Viewing a condo in Downtown Toronto (Fashion District)

This time I learned about "The Game" (sometimes) played in the property world, which gave me an AHA moment. A few weeks ago we went to an open house to view this beautiful 1-bed condo, strategically located in the Fashion District in downtown Toronto was perfect. And so was the price-at least that's how it seemed at first! More about the place, price, and open house, in this video! #condotour #torontorealestate #livingincanada
Share with me your thoughts and comments about this in the comments section!
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[@sur973]

While I’m a newcomer to Canada, my dream is to own a condo exactly like this one close to the city centre, so this video series has been quite helpful in making the process accessible and easier to understand. Thank you for sharing your experience with so much honesty, clarity, and insight!

[@LivinginCanada]

It's challenging to figure out so many things as a newcomer, but it's doable with some patience. Thanks for your kind feedback, I'm glad to know it has been helpful!

[@ua_andrew_ca]

Thanks a lot for the video. It's very informative and important 😊

[@LivinginCanada]

I'm glad if it's useful in some way!

[@leophnguyen9333]

Thanks for sharing with us your journey! Can you also share your opinion on checking a condo's construction quality too?

[@LivinginCanada]

You're welcome! Cracks in the wall, and thickness of the walls are some things to look out for. Any architects/engineers are welcome to add to this thread!

[@mdte5421]

And as heads up , you will no longer find a condo less than 500k in Toronto. Even Scarborough very rare will find anything less than 500k unless it is in a very shady neighborhood !

[@LivinginCanada]

You're right, it's extremely difficult to find anything decent below that price point. Usually there is something 'off' with properties that are central but in the 400s. But well... the story goes on and *spoiler alert* will have a happy ending. Cheers!

[@aalijenabclothingline8573]

First of all thank you for All the infos and details.you’re so kind and generous thats obvious. Keep doing more videos like this I’m really enjoying watching your videos,its really helpful

[@LivinginCanada]

Thanks for your kind words, I really appreciate that. Have a nice day!

[@camillegroulx7420]

Thank you for sharing your step by step home buying experience. I remember that you only look for condo. Why not consider a landed house with backyard / front yard somewhere further from Downtown, but still in Toronto (like in North York Area)? Is it just your personal preference or the price is just cheaper that way?

[@LivinginCanada]

Price is definitely a huge consideration. Even further north, landed houses (detached, and not requiring significant renovation) cost $1m and up. I had considered looking outside of the GTA, e.g. Hamilton, London, even Kingston, but after a lot of weighing off, I decided I still wanted to live close to the center of Toronto. Interesting question btw!

[@teju7616]

Is there any financial income necessary to buy unit I mean monthly income should be more than 10000$ like that? What is the eligibility

[@LivinginCanada]

Yes the mortgage lender will assess your income and determine how much you can borrow.

[@techih]

This is exactly what I experienced when I first looking for condos in Toronto. Every time I saw an attractive price and I asked my realtor to check for it and he will tell me this is so called “one day offer”, which means we will compete with others and joining the bidding war. You will be so misleading if you are a first time buyer in Toronto.

[@LivinginCanada]

It is confusing as a first-time buyer. After knowing how it's done, I look at prices with a totally different eye now. Thanks for sharing your experience!

[@mdte5421]

On france it is illegal to sell over the original listing price . I just bought a condo in Scarborough a couple of weeks for 480k and it was listed for a little of 400k.

[@mdte5421]

And almost all condos in downtown area will have 399k to create bidding wars. Though bidding wars are not as bad as before these condos are dwelling much higher than399k.. close to 600k

[@LivinginCanada]

Congratulations to you for finding that gem! Interesting to hear that there's such a rule in France.

[@LivinginCanada]

Yup, that's what I've found... $399k for a nice condo is just a hook price.

[@gourabsarker9552]

Mam do you earn 200000 dollars a year in Canada? Plz reply. Thanks a lot.

[@LivinginCanada]

Highly skilled people can definitely earn that amount after a while in their careers, in Canada!

[@nsevv]

Probably it is a known haunted location. Kitchen is too small for even 1 person. I would have only given 236k for such a lame low quality tiny unit with a tiny kitchen.

[@LivinginCanada]

I liked the size and the quality, but it turned out to be overpriced.

[@Greasyhair]

Compared to US, houses in Canada look so dull and ugly.

[@LivinginCanada]

I bet in the US there is a much wider selection when it comes to properties!