DUNDAS REAL ESTATE REPORT - Steve Roblin Sales Representative/Broker Judy Marsales Real Estate LTD. Brokerage 905 522 3300 www.steveroblin.com
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DUNDAS REAL ESTATE REPORT Steve Roblin Sales Representative/Broker Judy Marsales Real Estate LTD. Brokerage 905 522 3300 www.steveroblin.com
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Steve Roblin’s Real Estate Newsletter
Dundas
The Dundas Report
Resale volume
HAMILTON rebounds
2018 MARKET strongly...
OFF TO QUIET START
For detailed Dundas statistics: www.DundasReport.info
Latest 3 Month Recap of Solds – Nov 1, 2017 - Jan 31, 2018
# sold
X
average price low price high price days on
market
1.5 to 3 storey detached
2 bedroom 3 544,333 418,000 645,000 43
3 bedroom 9 766,267 399,900 1,700,000 39
4 bedroom 9 720,311 546,000 819,900 53
5 bedroom 1 825,000 825,000 825,000 28
split level
3 bedroom 2 537,450 500,000 574,900 12
bungalow
1-2 bedroom 1 433,250 433,250 433,250 7
3 bedroom 5 630,003 515,000 785,000 41
semi-detached
2 bedroom 1 340,900 340,900 340,900 7
raised bungalow
2 bedroom 1 515,000 515,000 515,000 61
3 bedroom 1 525,000 525,000 525,000 68
Total 33 41
Steve Roblin Sales Representative
905.522.3300
roblin@judymarsales.com
page 1 www.DundasReport.info March 2018
HAMILTON 2018 MARKET OFF TO QUIET START
Resale Home Sales
Jan 2018 Jan 2017
251 -34.5%
year
year 383
MARKET HIGHLIGHTS Average Days on Market
Jan 2018 Jan 2017
• January volume down by 34.5% vs. last
year, with 251 units changing hands
• Despite volume softness, the average 42 28
DAYS DAYS
resale price was up by 4.8% vs. last year to
$448,460
• Too early to tell to what extent volume Total Inventory
softness is related to the new “stress test”
Jan 2018
mortgage qualification requirement
year
• Despite firm prices, the sales experience is 636 +68.8% year
taking longer (42 days vs. 28 days last year)
Hamilton Average Resale Price
$600,000
2016 2017 2018
$500,000
$400,000
$300,000
$200,000 JAN 2018
$448,460
$100,000
JAN MAR MAY JUL SEP NOV
page 2 www.DundasReport.info March 2018
In real estate, the ability to identify an the neighbourhood are taking care of their
emerging neighbourhood before it becomes properties by making a long-term investment
trendy is akin to predicting the jackpot in their houses or preparing to sell at a higher
numbers. If you’re one of the lucky ones that value. Either way, renovations improve the
manages to move into an up-and-coming neighbourhood’s overall curb appeal and
neighbourhood before the masses start to attract the attention of prospective buyers.
flock in, not only do you get to bask in the Look At The Surrounding Neighbourhoods
new local businesses that are flourishing
around you but you’ll also get to enjoy a If you don’t see homes being renovated
pleasant jump in your home’s value. So how or new businesses popping up, it doesn’t
do you spot the next trendy area before it’s necessarily mean that the neighbourhood
too late? Here are some of the telltale signs. won’t become a hot market in the future.
Check the surrounding areas. Is it close to a
Look For New Businesses trendy neighbourhood? If so, there’s a chance
The opening of new local businesses shows that people who have been priced out of that
much promise of growth but the types of neighbourhood will want to move into nearby
businesses matter too. It doesn’t necessarily areas.
have to be a Starbucks; clothing stores, sit- Ask Your Real Estate Agent
down restaurants, independent coffee shops,
art galleries, and supermarkets are businesses Still not sure? Talk to your real estate agent.
that tend to attract people from other parts They’ve been in the business long enough
of town and before long, people may start to decode all the signs of an emerging
to see some semblance of a very desirable neighbourhood and have the inside scoop
neighbourhood. on upcoming development plans that could
change the face of a neighbourhood.
