If you were thinking of purchasing a condo unit in the near future as an investment, and downtown was your preferred location, where would you consider? Charlie West seems as if I've missed the boat. Wait for Sixo to start selling?
A condo for strictly investment purposes, or a condo to live in?
Is it confirmed that Charlie West is now sold out, or have they perhaps not yet released all units for sale? A complete sell-out in such a short time would be extraordinary, although terrific news for anyone wanting to see the tower built sooner rather than later.
(10-13-2017, 12:14 PM)panamaniac Wrote: [ -> ]A condo for strictly investment purposes, or a condo to live in?
Is it confirmed that Charlie West is now sold out, or have they perhaps not yet released all units for sale? A complete sell-out in such a short time would be extraordinary, although terrific news for anyone wanting to see the tower built sooner rather than later.
Oops. As an investment.
That was my line of thinking with regards to Charlie West. Another wave? Or has momentum gotten so big that it went that fast.
I was looking at Barra ... it's a little bit outside the downtown but still close to LRT, and a block away from Victoria Park and the IHT. More intensification will follow on Queen St S too.
I hadn't thought of that one. Did you find that prices were a bit better being a bit outside the "core" and less "sexy" than the other ones we'd think of first?
Ahhhh ... not far enough to have analyzed the prices yet, but I can take a look tonight. What's the price per square foot at Charlie West like?
(10-13-2017, 12:47 PM)tomh009 Wrote: [ -> ]Ahhhh ... not far enough to have analyzed the prices yet, but I can take a look tonight. What's the price per square foot at Charlie West like?
$377-$415 based on quick math
OK, here is some comparative data. Normaliized to same number of parking spaces (* means not included) and balcony is included in the total square footage.
~800 sq ft 1BR*: $305,000 Barra, $299,000 Charlie
~1100 sq ft 2BR: $425,000 Barra, $458,000 Charlie
~1200 sq ft 2BR+D: $475,000 Charlie
~1303 sq ft 2BR+D: $450,000 Barra (1020 sq ft + 283 sq ft terrace)
So actually it's not a huge price difference in favour of Barra. Mea culpa.
One interesting thing Barra does for investors is guarantee a minimum rent. For example, for the $305K 1BR unit they guarantee a minimum rent of $1624 as long as you offer it for rent through their property management firm.
But do they guarantee that it WILL rent, or just that's what you'll get when it does? I've always wondered that as a lot of the student properties in Northdale offer similar guarantees.
No, not guaranteed to rent. So you list with their agency, and the agency may discount the rent to get them occupied, but as long as you do find a tenant, they will make up the difference.