Hi I don't have posting privileges and thought this paragraph from a (not online) Condo Guide article by Ben Myers would be of interest to investors, purchasers & others.
Excerpt from:
"What should investors look for in a new condominium..
What about parking?.. Eighty-five per cent of units leased in the Toronto CMA in Q3 2012 came with a parking space. The median unit without parking leased for $1,650 per month compared to $1,700 for units with parking. Units without parking leased in 12 days, on average, while suites with parking took four days longer. Given that parking can range from $30,000 to $65,000, a further mortgage analysis is not needed to tell you that the rent premium of having a parking space won't offset the higher mortgage payment in this instance." (Myers was more positive about paying the premium for height)
By the way, it's best to use the "Conversations" feature for reaching other members! Look for the Envelope icon to use it!
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