Give me one good reason why I shouldn't buy this condo in Toronto for $349K?

350k is literally nothing. Who are you? Buy it faggot.

some redicilous rockstar bilboard on the left there blocking the nice view

>589 Sq Ft 1 Br
>Rooftop S/City View Pool-On Site in TORONTO, how many weeks can you use this?

349k sounds like a lot of money for 1 Br cuck box. Go for it OP. Have fun inviting over a woman to peg you.

Freedom isn't free. Check your privilege.

Rob ford is a definite plus for Ontario now, I’d like to be around in Toronto these days to witness maximum liberal butt hurt.

Eh... we will see on that. Ontario is messed though. I'll try not to complain to often about the conservatives being in.

good location, price is alright. strata fee is kind of high. i'd ask for the strata minutes to find out if there are any imminent repairs needed and what major repairs happened last.

Whites are basically a minority there.

Need a better reason?

realtor.ca/Residential/Single-Family/19944234/812--18-YONGE-ST-Toronto-Ontario-M5E1Z8-Waterfront-Communities-C1

thoughts?

studio but fucking prime location

might as well live in a shoe box. Developer here. We get the cheapest shit from chine and make your walls out of paper enjoy listening to your chad naighbour fucking new bitches every night, your pipes blowing up, toilets not flushing, and elevators braking weekly. Enjoy the street shitter of a security at the front desk and a view of other retards living same retarded life style as you.

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studio? no.

One of these condo buildings is in ontario canada. The other is in the previous USSR. Spot the difference, that should answer all your questions.

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your comparison is an oversimplification. OP is not just buying a unit in a building, he's buying a unit in a building in a LOCATION. you're not a brainlet that thinks people only buy property based on the actual property and not the location right?

>Toronto
>Muh location

Clearly you missed my fucking point

you're a retard, fuck off

and what's the point in comparing a building in Ontario with a building in the USSR?

Why the FUCK would anybody buy a condo in Toronto right as the bubble is popping

>price
isn't the price pretty good, it's less than $1k/square foot, which seems to be the going rate in downtown Toronto

then what should he get?

I too am looking to buy a condo in toronto. but everything seems so expensive

If it's a condo built in Toronto in the last 10 years it is basically garbage, watch this documentary for more information

cbc.ca/doczone/episodes/the-condo-game

This

See this documentary for more information, people buying condos in Toronto and a year later they are already falling apart

Developer here. Actually USSR buildings are pretty good they used bricks to build those things. Cant hear neighbors, super warm in winter high ceilings huge rooms. excelent pluming.

is that the one above the beer store

yeah

Developer here. Right on! Exactly what this chad says. I would go back a lot further than 10 years. Think 20. If you cant afford anything over 1-2mil or custom built house then you are fucked.

You want good condo? Palace Place or Palace Pier type of condo. Look it up buy it and stay wealthy.

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Ceiling is leaky, poor foundation. And for this reason, im out

muh housing bubble

Its hard to believe in this if you are a zoomer (20yo) can someone elaborate

To clear that up. 1-2mil but nothing that was build in the last 20 years. Stay the fuck away from that. Unless you know exactly what went in to the building and where it came from.

are there any good current developers? Tridel?

w-what if you can't even afford a $500k condo? i'd have a 20% downpayment for a $500k place, but mortgage+condo fees+property tax will be 70% of my income

Because Toronto is a shithole. Why would anyone want to live downtown, much less pay such an unreasonable price

Its a sink hole. AKA they sell life style, you buy in, get rekt. I would go for older apartment buildings that have been renovated from ground up including piping. Maybe around high-park area. Or some of the older 2 story apartments near st.clair and young. "Good developers" lol. Unles you have $ to hire a private developer you will bask in the same shit as the 99% of Torontonians. Save your money and hope better times will come or a single 5.5 black swan earthquake levels entire city.

what about etobicoke?

realtor.ca/Residential/Single-Family/19954586/1711--625-THE-WEST-MALL-CRT-Toronto-Ontario-M9C4W9-Eringate-Centennial-West-Deane

Toronto is a cesspool. Condo's are a poor investment. Toronto is in a real estate bubble. Those glass condo's get hit with huge special assessment fee's because they break down.

>In Toronto

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Honestly I think it looks kind of comfy. I doubt its a good investment but if you have the money from crypto and Toronto is where you want to live then cool. So many basement kids here have no idea...

FOUR HUNDRED
AND
NINETY
EIGHT
DOLLARS

MONTHLY
MAINTENANCE
FEES

HOLY FUCK THE KIKES ARE STEPPING THEIR GAME UP

And we just keep taking it kek

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i mean why not it's near u of t you can rent it out to some rich chink

>free healthcare
>legalized weed
Honestly why the fuck not?

>free healthcare
>free
>provided by government
>free

It's okay, just half your tax dollars go to keeping 90 year olds alive.

>free
40% in taxes is not free

>legalized drugs
not important for me

hahaha we sure are. we're all just a bunch of cowards living on our own little island screaming at the other islands on how they should live.
We're scared to do something, best to just stick to ((their)) laws and rules so we wont have to go to jail or get into twouble teehee. Im a good goy! Maybe my STEM study will net me 100k a year, matter a fact, everybody who studies and works hard should be making 100k a year! Yeeeeeeeehhhhh

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>dude weed lmao
Grow up and be man

>the guy at 31:50
what was his problem?

>Canadian cities have more niggers than most American cities

But muh weed

Good trade off, leafs

> Canada

i'm from Toronto and traveled to NYC. you are categorically false

downtown toronto and vancouver are full of chinese though

Its in Canada.

