Scott Hanton, Condo Expert for Buyers & Sellers

Buying or selling a condominium in Toronto can be a complicated process. With so many variables to consider, it is essential to have a checklist of items to help ensure a smooth transaction. In this blog post, we will outline a checklist for both condo buyers and condo sellers in Toronto, highlighting the key items that need to be considered throughout the process.

Checklist for Condo Buyers

1. Determine Your Budget The first step in buying a condo in Toronto is to determine your budget. Consider your income, savings, and any additional costs associated with owning a condo, such as maintenance fees, taxes, and insurance.
2. Decide on Location Toronto is a vast city with many different neighborhoods, each with its own unique character and attractions. Consider your lifestyle and choose a neighborhood that fits your needs.
3. Research Condo Buildings Research the condo buildings in your desired neighborhood. Consider factors such as age, amenities, and maintenance fees. Make a list of buildings that meet your criteria and contact a real estate agent to help you further.
4. Work with a Real Estate Agent A real estate agent can help you navigate the condo buying process and find the perfect condo for you. Choose an agent who is experienced in the Toronto real estate market and who understands your needs and budget.
5. View Properties Once you have identified your desired buildings, schedule viewings with your real estate agent. Pay attention to the details, such as the condition of the unit, the view, and the amenities.
6. Get a Home Inspection Before making an offer on a condo, it is important to get a home inspection. This will help you identify any issues with the unit and make an informed decision.
7. Secure Financing Work with a lender to secure financing for your condo purchase. This will help you determine your budget and make an offer on a unit with confidence.
8. Make an Offer Once you have found the perfect condo, make an offer. Work with your real estate agent to determine a fair price and make an offer that reflects the market conditions.
9. Closing Process After your offer is accepted, there is a closing process that includes legal and financial steps. Work with your real estate agent to ensure all necessary paperwork is completed on time.

Checklist for Condo Sellers

1. Determine Your Selling Price The first step in selling a condo in Toronto is to determine your selling price. Work with a real estate agent to determine a fair price that reflects the market conditions and the condition of your unit.
2. Prepare Your Condo for Sale Prepare your condo for sale by cleaning, decluttering, and staging. This will help potential buyers envision themselves living in your unit.
3. Work with a Real Estate Agent Choose a real estate agent who is experienced in the Toronto market and who can help you market your condo effectively.
4. List Your Condo List your condo for sale on MLS and other real estate websites. Work with your real estate agent to create a compelling listing that highlights the best features of your unit.
5. Host Open Houses and Showings Host open houses and showings to give potential buyers the opportunity to view your unit. Work with your real estate agent to schedule appointments and provide access to your unit.
6. Negotiate Offers Once you receive an offer, negotiate the terms with the buyer. Work with your real estate agent to ensure the offer is fair and reflects the market conditions.
7. Closing Process After you accept an offer, there is a closing process that includes legal and financial steps. Work with your real estate agent to ensure all necessary paperwork is completed on time.

Buying or selling a condo in Toronto can be a complex process, but with a checklist of items to consider, it can be much simpler. 

Toronto's condo market is one of the most active and dynamic in Canada, with a wide range of properties available for sale at any given time. Condos are particularly popular in the downtown core, where they offer convenient access to shopping, entertainment, and public transit.

The volume of condo listings in Toronto tends to fluctuate throughout the year, with some seasons seeing more activity than others. Here is a general overview of how the volume of condo listings changes from season to season:

Spring: The spring season is typically a busy time for the Toronto real estate market, with many buyers and sellers entering the market after the winter lull. As a result, the volume of condo listings tends to increase during the spring months, as sellers look to take advantage of the increased demand.

Summer: The summer season is generally a quieter time for the Toronto real estate market, as many buyers and sellers take time off for vacations and travel. As a result, the volume of condo listings may decrease slightly during the summer months, although there is still a significant amount of activity in the market.

Fall: The fall season is another busy time for the Toronto real estate market, as buyers and sellers prepare for the upcoming winter months. As a result, the volume of condo listings tends to increase during the fall months, as sellers look to close deals before the end of the year.

Winter: The winter season is generally a slower time for the Toronto real estate market, as many buyers and sellers prefer to wait until the spring before entering the market. However, there is still some activity in the market during the winter months, particularly in areas with a high demand for condos.

Overall, the volume of condo listings in Toronto is influenced by a range of factors, including seasonal trends, changes in demand, and economic conditions. While there are fluctuations throughout the year, the Toronto condo market remains active and dynamic, offering a range of properties to buyers at all times. If you are interested in purchasing a condo in Toronto, it is recommended to work with a real estate agent who can provide you with up-to-date information on available listings and market conditions in your desired area.