Look For Renovations To Existing Homes
If you see homes that are undergoing
renovations, it’s a good sign that people in
page 3 www.DundasReport.info March 2018
Your Dundas Choice!
Message from Steve Roblin...
Toronto gets slapped with new Airbnb regulations
The wave that hit Vancouver has now reached Toronto. Starting June 1st, short-term rentals
in Toronto will be placed under strict regulations in order to curb rising rental costs and
low vacancy rates. Some condominium corporations already have rules in place banning
short-term stays in order to protect amenities and property values. But for buildings
without such rules, the new regulations mean that condo owners will no longer be able
to rent units that are not their principal residence. Hosts who decide to rent out their unit
will have to pay a $50 annual fee, and they can only rent out their space for a maximum of
180 nights per calendar year. They’ll also be subject to random auditing. Short-term stay
companies like Airbnb will also have to comply by paying the city a one-time registration
fee of $5,000 and a licensing fee of $1 for each night that is booked on their platform.
www.DundasReport.info for the rest of your newsletter...
Steve Roblin Sales Representative
905-522-3300
www.SteveRoblin.com
roblin@judymarsales.com
www.JudyMarsales.com
Judy Marsales Real Estate Ltd., Brokerage
986 King Street West, Hamilton, ON L8S 1L1
Not intended to solicit buyers or sellers currently under contract with a brokerage. Statistics courtesy of the REALTORS®
Association of Hamilton-Burlington. Property values depend on factors besides housing type and number of bedrooms. Square
footage, overall condition, upgrades, lot size and specific location are some of the other key factors involved. Copyright © 2018
Mission Response Inc. www.missionresponse.com 416-236-0543 All Rights Reserved. T1628 02
page 4 www.DundasReport.info March 2018
The City Square Condos Report Contemporary WHT Contemporary MICRO (McGuigan/Mac
Steve Roblin’s Real Estate Newsletter March 2018 March 2018
SILVER Curcio
City Square Condos HAMILTON 2018 MARKET OFF TO QUIET START
March 2018 March 2018
Market Watch Resale Transactions
Contemporary BLK Morrison
Jan 2018 Jan 2017
For detailed City Square Condos statistics:
251 -34.5% 383
year
www.CitySquare-Condos.info March 2018 year
March 2018
Crigger
MARKET HIGHLIGHTS Average Days on Market
Latest 12 Month Recap of Solds – Feb 1, 2017 - Jan 31, 2018
MARCH 2018 Jan 2018 Jan 2017
• January volume down by 34.5% vs. last
# sold avg price high price days on year, with 251 units changing hands
market CLASSIC
• Despite volume softness, the average
42
LEMAICH 28
resale price was up by 4.8% vs. last year
DAYS DAYS
85 Robinson St to $448,460
1 bed, 1 bath 20 307,975 339,000 37 MARCH 2018
• Too early to tell to what extent volume MARCH
Total 2018
Inventory
2 bed, 1 bath 1 339,000 339,000 17 softness is related to the new “stress test” Jan 2018
2 bed, 2 bath 1 545,000 545,000 36 Smith
mortgage qualification requirement
year
• Despite firm prices, the sales experience is 638 +68.8%
March 2018
taking longer (42 days vs. 28 days last year)
year
Total 22 36
SIGNATURE WHT
Hamilton Average Resale Price
90 Charlton Ave W $600,000 — MARCH 2018 —
1 bed, 1 bath 3 299,100 340,000 19 — MARCH 2018 — 2016 2017 2018
1 bed, 1.1 bath - - - - $500,000
AYOUBI
2 bed, 2 bath - - - -
$400,000
Total 3 19 March 2018
Stevenson
$300,000
VOLPENTESTA/LOPEZ
$200,000 JAN 2018
March 2018
$448,460 MARCH 2018
$100,000
JAN MAR MAY JUL SEP NOV
Your Dundas Choice!
Message from Steve Roblin...
MURPHY/BORYS
Toronto gets slapped with new Airbnb regulations
Steve Roblin
Sales Representative
The wave that hit Vancouver has now reached Toronto. Starting June 1st, short-term
905.522.3300
rentals in Toronto will be placed under strict regulations in order to curb rising
rental costs and low vacancy rates. Some condominium corporations already have
rules in place banning short-term stays in order to protect amenities and property
values. But for buildings without such rules, the new regulations mean that condo roblin@judymarsales.com
owners will no longer be able to rent units that are not their principal residence.
