Buying a condo - Advice needed

[stugotsms]

Well I'm going to make an offer on a new condo (1 year old) on Yonge near shepard ave in North York. It's pretty pricey at about $265.00 per square foot. Does anyone have any advice on if this is a fair price. The unit is 950sf with a locker and a parking spot. Close to the subway. Do you think the price - value will drop next year???? Are they expecting the market to crash this year or next? Am I paying to much?? Any help would be great.

Thanks

 

[smush]

Well I'm going to make an offer on a new condo (1 year old) on Yonge near shepard ave in North York. It's pretty pricey at about $265.00 per square foot. Does anyone have any advice on if this is a fair price. The unit is 950sf with a locker and a parking spot. Close to the subway. Do you think the price - value will drop next year???? Are they expecting the market to crash this year or next? Am I paying to much?? Any help would be great.

Thanks

find out what the monthly maintenance fee is. mine has gone from 930 a month to 1300 in 2 years. a scam

 

[stugotsms]

Gawd, how big is your place. Mine will be $440 per month.

 

[stugotsms]

Well it has an indoor pool, party room, guest suites, etc etc.

 

[great bear]

It's not how big it is, its where its located and what services come with it.

Shit Sheik youve been telling us for years that size counts now your changing your story??

 

[Berlin]

find out what the monthly maintenance fee is. mine has gone from 930 a month to 1300 in 2 years. a scam

Downtown ?

 

[smush]

Gawd, how big is your place. Mine will be $440 per month.

3100 sq ft. and sheik is right. i pay for location(removed by mod) and i pay for bullshiut amenities. but the price hike was for what the condo board termed needed repairs over the next few years.

 

[smush]

Downtown ?

yes. see above post

 

[great bear]

3100 sq ft. and sheik is right. i pay for location(prince arthur+avenue) and i pay for bullshiut amenities. but the price hike was for what the condo board termed needed repairs over the next few years.

You have enough space to run an in-call service out of.

 

[stugotsms]

Holy crap!! that's a big place.

 

[smush]

You have enough space to run an in-call service out of.

lol. then they would probably ask for even more of a monthly from me. but i like my space. i downgraded from a house that was even bigger. i just didnt need all the space like i thought i would. i never made it to the basement unless i was having a cigar. but i do miss my backyard. a balcony jusat is'nt the same

 

[smush]

Holy crap!! that's a big place.

i think the smallest in this building is 1800 sq ft.

 

[freakshow]

Lots of reading have fun.............


http://www.mls.ca/StaticPage.aspx?f=Buying

http://www.cmhc.ca/en/bureho/buho/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=54585

 

[mmouse]

Well I'm going to make an offer on a new condo (1 year old) on Yonge near shepard ave in North York. It's pretty pricey at about $265.00 per square foot. Does anyone have any advice on if this is a fair price. The unit is 950sf with a locker and a parking spot. Close to the subway. Do you think the price - value will drop next year???? Are they expecting the market to crash this year or next? Am I paying to much?? Any help would be great.

Thanks

So the price is $250k? Is a 1 bed + den + 1 bath? That sounds ok for Yonge & Sheppard.

 

[jetfuel]

I personally would wait, there are signs that the economy is slowing down. But you obviously want to make the move now, I have been hearing rumblings about a real estate bubble crash next year.

A 1000 a month in maintenance fees!!! Where do you live Palace Pier...

 

[KBear]

The agent will be able to tell you what the selling prices have been for properties like the one you are thinking of buying. Then you can offer the appropriate amount, less some dollars to leave room for negotiations.

Using the dollars per square foot comparison only works when comparing units of the same size in the same building/area. Generally, when the unit has a smaller square footage, the dollars per square foot goes up.

You can do the offer conditional you review of the condominiums status certificate and condominium documents. Your lawyer can help with interpreting the documents.

Maintenance fees within a building are generally based on the square footage of the unit, like was said, around 0.42 $/SqFt.

 

[rama putri]

$265/sqft is about OK for North York. My pad in downtown is much more, but as Shiek said it's about location and amenities. I'm on the top floor with a nice view of the city.

 

[smush]

i am downtown and mine worked out to be just under $400 a sq foot.

 

[jaycam]

If you are moving to the area i think you are i think you should read through this board

http://www.avondalecommunity.com/

Avoid the Menkes Spectrum building

 

[stugotsms]

Well I made my offer which was 5% lower than the asking price. I got no sign back. What's wrong with people. 1st they tell me the vendor is motivated to sell, 30 day closing, then the guys has 24 hours to decide and does not sign back. What the F**K!!!!!!!!!!!!!!!!!!!!!

If I get a sign back today, I'm going to lower my offer by 10Gs just to piss him off and for spite. People put up a for sale sign then don't want to sell. Fine, you keep your place which has been on the market for over 50 days, and I'll keep my cash.

Stugots!!