[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 557 KB, 812x457, FamilyHomePurchase.png [View same] [iqdb] [saucenao] [google]
10185664 No.10185664 [Reply] [Original]

Hi there, I'm trying to buy my first property in Toronto.

I make approx. 140k per year, and I'm looking at either two pre-construction buildings in the downtown core or a townhouse in one of the surrounding regions.

I can afford a property up to 700,000.

The two preconstruction buildings I'm looking at are "Empire Maverick" and "Sugar Wharf". There are a couple in the surrounding regions, but

The Maverick has a "Joker" unit, 460 sqft, no balcony, for 590,000. 0.82/sqft maintenance.

Sugar Wharf has a "Tidal" unit, 460 sqft + 110 sqft balcony, for 610,000. 0.65/sqft maintenance. Alternative is a 650sqft+110sqft north facing unit for 700,000. Requires 15% deposit in one year. Assignment is available after 75% of the building has been sold out.

Maverick is in the entertainment district of Toronto, Sugar Wharf is along the harbour (water view) and located very close to the new upcoming Google site. Requires 25% deposit within 2 years. Assignment is really tricky with this one.

Both are slated for completion in 2022.

Which choice would you guys recommend? Townhouses in vaughan, aurora, etc can be had for pretty cheap now. Commute is a pain though (45min).

Or is it just a terrible time to buy anything here in general?

>> No.10185691

>>10185664
Go to london
Buy a house there

>> No.10185701
File: 29 KB, 451x541, lefinancial.jpg [View same] [iqdb] [saucenao] [google]
10185701

>>10185664
Theres some faggy brothers i see on TV that rehab and sell property up there in Canada...look them up. I'm sure theyre on CBC or something like that.

>> No.10186341

Why do you want to buy at ATH?

>> No.10186383

>>10185664
>I can afford a property up to 700,000
No, no you can't. Your budget is 3x your income, 420k. Anything more is foolhardy

>> No.10186400

460 sq ft? Are you fucking retarded citycuck?

>> No.10186402

Buy north of Toronto, up 404 or the other northbound major highway. So Cookstown/Alliston/Tecumseh or Innisfil or Stouffville.

Thank me later

>> No.10186488

>>10186402
why?

>> No.10186748

>>10185664
>Watching real estate shows from mid 2000s on Netflix
> 2 br 700 sq ft condo in downtown Toronto goes for 400k
>Same condo is probably going for close to 1 million today

No real advice op, but I think Toronto's economy is so robust that whatever you buy will be a good investment

>> No.10186790

>>10185664

terrible idea. housing is going to get fucked really soon. you're better off renting and investing your money in things that are likely to give you better returns.

>> No.10186969

I bought a house in eden bridge area near royal York station after I became a multimillionaire during the December bull run. I love close to where rob Ford used to live before he died. I was holding 1 mill of both xvg and Trx.

>> No.10187004

Is your skin white? If so, go ahead and buy.