BENDERA
Hosts who decide to rent out their unit will have to pay a $50 annual fee, and they
www.SteveRoblin.com
PATERSON
can only rent out their space for a maximum of 180 nights per calendar year.
March 2018
They’ll also be subject to random auditing. Short-term stay companies like
Airbnb will also have to comply by paying the city a one-time registration fee of
— MARCH 2018 —
$5,000 and a licensing fee of $1 for each night that is booked on their platform.
Homelife WENSING
March 2018 MAR
Contemporary WHT
The City Square Condos Report March 2018
SILVER
March 2018
It can be confusing when the terms “exclusive use” Just as with common elements, executive board
Contemporary BLK
and “common elements” are fused together. After members and maintenance workers still have access
all, aren’t common elements available for use by all to exclusive-use common elements in order to March 2018
owners in a building? Technically they are. Common conduct routine inspections and repairs. The board
elements refer to the parts of a condominium also has the authority to determine how these areas Crigger
building that belong to all owners, such as lobbies, are to be used and how they should look.
recreational rooms, swimming pools, parking garages, MARCH 2018
and hallways. When the words “exclusive use” or You can find out what parts of your building are
“limited” are used to describe common elements, this common elements and what are exclusive-use CLASSIC
is referring to the parts of a building that are restricted common elements in your condo’s declaration.
to specific owners, such as balconies, private elevators,
and parking areas designated for certain units. MARCH 2018
PRO: They have more space Smith
PRO: Maintenance fees have stabilized
Unit sizes have gone down as urban It’s true that older buildings generally have
March 2018
THE PROS AND CONS OF developers try to squeeze as many units higher monthly maintenance fees than
in the sky as possible. That means that if
you’re looking for an affordable condo
SIGNATURE
new condos, butWHT
property managers of
older builds have a better sense of how
MOVING INTO AN OLDER CONDO over 1,000 square feet, your best bet is to
look into older buildings. They tend to be
much to budget for maintenance and
—and
repairs, MARCH
they likely2018 — cushion
have a good
built with more spacious bedrooms while (reserve fund) saved up for emergencies.
AYOUBI
Thanks to the rapid expansion of condo developments shared areas like the kitchen, living room This means that there will be no surprise
in hot urban markets like Toronto and Vancouver, and dining room tend to be better defined. fee hikes when you live in an older unit,
there’s no shortage of brand new units to choose March 2018fees in newer buildings will be
whereas
from. With their sleek finishes and modern appliances, CON: They may be outdated less predictable.
it’s easy to see why one might forget to explore Units that haven’t been upgraded in the Stevenson
buildings that are more than 15 years old. Sure, older past five years could be in need of a major CON: They may be less energy efficient
condos may have some wear and tear but they could facelift. This means you may have to foot
the bill for brand new appliances, cabinets,
March 2018
Older condos may not be as green as
newer ones even with updated building
just as easily suit your lifestyle as a newer build. If
you’re thinking about moving into an older condo, backsplashes, countertops, flooring, codes. They may still be relying on energy-
consider these pros and cons. lighting, hardware and more. While you’ll draining appliances. There could also be
enjoy an increase in your condo’s value air leaks around windows and doors that
when it comes time to sell, you may have would drive up your energy bills. When
to make a hefty investment upfront. Older MURPHY/BORYS
shopping around, look into whether
buildings also typically have lower ceiling these buildings have been retrofitted for
heights, which is an issue that simply can’t sustainability.
be addressed after the fact.
www.CitySquare-Condos.info for the rest of your newsletter...
