Spring into action in a new condo
March 27, 2020
Ah spring, the time when greenery replaces dingy snowbanks, temperatures graduate to sweater weather, and new condominium developers in the Greater Toronto Area launch sales at an increasing number of residences! Remember that spring is also one of the most popular times of the year for people to shop for real estate. That means if you have a notion to buy a new condo as an investor or to live in yourself, time is of the essence to get the best selection and prices. The earlier you buy in the marketing cycle, the more you benefit from choice, price and better weather.
Of course, with so much information available online these days, weather has less effect on physical trips to presentation centres than it used to. Still, a personal visit to sales offices goes a long way in helping people make their purchase decisions. Touring a sales office and/or model suite(s) offers a firsthand feel for each developer’s quality and design. Model suites, in particular, help potential buyers envision their lives in the condo. For some, it is an informative way of translating two-dimensional floorplans into reality. In addition, sales representatives onsite are able to answer any questions that might arise during your visit, such as what the abbreviations on the plans mean.
I cannot stress enough how important it is to ASK questions. A new condo is a major life purchase, and you need to understand exactly what you are buying. Yes, much of it is explained online, but you have to find out about condominium documents, maintenance fees and the like so you can take ownership and not have any unwanted surprises. All questions are valid, and if you have any queries about anything, believe me, you are not the first.
Spring condo shopping also reminds me of the freshness you experience when you walk into your brand new suite. You are the first to live in the surroundings, use the appliances, etc. You are also among the first to use the spectacular amenities featured in all new residences today. These include wonderful outdoor spaces such as courtyards, terraces and rooftop gardens. And if your suite includes a balcony, you have all the more opportunity to step outside and enjoy.
Yet another bonus of buying a new condo is enjoying the peace-of-mind knowing that your building is constructed with the latest and greatest required by Ontario Building Code. Today’s residences are more solid, beautiful and sustainable than ever before. Designs are innovative, combining striking architecture with suite layouts that maximize square footage. From compact studios to sprawling three+ bedroom plans, there is something in the way of a condo for everyone in Toronto and the GTA. Right now, demand exceeds supply and prices are on the rise. Mortgage interest rates are still historically low, so that is a major impetus to buy now rather than later.
Thinking of a new real estate purchase? Think spring. Think fresh. And by all means, think condo!