Do you think that this is a good time to buy a condo in downtown toronto? My budget is $350,000 for 2 + 2. It's just for me and my wife. Any advice will be appreciated.
Would you suggest a condo in midtown or downtown?
In my books, if you work in DOWN TOWN and can walk to work in fifteen minutes, then buy a place in DOWNTOWN.
If you have to commute forty minutes and walk another ten, then go and buy a place that you always wanted. The biggest place that you can get. The More bang for the buck. Now do tell me a distance in radius in kms from down town area to call it mid town. Remember that the GTA is extending on and on and the Vaughn subway line will take it even further in times to come.
Now, if you have a steady job or jobs for you both and have the necessary down payment and a pre approved Mortgage and with the current interest rates under 4% you can certainly GO for it.
Now what is this 2+2, are you expecting twins? or expecting two more people to reside in the house or are you looking for two BR's with two baths? I understand the current me and my wife for the starters!
This job situation is not going to improve for the next 18-24 months. So, do some math and see the costs of living in a new place and the current costs. If it is more than double, then drop it. Living in an apartment is always economical.
Good Luck.
Freddie.
thanks for your reply. do you think there is much upside left in downtown properties?
Quote:
Originally posted by Gagan74
thanks for your reply. do you think there is much upside left in downtown properties?
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