PRICELESS QUOTES
“America is the only country where a significant proportion of the
Steve Roblin BENDERA
Sales Representative
population believes that professional wrestling is real but the moon March 2018
landing was faked.” – David Letterman 905-522-3300
“To err is human, to forgive, canine.” – Anonymous roblin@judymarsales.com
www.SteveRoblin.com
“I don’t own any of my own paintings because a Picasso original costs
several thousand dollars – it’s a luxury I can’t afford.” – Pablo Picasso
Homelife
www.JudyMarsales.com
“You can always tell a good politician by the way he answers. He
makes you forget the question.” – Anonymous March 2018
MARCH 20
In accordance with PIPEDA, if you wish to be removed from this mailing list please email or phone this request to the REALTOR® at
any time. Not intended to solicit buyers or sellers currently under contract with a brokerage. Figures based on the latest 12 months
and reflect all MLS® sales as reported by the REALTORS® Association of Hamilton-Burlington. Copyright © 2018 Mission Response Inc.
416-236-0543 www.missionresponse.com All Rights Reserved. X0955 Judy Marsales Real Estate Ltd., Brokerage 986 King Street West, Hamilton, ON L8S 1L1SteveRoblin’s
Steve Roblin’sReal
RealEstate
EstateNewsletter
Newsletter
Dundas District Lofts
Dundas District LoftsReport
Report
Resale
WEAK volume
SUPPLY,
HAMILTON rebounds
2018STRONG
MARKET OFFPRICEstrongly...
GROWTH
TO QUIET START
For detailed Dundas District Lofts statistics: www.DundasDistrictLofts.info
12 12
Latest
Latest MonthRecap
Month Feb 1,1,2017
Solds –Nov
Recap ofof Solds 2015- Jan 31,31,
- Oct 2018
2016
X X
# sold
# sold average price
average price low price
low price high price
high price days on
days on
market
market
397 King Street West
700-1100 sq. ft.
11 bed,
bed, 11 bath
bath 21 387,500
421,000 387,500
390,000 387,500
452,000 24
53
22 bed,
bed, 11 bath
bath 11 465,500
430,000 465,500
430,000 465,500
430,000 15
105
1100-1500 sq.
1100-1500 sq. ft.
ft.
2 bed, 2 bath
2 bed, 2 bath 11 695,000
540,000 695,000
540,000 695,000
540,000 88
109
1500-2000 sq.
1500-2000 sq. ft.
ft.
2 bed, 2 bath
2 bed, 2 bath 1- -
870,000 -
870,000 -
870,000 16-
2000-2500 sq.
2000-2500 sq. ft.
ft.
2 bed, 2 bath
2 bed, 2 bath 1- -
1,125,000 -
1,125,000 -
1,125,000 17-
Total 3 42
Total 6 59
Steve Roblin Sales Representative
905.522.3300
roblin@judymarsales.com
page 1 www.DundasDistrictLofts.info December
March2016
2018HAMILTON 2018 MARKET OFF TO QUIET START
Resale Home Sales
Jan 2018 Jan 2017
251 -34.5%
year
year 383
MARKET HIGHLIGHTS Average Days on Market
Jan 2018 Jan 2017
• January volume down by 34.5% vs. last
year, with 251 units changing hands
• Despite volume softness, the average 42 28
DAYS DAYS
resale price was up by 4.8% vs. last year to
$448,460
• Too early to tell to what extent volume Total Inventory
softness is related to the new “stress test”
Jan 2018
mortgage qualification requirement
year
• Despite firm prices, the sales experience is 636 +68.8% year
taking longer (42 days vs. 28 days last year)
Hamilton Average Resale Price
$600,000
2016 2017 2018
$500,000
$400,000
$300,000
$200,000 JAN 2018
$448,460
$100,000
JAN MAR MAY JUL SEP NOV
page 2 www.DundasDistrictLofts.info March 2018In real estate, the ability to identify an the neighbourhood are taking care of their
emerging neighbourhood before it becomes properties by making a long-term investment
trendy is akin to predicting the jackpot in their houses or preparing to sell at a higher
numbers. If you’re one of the lucky ones that value. Either way, renovations improve the
manages to move into an up-and-coming neighbourhood’s overall curb appeal and
neighbourhood before the masses start to attract the attention of prospective buyers.
flock in, not only do you get to bask in the Look At The Surrounding Neighbourhoods
new local businesses that are flourishing
around you but you’ll also get to enjoy a If you don’t see homes being renovated
pleasant jump in your home’s value. So how or new businesses popping up, it doesn’t
do you spot the next trendy area before it’s necessarily mean that the neighbourhood
too late? Here are some of the telltale signs. won’t become a hot market in the future.