>Maintenance Fees
>$498.24 Monthly

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>mom has been thinking about getting a condo when she's ~5 years from retirement
How do I talk her out of this stupid idea? I figured she'd have more sense after being fucking foreclosed during the 2008 housing crash.

MFW this would be literally double the price in any reasonable nice neighbourhood of London.

yeah but London is actually an important and interesting city.

Toronto is like a bigger Cleveland.

Wouldn't be surprised if it gets bid up past asking anyway

Worst photograph of an apartment ever?

Yep. I wouldnt buy a condo to live in unless it was at least 1.5K sqft & 10 foot+ ceilings and an open floorplan. Cant imagine living in a cuckbox.

We know where you are going to live OP.

Nope. Those days are OVER.

Two interest rate hikes before EOY, means people are not going to get qualified for these mortgages, they will have to pass a 7% stress test.

Prices are going down in the next 2 years.

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housing bubble incoming in Tor/Van

The commie one looks comfier

That's actually relatively low. These fees average $700-800 monthly for Toronto cuckbox owners

except it's foreigners buying these places as investments. they don't even need the mortgage

Stupid gooks.

No man.
USSR apartments are made of concrete panels, connected by ferrous hooks.
Those hooks will reach it's lifetime and disintegrate from oxidation within 40 years.
They were not even projected for such long use.
Spoke with concrete manufacturer and two architects on that topic.
It's a scam. We are going to see a literal apartment crashes here in eastern europe.
Buy only brick apts.

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Because you could buy a house for the same price anywhere else that isn't Toronto

Do you drink?
Then fuck off

Yeah Canada is fucked not sure how people can afford such expensive houses

I work in the trades in Edmonton which is like the cheapest large Canadian city and even buying just a basic ass 300k house it would take a little over half of my post-tax income just to pay the mortgage and insurance and utilities and property taxes and all that shit

Developer here. That is a start. They tend to go up to 800 and up depending on floor, area, and condo. It is a trap so stay the fuck away.

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fuck off to pol

>I dont like your opinion, back to pol REEEEEE

It has a painting outside its balcony.

Because it's a condo

That's a meme.

Stupid Chinks and money launderers from Armenia and Iran are less than 10% of the demand.

Precisely, imagine the horror some of these housingcucks in Toronto will face when they have to re-new a $700K monster plywood mortgage at 2% higher.

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What horror? Just extend the amortization period.

see
It's not foreign investors driving the prices up. It has been low interest prices and the ability for any moron to get a loan...coupled with speculation.

The foreign investors is all just FUD used by politicians..

What is your point? The bottom pic is obviously the Toronto condo.

In general buying condos in Toronto right now is a pretty bad idea for several reasons.

1. The entire building might be a pure investment vehicle, meaning it was slapped up quickly to attract investors to then flip, sometimes before the building is even finished.
2. Even if the building wasn't designed purely for people to flip, it's almost guaranteed that it was constructed using the cheapest materials possible, in the shortest period of time. Expect regular AC or heater breakdowns, an insufficient number of elevators which break down weekly anyway, etc.
3. If you buy a unit form someone who expected to flip it, then the fixtures will be the cheapest possible, and those are unimaginably bad.
4. The market is so overpriced that you're probably better off renting for the rest of your life because you might manage to even save money that way. Don't expect a crash, people have been waiting for one for over twenty years.
5. The "low" maintenance fees are a trap. Maintenance fees are subsidised by the developer for the first few years. Once that subsidy is gone expect to pay something like one thousand CAD per month.

Florida has pockets of amazing places but yes generally it is a sketch place but those pockets are fucking worth it.

Think high risk, high reward kind of setting. Plus the casinos in the state are a little bonus since i'm a degen gambler lol.

Here's hoping. I doubt it will happen. I still see houses going for way over asking.

>there are people who will pay over a million dollars for a cuck box in some crime infested shit hole of a city

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ottawas better then torahna

I hear there's a big homeless problem in downtown Ottawa these days though. Also the city centre is quite small, so there's not much to do.

/thread

Because condos are FUCKING SHIT. Buying a condo is a bullet straight to the fucking temple. First of all theres about 27728828382 condos per square mile in Canada, so dont even consider selling that shit considering anyone can find a brand new one at cheap price, so nobody cares about your old condo even though its "renovated",no one gives a shit. Ive bought one in 2009 ,rented it for 4 years and in 2013 i couldnt sell it, i was able to sell it in 2017 loosing only 5k, which is heaven scenario when selling these absolute PIECES OF SHIT. And the guy i sold it to is already trying to sell it. Fuck these things

All

what is the proper amount of savings/salary, and proper first time home buyer mortgage loan % to buy say a 450k house.

I got about 80k saved up
making 60k at the moment

Toronto sucks ass, went there and the suburban sprawl was fucked, took at least 1 hour to drive anywhere, massive freeways and power lines everywhere, expensive as fuck, hyperliberal retards everywhere. It's basically a shitty cold Los Angeles with asians and pakis instead of mexicans

Yes, condos are a commodity scam made for speculators, not an made to be an actual home

Going in with less than 20% down makes no sense. The CHMC insurance will eat up your principle if you go in with less.

Why have i been hearing about first time home buyers getting super low loan rates.
low enough that you dont want to put anyhting down

Checked fpbp

They are going to get buttfucked when they renew their mortgage in 5 years

Canada is in a bad situation regarding this, in the American bubble interest rate were locked in for 30 years unless you got one of those NINJA meme loans that start with low interest rate then increase after a few years, in Canada EVERY loan is like that