Goodbye, Yard Work

No more waking up early in the winter to clear the snow off your driveway and car. No more hours spent in the sweltering summer heat as you mow the lawn. When you live in a condo or loft, the only outdoor space you’ll have to care for is your balcony. That means more time to sleep in and enjoy the seasons like you’re meant to.

Hello, 24/7 Convenience

With Downtown Toronto at your doorstep, you’ll only a few minutes away from your favourite brunch spots, shops, and bars. From a Jays game to TIFF to a concert at Scotiabank Arena, the city’s top attractions are right outside.

Or, you can just as easily pack up and head out on vacation at any time, without worrying about your home. All you have to do is lock the door and go. Building amenities like 24-hour security have your back, and don’t forget the many other advantages to living in a condo, including underground parking, storage, gyms, saunas, pools, rooftop decks, concierge services – the list goes on.

Whether you want a serene getaway or a home to entertain in, there’s no better place to be than in one of the city’s top condos or lofts.

Y. Williams

"Dale Ann not only found a place that met our needs but our desire for a fantastic lakefront view, too – and it was under budget. Dale Ann is a true professional and her experience in the industry shows in her performance as an agent!"

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Investment FAQ

Here are some of the most common questions about the financial side of buying a condo, and the answers that will help you decide if condo living is right for you.

If you’re financially prepared to purchase a condo, then the short answer is yes. By owning a condo, you’re building equity in your own investment instead of your landlord’s. There are, of course, other financial responsibilities condo owners have to take on that renters don’t, but in the long term, owners tend to come out on top. If you’re considering buying a condo or loft and would like to discuss your next steps, let’s meet.

Down payment requirements differ by price. Here is how they are structured:

  • For a condo up to $500K: The minimum down payment is 5%.
  • For a condo between $500K and $1Million: The minimum down payment is 5% on the first $500K plus 10% on the remaining amount.
  • For a condo $1Million or more: The minimum down payment is 20%.

Keep in mind that the amount of money you put down will influence the type of mortgage you get. A down payment of 20% or more qualifies you for a conventional mortgage, while anything less requires a high-ratio mortgage and mortgage default insurance.

If you’re buying new construction, the deposit structure is unique and can differ depending on your contract. Typically, you will need a down payment of 15%-25% which is spread out over time. You will put 5% of the purchase price down with your deposit (within 30 days of purchase), 5% down within the next 60-90 days, 5% down within the next 90-180 days, and 5% down at occupancy.

Yes – property tax is typically lower for condos compared to semi-detached and detached houses since they tend to cost less. Your condo’s property tax is based on the assessed value of the condo; if you’re buying a resale unit, you’ll receive the information you need on property tax costs. If you’re purchasing a new condo, the City of Toronto will provide an estimate of what your property tax will be.

No, property tax is separate from condo fees. Property tax is charged by the municipality you live in, whereas condo fees are charged by the condo association.

Your condo fees are your contribution to the building’s operation and maintenance, and a portion usually goes into the reserve fund, which covers repairs on the property. Fees can cover utilities such as water, sewage, trash, central air, heat, cable, and Wi-Fi. Your condo fees and what they cover will depend on your contract and the building. Remember, the more amenities and utilities that are covered, the higher your condo fees may be.

Ready to Buy?

I’ll help you find a place you can invest in, entertain in, and unwind in, all with a great view. Book your first appointment with me today.

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