Check the surrounding areas. Is it close to a
Look For New Businesses trendy neighbourhood? If so, there’s a chance
The opening of new local businesses shows that people who have been priced out of that
much promise of growth but the types of neighbourhood will want to move into nearby
businesses matter too. It doesn’t necessarily areas.
have to be a Starbucks; clothing stores, sit- Ask Your Real Estate Agent
down restaurants, independent coffee shops,
art galleries, and supermarkets are businesses Still not sure? Talk to your real estate agent.
that tend to attract people from other parts They’ve been in the business long enough
of town and before long, people may start to decode all the signs of an emerging
to see some semblance of a very desirable neighbourhood and have the inside scoop
neighbourhood. on upcoming development plans that could
change the face of a neighbourhood.
Look For Renovations To Existing Homes
If you see homes that are undergoing
renovations, it’s a good sign that people in
page 3 www.DundasDistrictLofts.info March 2018MARKET CONTINUES ITS TORRID PACE
Your Dundas Choice!
A total of 9,768 resale transactions were recorded through the Toronto Real Estate Board’s MLS® System
in October, up by a hefty 11.5% versus the 8,759 units sold in October 2015. This established a new
all-time high for the month of October and brought year-to-date (January thru October) sales to
Message from Steve Roblin...
just under 100,000 units, up by 12.2% versus the comparable period in 2015. The condo apartment
segment led all key market segments in October with a 22.2% annual growth rate. Detached homes
(+10.3%),Toronto
townhomes (+8.3%) and
gets slapped withsemi-detached homes (+0.0%) followed in that order. The recent
new Airbnb regulations
Season’s Greetings!
federal government policy changes, which took effect on October 17th, may have caused some buyers
The wave that hit Vancouver has now reached Toronto. Starting June 1st, short-term rentals
to accelerate
I wouldtheirlike
buying intentions.
to extend Thesehearty
my most changes maketo
wishes it more
you anddifficult
yourfor all high-ratio
family borrowers
for a joyous
in Toronto will be placed under strict regulations in order to curb rising rental costs and
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mortgage as they
holiday mustI would
season. now qualify
also at a to
like higher
wish “stress
you a test”
very rate thanhealthy
happy, the rateand
that they
low vacancy rates. Some condominium corporations already have rules in place banning
are actually paying. year in 2017. Please drive carefully over the holidays and let’s all remember
prosperous
short-term stays in order to protect amenities and property values. But for buildings
to do whatever
without wethe
such rules, cannewGTA
to help Resale
out those
regulations Home
mean whothatareSales
less fortunate
condo owners will than we arebe
no longer at able
this
14,000
very
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year.their principal residence. Hosts who decide to rent out their unit
2014
will have to pay a $50 annual fee, and they can only rent out their space for a maximum of
12,000
2015 2016
Happy
180 nights per calendar year. They’ll also be subject to random auditing. Short-term stay
10,000
companies like Airbnb will also have to comply by paying the city a one-time registration
fee of $5,000 and a licensing fee of $1 for each night that is booked on their platform.
8,000
Holidays
6,000
4,000
2,000
FEB APR JUN AUG OCT DEC
October www.DundasDistrictLofts.info
also witnessed a whopping 19.7% rise in for the the
MLS®rest
Homeof Price
yourIndex
newsletter...
(HPI) Composite
Benchmark Price versus last year. This index factors out sales mix changes of the various housing types
Steve Roblin
and is therefore the best indicator of the true increase in prices. The average selling price in October
was $762,975 - up by an eye-popping 21.1% versus the $630,254 average price in October 2015. All key
Sales Representative
housing types recorded double-digit price advances: detached homes (+25.8%), semi-detached homes
(+17.7%), townhomes (+20.2%) and condo apartments (+12.5%). Resale inventory of homes remains
905-522-3300
woefully weak (10,563 active listings at October month-end, down by an incredible 34.7% versus last
year’s total of 16,180 active listings). While government policy changes are targeting “demand” in its
bid to “cool” the market, it is clear that the ongoing meagre supply has been most responsible for the
www.SteveRoblin.com
rampant increase in 2016 prices.
