What $700,000 Gets You in Downtown Toronto, Ontario | Condo Real Estate & Canada Housing Market

[@FrankHuynh]

Do you think these condo units are worth it?

[@wesbrown738]

I think when you look at the numbers, no. However there may be unwritten perks like being close to family or getting that big city Canadian experience that might make people overlook a lot. I recently moved away from Toronto but I may try and move back in the future to be closer to family.

[@FrankHuynh]

@@wesbrown738 nice, I hope you one day are able to move back to be closer to family

[@dennyc9159]

Not at all. If you have a job close by that is one thing. After a while you might get a different job which may or may not be in the same area. At one time I thought that being close to so much stuff is great, but eventually I would just go to like 4 or 5 of them so the variety doesn't matter that much. The older I get I just want someplace quiet and more space.

[@FrankHuynh]

@@dennyc9159 peace and quiet is always great!

[@tns-rox]

Yes, because they'll probably dramatically increase in price during the next decade, making their current price look like a bargain in hindsight.

[@edwardlin4780]

Moving to Yukon

[@FrankHuynh]

see u there!

[@Lucas-vd2gx]

Household income of $170k, $3.5k a month on rent for a 2 bedroom + den in Toronto, Downtonw, $300 on car insurance + $2.5k at least on all groceries and bills on the credit card. We can not afford anything.

[@FrankHuynh]

i feel u - cost of living is getting quite difficult these days

[@alextoronto5840]

Do you live by yourself ?

[@Lucas-vd2gx]

@@alextoronto5840 my wife and I plus a baby

[@MarkYeung1]

Thinking about moving out of the city?

[@Lucas-vd2gx]

@@MarkYeung1 out of the country too lol

[@tns-rox]

Enjoyable to watch your real estate tour. Very interesting to learn about the Toronto market, and I'm looking forward to watching more videos. Your open and honest assessment of the market is refreshing, Glad to hear you address that at the end of the video. Continue to be true to yourself, and I'm wishing you much success! 👍

[@FrankHuynh]

You're welcome, glad you enjoyed the tour - and yes got to stay true to myself (hope it doesn't hurt me in the long run lol)

[@tns-rox]

@@FrankHuynh 🙂

[@DamienMalakay]

I lived in Vancouver for 18 years and $700K is not bad honestly. I bought my condo outside of Vancouver for $545K 6 or 7 years ago because downtown Vancouver was out of the question in terms of price. If you're single and young you couldn't buy a better place than the last condo on this video but if you're a couple and you're planning to start a family get out of Toronto and come to Calgary and buy a detached house before it becomes something unattainable in the future.

[@MercuryRiZing1111]

Go with that attitude you’d have with seeing a person face to face who’s pics you liked from a dating app - rarely the same. Thanks for this, well done but I would’ve liked to have learned about the amenities- gym? Concierge?

[@FrankHuynh]

lol true!

[@stoneneils]

Amenities, gym and concierge all tend to CHANGE once the building is filled so NEVER buy a condo for that. I've seen pools permnanently drained, gym equipment go to hell in months and not repaired. Concierge they all have 24/7..to start.

[@MercuryRiZing1111]

@@stoneneils - good to know! And sad.

[@bbittersweet]

Most dens don’t have doors.

[@NicksDynasty]

Yup. Land and units are scarce in Prime locations so that drives the price. I would be totally fine without a parking space because I could walk and bike everywhere I'll take the one with the lowest price 🤣 rent it out on the days I'm gone

[@FrankHuynh]

Nick man! Time to move to Toronto and bring that food truck too lol

[@Allysakayzz]

Moving to Nunavut! 😩

[@FrankHuynh]

lol too funny

[@squally2008]

Try Edmonton first haha

[@FrankHuynh]

@@squally2008 maybe!

[@LK-iy9qw]

​@@squally2008Forest fire!!!

[@50tigres79]

Prices are crazy. It will be more crazy after the interest rate drops.

[@FrankHuynh]

that could happen! thanks for watching.

