Toronto Real Estate Podcast with Michael Duggal Michael Duggal

How good of an investment are condos in the greater Toronto area? It depends on the area and the condo itself, among a few other major factors. If you're thinking about selling in the near future, you want to see whether the condo is appreciating in value. Contact your agent and find out if values in the area have increased during the last three to five years. The buildings behind me in the video above, for example, are great condos that have gone up in value over the last couple years. Another thing to account for, if you're using the condo as an investment property, is how easily you can rent it, and how much it will rent for. You also want to clearly verify all the numbers, like maintenance fees and taxes. If you're looking in an area with good schools, good jobs, and good transportation, chances are it will be quite easy for you to find a tenant who will stay long-term. “ If the building has been appreciating, and the rental income covers your payments, condos are a great investment! ” Make sure you're aware of the area and whether there is construction nearby. Buildings going up nearby can affect the value of your property in the near future. Newer buildings could obstruct your view, for example, and decrease the value. If you're curious about condos or any type of real estate in the greater Toronto area, give me a call for a free real estate consultation. I'd love to sit down and talk with you!

Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale Today I have a Toronto real estate market update for you. A lot of people want to know how the market is performing as we are heading into the busy buying and selling season this spring and summer. So, what have we seen and what can you expect? Interest rates are right around 2.5%, so these are phenomenal rates and that’s why we have so many buyers out actively looking for homes to purchase. Buyers have an opportunity to save thousands and thousands of dollars in interest payments over the lifetime of their loans. A lot of the buyers we’re seeing right now are very serious, too. They wouldn’t come out and look at homes in the cold for nothing! On the flip side, sellers have a great opportunity because inventory is so low right now. Homes are selling quickly and they often have multiple offers on them. Your home will have very little competition, so you have a great chance to sell quickly and for top dollar. Our days on market was only 18 days in February, and just yesterday we sold two listings. The catch here is that you need to list your home ASAP before other sellers get their homes on the market. At this point you’ll have more competition and you won’t sell as quick or for as much money as you currently can. If you need assistance with anything real-estate related, please contact us!