quote:

Originally posted by StereoPrincess don't you know that we are the magic 8 ball for this guy. any decision he makes has to come through TOTA. he couldn't even find his car without this board.

so he did find his car??

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quote:

Originally posted by Skipper You can't buy a house for $190K on the lakeshore. Condos are perfect starter investments for people who want to stop paying rent but can't yet afford a house.

agreed!

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go with a house. if the condo building burns down or a plane flies into it then you have nothing left, but if you have a house and the same thing happens at least you still have the land to do with as you please.

I hope you're not serious. Condos go up in value just like houses. And the building is NOT going to burn down, collapse or be taken over by a band of sexually deprived Shaolin monks. And if it were, the insurance would cover it anyway

quote:

Originally posted by malek why would anyone buy a one bed room condo?!?!

"Baby, i'd LOVE for you to come live with me, but you see... i've only got this ONE room!" That's why.

quote:

Originally posted by ShadoWolf so he did find his car??

No, but someone from this board did. I kid you not

Me, I don't know why anybody would buy anything at all.

Why not just become one of those squatter protester. Not only would you get to live right downtown - but you'd also get to live for free and have lots of other cool protesters living in the same house to keep you company.

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Last edited by rabbitjoker on Jul-14-2004 at 18:33

IMHO, condo is a waste of money.

With a house you have a backyard, which to me is just as important as the size of the house.

quote:

Originally posted by Durafei IMHO, condo is a waste of money. With a house you have a backyard, which to me is just as important as the size of the house.

well said.

you can look up the prices at

www.mls.ca

condos arent really an investment and if ur gonna drop 200 - 300 thou for a couple of square feet u might as well invest in comic books....



remmeber just because prices are high today dopnt mean they will be tommorrow..give the building 10 years and watch how low they become..buying condos now or ever is a waste of money. its only good if u work downtown and u justy came to canada and dont know better

quote:

Originally posted by malek why would anyone buy a one bed room condo?!?!

Actually, I'm in that position. As far as why people want to buy a condo, there's many reasons. I can't speak for everyone but as for me the reasons are as follows.

Of course ideally everyone would want a nice house but not everyone in their 20's can actually afford a new home if say you're living alone (unless you have a fiancee or someone to help you share the cost of the mortgage)

I never really liked the idea of renting and I don't have any problems living at home for a bit in order to save up enough money to buy myself a condo (I do pay rent at home to help out my folks).

For a one bedroom in toronto you're looking at upwards of 170K+. I've been looking into the condo market lately because I will have enough saved up in about a year or two to actually buy myself one. The idea of purchasing a condo and living mortgage free is very appealing to me. Being a single guy, condos are perfect. I don't really need a house "yet" since I'm living alone and don't really need all the extra space.
I see myself as living in the condo for a few years and then later purchasing a house afterwards when I'm married or have kids . It's a natural progression. I'm not too concerned about my condo as an investment, right now the main thing for me is affordability and convenience.

I've actually contemplating the idea of buying a house sooner, because I can make a very sizeable down payment now or just wait a bit and have enough saved up to buy a condo.

I've thought about the downside of buying a condo. It's much harder to sell later on, and I really don't like the idea of having to pay high maintenance fees for stuff like the gyms and security etc..etc..

I still haven't totally made up my mind, but the idea of purchasing a condo is very appealing to me right now. Of course this could all change in a moment's notice depending on your situation (ie, gf getting pregnant and need more space, etc).

Ideally I would want one with a lakeview but buying a condo near downtown with a great view can get quite pricey.

quote:

Originally posted by Plavka you can look up the prices at www.mls.ca

the most informative post in this thread...congratulations!

if you need an agent...I know a TA lurker who can help ya...if you need a mortgage or a secured line of credit...let me know

For downtown Toronto, a condo is clearly the more affordable choice for someone starting out. While some people want the space, privacy, and land that a house offers, some enjoy not having to worry about maintenance and upkeep with a condo. To say a house is any "better" or "worse" than a condo is just silly...it depends on what you want. Personally, for about the same price, I'll take an 800-1000 sq. ft. loft in downtown Toronto over a starter house in the burbs any day.

Although perhaps a better investment in the long run (watch condo prices plateau or even drop as the glut begins), any decent house is going to run *at least* 250k...more likely 300k and up for something in a nice area that doesn't require any work. A *wee* little bungalow on my street in Cabbagetown sold 6 months ago for ~325k...and clearly needed some TLC...yikes!

quote:

Originally posted by StereoPrincess don't you know that we are the magic 8 ball for this guy. any decision he makes has to come through TOTA. he couldn't even find his car without this board.

Too true!


- while I don't mind staying in a condo/apartment for a while I could never live in one for more than year. I personally need a house of my own, my own space and no one complaining that my 1000 watt sub is shaking their dining room table ... Also multi car garages are a must.

One of the few things that I really can't stand about apartments condos when it comes to visiting friends is parking. It's always a drive in from the suburbs to the city for me and when I get there I don't want to have to trek around for parking. That might be on the top 5 reasons to buy a house. PARKING... I need something more interesting to get fixated on, someone help lol.

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Originally posted by d!abolic How much would a one-bedroom condo with view of the lake run? It seems like quite a few of them are being built right now alongside the Gardiner. And does anyone know which builders are selling those? P.S. Are they still planning to expand the Gardiner, or take it underground? It's absolutely unusable from 4 to 6, and i can't even imagine how bad it'll get once all those new buildings are up!

Why am i not surprised that when i read the subject line, i knew it was one of your posts.

Try www.mls.ca or start off using a google search. This forums should start charging you consultation fees.

These are just off memory too.

- where / which brand of condoms
- 24 hour drug store
- which brand of contact lenses
- Car find (EDIT: WOW TOTA FOUND YOUR CAR. CONGRATS)
- Gas mileage
- Where / which pants to buy (khakis i think)
- Condo with lake view.

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