wang888
Active Member
thats just greedy... this area should be $500 psf and be stagnate at that rate with more buildings coming online thats west of provost rd
i guess its the parking that seems to be driving the prices higher
Last edited:
Discovery Condos (Concord Park Place) - Real Estate -
- Thread starter asiancolossus
- Start date
thats just greedy... this area should be $500 psf and be stagnate at that rate with more buildings coming online thats west of provost rd
i guess its the parking that seems to be driving the prices higher
audilau
New Member
That should be the price after closing. In that area, the price should be around $500 per SF, because downtown area is now selling for $535 per SF and it is build by tridel too, which the quality is much better. $500/sf should be the price after closing. Now, I would say $480 - $490 for assignment sale, because the final closing will cost you around $20000.
TheProfessor
Active Member
Just to clarify, I don't own in this project. I have a unit just up the road at Aria. I'm just curious about the project since we're neighbors
audilau
New Member
I also need to clarify that I didn't get a unit in this project. I am just a real estate agent who have clients brought this project. I am in good relation with concord, but I just want to give some real estate advise, my opinion on concord and have some feedback from owner in this projects.
wang888
Active Member
Closing cost is $20,000?
audilau
New Member
Yes, you will have to pay for the following:
1. Development fee (depends on builder, cannot assume the cost for this charge. If you didn't cap the ceiling for the development fee, then that can be few thousands or more.)
2. Tarion New Home Warranty (Approximately $450 +HST)
3. Meter Charge (is approximately $800 for Hydro Meter)
4. Title Insurance (around $200)
5. Lawyer Fee (depends on your lawyer $1500)
6. Land transfer tax (One land transfer tax, based on your price when you bought the unit.)
7. Occupancy fee is also you closing cost, because that is the expenses (approximately $1000+ a month) The Final closing should be around March or April Next year,so you may assume 5 months occupancy.
After you added up all the above cost, the total that you need to pay until you completely own the unit would be $20,000 is 2 bedroom unit, but for the small unit, I would say $12,000 to $17,000.
There are lots of expenses when you buy a pre-construction home compare to resale. A resale home, you only need to pay land transder tax, lawyer fee and title insurance.
1. Development fee (depends on builder, cannot assume the cost for this charge. If you didn't cap the ceiling for the development fee, then that can be few thousands or more.)
2. Tarion New Home Warranty (Approximately $450 +HST)
3. Meter Charge (is approximately $800 for Hydro Meter)
4. Title Insurance (around $200)
5. Lawyer Fee (depends on your lawyer $1500)
6. Land transfer tax (One land transfer tax, based on your price when you bought the unit.)
7. Occupancy fee is also you closing cost, because that is the expenses (approximately $1000+ a month) The Final closing should be around March or April Next year,so you may assume 5 months occupancy.
After you added up all the above cost, the total that you need to pay until you completely own the unit would be $20,000 is 2 bedroom unit, but for the small unit, I would say $12,000 to $17,000.
There are lots of expenses when you buy a pre-construction home compare to resale. A resale home, you only need to pay land transder tax, lawyer fee and title insurance.
CasssiusX
New Member
Damm.. That Land Transfer tax is a killer. When was it exactly implemented? And when was the magical date to purchase to avoid paying it? I signed my Purchase Agreement back on December 2, 2007.
audilau
New Member
if you signed your agreement on December 2, 2007, you will only have to pay one land transfer tax. For those that sign the agreement after December 2007, they will have to pay both.
In your case, the land transfer tax is not a killer, the development charge might be the killer because development charge can be from hundreds to thousands, no one knows unless you cap the development fee when you bought the unit, otherwise, is all upto the developer to decide how much they want to charge you.
In your case, the land transfer tax is not a killer, the development charge might be the killer because development charge can be from hundreds to thousands, no one knows unless you cap the development fee when you bought the unit, otherwise, is all upto the developer to decide how much they want to charge you.
audilau
New Member
you may also check how much land transfer tax you have to pay here : http://www.heydary.com/land-transfer-tax.html, only the top parts applied to your case.
fore123
New Member
i don't understand ~!
I still don't get the "policy" on: you can only buy 1 parking space with a 2 bedroom + den unit ...
my family is downsizing from a house to condo .. we have a unit with 2 bedroom + den .... but concord only "allow" us to buy 1 parking space ...
we are looking for a second parking space for my car .... buying it or renting it ( rent for short term while waiting to buy one)
where we can go about it ? who should we talk to ?
we are almost the first batch of people to move in .... so there is not a lot of people "owning" a parking space to rent to us ....
can i park my car at the visitor parking spot for now ?
our last backup plan is me + my car not living there at all ... and i go find something else.
i have to figure out this very soon .. there is only 3 more weeks before i move in ...
any suggestions ?
I still don't get the "policy" on: you can only buy 1 parking space with a 2 bedroom + den unit ...
my family is downsizing from a house to condo .. we have a unit with 2 bedroom + den .... but concord only "allow" us to buy 1 parking space ...
we are looking for a second parking space for my car .... buying it or renting it ( rent for short term while waiting to buy one)
where we can go about it ? who should we talk to ?
we are almost the first batch of people to move in .... so there is not a lot of people "owning" a parking space to rent to us ....
can i park my car at the visitor parking spot for now ?
our last backup plan is me + my car not living there at all ... and i go find something else.
i have to figure out this very soon .. there is only 3 more weeks before i move in ...
any suggestions ?
audilau
New Member
In term of parking, you will have to wait till all unit move in. Even you talk to property management when you move in, they will say you are only to buy one parking for each unit. May be later after final closing, property management might offer owner to buy more parking, but this doesn't happen too often to Concord. Also, if you buy another parking space, it will cost you around $28,000. If you rent a parking, it will be approximately $100 to $120 a month. May be inconvenience to rent a parking because you might need to find another parking every year. Buying another parking is definitely not a good option to you, because by the time you sell the house, you will not be able to sell for $28,000 more.
You may park your car at the visitor parking for the first few weeks, because I don't think their parking will be ready by the time you move in. Building A is the first group to move in, and building B won't move in until late january. The worse case is to register your car as visitor parking every night until you rent a parking.
TheProfessor
Active Member
Hi, in my experience they will only allow one spot to be sold per suite until the majority of people have taken occupancy. Once this is done, they will assess the situation and begin selling the remaining spots to those on a waiting list. My suggestion would be to simply try and park in Visitors until a bulletin board has been set up in your building and people begin posting spots for rent. In my condo, it took about eight months from when I moved in until the first "For Rent" ad went up. In that time I was 'creative' with where I parked
CasssiusX
New Member
Hey Fore123,
Something is a bit odd here. About a month ago, I got a letter from Concord asking me if I wanted to buy additional parking spots. I already own one with my unit. This makes me believe, there are indeed additional available spots for sale.
Something is a bit odd here. About a month ago, I got a letter from Concord asking me if I wanted to buy additional parking spots. I already own one with my unit. This makes me believe, there are indeed additional available spots for sale.
asiancolossus
Active Member
Hey Casssius, I got a letter from Concord as well but it was only for extra lockers. Given the tiny size of the lockers and their flimsy design (In my opinion, they look like a pair of regular scissors could cut through the wire) it was good I didn't buy extra ones. I don't recall the extra parking being part of the letter.
CasssiusX
New Member
Damm.. you were right. I got confused. It was for the extra lockers and not the parking space. How big would you say the storage locker is?