The price per square foot is a commonly used metric for measuring the value of a condominium in Toronto. This metric takes into account the total size of the unit and divides it by the sale price, providing a measure of the unit's value per unit of space. However, there are a range of factors that can impact the price per square foot of a Toronto condominium. In this article, we will explore the factors that affect how a Toronto condominium's price per square foot is affected.

1. Location

One of the most important factors that affects the price per square foot of a Toronto condominium is location. Condominiums in desirable neighborhoods, such as downtown or in areas with good public transportation, will generally command a higher price per square foot than those in less desirable locations. An article in Toronto Storeys notes that "condos located in prime neighbourhoods like Yorkville or The Annex will typically cost more per square foot than condos located in more suburban areas."

1. Building Age and Condition

Another factor that can impact the price per square foot of a Toronto condominium is the age and condition of the building. Newer buildings with modern amenities and finishes will generally command a higher price per square foot than older buildings with outdated amenities and finishes. However, there are exceptions to this rule, as some buyers may prefer the character and charm of an older building.

1. Building Amenities

The amenities offered by a condominium building can also impact the price per square foot of a unit. Buildings with high-end amenities such as a gym, pool, or rooftop terrace will generally command a higher price per square foot than those with fewer amenities. However, it is important to note that amenities can also come with additional monthly maintenance fees.

1. Size of Unit

The size of a condominium unit is another key factor that affects the price per square foot. Larger units will generally command a higher price per square foot than smaller units, as buyers are willing to pay more for additional space. However, it is important to note that the total sale price will also increase with the size of the unit.

1. Floor Level

The floor level of a condominium unit can also impact the price per square foot. Units on higher floors will generally command a higher price per square foot than those on lower floors, as they offer better views and may be quieter. However, units on lower floors may be more desirable for those who prefer a quicker exit during emergencies or have mobility issues.

1. Views

The views offered by a condominium unit can also impact the price per square foot. Units with desirable views, such as those with a view of the waterfront or skyline, will generally command a higher price per square foot than those with less desirable views.

1. Parking and Storage

The availability of parking and storage can also impact the price per square foot of a Toronto condominium. Units with dedicated parking spaces or storage lockers will generally command a higher price per square foot than those without, as these features are highly sought after in the Toronto market.

1. Market Conditions

Finally, it is important to note that market conditions can also impact the price per square foot of a Toronto condominium. During times of high demand, prices will generally be higher, while during times of low demand, prices may be lower. It is important for buyers to stay abreast of market conditions and to be prepared to act quickly when a desirable unit becomes available.

In conclusion, there are a range of factors that affect how a Toronto condominium's price per square foot is affected. These factors include location, building age and condition, amenities offered, size of unit, floor level, views, parking and storage availability, and market conditions. Buyers should consider these factors carefully when evaluating the value of a unit and be prepared to act quickly in a competitive market.

Toronto is a bustling city that offers a wide range of housing options, including condos. For buyers with a budget of less than $800,000, there are several types of condos available in the city. In this essay, we will discuss the different types of condos for sale in Toronto for buyers on a budget.

High-Rise Condos

High-rise condos are one of the most common types of condos in Toronto. These buildings typically have more than 20 floors and offer a range of amenities, such as a fitness center, pool, and concierge service.

For buyers on a budget, high-rise condos are a great option as they offer a range of sizes and prices. In some neighborhoods, such as Etobicoke and Scarborough, it's possible to find high-rise condos for less than $500,000. These units are often smaller, but they still offer the same amenities and location benefits as larger units.

Mid-Rise Condos

Mid-rise condos are another option for buyers on a budget. These buildings typically have 5-20 floors and offer a mix of amenities, such as a fitness center or party room.

Mid-rise condos are often found in more residential neighborhoods, such as North York and East York. Prices for mid-rise condos vary depending on the location, but it's possible to find units for less than $800,000. These units may be slightly larger than high-rise condos, but they still offer a range of amenities and a convenient location.

Low-Rise Condos

Low-rise condos are another option for buyers on a budget. These buildings typically have 4 floors or less and offer a more residential feel than high-rise or mid-rise condos.

Low-rise condos are often found in more residential neighborhoods, such as the Annex or the Beaches. Prices for low-rise condos vary depending on the location, but it's possible to find units for less than $800,000. These units may be larger than high-rise or mid-rise condos, but they often have fewer amenities.

Condo Townhouses

Condo townhouses are another type of condo for buyers on a budget. These units are typically located in townhouse complexes and offer a range of amenities, such as a fitness center or pool.

