1 of 3
2 of 3
3 of 3
While the new condo market gets all the real estate buzz, resale units are also worth a look, especially if you're hunting for value and space (older buildings often come out on top when it comes to cost per square foot). Digital community manager Renee Sylvestre-Williams was living with a roommate in a rental in 2010 when she realized she was in good financial shape and took the condo plunge on her Yonge and Eglinton unit.
Initially, she felt the urge to upgrade everything for a short-term flip, but now that she's settled into the space and realized she'd rather not take on the upkeep of a house, Sylvestre-Williams is focusing on finding some new appliances and a few more manageable, personalized tweaks.
"It will take me longer to change things, but I'll do it for me," she says.
Original budget: "I got pre-approved for $250,000, but the thought of owing that much made me sick."
Unit price: $221,000.
Wish list: Close to the subway, a dishwasher, en suite laundry and on-budget.
Number of properties checked out: About a dozen.
What she got: A 650-square-foot ninth-floor one-bedroom/one-bathroom unit in a building with a gym, pool, library and 24-hour security.
What she says about her booming neighbourhood: "Yonge and Eglinton is expanding. All the Queen West stores like the Ten Spot, Barreworks, Kind Exchange and the Drake General Store are here or plan to open soon. I would like more restaurants that offer more choice. And a decent patio. And a better grocery store."