Real Estate

Toronto Downtown Bachelor Condo

  • Last Updated:
  • Jun 19th, 2017 2:53 am
Member
Jun 15, 2017
298 posts
129 upvotes

Toronto Downtown Bachelor Condo

Are these condos aimed for only Investors?
Will any end users buy for themselves?

In core downtown near subway, financial/entertainment/discovery/garden.

Now 1 bedrooms in these areas start from high 400s

Only bachelor units are available in low/mid 300s

There is a price gap of 150k minimum between these 2
10 replies
Deal Expert
Feb 22, 2011
16504 posts
21843 upvotes
Toronto
Personally I think it is the opposite. I think most are purchased as cheap places to live. They aren't great for investors because they are harder to sell, appreciate less and rent for much less as well.
Deal Addict
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Dec 13, 2016
4527 posts
4056 upvotes
A lot of single guys with good jobs in Toronto. It's a really sad place to live. Last year these studios were selling between 230-250k. At $1000 per square foot they are ridiculously overpriced and you are likely to get 4th or 5th floor.

I lived in a studio once in Montreal. It cost me a divorce.

Buy for investment only because of the above.
Member
Jun 15, 2017
298 posts
129 upvotes
BiegeToyota wrote: A lot of single guys with good jobs in Toronto. It's a really sad place to live. Last year these studios were selling between 230-250k. At $1000 per square foot they are ridiculously overpriced and you are likely to get 4th or 5th floor.

I lived in a studio once in Montreal. It cost me a divorce.

Buy for investment only because of the above.
The one i am looking at is at yonge/king, was sold for 240 ish and selling for lower 300 now.

Rent seems to be covering, but my point is, would any enduser buy this?
Member
Jun 15, 2017
298 posts
129 upvotes
BiegeToyota wrote: A lot of single guys with good jobs in Toronto. It's a really sad place to live. Last year these studios were selling between 230-250k. At $1000 per square foot they are ridiculously overpriced and you are likely to get 4th or 5th floor.

I lived in a studio once in Montreal. It cost me a divorce.

Buy for investment only because of the above.
The one i am looking at is at yonge/king, was sold for 240 ish and selling for lower 300 now.

Rent seems to be covering, but my point is, would any enduser buy this?
Sr. Member
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Jan 21, 2017
988 posts
339 upvotes
Friend has a studio. Works out perfect. Most young people don't just stay home. They only come home for a place to sleep. So size is fine
Deal Addict
Sep 20, 2014
1637 posts
852 upvotes
Toronto, ON, CA
DPR2017 wrote: Friend has a studio. Works out perfect. Most young people don't just stay home. They only come home for a place to sleep. So size is fine
Sure, but even as someone in the target market for this - I'd plan on having friends over, how do you entertain in a Bachelor?
Also, let's say you had an overnight guest (friend/family) - wouldn't you want a living room for them to crash?
Also, let's say you decide to get married and/or have a kid - I'm certain a 1BR is more than enough. You future-proof yourself with the 1BR as opposed to a Bachelor.

Honestly, a Bachelor is a way to prop up the price of a 1BR - if they didn't make Bachelors, 1BRs would be the "entry-level price".
It's definitely annoying.
Deal Expert
User avatar
May 22, 2005
21223 posts
6989 upvotes
GTA
Two friends have bachelor condos downtown, both work in financial district. Like mentioned above, most of them are only at home to sleep, so other then the necessities, the pad is just a storage place and a place to recharge.


And you don't have friends over (unless they're a certain kind), you go to a bar, restaurant, diner, etc. And if you have a guest or family, well, they should know that you have a small place and that you're not a charity. Many downtown condos have rental suites for short term stays, while its barely cheaper then hotels/AirBNB downtown Toronto, its an option.

I'd imagine that these bachelors space is usually seen as a temporary home too, while working the big bucks downtown, and rent it out after a few years.
Deal Fanatic
Mar 15, 2005
6022 posts
1868 upvotes
Lavaris wrote: The one i am looking at is at yonge/king, was sold for 240 ish and selling for lower 300 now.

Rent seems to be covering, but my point is, would any enduser buy this?
Lots of "cheap" condos in the financial core, what are the maintenance fees though? I am guessing around $800-$1000/month....
Member
Jun 15, 2017
298 posts
129 upvotes
Ziggy007 wrote: Lots of "cheap" condos in the financial core, what are the maintenance fees though? I am guessing around $800-$1000/month....
Brand New, $200 monthly maintenance fee approx
Sr. Member
User avatar
Jan 21, 2017
988 posts
339 upvotes
2009M5 wrote: Sure, but even as someone in the target market for this - I'd plan on having friends over, how do you entertain in a Bachelor?
Also, let's say you had an overnight guest (friend/family) - wouldn't you want a living room for them to crash?
Also, let's say you decide to get married and/or have a kid - I'm certain a 1BR is more than enough. You future-proof yourself with the 1BR as opposed to a Bachelor.

Honestly, a Bachelor is a way to prop up the price of a 1BR - if they didn't make Bachelors, 1BRs would be the "entry-level price".
It's definitely annoying.
Guest over : condo party rooms. Beauty is, you pay the least amount of condo fee yet still have access to the same amenities

Sleep over : not an option.

Future proof : bachelor even one bedroom aren't future proof. (if you are talking kids) At least one plus done. Bachelor is what it is, for bachelor's lol.

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