"Toronto's Financial District from the CN Tower" by jiuguangw is licensed under CC BY-SA 2.0
Financial District Condos are Close to Everything
Toronto’s financial district may be attributed as the center of activity in downtown, along with the adjacent entertainment district that comes alive especially at nighttime. If your definition of living is ‘work, play, culture’, then the pre-build condos in the financial district is the perfect place for you. In addition, the area is close to the city’s waterfront and major sports facilities. When we combine all these good points, there’s no doubt that buying pre-build condos in this location is the perfect investment as it guarantees a strong rental market and increasing property values.
The Financial District is located at Peter and Adelaide Streets, just a few steps away from Rogers Centre and the best nightclubs and theatres in the city. The district is also near to major employers, hospital, research centres and big universities like Ryerson University and U of T. The project’s units consist of bachelors to two bedroom plus dens you can choose from – all appealing to both live-in buyers and investors.
One condominium underway in the area boasts a 100/100 Walk and Transit score. With the population mostly consisting of young professionals, the amenities in the area includes a fully equipped gym, swimming pool, reflecting pool, co-working lounge, relaxing lounge as well as premium retail at the podium level.
Investment in the Toronto Market
If you have a short or long term goal of renting a condo unit, then getting a condo in a prime location is the best guarantee that it won’t go vacant. Even though getting one in the city core might mean a higher price per square foot compared to the suburbs, the return on rents can be just as high as well. With the management of the building including security and caretaking governed by the Board of Directors, never has it been easier for a landlord to own and rent a condo unit.
If you’d consider reselling your condo in the near future, then you can also expect to get a high resale potential in the financial or other downtown districts. The Toronto Real Estate Board keeps a close watch on the monthly market on sale prices, and your realtor can give you the history of sale prices in the area.
Probably the biggest disadvantage of buying a prebuild condo in downtown is the Land Transfer Tax, which is generally higher compared to the suburbs in GTA. TREB also maintains a very useful Land Transfer Tax calculator.
Where a Good Real Estate Agent Comes In...
Buying a prebuild condo can be highly-stressful and complicated. From difficult terminologies to tons of documentation, it can be very easy to get lost along the way. That is why is it highly necessary to get a realtor who can guide you all throughout the process.
Of course, having a “favourite” realtor has its advantages in terms of comfort and familiarity. However, a realtor well-versed in the suburban and cottage country residences won’t be the best candidate to help you purchase prebuild condo. Buying prebuild demands a different set of skills, knowledge of the area, and its history of condo sales. When you search for the best realtor for you, ask for references, paper qualifications and go with your “gut” instinct on who truly listens to your needs and understands your investing goals.
Contact Sushma Khinvasara today to discuss all of the benefits of purchasing a Financial District condo as a living space or as an investment property. Discover everything this exciting area has to offer and find the unit that is perfect for your specific needs.