The best way in insure your condominium purchase is to buy the finest location possible. Look for condominiums in established neighbourhoods located along the subway line. Areas such as North Toronto, Lawrence Park, Yonge and Eglinton and Davisville Village are good bets for realizing the maximum return on your investment. Remember, walking to the subway trumps walking to the bus!

Once you have found the building, then try and find the right unit in the building. Remember the lesson of progression vs. regression. Which exposures sell the best? What floor plans are the most popular? What are the recent sales in the building and what did they sell for on a per-square-foot basis?

Condominium apartments of 1000 square feet and up hold their value better than units of less than 1000 square feet.

Try to find a condominium where the units are of uniform size and value. Owners who have similar financial stakes in their homes are more likely to agree on the amount and extent of common element improvements over time. Do not discount, however, the benefit of buying a modest unit in a luxury project as such a purchase may be following the Rule of Progression. Remember that the salaries paid to the personnel who man a 24-hour security desk represent the largest annual expenditure for most condominium projects. This means that buildings with few units have higher fees than buildings with many units. Consider also how many features you need or want in a building. The more common elements there are to maintain, the higher the maintenance fees.

A trusted real estate professional can help you sort through your options and make your condominium purchase a wise investment.

Best wishes,

Peter

(416) 925-9191

www.peterrussellrealestate.com