roblin@judymarsales.com
GTA Average Resale Price
$900,000
www.JudyMarsales.com 2014 2015 2016
$800,000
$700,000
Judy Marsales Real Estate Ltd., Brokerage
986 King Street West, Hamilton, ON L8S 1L1
$600,000
$500,000
Not intended
intended toto solicit
solicitbuyers
buyersororsellers
sellerscurrently
currentlyunder
undercontract
contractwithwith
a brokerage.
a brokerage.Statistics courtesy
Statistics of the
courtesy Ontario
of the Regional®
REALTORS
$400,000
Technology
Association & Hamilton-Burlington.
of Information Systems Property
Inc. Property
valuesvalues
dependdepend on factors
on factors besidesbesides
housinghousing
type andtype and number
number of bedrooms.
of bedrooms. Square
Square
footage,footage, overall condition,
overall condition, upgrades,
FEB
upgrades, lot size
lot size and and location
specific
APR
specific are
location
someare some
of the of the
other
JUN
keyother
factorskeyinvolved.
factors Copyright
AUG
involved. Copyright
© 2018
OCT DEC
© 2016Response
Mission Mission Response Inc. www.missionresponse.com
Inc. www.missionresponse.com 416-236-0543
416-236-0543 All Rights All Rights Reserved.
Reserved. T1902 02
page 4 www.DundasDistrictLofts.info December
March2016
2018The City Square Condos Report Contemporary WHT Contemporary MICRO (McGuigan/Mac
Steve Roblin’s Real Estate Newsletter March 2018 March 2018
SILVER Curcio
City Square Condos HAMILTON 2018 MARKET OFF TO QUIET START
March 2018 March 2018
Market Watch Resale Transactions
Contemporary BLK Morrison
Jan 2018 Jan 2017
For detailed City Square Condos statistics:
251 -34.5% 383
year
www.CitySquare-Condos.info March 2018 year March 2018
Crigger
MARKET HIGHLIGHTS Average Days on Market
Latest 12 Month Recap of Solds – Feb 1, 2017 - Jan 31, 2018
Jan 2018 Jan 2017
• January volumeMARCHdown by 34.5% 2018vs. last
# sold avg price high price days on year, with 251 units changing hands
market
CLASSIC
• Despite volume softness, the average
42
LEMAICH 28
resale price was up by 4.8% vs. last year
DAYS DAYS
85 Robinson St to $448,460
Total Inventory
MARCH 2018
1 bed, 1 bath 20 307,975 339,000 37 MARCH
• 2018
Too early to tell to what extent volume
softness is related to the new “stress test” Jan 2018
2 bed, 1 bath 1 339,000 339,000 17
Smith
mortgage qualification requirement
year
2 bed, 2 bath 1 545,000 545,000 36 • Despite firm prices, the sales experience is 638 +68.8% year
March 2018
taking longer (42 days vs. 28 days last year)
Total 22 36
SIGNATURE WHT Hamilton Average Resale Price
90 Charlton Ave W $600,000 — MARCH2016 2018
2017 —2018
1 bed, 1 bath 3 299,100 340,000 19 — MARCH 2018 —
1 bed, 1.1 bath - - - - $500,000
AYOUBI
2 bed, 2 bath - - - -
$400,000
Total 3 19 March 2018
$300,000
Stevenson VOLPENTESTA/LOPEZ
$200,000 JAN 2018
March 2018
$448,460
MARCH 2018
$100,000
JAN MAR MAY JUL SEP NOV
Your Dundas Choice!
Message from Steve Roblin...
MURPHY/BORYS
Toronto gets slapped with new Airbnb regulations
Steve Roblin
Sales Representative
The wave that hit Vancouver has now reached Toronto. Starting June 1st, short-term
905.522.3300
rentals in Toronto will be placed under strict regulations in order to curb rising
rental costs and low vacancy rates. Some condominium corporations already have
rules in place banning short-term stays in order to protect amenities and property
values. But for buildings without such rules, the new regulations mean that condo roblin@judymarsales.com
owners will no longer be able to rent units that are not their principal residence.