Condo townhouses are often found in more residential neighborhoods, such as North York or Scarborough. Prices for condo townhouses vary depending on the location and size of the unit, but it's possible to find units for less than $800,000. These units often offer more space and a more residential feel than high-rise or mid-rise condos.

New Condos

New condos are another option for buyers on a budget. Developers often offer pre-construction prices that are lower than the final prices once the building is completed.

New condos are often located in up-and-coming neighborhoods, such as the Junction or Liberty Village. Prices for new condos vary depending on the location and size of the unit, but it's possible to find units for less than $800,000. These units often offer modern amenities and finishes, but they may not be located in established neighborhoods.

Resale Condos

Resale condos are another option for buyers on a budget. These units are typically older than new condos but offer a range of sizes and locations.

Resale condos are often located in established neighborhoods, such as the Annex or downtown Toronto. Prices for resale condos vary depending on the location and size of the unit, but it's possible to find units for less than $800,000. These units often offer more space and a more established location than new condos.

Conclusion

In conclusion, there are several types of condos available in Toronto for buyers on a budget. High-rise, mid-rise, and low-rise condos offer a range of sizes and amenities at varying price points.

Toronto's Bloor Yorkville district has long been known as one of the city's most affluent and exclusive neighbourhoods. Over the years, the district has experienced significant growth and development, particularly in the area of condominiums. In this article, we will explore the history and evolution of the condo market in Toronto's Bloor Yorkville district.

Early Developments in Bloor Yorkville

Bloor Yorkville has a rich history dating back to the 19th century when it was a rural area outside the city limits. In the early 20th century, the area began to develop as a fashionable residential neighbourhood, with grand homes and estates lining the streets.

However, it wasn't until the 1960s that Bloor Yorkville began to evolve into the vibrant commercial and cultural district it is today. The area's transformation began with the development of the Yorkville Village shopping centre, which quickly became a hub for fashion, art, and design.

The 1970s saw the development of several high-rise office buildings in the area, including the Manulife Centre and the Bay-Bloor Centre. These buildings helped to establish Bloor Yorkville as one of Toronto's most desirable business addresses.

Condominium Development in Bloor Yorkville

The first condominiums in Bloor Yorkville were developed in the late 1970s and early 1980s. These early developments were typically mid-rise buildings with simple, functional designs.

However, it wasn't until the 1990s that the condo market in Bloor Yorkville really began to take off. This was due in part to changes in Toronto's zoning regulations, which allowed for higher density residential development in certain areas of the city, including Bloor Yorkville.

The 1990s saw the development of several high-end condominium projects in the area, including the Four Seasons Residences, the Hazelton Residences, and the Museum House. These buildings were designed to appeal to the affluent and discerning buyers who were drawn to Bloor Yorkville's upscale lifestyle.

The 2000s saw a continuation of this trend, with several new high-end condo projects being developed in the area. These included the Residences of the Ritz Carlton, the Four Seasons Private Residences, and the One Bedford Condos.

The Evolution of Condo Design in Bloor Yorkville

As the demand for condominiums in Bloor Yorkville grew, so too did the sophistication of condo design in the area. Early condo developments in the 1970s and 1980s were typically designed with functional layouts and simple, utilitarian finishes.

However, as the condo market in Bloor Yorkville matured, developers began to focus more on luxury and design. The high-end condo developments of the 1990s and 2000s featured more elaborate designs, with high-quality finishes and materials.

In recent years, there has been a growing focus on sustainable and environmentally friendly design in Bloor Yorkville's condo market. Many new developments are incorporating green roofs, energy-efficient systems, and other environmentally friendly features.

The Future of Condo Development in Bloor Yorkville

Bloor Yorkville's condo market shows no signs of slowing down. With demand for high-end residential properties in the area remaining strong, developers continue to propose new projects in the district.

In recent years, there has been a growing focus on mixed-use developments in Bloor Yorkville. These projects typically combine residential, commercial, and retail spaces in a single building, creating a vibrant and dynamic urban environment.

One example of this trend is the One Bloor development, a mixed-use project that includes luxury condos, retail space, and a public plaza. The project has become one of the most highly anticipated developments in Toronto's Bloor Yorkville district.

Purchasing a suite in a TORONTO condominium can be an exciting step in achieving homeownership. However, it is essential to be informed about the process and understand the pros and cons of condo living before committing to a purchase. In this article, we will discuss the top ten things first-time buyers need to know about buying a suite in a condominium.

Condo fees

Toronto condominiums have common areas and amenities that are shared by all residents, and the maintenance and repair costs of these areas are covered by the condo fees. Before purchasing a suite, it is crucial to know the monthly condo fees and what they cover. Some fees include utilities such as water, electricity, and heat, while others only cover maintenance and repair costs.

