Condos View Obstructed in 2022

Jul 2nd, 2021 1:26 pm

#1

Amazonboy [OP]: Newbie; Apr 11, 2021; 25 posts; 13 upvotes

Jul 2nd, 2021 1:26 pm

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?

Jul 2nd, 2021 2:07 pm

#2

saiz66: Jr. Member; Dec 10, 2006; 120 posts; 49 upvotes; Thornhill

Jul 2nd, 2021 2:07 pm

Yes it would.

+1

Jul 2nd, 2021 2:30 pm

#3

senasena: Deal Addict; Feb 19, 2019; 1819 posts; 2800 upvotes; Stouffville ON

Jul 2nd, 2021 2:30 pm

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

+2

Jul 2nd, 2021 2:54 pm

#4

Amazonboy [OP]: Newbie; Apr 11, 2021; 25 posts; 13 upvotes

Jul 2nd, 2021 2:54 pm

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.

Jul 2nd, 2021 2:59 pm

#5

barkwark: Newbie; Sep 5, 2019; 40 posts; 68 upvotes

Jul 2nd, 2021 2:59 pm

Relax… a meh view becoming a little more meh isn’t a big impact on the price.

+1

Jul 2nd, 2021 3:02 pm

#6

yesnomaybe: Deal Addict; Dec 29, 2012; 2133 posts; 2211 upvotes; Toronto

Jul 2nd, 2021 3:02 pm

Just wondering, why did you buy when you knew there would be a new condo coming up?

+1

Jul 2nd, 2021 3:14 pm

#7

Amazonboy [OP]: Newbie; Apr 11, 2021; 25 posts; 13 upvotes

Jul 2nd, 2021 3:14 pm

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...

Jul 2nd, 2021 3:17 pm

#8

Furcorn: Deal Addict; Jun 7, 2017; 1043 posts; 834 upvotes; BC

Jul 2nd, 2021 3:17 pm

Yes.

+1

Jul 2nd, 2021 3:21 pm

#9

dc200: Deal Addict; Mar 30, 2010; 3621 posts; 1939 upvotes; Greater Toronto Area

Jul 2nd, 2021 3:21 pm

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.

RichmondCA wrote: ↑ Leading indicator on bear market, when you see this avatar start popping up in this thread

+2

Jul 2nd, 2021 4:00 pm

#10

yesnomaybe: Deal Addict; Dec 29, 2012; 2133 posts; 2211 upvotes; Toronto

Jul 2nd, 2021 4:00 pm

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

+1

Jul 2nd, 2021 4:20 pm

#11

Amazonboy [OP]: Newbie; Apr 11, 2021; 25 posts; 13 upvotes

Jul 2nd, 2021 4:20 pm

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.

Jul 2nd, 2021 5:33 pm

#12

realtorhome: Sr. Member; May 3, 2013; 748 posts; 447 upvotes; Toronto

Jul 2nd, 2021 5:33 pm

What's worse than the view of a building is the construction of a building. The noise and dust, definitely something to consider.

Jul 2nd, 2021 6:25 pm

#13

devmaster8: Sr. Member; Nov 28, 2016; 813 posts; 1001 upvotes

Jul 2nd, 2021 6:25 pm

Can you buy a unit in the new building and move there, if the view isn't blocked there?

Jul 2nd, 2021 10:20 pm

#14

saigonv: Jr. Member; Nov 8, 2006; 141 posts; 47 upvotes; Toronto

Jul 2nd, 2021 10:20 pm

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.

+1

Jul 5th, 2021 11:10 am

#15

Amazonboy [OP]: Newbie; Apr 11, 2021; 25 posts; 13 upvotes

Jul 5th, 2021 11:10 am

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!!