BENDERA
Hosts who decide to rent out their unit will have to pay a $50 annual fee, and they
www.SteveRoblin.com
PATERSON
can only rent out their space for a maximum of 180 nights per calendar year.
They’ll also be subject to random auditing. Short-term March stay2018
companies like
Airbnb will also have to comply by paying the city a one-time registration fee of — MARCH 2018 —
$5,000 and a licensing fee of $1 for each night that is booked on their platform.
Homelife WENSING
March 2018 MARContemporary WHT
The City Square Condos Report March 2018
SILVER
March 2018
It can be confusing when the terms “exclusive use” Just as with common elements, executive board
Contemporary BLK
and “common elements” are fused together. After members and maintenance workers still have access
all, aren’t common elements available for use by all to exclusive-use common elements in order to March 2018
owners in a building? Technically they are. Common conduct routine inspections and repairs. The board
elements refer to the parts of a condominium also has the authority to determine how these areas Crigger
building that belong to all owners, such as lobbies, are to be used and how they should look.
recreational rooms, swimming pools, parking garages, MARCH 2018
and hallways. When the words “exclusive use” or You can find out what parts of your building are
“limited” are used to describe common elements, this common elements and what are exclusive-use CLASSIC
is referring to the parts of a building that are restricted common elements in your condo’s declaration.
to specific owners, such as balconies, private elevators,
and parking areas designated for certain units. MARCH 2018
PRO: They have more space SmithPRO: Maintenance fees have stabilized
Unit sizes have gone down as urban It’s true that older buildings generally have
March 2018
THE PROS AND CONS OF developers try to squeeze as many units
in the sky as possible. That means that if
you’re looking for an affordable condo
higher monthly maintenance fees than
SIGNATURE
new condos, butWHT
property managers of
older builds have a better sense of how
MOVING INTO AN OLDER CONDO over 1,000 square feet, your best bet is to
look into older buildings. They tend to be
much to budget for maintenance and
—and
repairs, MARCH
they likely 2018 — cushion
have a good
built with more spacious bedrooms while (reserve fund) saved up for emergencies.
AYOUBI
Thanks to the rapid expansion of condo developments shared areas like the kitchen, living room This means that there will be no surprise
in hot urban markets like Toronto and Vancouver, and dining room tend to be better defined. fee hikes when you live in an older unit,
there’s no shortage of brand new units to choose March 2018fees in newer buildings will be
whereas
from. With their sleek finishes and modern appliances, CON: They may be outdated less predictable.
it’s easy to see why one might forget to explore Units that haven’t been upgraded in the Stevenson
buildings that are more than 15 years old. Sure, older past five years could be in need of a major CON: They may be less energy efficient
condos may have some wear and tear but they could facelift. This means you may have to foot
the bill for brand new appliances, cabinets,
March 2018
Older condos may not be as green as
newer ones even with updated building
just as easily suit your lifestyle as a newer build. If
you’re thinking about moving into an older condo, backsplashes, countertops, flooring, codes. They may still be relying on energy-
consider these pros and cons. lighting, hardware and more. While you’ll draining appliances. There could also be
enjoy an increase in your condo’s value air leaks around windows and doors that
when it comes time to sell, you may have would drive up your energy bills. When
to make a hefty investment upfront. Older MURPHY/BORYS
shopping around, look into whether
buildings also typically have lower ceiling these buildings have been retrofitted for
heights, which is an issue that simply can’t sustainability.
be addressed after the fact.
www.CitySquare-Condos.info for the rest of your newsletter...
PRICELESS QUOTES
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Steve Roblin BENDERA
Sales Representative
population believes that professional wrestling is real but the moon March 2018
landing was faked.” – David Letterman 905-522-3300
“To err is human, to forgive, canine.” – Anonymous roblin@judymarsales.com
www.SteveRoblin.com
“I don’t own any of my own paintings because a Picasso original costs Homelife
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“You can always tell a good politician by the way he answers. He
makes you forget the question.” – Anonymous March 2018
MARCH 20
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