood where people can walk to work or get to work easily via public transit?
- Do other condos in the area show a good return on investment? Look at recent condo sales of properties nearby and see how much they were initially purchased for. Look for condos that offer the best return on your investment.
Do you have any questions about what condo you should invest in? Call, text, or email me anytime!
