London on the Esplanade Condos (Cityzen) - Real Estate -

ash_p said:
Is anyone else noticing this with their shower tiles? Every time I take a shower, even a short one and the tiles get a bit wet....they are getting these wet marks on them. (?!) I have never seen this before and am concerned it is a problem. I called Cityzen regarding this and they came and checked it out and said that the tiles and grout HAVE been sealed and said this is normal due to the fact that these are marble tiles and are naturally porous. They said because the tiles are drying afterwards that this is not a problem but...I don't know...thoughts?
Click to expand...


If you're really concerned, go to a hardware store and buy some sealer and apply more on yourself.

I don't know how porous marble gets or if there's any chance of it seeping through to the drywall backing, etc. You might as well re-seal it since you know the developer isn't going to replace the tiles or anything like that.

And if it's a problem bc of lack of sealer, etc ... by the time something serious happens, your Tarion warranty will probably over and you're stuck with a moldy damaged washroom plus a huge expense to fix.
Spend the $10 and see if it makes a difference.
 
I've never seen granite used in a shower stall. Is that something other builders are doing as well?
 
does the type of cleaner make a difference? The builder kind of implied that maybe it was the cleaner I used that maybe stripped the seal... I don't know if I buy that to be honest. Well I guess I will try and seal the damn things myself this weekend. great. Thanks for the replies guys! (that rhymed!)
 
renting for $2500 ?? ... one may as well / can easily put that towards a mortgage towards a VERY NICE condo ~
 
seems reasonable I think? It's around $2.23/sq ft rent. The owner probably has to pay around $504/month in maintenance fee and there's also property taxes.
 
Solaris said:
renting for $2500 ?? ... one may as well / can easily put that towards a mortgage towards a VERY NICE condo ~
Click to expand...


$2500 covers everything except hydro ...

as AKS stated, there's probably $500+ in maintenance fees, and $300+ in property taxes monthly.

That leaves $1700 to cover a mortgage, so let's hope the owner hasn't borrowed more than $300K, otherwise, they are in negative cashflow.

Viewed differently, what does $370K buy (20% deposit of $70K and ~$300K mortgage) new in dt Toronto now ... 750-825 SF ... substantially less than the 1120 sq ft corner unit.
 
Hi Guys,

I was doing a little research for one of my clients and there are units available at 38 The Esplanade for rent (I believe they start at $1300). There are also a few units for sale as well.

If you are interested let me know and I will forward you the details.

Steve
 
sup2009 said:
Hi Guys,

I was doing a little research for one of my clients and there are units available at 38 The Esplanade for rent (I believe they start at $1300). There are also a few units for sale as well.

If you are interested let me know and I will forward you the details.

Steve
Click to expand...
PM sent
 
cdr108 said:
$2500 covers everything except hydro ...

as AKS stated, there's probably $500+ in maintenance fees, and $300+ in property taxes monthly.

That leaves $1700 to cover a mortgage, so let's hope the owner hasn't borrowed more than $300K, otherwise, they are in negative cashflow.

Viewed differently, what does $370K buy (20% deposit of $70K and ~$300K mortgage) new in dt Toronto now ... 750-825 SF ... substantially less than the 1120 sq ft corner unit.
Click to expand...

Sorry, I'm not sure I follow your math here.

5Y fixed mortgage rates are available currently at about 3.6%. That means that every $100K in mortgage costs you $300/mth in interest expenses ($100K * 0.036 / 12 = $300). Keep in mind that when evaluating costs of a rental property, only the interest portion of the mortgage payment should be counted, since the principal repayment builds equity and is just transferring money from your bank account to the equity in your home. It's not an expense.

So, given that, $1700/mth at 3.6% interest is sufficient to cover interest costs on a $567,000 mortgage.

In your $300K example, it would only cost $900/mth in interest expenses to carry the mortgage assuming a 3.6% fixed rate mortgage.
 
You must log in or register to post here.

Back
Top