With abundance of condos being built in the Toronto Coty, investing in to Condos has become an integral aspect of the real estate market. Whether you buy in a buyer’s market or seller’s market, pre-construction or resale, there are some imperative points to take in to account while buying a Panda condo in Toronto City for investment purposes.
- Condos offer easy access to transportation tend to hold their value better compared to properties without access to a major public transit or highway. A few instances of condos with subway access are the Aura and the Arc. The Arc is located at the Bayview and the Sheppard and has a very close access to the Bayview Station. The Aura, on the other hand, happens to be a 75 storey building at the Yonge and Gerrard will have direct underground access to both the path as well as the subway system. Same is the case with Panda Condos, which is a 35 storey building offering great access to transportation.
- The old adage of purchasing the most undesirable property on desirable streets can also apply to purchasing a Panda Condo in Toronto – in a slightly different manner. When you are considering a Toronto resale condo to invest in, do not opt for the best suite in the building or even the one that has been staged. Such units tend to command a premium in pricing for showing well. Purchasing a unit that requires a bit of cosmetic work will get to offer you a better return down the road, compared to a unit that has been professional staged and painted to sell.
- If you are leaning more towards buying a pre-construction condo for investment purposes, it is imperative that you purchase through a professional builder. For instance, the Canderel Stoneridge, Great Gulf, Tridel and Lifetime Developments all have amazing reputation for building quality products. Even if you pay a bit more per square foot for their end product, the returns you will get will be must greater down the road. Buildings that have already been built with better features and finishes will most certainly common higher resale and rental values upon completion.
- Several investors prefer opting for investment units whether it is an existing condo or a pre-construction unit with the intention of renting it out. This concept is amazing to cover all your monthly costs of carrying a Condo in Toronto.
In short, it is imperative to take into consideration the aforementioned aspects when looking for an investment Condo in the city of Toronto. With numerous condo options available, take your time to carefully select your investment estate to ensure it allows you to rent it out easily and also offer you a great return on your investment down the road.