Reserve fund

A reserve fund is an amount of money set aside by the condo corporation to cover unexpected expenses or major repairs in the future. It is essential to know the status of the reserve fund and whether it is adequately funded to cover future repairs or upgrades.

Toronto Condo rules and regulations

Every Toronto condominium has its own set of rules and regulations that govern the behaviour of the residents. Before purchasing a suite, it is essential to review and understand these rules and regulations, as they can impact your lifestyle and activities.

Condo board

The condo board is responsible for managing the affairs of the condominium corporation. It is essential to know who is on the condo board, their responsibilities, and their experience in managing a condominium.

Insurance

Toronto Condominium corporations have insurance policies that cover the common areas and building structure. However, it is important to have personal insurance for your suite's contents and liability in case of accidents or damages.

Amenities

Toronto Condominiums offer various amenities such as a fitness centre, swimming pool, party room, and concierge services. Before purchasing a suite, it is essential to know what amenities are available, their hours of operation, and any additional fees that may apply.

Parking and storage

Parking and storage options can vary in condominiums, and it is essential to know what is included in your suite's purchase price. Some buildings offer underground parking and storage lockers, while others may only provide street parking or no storage options.

Building maintenance

The building's maintenance and upkeep are critical factors to consider before purchasing a suite. It is essential to know the building's age, its maintenance history, and any upcoming repair or renovation projects that may affect your daily life.

Location

Location is a critical factor to consider when purchasing a Toronto condo. It is important to consider the proximity to essential amenities such as grocery stores, schools, hospitals, and public transportation.

Resale value

The resale value of a condominium is essential to consider, as it can impact your investment and ability to sell your suite in the future. Factors that can impact the resale value include location, building age and condition, and the availability of amenities.

In conclusion, purchasing a suite in a Toronto condominium is an important decision that requires careful consideration and research. First-time buyers in Toronto must understand the monthly condo fees, reserve fund, rules and regulations, condo board, insurance, amenities, parking and storage options, building maintenance, location, and resale value. By being informed and understanding these critical factors, first-time buyers can make an informed decision and enjoy their condo living experience.

LATEST 1 BEDROOM SELLING PRICES FOR CONDOS IN TORONTO:

40 Homewood Ave $469,000.00 

8 Wellesley St E $499,000.00 

200 Sackville St $499,000.00 

40 Homewood Ave $509,900.00 

32 Trolley Cres $510,000.00 

460 Adelaide St E $525,000.00 

40 Homewood Ave $529,000.00 

2A Church St $539,000.00 

158 Front St E $549,990.00 

21 Lawren Harris Sq $557,000.00 

222 The Esplanade $569,000.00 

230 King St E $575,000.00 

8 Wellesley St E $579,000.00 

60 Colborne St $599,900.00 

120 Homewood Ave $599,900.00 

20 Tubman Ave $599,980.00 

51 Trolley Cres $599,999.00 

251 Jarvis St $608,880.00 

117 Dundas St E $609,000.00 

105 George St $609,900.00 

135 Maitland St $619,000.00 

20 Tubman Ave $620,000.00 

15 Maitland Pl $625,000.00 

28 Ted Rogers Way $639,000.00 

34 Tubman Ave $649,000.00 7

7 Mutual St $679,000.00 

15 Merchants' Wharf $680,888.00 

170 Sumach St $688,800.00 

15 Merchants' Wharf $689,900.00 

121 Lower Sherbourne St $690,000.00 

25 Carlton St $699,000.00 

3 Gloucester St $707,900.00 

3 Gloucester St $709,900.00 

3 Gloucester St $713,900.00 

25 The Esplanade $714,900.00 

16 Bonnycastle St $818,000.00 

8 The Esplanade Ave $819,900.00 

35 Church St $895,000.00

TORONTO CONDOS FOR SALE:

