Archives for May 2018

Toronto Downtown East is one of the most undervalued area's in all of the city, maybe in all of the province.   This is prime space that isn't nearly as developed as the west side. There are projects that still exist in the area, homeless shelters and the methadone clinics. These are just some of the reasons that the area hasn't developed. Several projects are scheduled to be torn down, therefore, it's only a matter of time before the shelters are moved as well. There are multiple land assemblies going on for future development that will improve the neighborhood. One of them being the relief line, which will cut right through the southern portion of Downtown

I have many clients that ask me the benefit of buying resale vs. pre construction and vice versa. I have never been a huge supporter of pre construction as a whole, but there are some projects that make sense. There was a time when pre construction was a no brainer. It was cheaper with significantly higher appreciation, this is no longer the case. I will do a quick break down. Price Pre construction has a higher price than resale within the same neighborhood, typically 100 to 200$ per square foot, however I have seen even higher. Closing costs Can be 4 to 5x higher (depending on the project) for Pre Construction vs. Resale. Down payment If you're buying your primary