With so many condos on the market today, how can you be sure your condo will remain a strong investment and not prove problematic over the years? After several years working almost exclusively in the Toronto condo market, we’ve managed to weed out the mediocre condos, known to have problems, and learned that the best condos – from a living and an investment perspective – meet the following criteria:
- Reasonable maintenance fees that generally do not exceed 65 cents per square foot. We find there can be exceptions to this rule: i.e. when a building has fewer than 50 units.
- Safe & secure locations with low crime rates. The city of Toronto is one of the safest urban cities in North America (just google “Toronto crime rates”) however there are certain pockets that we’d suggest avoiding.
- Diverse location that appeals to many demographics. There are some areas that have always had and will always have incredibly strong demand. If an area appeals to not just one demographic, but many (bankers, hospital workers, lawyers, artists, teachers, legislators etc) short of an global economic collapse, you’ll do well on your investment. Even in a down market, these areas will always have strong demand from the rental market.
- High ratio of owners to renters. Nothing against renters — owners just tend to take better care of their properties.
- Abundant transportation & easily accessible.
- Low “days on market” for sold properties.
- Plenty of neighbourhood amenities (cafes, parks, galleries, restaurants, theatres etc).
- Award winning developers
Why did we create this site?
If you’re happy with your condo purchase and it proves to be a strong and lucrative investment for you, we’ve done our job well and that will help grow our business. We created SelectCondos to better enable our clients to learn more about the condo market and to make informed purchase decisions.
We hope you’ve found this site to be informative. If you’re looking for any assistance, we’d be happy to help out! For more in-depth analytics on the condo market, check out our sister site, Strata.ca.
Slate Realty Inc.
51 Wolseley Street (Queen & Bathurst)
cell: 416.818.0393 (Paul)
cell: 416.912.6445 (Robert)
Want to learn more about how we qualify condos? Click here, or feel free to read some of our articles. If you're looking for any assistance, contact us.