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Discussion Starter #1
There are always 2 sides, one who think we should wait because the RE market going to crash and the other that believe although there might be slowdowns, but the RE trend is always upwards.

Regardless of your views ... what do you think you would pay for OR what do you think a good price would be for:
  • A condo unit in Yonge/Finch (about 5 mins walk to Finch subway)
  • 2+1 bedroom (and the den is a decent size den, you can fit a single bed and a small desk)
  • No walk-in closet for the master
  • 2 bathrooms (both have bathtubs, not just showers)
  • decent size kitchen, living room and a separate dining area (you can fit a table with 4 chairs in the dining area)
  • the building amenities include indoor pool, gym, sauna, party room with the maintenance fee < $500
  • the unit includes locker and parking
Approximate size:
Living room 4.2 m x 5.2 m
Dining room 2.6 m x 2.7 m
Kitchen 2.7 m x 2.6m
Master bedroom 4.3 m x 3.0 m
Bedroom 2.5 m x 3.7 m
Den 2.1 m x 2.1 m

Opinions and thoughts greatly appreciated
 

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Well, there's nearly 100 such units on MLS right now, asking ~$300k for the buying side.

There's a number available for rent as well, in the neighbourhood of $2k/mo, including utilities in many cases.

Given the supply, and the steep maint fees, I figure if you think it's worth renting at ~$2k (all inclusive), that would translate to a purchase price around ~$225-250k. So I'd hold off on buying and rent it for now.
 

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CuriousReader - I agree with your comment 'There are always 2 sides, one who think we should wait because the RE market going to crash and the other that believe although there might be slowdowns, but the RE trend is always upwards.'

The RE market can and will go up and down shorter term, however due to inflation, its general trend will be upwards over time, just like anything else. The difference to is to buy at the optimal time/price to maximize the value of my dollar. For that, now is not the time.

The second part of your post I couldn't tell if you were seeking advice on buying such a condo, or if you were simply trying to figure out what some of the posters would pay for such a condo. For better advice provide a link to the property to see the layout, kitchen (it is sad how granite can make or break a deal) and such. And how long you would plan on living there.

Ultimately the current market will set the current buy/sell price.
 

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Discussion Starter #4
The second part of your post I couldn't tell if you were seeking advice on buying such a condo, or if you were simply trying to figure out what some of the posters would pay for such a condo. For better advice provide a link to the property to see the layout, kitchen (it is sad how granite can make or break a deal) and such. And how long you would plan on living there.

Ultimately the current market will set the current buy/sell price.
I am looking to get some opinions on CMF community on how much they think it's worth for a condo unit with the description. Unfortunately, I dont have access to the layout and stuff but I can give some rough estimation ... and the size of the rooms are given in the first post.

It's not granite and not stainless steels, the bathrooms are also pretty standard - no high end fancy stuff, not cheap stuff either. It's just okay, I think we can always upgrade those stuff anyway.



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