BUYING A CONDO FOR INVESTMENT
BUYING A CONDO FOR INVESTMENT Are you thinking about buying a condo for investment? With 60,000 condo units currently under construction in the Greater Toronto Area and another 20,000 due to be constructed between now and 2021 – it appears these days that condos are a dangling carrot. But before you take a bite into a big opportunity, there are some important things to know about buying a condo for investment. Here are some important things to consider and/or prepare for before diving in. Do NOT Trust The Floor Plan! A common misconception many people make when condo hunting is assuming the square footage of a condo only includes the living space and not the balcony or the washroom. This is true of condos for resale, but not for new and pre-sale condos! When it comes to new and pre-sale condos, balconies and/or terraces are almost always included in the total square footage of the suite. It can be a very tricky business, and the rooms may not end up looking like wha