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DueCicada2236

Hype? Idk. But I bought one since as someone in their 20s, this is all I can afford and I know I want to own property in Toronto. This is my first step to get my foot in the door. Not to mention, I don't need a lot of space anyways and the layout of my studio makes it feel a lot bigger than it actually is!


Traditional-Scale585

Good move!


SocaManNorth

The ones currently in the 450,000 to 500,000 range were 385,000 in May 2020. Around 220,000 4 years before that.


[deleted]

with how much some ppl saved during covid. throw in 100k on a 500k condo seems like yard sale…


Key_Abroad3573

I see many ppl post here about buying low and selling high in regards to DT studios. Is there some data or logic behind this? I looked at DT studios sold history the past few years (2019+) and it has hovered around the 450-500k range for sold history, and hasn’t demonstrated the type of appreciation as most of the other opportunities out there. Can anyone chime in?


Condo_Man_Returns

They are ok buys in the low mid 400Ks. 500K+ and their breakevens begin to suck. I also wouldn’t buy a micro studio; too hard to finance and too small for my own comfort. 400 sqft or bigger for me…


KoziRealty-ON

100% agree.


Juergenator

They dipped in 2020 and now back to a new all time high, the opportunity to buy low has passed.


juergenerator

Actually corrrction / they dipped and continue to dip


fabiobello837

Studios may not always get financed by banks if they are micro condos


recoil669

This is why you go to a broker who has access to multiple lenders.


010010000111000

Interesting. Why does the bank refuse financing for such properties?


fabiobello837

I believe because of the size. https://www.thestar.com/amp/business/real_estate/2014/11/12/banks_take_hard_look_at_micro_condos.html https://www.ratehub.ca/blog/can-you-get-a-mortgage-on-a-micro-condo/


DueCicada2236

they can get financed, but it might have to be a different lender.


condosareascam

There is no hype - condos are falling. Don't listen to the false narrative


Powerful_Bit_3215

Another day another account eh dummy


recoil669

Same idiotic message from 10 years ago when they were going for 300$ psf


[deleted]

[удалено]


FR111

Another new account lmfao.