Real Estate

80-Story Aura Condo @ Yonge/Gerrard could be out of water for at least 7 weeks.

  • Last Updated:
  • Jan 29th, 2020 12:52 pm
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Oct 26, 2003
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Winnipeg
The city would not pay for anything inside a building, that is privately owned, the city is only responsible to bring the service lines to the property.
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Jan 27, 2004
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ONTARIO
arbytor wrote: lessons learned from these posts from investors is after 10 years those flashy condos have no market. It sounds like 80 story garbage coming to market in 10 years waiting for recyclers.

Youre in for a surprise. These problems sound alarming... but there are tons of condos and apartment buildings that are nearly a 100 years old and they aren't falling apart.
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Nov 5, 2018
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Toronto
UrbanPoet wrote: Youre in for a surprise. These problems sound alarming... but there are tons of condos and apartment buildings that are nearly a 100 years old and they aren't falling apart.
They don't make them like that anymore. City Place was built like crap...can't imagine those buildings lasting 100 years lol.
Called the bottom.
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Jan 17, 2006
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Toronto
CondoMan98 wrote: They don't make them like that anymore. City Place was built like crap...can't imagine those buildings lasting 100 years lol.
Even cityplace is 20 year old already and keep going.
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Aug 2, 2010
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Here 'n There
UrbanPoet wrote: Youre in for a surprise. These problems sound alarming... but there are tons of condos and apartment buildings that are nearly a 100 years old and they aren't falling apart.
Apples and oranges. He's referring to ones built recently not 100yo ones.

As that goes I don't know of any high rise 100yo condo's.
Newbie
Nov 17, 2007
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Toronto
Quality of construction in GTA is Horrific with a capital "H".
Shithole 300 sq feet condos built by bums who are hired by development/construction companies.

Do not buy pre-con. Never Ever!
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Jan 17, 2006
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blade8079 wrote: Quality of construction in GTA is Horrific with a capital "H".
Shithole 300 sq feet condos built by bums who are hired by development/construction companies.

Do not buy pre-con. Never Ever!
People will always buy pre-cons, some people prefer new homes. Choosing a good developer is a different story.
If demand falls, builders will adjust thier prices and still sell their inventory.
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Dec 4, 2016
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ilim wrote: Water is back as posted above, but people ignore it and keep screaming how bad those new buildings are.
I have all condos dt newer than 3 years.
Zero issues for now (knock on the wood).
Yes I will sell them as they approach 10 yo as I dont want to deal with older buildings.
Good luck with special assessments in your old building s.
If that's the mentality of all new condo buyers, I'm actually worried. 10 years of rent is not enough to pay off the initial purchase cost of new Toronto condos, so someone has to buy that 10 year old condo for the investors of new condos to break even. If you care about the value of your new condo, you would hope older condos continue to be relatively trouble free.

Here's one condo built in 1971 with $500 condo fee, heat, hydro, and water included:
https://www.realtor.ca/real-estate/2148 ... a-bayshore

Half a century old. Still worth something, but in a not so great neighborhood.
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Jan 17, 2006
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BlueSolstice wrote: If that's the mentality of all new condo buyers, I'm actually worried. 10 years of rent is not enough to pay off the initial purchase cost of new Toronto condos, so someone has to buy that 10 year old condo for the investors of new condos to break even. If you care about the value of your new condo, you would hope older condos continue to be relatively trouble free.

Here's one condo built in 1971 with $500 condo fee, heat, hydro, and water included:
https://www.realtor.ca/real-estate/2148 ... a-bayshore

Half a century old. Still worth something, but in a not so great neighborhood.
That is my mentality, usually fastest appreciation happening in first 5-10 years in my experience.
There is always people who will buy older condos so me and them are in harmony, you are free to buy as old condos as you want.
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Nov 5, 2018
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blade8079 wrote: Quality of construction in GTA is Horrific with a capital "H".
Shithole 300 sq feet condos built by bums who are hired by development/construction companies.

Do not buy pre-con. Never Ever!
I agree they are built like s**t, but demand > supply, so I suspect prices continue to move higher until we reach an equilibrium.

Like others have pointed out, do not hold longer than 10-12 years ;)
Called the bottom.
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Dec 4, 2016
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CondoMan98 wrote: I agree they are built like s**t, but demand > supply, so I suspect prices continue to move higher until we reach an equilibrium.

Like others have pointed out, do not hold longer than 10-12 years ;)
For what it's worth, people has been screaming about the terrible build quality of Vancouver condos for about two decades, around the time of Yaletown Park phase 1. A decade and half later, the condos are still standing. A few have run into trouble, but most seem to be worth something.

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