Real Estate

Festival Condos Vaughan - where’s the hype?

  • Last Updated:
  • Oct 17th, 2020 9:29 pm
Member
Jan 5, 2020
491 posts
527 upvotes
deal_with_singh wrote: From what I know, the higher and lower floors have largely been sold (Not including Pent house), and whats left is the middle. This is based on the units I've seen going as high as 61st floor and as low as 6th floor (I believe the floors that are being skipped in this building are 4, 13, 14, 24, 34, 44, 54

You're correct, again details aren't clear on which floor it started from but I've heard the same that it was floor above 40, and yes no additional premium based on the units I've sold and even my own > 40th floor unit haha.
Why are the low floors so popular? I would think the lower floors would be the last to sell.
Sr. Member
Jun 6, 2009
514 posts
81 upvotes
Newuserid wrote: Why are the low floors so popular? I would think the lower floors would be the last to sell.
When each floor premium is 1k per floor, some investors may prefer the lower priced units on the lower floor because rent may not reflect the premium you pay for higher floors
Deal Fanatic
User avatar
Oct 16, 2008
7677 posts
2460 upvotes
Maple
Newuserid wrote: Why are the low floors so popular? I would think the lower floors would be the last to sell.
Safety
Cheaper
More convenient

I had lived in a penthouse before. I sold it because fire drills, I had to walk down many many stairs, imagine of real fire. Each higher floor goes up, there is premium ($1k at least). Long wait of elevator for going down. The only good thing of living high is the view at night or nice day. View is amazing.
Member
Jan 5, 2020
491 posts
527 upvotes
cleardevil wrote: When each floor premium is 1k per floor, some investors may prefer the lower priced units on the lower floor because rent may not reflect the premium you pay for higher floors
teoconca wrote: Safety
Cheaper
More convenient

I had lived in a penthouse before. I sold it because fire drills, I had to walk down many many stairs, imagine of real fire. Each higher floor goes up, there is premium ($1k at least). Long wait of elevator for going down. The only good thing of living high is the view at night or nice day. View is amazing.
I actually thought that the middle floors would be the most popular. If I'm buying precon, I think I would pay an extra $10K to be a few floors high.
Deal Expert
User avatar
Feb 11, 2009
17433 posts
4278 upvotes
Toronto
Newuserid wrote: Why are the low floors so popular? I would think the lower floors would be the last to sell.
The middle floors were the most popular, but most of those were what were held back. Limited floors between 20-40 were released (this is where they're saving their ~30% block of units that they didn't allocate).

The low floors went fast due to the floor premiums...its more attractive to get a 1 bed cheapest unit on the lowest floor, on higher priced units it makes less of a difference (i.e. 1+D or 2B) where the per floor cost becomes "worth it"
Real Estate Agent, MAcc, CPA, CA
Deal Addict
Dec 29, 2012
1181 posts
889 upvotes
Toronto
teoconca wrote: I had lived in a penthouse before. I sold it because fire drills, I had to walk down many many stairs, imagine of real fire. Each higher floor goes up, there is premium ($1k at least). Long wait of elevator for going down. The only good thing of living high is the view at night or nice day. View is amazing.
Are fire drills mandatory in condos? I've lived in one for 5 years and we've never had a drill. We have monthly fire alarm testing but we've never actually had to evacuate
Deal Addict
Dec 20, 2018
3656 posts
2897 upvotes
yesnomaybe wrote: Are fire drills mandatory in condos? I've lived in one for 5 years and we've never had a drill. We have monthly fire alarm testing but we've never actually had to evacuate
Fire drills are new requirement from fire code amendment u believe and is yearly for residents and quarterly for staff. but you don't actually have to go down, very few actually do
Deal Fanatic
User avatar
Oct 16, 2008
7677 posts
2460 upvotes
Maple
StatsGuy wrote: Fire drills are new requirement from fire code amendment u believe and is yearly for residents and quarterly for staff. but you don't actually have to go down, very few actually do
Bought it as precon, it had to test to pass FD, I had 2 drills, sold it as my wife was expecting 1st kid. I lived there 2 years.
Deal Expert
User avatar
Feb 11, 2009
17433 posts
4278 upvotes
Toronto
Todays release are "re-releases" from cancelled deals from the south tower...largely very low floors. No price increases on these or floor premium for that matter.

Still waiting for a "new allocation"
Real Estate Agent, MAcc, CPA, CA
Deal Expert
User avatar
Feb 11, 2009
17433 posts
4278 upvotes
Toronto
And....North Tower units just came in, prices up quite a bit, from the looks of it around $30/sqft more...part of it could just be the north tower premium.
Real Estate Agent, MAcc, CPA, CA
Member
Dec 18, 2006
420 posts
424 upvotes
Hello, reading your posts above, you mentioned the higher floors have 9 ft ceiling height. Do you think it’s worth it to pay a premium for it?
Deal Expert
May 30, 2005
44405 posts
4983 upvotes
Richmond Hill
deal_with_singh wrote: And....North Tower units just came in, prices up quite a bit, from the looks of it around $30/sqft more...part of it could just be the north tower premium.
Everything over 1K?
Artisan woodworker crafting live edge tables, end grain cutting boards, and other home decor
Silver Coins | Philips Wake-Up Light with Radio | Heatware
Sr. Member
Jul 20, 2003
528 posts
41 upvotes
Do you really think this is worth it for vaughan vs similar in PC?

Top

Thread Information

There are currently 2 users viewing this thread. (0 members and 2 guests)