Industry All Stars - Barbara Lawlor

Industry all-stars are the unicorns of the pre-construction industry. Why? They are often called upon for their expert knowledge of this very niche industry, assisting in key sales and marketing decisions in the way of pricing, design details and much more for new projects across the GTA.

In fact, their companies are often the conduit between you and the builder, and their staff are at the frontlines collecting and sharing information.

We asked industry all-stars three simple questions — what’s hot, where they see the market going, and where they would buy...

Barbara Lawlor, President and CEO of Baker Real Estate

What’s hot in the world of pre-construction real estate this year?
The hottest trends have to do with practicality and luxury.

The flex room is big right now. This space is larger than a typical den, so it can accommodate a pull-out sofa for overnight guests or serve as a junior two-bedroom rental. Amazing concierge stations. With the proliferation of online ordering, we are seeing concierge stations with facilities to receive large quantities of deliveries, including hot and cold storage for food ordered online, so residents can pick up their meals on their way home.

Where do you see the GTA pre-construction market headed this year?
The new condominium market had a great start in 2019, and we are heading for an even greater year overall. Last year, we saw hesitation from potential purchasers, largely because of the ‘stress-test’ the government implemented, causing pent-up demand. Mortgage interest rates are still manageable, and there is talk of lowering them again. Then we have the federal budget, which makes provisions to help first-time buyers applying for insured mortgages. Things are definitely looking up. New construction condos are the strongest arm of the industry and are leading the charge once again.

If you were buying today, what would you purchase?
I would certainly make sure that my financial portfolio included at least one new condominium suite, preferably a one-bedroom plus den or two-bedroom layout for flexibility in the target rental market. In addition, I always buy in the very best location I can afford, which is something I and my team at Baker have been advising our clients for years. In a nutshell,
I’d go CONDO!