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Condos @ Yonge & Eglinton

taal

taal

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I'm looking into buying a condo in Yonge Eglinton area (as close as possible) in the next year / year and a half. Not looking at new construction (wouldn't be able to afford most of the new stuff in the area) something that's like 5+ years old at least. In terms of size roughly 700 - 900 sqr feet and I'm not willing to rent.

What first steps should I take, any idea what's available and what prices we are talking about? I'd really like to buy into this area but I'm not sure if I'll be able to afford it.

Anyone live in the area?
 
You don't have many choices, as Y&E has mostly new up and coming condo. What's your price range? Minto's, the largest condo buildings in Y&E, price range for 700-900 sqft is 300-400K
 
There isn't a huge selection as already mentioned, as relatively few condos were available in the area up to about five years ago.

Try 188 Eglinton Avenue East, if you like high-ceilinged lofts. I have been in this building. It's only 2 - 3 years old, and nice in my opinion. Prices are in the high 200s.

7 Broadway is lower-priced, and you might find something at about $200,000. Monthly condo fees are relatively high, for reasons which I don't know. Christopher Hume slagged this building's appearance last week in his column in the Star. Gave it a grade of "C", but he's sometimes hard to please. :)

A few resales in Minto Midtown, south tower, are becoming avaialble now, but I gather this wouldn't meet your requirements.
 
taal said:
...and I'm not willing to rent.
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Why not? Your rent would be 2/3 of your total carrying costs to own.

Just wait until the herd start dumping their Minto Midtown suites on the market. Prices are sure to fall significantly.
 
You really think so? :)

no renting though, for a verity of reasons.

I should have mentioned my price range earlier - it'd say 250 - 300,000 i.e I really don't want to go over 300,000.

Thanks for the replies so far!
 
taal said:
You really think so? :)

no renting though, for a verity of reasons.

I should have mentioned my price range earlier - it'd say 250 - 300,000 i.e I really don't want to go over 300,000.

Thanks for the replies so far!
Click to expand...

What's your time horizon Taal? It doesn't have to be written in stone but it helps determine your best strategy.
 
investor said:
What's your time horizon Taal? It doesn't have to be written in stone but it helps determine your best strategy.
Click to expand...

I'd be looking to move in sometime Spring/Summer 2009, there are still some things to be determined but likely at the earliest May 2009 and Latest June/July 2009.
 
taal said:
I'd be looking to move in sometime Spring/Summer 2009, there are still some things to be determined but likely at the earliest May 2009 and Latest June/July 2009.
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Better deals in the rental market.
 
Bumbarass said:
I am a realtor who specializes in condos from Yonge/Sheppard all the way south down to the Downtown Core. For your price range and size requirements you can forget about any of the new developments at Yonge/Eglinton. If you can stretch it to about $320K you can get a 1 bdrm in the Minto Midtown development. Very nice building, great location and amazing finishes. Did you need parking? If not then you might just be able to swing it for below $300K.

Shoot me an email if you want and we can discuss it in more detail.

brian @ gotorontocondo . com
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No offence Brian but why would he/she discuss the Minto Midtown building with you when he/she can walk straight into the sales office and buy a unit from the developer without complicating the transaction with brokerage fees? I would think that he/she could buy the same unit for thousands less on his/her own.
 
1. The units I am talking about are resale. The builder has already sold them and the purchasers are now reselling them so he can't just walk into the sales office to buy them

2. It doesn't complicate anything, in fact, I can help clarify things for him that he doesn't understand. You may save a couple thousand without having an Agent represent you but if you don't know much about Real Estate you'll probably get screwed in other ways that a lawyer isn't responsible for protecting you against.
 
Also - I apologize I should have just private messaged him. I have deleted the post from this thread.

Brian
 
There are actually a couple of resale units for sale in Minto Midtown now for around $300K w/ parking. 1 bdrms of about 700sq ft. Contact me for details of you want.
 
Again, why crowd with the room when he can contact the seller himself? Just go to www.mls.ca. You want him to pay an extra $10,000 for clicking a mouse?

And by the way, his lawyer and far more responsibilities and obligations to his client than you do. A lawyer's ability to protect his client is of paramount importance.
 
Bumbarass said:
There are actually a couple of resale units for sale in Minto Midtown now for around $300K w/ parking. 1 bdrms of about 700sq ft. Contact me for details of you want.
Click to expand...

Here come the flippers- look out below. Just counted 16 units for sale on MLS! How many have even taken occupancy?
 
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