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With the average price of a detached home out of most first-time buyers' reach, those with less than $1 million to spend have a few options. A lot of people are becoming creative with their buying power and choosing to utilize more unusual or unconventional options to solve the issue of affordability.
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Buying a condo unit during the preconstruction phase might seem to be a straightforward proposition. However, in real life, buying a unit before it's constructed may work out to be anything but straightforward.
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To many buyers and unit owners, condominium ownership may still be ambiguous and convoluted. Since condos aren't based on the same ownership structure as street-level traditional (freehold) homes, comparing condos to traditional homes is like comparing apples with oranges.
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A condo unit will remain a viable real-estate ownership alternative for as long as its monthly maintenance fees and realty taxes remain below the monthly rental of a comparable unit in another condo complex or apartment building. Once the condo's maintenance fees and realty taxes exceed the cost of comparative rentals, there will be no demand to buy it.
TORONTO - When Barbara Lawlor first joined Baker Real Estate, a Toronto firm that markets and sells new condo developments, over two decades ago, selling a condo unit without an accompanying parking s...
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If you've been looking at B.C. real estate listings for any length of time, you've likely seen the phrase "remediated" at least once, especially if you're considering older construction.
Rental demand in Canada's largest condo market surged to a record level in the last three months, according to new data from market research firm Urbanation. The report shows a trifecta of brok...
Last December a new B.C. government directive went into effect, requiring condo buildings to prepare a depreciation report that gives prospective buyers details about expected long-term expenses or problems. Despite the new rule, only about one quarter of the stratas across the province have commissioned depreciation reports so far.
Canada's real estate market may look healthy, but it's showing signs of fraying in certain regions and prices could fall by 25 per cent in the long term. So says a report by Capital Economics, a consu...
A simultaneous fit of euphoria and vertigo weakens your knees as you gaze out the living room window of a brand new 22nd floor luxury penthouse. Amidst the flood of emotions and peer pressures, you manage to clear your head and ask yourself one sobering question -- is this a good long-term investment?
Despite the rumours surrounding the "real estate bubble," there is one thing that is certain; lenders are tightening their belts and imposing greater restrictions on both consumers and developers. For those that aren't aware of how the process works for a new construction condominium, here's a quick lesson: Developers in Canada need to sell 75 per cent of a project in order to get their financing. In Canada, basically, not enough sales means no money therefore in some circumstances, no project. So where does that leave investors?
Renting is always an option but the allure of owning your own home is hard to beat! And over the long run owning a home that is appreciating in value is a good investment. Where else can you enjoy the comfort of an investment and pay no capital gains when you cash out?
Conventional wisdom is that this is the market at work. This is not the market at work. This is manipulation of a government system of open-ended mortgage insurance that is poorly supervised. What is going on here is a deluge of hot money from abroad that is creating an artificial, and potentially dangerous real estate bubble.
Perhaps you're thinking of downsizing since you don't need the four-bedroom house anymore. Sick of shoveling the snow? Want more time to travel? A hassle-free condo lifestyle might be what you're looking for. Condos and co-ops are both good alternatives to owning a house, but there are pros and cons to both.
Until a few years ago, pre-construction condos offered buyers a true deal compared to resale properties. You would have likely paid $400 per square foot for pre-construction while prices at the two-ye...