Navigating Fabulous Toronto Condo Listings and Deciding Between a Pre-Construction Condo for Sale or a Downtown Condo for Rent If you’re new to Toronto, buying a home in our fair city can be a daunting process. Even trying to rent a condo in downtown Toronto can take forever when you don’t know what you want or what you’re doing. The city’s top real estate agents have seen it all – all the mistakes, all the disappointments, all the heartbreak – and have compiled this advice column for you so your transaction can go smoothly.
Know What You Want
Toronto is a huge city with thousands and thousands of available properties at any given time. If you want to have a hope of finding one that suits your needs within a reasonable time frame, you need to have a wants and needs list that will help your realtor narrow down the list of fabulous Toronto condo listings into a manageable dozen or so properties. So before you even meet with an agent, consult yourself and your family and generate a list of what you’re looking for in a property. One-North Eden showflat will require the advice of experts at the platform. You can get the best deal to have the benefits. The services are according to the requirements of the clients and customers.
Stay Within Your Budget
Buyers new to Toronto often have unrealistic expectations of what they’ll be able to afford and end up overreaching on their budgets to maintain the standard of living they’re used to. But this is a bad idea, because soon their Toronto mortgage loans will eat up too much of their income (over 30% is never a good idea) and they become “house poor” – all their money tied up in a property – leaving them unable to pay off their car loan, send their kids on school trips, or replenish their wardrobe.
Be Prepared for a Bidding War
Toronto is a very competitive market, so if you like any of the Toronto condos for sale that you see you will need to act decisively and put in a good bid before another buyer scoops you. There is no room for hemming and hawing and thinking it over for a few days unless the property is languishing. Likewise, you will not be able to low ball the seller, especially if there are other interested parties. You will have to go in with your best offer and hope for the best. Don’t underbid to leave room for negotiation.
Know Your Rights
Many people choose to buy pre-construction condos in Toronto so they can have the latest, trendiest units, but end up waiting months or years past their expected move-in date because of contractor delays. Always have a lawyer look over your pre construction contract to make sure you have a recourse if this happens – a loophole that will allow you to back out with your money or force the contractor to get a move on or you could be waiting forever.