Tag Archives: Condominium

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Condo Market: With New Condos, The ‘Big Picture’ is a Masterpiece

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Condo Market: With New Condos, The ‘Big Picture’ is a Masterpiece

Making decisions by looking at the big picture is wise, especially when shopping for a new condominium suite. Across Toronto and the Greater Toronto Area, you will find a myriad of amazing choices, locations and designs available. By North American standards, the appointments that come with our condos here in Canada are far and beyond what builders offer south of the border. Overall when you purchase new, you benefit from the latest design and construction standards, as Ontario Building Code is regularly amended to increase quality and energy efficiency.

As you shop for a new condominium, again, look at the big picture, then hone in on the details. Where would you like to live? “Location, location, location” became a cliché because it is so true, it is used all the time. Consider where you work, where your friends and family live, and places you like to frequent. You may base your location decision on being fairly close to any or all of these. Then again, purchasing for less in an up-and-coming neighbourhood that is a little farther out may well be worth the money you save over the course of your amortization.

Of course price is a big factor in your big picture. Be sure to look at prices realistically, and be fair when you compare. What does your purchase price include? Check which appointments are standard and which you will have to upgrade. The developer may be offering incentives that include upgrades or price reductions.

Next, look at the buildings you are considering from the outside-in. Do you like the architecture? Will the building make you feel “at home”? And amenities – do they satisfy your personal lifestyle and add to your future resale value? Thinking ahead is a great idea, because at some point, sometime, you will likely want to sell for whatever reason. If you are an investor, that’s even more reason to look at the big picture wisely and compare fairly.

One of the most exciting things about buying new is the colour selection appointment. This is where you choose the standards and upgrades (if desired) that transform your surroundings to reflect your personality and tastes. If you do decide to spend extra for options and want to maximize your potential return-on-investment, look at what the experts say: focus on the kitchen and bath(s) first. The breadth of the selection is remarkable. Among the tantalizing choices you will find items such as quiet self-closing drawers, wine fridges, pasta water taps, cabinetry with glass fronts, cornice moulding, extended islands, you get the detailed picture. And in the bathroom, with soaker tubs, marble flooring, rainwater showerheads and more, you can turn your ensuite into your own personal spa.

New home shoppers in the Greater Toronto Area are among the luckiest in the world. So, enjoy your shopping, consider the details and remember the big picture. Then place yourself into it in a beautiful new condo.

BARBARA LAWLOR is president and CEO of Baker Real Estate Incorporated and an in-demand columnist and speaker. A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in the GTA and overseas. Keep current with The Baker Blog at blog.bakerrealestate.com

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Life is an Odyssey in Grimsby

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Life is an Odyssey in Grimsby

Waterfront condominium and townhome community coming soon from Rosehaven

Each of us has our own individual style and views, but the water calls us home. Rosehaven is poised to bring luxury waterfront living with Odyssey. A brilliant 20-storey condominium complemented by 2 and 3-storey condo townhomes launching this summer by the shores of Lake Ontario in Grimsby.

Known as the gateway to Niagara, the gorgeous Grimsby waterfront is no longer the neighbourhood’s own secret. New home buyers have discovered the wonderful lifestyle and beautiful surroundings of this charming historic town. Set amidst everything that makes the Niagara Region appealing, Grimsby is a vibrant and growing town with a lively arts-and-culture scene, shopping, dining and more.

Here you will discover waterfront parks and conservation areas, with miles of tree-lined trails to explore. The Lookout Trail in the Beamer Conservation Area offers panoramic view of Grimsby and the lake and leads to Upper Beamer Falls. Coronation Park has the Lions Community Pool with a playground and splash pad as well as the Forty Mile Creek Trail, and a fun summer festival event called Happening at the Forty. The Bruce Trail runs through Beamer Valley, over the Forty Mile Creek and up to the escarpment where it has four lookouts offering an excellent lake views. Odyssey residents will love the Waterfront Trail at their door.

Odyssey’s 20-storey high-rise condominium residence will feature amazing views of Lake Ontario and the Niagara Escarpment. Condo suites offer a choice of lakeview or Escarpment views overlooking this spectacular neighbourhood where the Escarpment meets the Lake.

Residents can enjoy the carefree ‘lock-and-leave condo lifestyle with brand new amenities, and no upkeep or maintenance chores. Feel comfortable going away on vacation without worrying about your home.

Because Rosehaven knows that everyone’s life story is unique, the innovative builder is creating a wide selection of condo suite designs, with spacious open concept interiors with contemporary finishes to complement your personal style.

The condo townhomes at Odyssey are fresh and contemporary both inside and out – Rosehaven designs not see before. Three-storey townhomes will feature rooftop patios with views of the Escarpment. Two-storey townhomes are set on the second and third floor above ground floor retail and will have views of the lake.

Living in Grimsby with the lake right across the street feels like another world. It’s hard to believe that it’s only 30 minutes to Oakville, Burlington and St. Catharines.

A few minutes away are world famous wineries to tour, beautiful Niagara On The Lake and all the attractions of Niagara. The new Grimsby GO Station opening soon will connect to the Lakeshore West line that runs all the way from Niagara to Toronto’s Union Station.

Those who love waterfront condo living surrounded by natural beauty are urged to register online for Odyssey right away. For more information, visit www.myodysseylife.com

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Report: Questions to Ask a Real Estate Lawyer

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Report: Questions to Ask a Real Estate Lawyer

When Buying a Newly Built Condominium

If you’re in the market for a new condo, your real estate lawyer can be a good source of advice and of important information about your warranty rights and responsibilities.

Before you sign your Agreement of Purchase and Sale — a critical first step toward becoming a condo owner — here are a few common questions to ask your real estate lawyer:

1 Is my entire deposit protected?

Under the Condominium Act, the whole deposit must be held in trust or alternate security provided. So, your entire deposit is likely protected in the event that the builder cannot complete the project. Tarion provides deposit protection of $20,000 in the rare instance where trust money is improperly released.

2 Why is it taking so long to build my condominium?

Condominium projects can take a long time to build. To better understand the anticipated timeline for your condo, carefully review the Addendum to your Agreement of Purchase and Sale with your real estate lawyer. Here’s what to look for: On page one of the Addendum, you’ll find a few key dates:

  • The first date (listed as either “Firm” or “Tentative”) is called the “Occupancy Date.” Think of this as the builder’s first and best estimate for when your condo will be ready for occupancy. With proper notice, this date can be moved by the builder.
  • The second date is the “Outside Occupancy Date.” This is the builder’s estimate for completion in the event there are unanticipated delays. This date cannot be moved unilaterally by the builder because it is a firm commitment and is usually set years in the future.

On page two of the Addendum you’ll find information on the status of the project at the time of signing. For example, the builder must check off if he/she has obtained formal zoning, and if construction has commenced. If neither of these boxes are checked “yes,” the project may be years away from completion. Keep in mind, however, that money held in trust doesn’t get released until the project gets finished.

3 Are upgrades covered by my warranty?

Almost all new condos in Ontario are protected under warranty. But that warranty only covers what is contained in your Agreement of Purchase and Sale. Extras — such as upgrades that are not included in your contract — will not be covered under the warranty. What’s more, anything agreed to on a handshake or verbal promise will not be protected. So if you request additional items, work with your real estate lawyer to make sure everything is in writing!

For more tips for condo buyers and to learn more about new condo warranties, visit Tarion.com

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Video : Concord Park Place – Seasons

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Video : Concord Park Place – Seasons

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Video : Protecting Your Condominium Investment – Your Unit

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Video : Protecting Your Condominium Investment – Your Unit

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