1. 150 Sudbury St, Unit 1601, Toronto - $499,000.00
2. 629 King St W, Unit 426, Toronto - $499,000.00
3. 381 Front St W, Unit 1609, Toronto - $598,900.00
4. 68 Abell St, Unit 828, Toronto - $635,000.00
5. 101 Peter St, Unit 3701, Toronto - $649,000.00
6. 456 College St, Unit 703, Toronto - $649,900.00
7. 15 Stafford St, Unit 509, Toronto - $674,000.00
8. 25 Telegram Mews, Unit 4303, Toronto - $676,000.00
9. 357 King St W, Unit 3504, Toronto - $688,000.00
10. 88 Cumberland St, Unit 406, Toronto - $699,999.00
11. 5 Hanna Ave, Unit 501, Toronto - $714,500.00
12. 15 Brunel Crt, Unit 605, Toronto - $719,900.00
13. 181 Bedford Rd, Unit 2306, Toronto - $739,900.00
14. 10 York St, Unit 4702, Toronto - $748,000.00
15. 19 Bathurst St, Unit 4108, Toronto - $769,000.00
16. 8 Telegram Mews, Unit 317, Toronto - $775,000.00
17. 426 University Ave, Unit 2601, Toronto - $788,000.00
18. 68 Abell St, Unit 740, Toronto - $815,000.00
19. 210 Simcoe St, Unit 1410, Toronto - $819,000.00
20. 508 Wellington St W, Unit 502, Toronto - $839,900.00
21. 361 Front St W, Unit 2708, Toronto - $849,999.00
22. 38 Iannuzzi St, Unit 2206, Toronto - $869,000.00
23. 250 Wellington St W, Unit 1440, Toronto - $875,000.00
24. 20 John St, Unit 224, Toronto - $889,000.00
25. 19 Western Battery Rd, Unit 907, Toronto - $899,000.00
26. 2 Edith Dr, Unit 510, Toronto - $899,900.00
27. 21 Balmuto St, Unit 2002, Toronto - $969,000.00
28. 260 Heath St W, Unit 1102, Toronto - $1,089,000.00
29. 357 King St W, Unit 3408, Toronto - $1,099,000.00
30. 188 Cumberland St, Unit 2204, Toronto - $1,178,000.00
31. 280 Simcoe St, Unit Ph9, Toronto - $1,298,000.00
32. 50 Bruyeres Mews, Unit Th05, Toronto - $1,299,000.00
33. 65 St Mary St, Unit 4105, Toronto - $1,525,000.00
34. 23 Spadina Ave, Unit 6202, Toronto - $1,929,900.00
35. 23 Spadina Ave, Unit 6203, Toronto - $2,649,900.00

Bloor Street is one of the most iconic streets in Toronto, known for its luxury shopping, upscale restaurants, and vibrant culture. It is also home to some of the most sought-after condominiums in the city. Here is a brief history of condominiums located on Toronto's Bloor Street.

Early Developments

The first condominiums in Toronto were built in the late 1960s and early 1970s. The earliest developments were located in downtown Toronto, with buildings such as the St. James Condominiums and the Waldorf Astoria Condominiums.

In the 1970s, the trend of building condominiums spread to other parts of the city, including Bloor Street. The first condominiums on Bloor Street were built in the early 1970s and were located near the intersection of Bloor Street and Avenue Road.

One of the first condominium buildings on Bloor Street was the Colonnade, built in 1972. The building featured 96 units and was located at 131 Bloor Street West. The Colonnade was one of the first luxury condominium buildings in the city and set the standard for future developments.

Another early condominium building on Bloor Street was the Bloor Walk Condominiums, built in 1975. The building featured 62 units and was located at 100 Hayden Street. The Bloor Walk Condominiums were one of the first high-rise condominiums in the city and set the standard for future developments.

The 1980s and 1990s

In the 1980s and 1990s, the trend of building condominiums on Bloor Street continued to grow. Many of the buildings built during this time were designed by renowned architects and featured modern and innovative designs.

One notable condominium building built during this time was the Museum House, designed by architect Yann Weymouth. The building was completed in 1998 and featured 26 units. The Museum House was known for its modern and innovative design and set the standard for future developments on Bloor Street.

Another notable condominium building built during this time was the One Bloor Condominiums, completed in 1983. The building was designed by architect Clifford and Lawrie and featured 150 units. The One Bloor Condominiums were known for their modern and innovative design and set the standard for future developments in the area.

The 2000s and 2010s

In the 2000s and 2010s, the trend of building condominiums on Bloor Street continued to grow. Many of the buildings built during this time featured luxurious amenities and high-end finishes, catering to the needs of affluent buyers.

One notable condominium building built during this time was the Four Seasons Private Residences, completed in 2012. The building was designed by architect Peter Clewes and featured 55 units. The Four Seasons Private Residences were known for their luxurious amenities, including a private pool and spa, and set the standard for future developments in the area.

Another notable condominium building built during this time was the Exhibit Residences, completed in 2017. The building was designed by architect Rosario Varacalli and featured 200 units. The Exhibit Residences were known for their unique and innovative design and set the standard for future developments on Bloor Street.

The Future of Condominiums on Bloor Street

The future of condominiums on Bloor Street looks bright, with several new developments in the works. Many of the new developments will feature luxurious amenities, high-end finishes, and innovative designs, catering to the needs of affluent buyers.