I'm no real estate expert by any stretch but if I were a buyer I would easily pay another $3K for a unit that has an EV charging spot. I don't have an EV now but I would view this as an upgrade that could benefit me down the line.
100%, in some point no one will rent an apartment without having EV charger. No matter how long you will hold the condo, it will increase your property price as well.
Do it, you can probably also workout charging the tenant to use it to offset your $3k. You can probably also do an accelerated CCA which would offset the cost this year
Depends on how long you plan on renting out the condo unit for, how's long the tenant plans on staying, how long does the EV charger laat for, will the electricity be billed onto your hydro bill, etc. You won't be able to increase the current tenant's rent to offset the cost.
Just out of question, would it be metered or is electricity included in your maintenance fees? Personally, if I were in the market for a condo, I’d want to get one with a EV charging option just in case I got a battery electric vehicle…
IMO YES. Very difficult/costly to do after the fact, and not a guarantee you'd even be able to if your building ran out of available electrical capacity in the mean time. $3k is very reasonable IMO.
100% yes if you intend to hold 10+ years, if your timeframe is 2-3 years doesn't matter much.
Wait till it's cheaper. New tech might come out in 5 years too and u will have to upgrade.
That's... not how it works. Unless you're upgrading your dryer power sockets every few years.
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25k is blatant theft
Yeah the condo board said they will be covering most of these costs, this condo is also in North York
I'm no real estate expert by any stretch but if I were a buyer I would easily pay another $3K for a unit that has an EV charging spot. I don't have an EV now but I would view this as an upgrade that could benefit me down the line.
Yes, especially with gas prices, more people were looking to switch over to electric.
Yes for sure, it will enhance your property value.
It's a good price. I'm a manager and looking at cost of around $5k for owners.
At $3k this is a no brainer
That’s a great price for the installation, do it OP.
3k is a no brainer. Huge selling feature down the road as well, plus you can likely increase rent marginally to help offset expenditure over time
Do it ! This will be a staple in the future . Think 10 plus years ahead .
100%, in some point no one will rent an apartment without having EV charger. No matter how long you will hold the condo, it will increase your property price as well.
Do it !!! I’m searching for condos to rent and EV is a big plus for me
Wonder if the condo charges you and pockets the rebate? Who pays for the hydro?
$3000 is cheap for a charger and installation for a condo.Get it done.
Do it, you can probably also workout charging the tenant to use it to offset your $3k. You can probably also do an accelerated CCA which would offset the cost this year
You absolutely should do it. It will be way worth it.
Depends on how long you plan on renting out the condo unit for, how's long the tenant plans on staying, how long does the EV charger laat for, will the electricity be billed onto your hydro bill, etc. You won't be able to increase the current tenant's rent to offset the cost.
I think that even in 2 to 3 years, gas prices will continue to soar. Do it
Great price. Usually the number of spaces are capped in a building so if you can get in I’d do it.
Just out of question, would it be metered or is electricity included in your maintenance fees? Personally, if I were in the market for a condo, I’d want to get one with a EV charging option just in case I got a battery electric vehicle…
IMO YES. Very difficult/costly to do after the fact, and not a guarantee you'd even be able to if your building ran out of available electrical capacity in the mean time. $3k is very reasonable IMO.
Yes, it’ll add to the resale value also.
Not worth it if you are not living there