geo4

Is all property downtown this reasonable? It is steps to Queen Street and within walking distance of the FInancial district.

http://www.torontomls.net/PublicWeb/...72000&t=l&fm=F

Zoe Bell

ha! that realtor is the chairman o our condo board

Zap0ne

I guess it all depends on your preferences and expectations. Basement apartments are not everyone's cup of tea and the maintenance fee is difficult to justify for some without the gym and pool etc. that has become part of condo life

Zap0ne

Hey Zoe

Zoe Bell

well hello stranger !!!!!!!!!!!!!!!!

Tangram

That's awful. Like being in a coffin.

Siouxie

So basically, it's an 800 sq ft basement flat with an outside terrace.

You might want to view this video of another unit in the basement in the same block.. I think the photos in the advert are quite deceptive in giving an illusion of space.

Ben W Bell

Plus Carr Street while it has nice apartments on one side, isn't so hot on the other. Plus Queen and Bathurst isn't the most salubrious of areas when it comes to downtown. It's not awful, but could be better.

orly

One in the video looks nice enough. Small but if I was single it would be fine. Prices are laughable in Toronto though. Hard to justify unless you're making really good money.

If the one linked at the top is similar to the one in the video you're looking about $2k a month for the mortgage, maintenance and taxes.

Londonuck

Stick a one in front of it and it would be Vancouver.

geo4

Thats right but its all relative isnt it. So a junior lawyer making low 6 figures looking to get a foothold in the Toronto real estate market (as a theoretical example) would see this as quite attractive. Its better value to me than a 500 square foot condo for $420k as many on MLS are. That was my point that this seems a good deal.

JGK

$352 a month in condo fees ontop of a mortgage

The condo board must be spending like its going out of fashion or the buiding's a jerry built mess

Zoe Bell

Depends what it includes. Most include hydro in that

Ben W Bell

That's not high fees. For a condo that includes hydro, water, gas etc that's very low. For a unit that size in most modern condos you're talking around $450+ if there are shared facilities like gymnasium etc.

geo4

If you do a thorough analysis over a reasonable time horizon condo fees arent as unreasonable as they are made out to be. In a development like that probably includes hydro, landscaping, security and ipkeep of common areas. Put it this way you never have to pay $20,000 to replace a roof when you live in a condo or similar debelopment.