Toronto Condos (and commercial bldgs): here’s a great fun site I found who give us a clear graphical view of Toronto’s (and other metropolitans) tallest buildings.
Height of a tower, in our case, condo towers, can significantly affect the value of your investment. When looking into buying a condo in a tower, think of these issues:
1. How ihgh up do you want to live? if you’re afraid of heights, or want to be on a safe fire-department level, always stay on the 7th floor and below – b/c the fire ladder does not reach higher then seven floors – you didn’t know this, did ya.
2. How will your investment be affected? paying a premium for a higher floor does not necessarily mean automatic gains when you sell, or rent your place to a tenant. Consult a Realtor such as myself to get the whole picture of height vs. value issue.
3. Occupancy fees – the higher you are, the chances are that your occupancy fees will be lower. Why? b/c the builder moves residents in starting at the lowest floors, moving up. Your carrying costs for the place can be astronomical if you’re on a lower floor.
4. Final re-sale value – you’ve held to your investment for a few years and want to sell now. If your friend, who purchased an identical unit just sold, who you be able to get their price + the premium you paid per floor?
The link to SkyScraper is: http://skyscraperpage.com/diagrams/?cityID=12
Read this: we strongly recommend all interested buyers to be accompanies by myself (or a licensed Realtor) on the first time walking into any condo sales centre. Realtors get paid by builders and their service is free to you, neither the price of your purchase will change. A Realtor will guide you through the selection and the purchase process and negotiate with the builder on your behalf, as well will refer you to professional such as lawyers and finance/mortgage. Please call me to arrange 416.441.2888 x678.
Â© Yossi Kaplan, MBA
Specializing in Condos, Lofts, Investments and New Developments
Harvey Kalles Real Estate Ltd., Brokerage
tel 1.416.441.2888 x 678