[@davidhughes6048]

Nope. Prices will continue to fall. Nobody wants tiny 1 beds for 600k. The math doesn’t work.

[@dchang1983]

This is actually pretty cheap when compared to downtown Vancouver for the 1 bed 1 bath here you probably looking at 900K to 1M.

[@FrankHuynh]

wow thats pretty wild in vancouver

[@acadian76]

@@FrankHuynh Yes, Vancouver is crazy expensive - $500,000 and up for a 400 square foot studio. I actually liked the second unit the best as I liked the greenery in the view.

[@FrankHuynh]

@@acadian76 Nature + Bigger city vibe = expensive lol. Nice, the 2nd unit is not bad too

[@robocop581]

Condo dues in Toronto are significantly more than Vancouver

[@mciti2594]

How much is the monthly HOA? (If there is one)

[@FrankHuynh]

Great question, here's the approx. condo fees: UNIT 1: $463.60 ~ UNIT 2: $576.74 ~ UNIT 3: $794.69 ~ Thanks for watching!

[@stoneneils]

@@FrankHuynh lol that is the part that made me quit the business and the city (investment condos in to 02-08).....i am now in montreal and my entire rent+utlities+heating is LESS than the condo fees on UNIT 3!!! And I'm right downtown in a safe nice building. Condo fees are why nobody should buy in a tall glass tower...only small condo walkups...4 stories/16 units max.

[@ciwane1428]

Toronto and Vancouver are the crazy city’s in Canada. Everything is very expensive for nothing ! But Canada is big country so there’s another city’s we can go to stay for a good price for normal prices I mean ! 😎👍🏽

[@manupurackal5833]

My office is just next to CN tower, so is my wife’s too, still am not buying any of these, downtown is painful to drive around, too crowded and of course not worth the cost even though walking distance to office

[@FrankHuynh]

downtown life is quite busy

[@stephenn88]

Moving to Calgary

[@FrankHuynh]

solid choice!

[@zdrux]

Scotiabank Arena?.. You mean the SkyDome?!!

[@FrankHuynh]

haha!

[@CHICOandtheVAN]

insanity. I lived in park dale in toronto in the 80's. 1 bdr back then was $400 with unobstructed lake views. moved out to LA only to get priced out. Built my own home in a Ford e350 and live simply in the forest. just need enough for food and gas. y'all might want to snatch up a van while its still cheap. this way of living in the city isn't sustainable unless you're a billionaire

[@FlyingSparks12336]

Newer building is 10 years old to you? I’m just window shopping idk what I’m even looking for..

[@FrankHuynh]

Im too used to seeing older buildings in Toronto lol

[@bobbush5339]

All are fools and politicians are taking max advantage. COVID relief money is used to buy 5 to 10 condos or houses and they are all on rent now. Banks have approved mortgage on ten condos. There is no shortage of housing in Toronto.

[@Aaa-f7o5e]

Lol it’s going to be a mill if it’s a 2 bed 1 bath

[@FrankHuynh]

it can be quite easily depending where!

[@gmarks1559]

The muppet boiler room condo flipping market is dead 😂

[@eyesopen6110]

Downtown Toronto is garbage. The condos are all way overpriced and exactly the same. Horrible investments. There are no additional jobs since the 1990's. Don't bother.

[@FrankHuynh]

downtown toronto def isn't for everyone. I found it great at the time, but found it overwhelming after awhile

[@stoneneils]

Exactly the same was a huge complaint of mine. I was leasing them..i had 120 sets of keys..literallly only ONE looked uniqe because it had been built in the 80s. All 119 others were basically the same white box.

[@stephenn88]

Condo will be shit in ten years

[@FrankHuynh]

maybe!

[@redyurt5367]

Watching this video I just can say - Canada sucks.

[@stoneneils]

That's where young youtubers go wrong and end up depressed lol. Toronto is not Canada. You can drive just outside out of it and find really cheap houses. Or you can choose the other nine provinces. But today is the day YOU grow up!!! Finally you'll stop painting countries or women or races all in one brush stroke, congrtulations.