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It is still possible to buy a NEW 1 bedroom condo w/i the GTA for $200K or less?

simuls

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Everything's negotiable although in this market, maybe less so. I'd suggest calming down and not being so scared about time (worst way to make a decision). Listing's on condo's are already starting to soar, price wars are almost gone (for condos) and there will be a TON of availability soon. This will affect the new condo market and within a short period of time, you'll have a lot more flexibility and power than you do now.
 

simuls

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Pardon my ignorance, but what does "bump" mean in reference to these forums? Does it mean"I'm just posting to jump it up to the top to initiate new discussion because people are lazy and won't scroll to find it?"
 

urbandreamer

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Your answer is yes, you can still buy a 1 bedroom for under $200k in the GTA. For example, that ugly Can Alfa building "Liberty Central" that launches later this year is advertising itself as "from $150,000." That would of course be a tiny 1 bedroom suite, but as inventory builds, expect to see more offerings from that price point going into the fall/winter 2010-11 market.
 

onfence

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Pardon my ignorance, but what does "bump" mean in reference to these forums? Does it mean"I'm just posting to jump it up to the top to initiate new discussion because people are lazy and won't scroll to find it?"

Yes, just to make it more viewable and current.
 

ssiguy2

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Some times I will look at the MLS listings for the GTA and I can still not get over how incredibly cheap Toronto is. Not only is the average price twice as much in Vancouver but there is no relatively low cost housing. In the GTA you can still see listings under 120k. That has been impossible for anything anywhere in the GVRD for well over a decade. Even 30 year old bachelor condos here start at 250k. You guys have no concept of how expensive Vancouver is.
Prices in Toronto today are the "good old days" in Vancouver. You should count your blessings that you still live in such a very affordable market.
 

cdr108

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Some times I will look at the MLS listings for the GTA and I can still not get over how incredibly cheap Toronto is. Not only is the average price twice as much in Vancouver but there is no relatively low cost housing. In the GTA you can still see listings under 120k. That has been impossible for anything anywhere in the GVRD for well over a decade. Even 30 year old bachelor condos here start at 250k. You guys have no concept of how expensive Vancouver is.
Prices in Toronto today are the "good old days" in Vancouver. You should count your blessings that you still live in such a very affordable market.

instead of referring to the units as bachelors, 1B, 2B, etc because unit sizes have shrunk considerably in the past 10 years.

a bachelor used to be 500-600 SF and 1B at least 800 SF; today a bachelor will be 350-450 SF at most and some1B start at 450 SF.

currently, in the Toronto d/t area pre-construction (excluding the exclusive luxury buildings) is selling from $550-800 PSF. what is the PSF in d/t Vancouver?
 

phase2girl

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@mald1ta - You may have to go for a resale rather than new, I think. Condos in sq 1 Miss have become expensive!

Did you check out any of the projects further west like Stonebrook Phase II or Miracle in Erin Mills?
 

mald1ta

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@mald1ta - You may have to go for a resale rather than new, I think. Condos in sq 1 Miss have become expensive!

Did you check out any of the projects further west like Stonebrook Phase II or Miracle in Erin Mills?

I know, its crazy. But Limelight actually started pretty cheap! The Pine suite I liked started at $250K!
 

dwynix3

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I know, its crazy. But Limelight actually started pretty cheap! The Pine suite I liked started at $250K!

mald1a:

If you are willing to consider as far away as Mississauga then why not check out celebration conds at Warden/Finch. It's located right next to Bridewood mall, TTC access within paces away. One bedroom units at 479 sqf starting from $180K, so for your $250K budget you could end up getting a 1 plus den or small two bedroom. For an end user like yourself, this is an excellent alternative to living downtown, as it is still located well within the city, prices are lower than mississauga, think about the cost of your daily commute if don't work there. Call your broker, you may even get some incentives, not sure if parking and locker are included, but you can certainly bargain for them.

check out the floor plans:
http://www.buzzbuzzhome.com/celebration-condos-at-bridlewood/floor-plans
 
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