Toronto is one of the most stimulating and vibrant cities in Canada. Boasting excellent food, culture, entertainment, and nightlife, it has come at par with some of the most popular cities in America and Europe. Burgeoning with activities and excitement, Toronto today is garnering great interest as a real estate investment destination as well. Whether it is Toronto commercial real estate or condos for sale in Toronto, the investment in real estate here seems very promising in the long run. Besides ensuring a great return on your capital, purchasing a Toronto condo also brings forth several benefits as an investment option:
Affordability- New condos Toronto for sale or established condos for sale in Toronto; both render a reasonable investment option compared to a single dwelling unit. A condominium purchase can be accomplished on a modest budget, unlike a standalone unit.
Less Maintenance- being a multi-dwelling unit the maintenance expenses are shared by all the units henceforth minimizing the expenses. Every Condo in Toronto has an association taking care of the maintenance work, sparing you from tasks like fixing the roof or maintaining the lawn. All the common areas are taken care of by society and you or your tenants have to worry only about the interiors.
Rental Options- Toronto condo would fetch you a respectable rental value, an addition to the value gain of your capital.
You can also enliven your life by using your Toronto condo as your residential option, enjoying an array of benefits:
Safety- Staying in a multi-dwelling unit is relatively a lot safer than a standalone option. Proximity to your neighbors is indeed an advantage if you travel a lot or live alone. The common areas and shared walls though narrowing your privacy serve to guard your interests against various crimes.
Social circle- A standalone house certainly offers you great privacy, but also restricts your social interactions and joys. Residing in a Toronto condominium, you have to share the common areas like swimming pool, laundry area, garden, etc. with the other residents, providing ample opportunity to know your neighbors well. You enjoy the pleasures of a social circle yet your privacy is maintained within the wall of your home.
Toronto, the city - Toronto is an exciting and well-developed city. Residing in Toronto you have great exposure to world-class amenities besides various contemporary and conventional art museums, appealing to your aesthetic senses as well. Being in Toronto you can enjoy the exposure to the modern culture while keeping close to your roots.
So you've decided to purchase Pre construction condos in Toronto. Congratulations! Now here comes the hardest, but also more important decision - choosing the right floor plan. It is important to choose a layout that will accommodate your personal needs but will also prove to be attractive to potential buyers in the future. One of the most important features to look for when considering a floor plan is the location of the windows in the unit. It is always more attractive to have windows in all the bedrooms and is a proven fact that natural light increases the resale value of the unit.
Corner units typically have twice the amount of natural light which is an extremely attractive feature for future buyers but beware of oddly shaped corner units. One aspect that is often overlooked when choosing your unit is the actual location of the unit within the floor plan. A unit within proximity to the elevators can prove to be very frustrating as noise levels tend to be high. This brings me to my next little piece of advice. Stay away from the garbage shoot!
Many purchasers have been disappointed to learn that once they have moved into their condo, they are constantly bothered by the sound of the garbage falling down the shoot. This has proven to be a larger problem for residents on lower floors especially when the garbage shoot runs behind their laundry room, which they typically do.
Always ask your sales representative to show you the unit located within the entire floor plan. When choosing your floor plan don't forget to take into consideration the closet and storage space. Builders today are building taller condos however actual unit square footage is getting smaller. With smaller square footage, large closets and storage spaces come in handy, especially if owning a locker is not an option.
Being able to make good use of your space is extremely important when choosing your floor plan. This leads me to my next tip on choosing a functional layout. Even though pie-shaped units or units with sharply angled walls have a dramatic architectural effect, they are extremely difficult to furnish and create a lot of wasted space. Evenly shaped rooms, such as squares or rectangles do not present this problem as they make furniture placement a lot easier and makes the space more useable. Take into consideration the above-mentioned tips when buying a pre-construction condo. The beauty of purchasing pre-construction is that you can choose the floor plan you like so why not choose smart?