Location, location, location, why it’s so important when buying a condo
I often write about condominium shoppers creating a spreadsheet or list of important items to consider. The number one thing is always location. The phrase “location, location, location” may seem trite, but in fact, it is based on solid truth. For most purchasers, the big picture is paramount in their final decision. Fortunately, in Toronto and the GTA, you will find a myriad of amazing choices, locations and designs available offered by some of the world’s finest developers and architects.
One of the first things to look at regarding location is whether the buildings are in established or up and coming neighbourhoods. You may feel that you prefer and can afford a residence in the midst of established amenities and mature trees and greenery. On the other hand, if price is a major factor for you, selecting a growing area with new amenities planned in the future might be more economically feasible. Again, you have numerous wonderful choices of both types.
Where do you work? Even with the pandemic-fuelled work-from-home scenario, there are still thousands and thousands of people across the GTA who have to go somewhere for their jobs. When you consider your commute from a new condominium, be sure to avoid the mistake of estimating times by the as-the-crow flies method. You are wise to actually do the commute during rush hour, whether by driving or using public transit, to be realistic.
And speaking of public transit, are the condos you are considering close to transportation access? In addition to making your life easier, they will hold their appeal more when you go to sell someday. Our transportation infrastructure continues to grow and expand, which is a wonderful boon to residents everywhere.
Transportation aside, what about walkability? Most condo owners want to live where they can shop, dine out, run errands and the like within a quick stroll. Visit walkscore.com, plug in the address of a condo, and you can find out what amenities and services are within walking distance.
How about the places and people you visit often – family and friends, and any clubs and associations you belong to? Will they be easy to get to from the new locales you are looking at? If you are a member of a yacht club or keep a boat on Lake Ontario, you might want to live right by the water.
Of course, price, architecture, building amenities, features and finishes and builder reputation and track record should all have prominent places in your comparison list or spreadsheet. Wherever and whatever you buy, keep in mind that 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.
New-home buyers in the GTA are among the luckiest in the world. So, enjoy your shopping, consider the details and remember the big picture. Then take your place in it in a beautiful new condo!
Barbara Lawlor is President and CEO of Baker Real Estate Inc. and winner of the pinnacle 2017 Riley Brethour Award from BILD, among other accolades. A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in Canada in the GTA, Vancouver, Calgary and Montreal, and internationally in Beijing. bakerrealestate.com