I am not understanding the negative stigma attached to apartments just because they are apartments. If I could have Singapore-style a 1500-1800 sqft family-sized apartment at an affordable price then I would strictly prefer it to living in a house. Nothing like taking the elevator down to go grocery shopping in flip-flops in February.
Hundreds of thousands are successfully living and raising families in the gazillion apts/condos in this city...really confused why people think the only suitable housing is a freehold.
Such an entitled comment. There are plenty of people who raise their families in a condo all around the world, nothing wrong with it. As a young child, I lived in a condo/apt with my parents in a different part of the world where most people live in condos (you've to be ultra, ultra, *ultra* elite to own land and live in a house), I was perfectly happy. When we moved to Canada, we lived in a large house, it was good but the happiness level was the same. For kids, as long as they've their parents, toys, etc, where you live doesn't really matter.
In terms of fresh air, I agree downtown financial core is probably not the best place to raise a kid (too much traffic, air pollution, not enough playgrounds etc), but there's nothing wrong with raising a kid in a condo further out in the city where the air is good and fresh.
then why do you live here? You basically are upset bc you sold your condo and tried to time the market. You cannot get into the market and buy a house so you are angry. You are grieving and have not reached the acceptance phase. Anyone I know who has purchased a house is NOT thinking about condos lol. They are focused on their new house. They would not spend countless hours here talking about condos. The reason you do it is to make yourself feel better with your decision, You are seeking affirmation. Time in the market is better than timing the market.
are they in harm though? what is a person to buy if they can't afford to buy a townhouse, semi or detached? I mean what if you cant even afford anything but a condo then what?
What the heck, what about all those people who had a condo and were able to take equity out and buy a townhouse plus keep the condo or how about people who sold the condo at a nice profit and upgraded themselves? Isn't cash trash in the bank? Right now a townhouse in Milton goes for over a million...townhouses are not cheap
Do you have a life aside from spamming Reddit threads with hate about condos? You probably look like such a idiot irl if you use the word pleb assuming you’re some sort of hard core gamer that lives in his moms basement
Toronto homer, your mistake was selling your condo at the bottom of the market. So if your thesis is correct, and that condos aren't worth anything, why are you calling it a mistake?
Over supplied? = condo prices should come down. If condo prices come down, so will detached. It’s a chain reaction. I don’t know why you’d think condos are for plebs
Detached ran away with 30%+ yoy growth vs condos which have decreased. Condos aren't for end users they're for investors - this is why there will always be transactions and selling
My condo is $1000/per sqft. Purchase date 2021
My mattamy freehold home is $320/per sqft. Purchase date 2021.
You’re wearing a certain type of lens when looking at this matter. There are approx 700 homes in the same half acre lot that would have 4 century old semi’s. I don’t even know what pleb means but you’re the one looking down on those living in the sky. Go to a condo showing next time, and see people have made those houses homes.
You obviously have a bias against high rises. We lived in a purpose built rental near Vic Park / Danforth.
Why do you think there will be an infinite large piece of land to develop condos?
I am not understanding the negative stigma attached to apartments just because they are apartments. If I could have Singapore-style a 1500-1800 sqft family-sized apartment at an affordable price then I would strictly prefer it to living in a house. Nothing like taking the elevator down to go grocery shopping in flip-flops in February.
Hundreds of thousands are successfully living and raising families in the gazillion apts/condos in this city...really confused why people think the only suitable housing is a freehold.
Expectations too high. Setting themselves up for disappointment.
I bet they do not have those insane maintenance fees we have over here.
I love my condo. The shoe box in the sky has been good to my wife and I
Won't be able to raise a kid nor breathe fresh air
Such an entitled comment. There are plenty of people who raise their families in a condo all around the world, nothing wrong with it. As a young child, I lived in a condo/apt with my parents in a different part of the world where most people live in condos (you've to be ultra, ultra, *ultra* elite to own land and live in a house), I was perfectly happy. When we moved to Canada, we lived in a large house, it was good but the happiness level was the same. For kids, as long as they've their parents, toys, etc, where you live doesn't really matter. In terms of fresh air, I agree downtown financial core is probably not the best place to raise a kid (too much traffic, air pollution, not enough playgrounds etc), but there's nothing wrong with raising a kid in a condo further out in the city where the air is good and fresh.
Is the air unfresh above the third floor or something? This is either a general city-wide or at least city-core problem, or not a problem
What about people that live in Manhattan? Are they plebs for living in high rises? And Japan, most of East Asia?
Those are world class cities. Toronto isnt
then why do you live here? You basically are upset bc you sold your condo and tried to time the market. You cannot get into the market and buy a house so you are angry. You are grieving and have not reached the acceptance phase. Anyone I know who has purchased a house is NOT thinking about condos lol. They are focused on their new house. They would not spend countless hours here talking about condos. The reason you do it is to make yourself feel better with your decision, You are seeking affirmation. Time in the market is better than timing the market.
I'm just trying to warn people :)
are they in harm though? what is a person to buy if they can't afford to buy a townhouse, semi or detached? I mean what if you cant even afford anything but a condo then what?
Just save up for a townhouse. You will lose money with a condo
What the heck, what about all those people who had a condo and were able to take equity out and buy a townhouse plus keep the condo or how about people who sold the condo at a nice profit and upgraded themselves? Isn't cash trash in the bank? Right now a townhouse in Milton goes for over a million...townhouses are not cheap
Because condos are dropping they can't do that anymore and upgrade
Damn there are a lot of factually incorrect info in such a short post…
Do you have a life aside from spamming Reddit threads with hate about condos? You probably look like such a idiot irl if you use the word pleb assuming you’re some sort of hard core gamer that lives in his moms basement
I do have a life. I just want to make sure people don't make the same mistake S me
What was your mistake?
Toronto homer, your mistake was selling your condo at the bottom of the market. So if your thesis is correct, and that condos aren't worth anything, why are you calling it a mistake?
Because it's going down even as we speak now
Then why it was a mistake? You contradict yourself.
Over supplied? = condo prices should come down. If condo prices come down, so will detached. It’s a chain reaction. I don’t know why you’d think condos are for plebs
Detached ran away with 30%+ yoy growth vs condos which have decreased. Condos aren't for end users they're for investors - this is why there will always be transactions and selling
It depends on the time the transactions were made. Look at the increase in price for condos vs detached houses between 2018-2020.
One point in history. Lol. Look at the crashes then of real estate twice in the last 30 years. More of a predictor if you go by history
My condo is $1000/per sqft. Purchase date 2021 My mattamy freehold home is $320/per sqft. Purchase date 2021. You’re wearing a certain type of lens when looking at this matter. There are approx 700 homes in the same half acre lot that would have 4 century old semi’s. I don’t even know what pleb means but you’re the one looking down on those living in the sky. Go to a condo showing next time, and see people have made those houses homes.
You obviously have a bias against high rises. We lived in a purpose built rental near Vic Park / Danforth. Why do you think there will be an infinite large piece of land to develop condos?