A location in a vibrant neighbourhood with good transit trumps condo perks any time.
Should a young first-time condo buyer prioritize building extras or neighbourhood amenities? Real estate agent Julie Kinnear (juliekinnear.com) weighs in.
Location, location, location! I know it sounds clichéd, but a young condo buyer needs to focus on neighbourhood amenities.
They're a huge draw, starting with access to a condo buyer's work. We just sold a condo at 140 Simcoe that had multiple offers. Many of the prospective buyers worked in health, and the building is within walking distance of many major Toronto hospitals. Queens Quay and all those new CityPlace condos attract buyers who commute a lot via the Island Airport. Next on the list is access to shopping, restaurants, theatres, etc.
If young people want amenities like a yoga studio or spinning class, they usually prefer the gym or studio they always go to, so that expense is unnecessary in the actual building.
Plus, fewer amenities means lower maintenance fees, which help with affordability and are good for resale.
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