CONDO’S DROPPING ?!
Every week there’s new headlines in the blog and news about the real estate market in Toronto. Well here’s some good news, if you’re in the search for somewhere to buy in Toronto, condo’s may be your best bet!
Over the past couple months, the average price of condo’s in Toronto has fallen by 11.3% . According to strata.ca , the average price per square foot for condo’s was $947 and presently is sitting at $840 per square foot.
What might this drop mean, it’s becoming way more affordable to buy and a tone of options are becoming available on the market. With the price of condo’s dropping slightly, this is your opportunity to be able to choose buying or renting. The renting market has been increasing which serves for a better option to invest in a beautiful condo in Toronto over renting/leasing.
Here are some advantages of purchasing a condo
- Perfect for downsizing: If you’re looking to downsize, this is the perfect way to have a smaller space.
- More affordable than single-family houses: as we just mentioned, the price per square foot of condo’s have dropped!
- Cheaper insurance
- Amenities: Yes, they’re included in your maintenance fess but most condo’s have some of the best amenities for you to enjoy right downstairs!
- Good security: we all know when we have a family, security is so important.
If you’re interested in downsizing for a more affordable price or just like a more intimate place to live, call me and we can look for your next potential home !