Real Estate

Condos View Obstructed in 2022

  • Last Updated:
  • Jul 5th, 2021 11:10 am
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[OP]
Newbie
Apr 11, 2021
25 posts
5 upvotes

Condos View Obstructed in 2022

Hi,

I'm a new home buyer and just a 20th floor condo facing west in Yonge and Sheppard.
My view currently is possible to see Yonge Street but there is a development that is going to be completed in 2022 and will block my view of the street. Does this affect my re-sale value?
14 replies
Deal Addict
Feb 19, 2019
1410 posts
2044 upvotes
Stouffville ON
Yes it will.
To what degree it will depend how close it is to your building how it affects the view and how it affects the daylight coming through, a building that is very close can turn your unit from bright and sunny to needing artificial light at all times.
Full Time and Full Service Realtor
[OP]
Newbie
Apr 11, 2021
25 posts
5 upvotes
Biggest decision of my life so far and I feel like I might have done a terrible deal.
My condo's name is Pearl Condos and there is another condo in Yonge street called Pearl 2 coming up.
My view is not the best right now and it will get even more obstructed because of Pearl 2.
Newbie
Sep 5, 2019
39 posts
68 upvotes
Relax… a meh view becoming a little more meh isn’t a big impact on the price.
Deal Addict
Dec 29, 2012
1721 posts
1465 upvotes
Toronto
Just wondering, why did you buy when you knew there would be a new condo coming up?
[OP]
Newbie
Apr 11, 2021
25 posts
5 upvotes
I guess with all the biddings and current situation, I got a little irrational there =(
The unit is great, size is 2 +1 den and the maintenance fees are lower than the other condos.
I knew about the view all along but got a little carried away...
Deal Addict
User avatar
Mar 30, 2010
3370 posts
1330 upvotes
Greater Toronto Area
Yes it does impact your resale value, but if you're selling after 5 years then I doubt you'd lose money on it.

You'll likely still gain but perhaps slightly less than you would have if you had an unobstructed view.
<removed>
Deal Addict
Dec 29, 2012
1721 posts
1465 upvotes
Toronto
I don't think it'll be that big a deal. Your condo is already pretty far from where the new condo will be. It'll be much worse for the Platinum buildings that are between you and the new building
[OP]
Newbie
Apr 11, 2021
25 posts
5 upvotes
That was what I was thinking but I'm right between the platinum buildings. Hopefully it doesn't look that bad once all is complete.
For now, it is not bothering me and I will stay at least 5-7 years here. Hopefully I can at least not lose money.
Sr. Member
May 3, 2013
684 posts
279 upvotes
Toronto
What's worse than the view of a building is the construction of a building. The noise and dust, definitely something to consider.
Sr. Member
Nov 28, 2016
620 posts
705 upvotes
Can you buy a unit in the new building and move there, if the view isn't blocked there?
Jr. Member
Nov 8, 2006
136 posts
42 upvotes
Toronto
Yes, it will impact the resale value in isolation. However, new developments nearby (developed at higher building costs) also benefit your resale value. Combined with natural appreciation over time, and the net impact to you will likely be negligible. Now if you had a speculator waterfront view before and something happened to come up to block that then that would be a completely different story.
[OP]
Newbie
Apr 11, 2021
25 posts
5 upvotes
The new units at Pearl 2 are all over 1 million plus the extra costs of a new unit. I can get nowhere near that amount unfortunately.
It is crazy expensive!!

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