Real Estate

Festival Condos Vaughan - where’s the hype?

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  • Oct 17th, 2020 9:29 pm
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7thEye wrote: Do you really think this is worth it for vaughan vs similar in PC?
Let’s put it this way. Real estate, like stocks is a type of investment where people can invest in two different things, and despite disagreeing with each other, both can be right, and both can be wrong.

My preference is to Festival, and based on your posts, yours is towards Brightwater.

As much as I like the Brightwater project overall, to me buying the current buildings is buying a low end 2nd grade product just for the name.

Where as with Festival, I know the buildings I’m getting into are the projects poster child and prices will continue to increase etc.
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deal_with_singh wrote: Let’s put it this way. Real estate, like stocks is a type of investment where people can invest in two different things, and despite disagreeing with each other, both can be right, and both can be wrong.

My preference is to Festival, and based on your posts, yours is towards Brightwater.

As much as I like the Brightwater project overall, to me buying the current buildings is buying a low end 2nd grade product just for the name.

Where as with Festival, I know the buildings I’m getting into are the projects poster child and prices will continue to increase etc.
The Brightwater Condos 1 and 2 look awful. Compare it to any other condo building and it is pretty objective that they are ugly.

As for the area, sure it is good. But, you are far from the GO or any other transit, and you aren't buying those iconic condos by the beach, so I don't know what there is to brag about buying Brightwater at this point. And I highly doubt you will be able to flip them at 1200-1300 a foot, when there is nothing special about them. The condo market is awful right now so I don't know where these flippers are coming up with these future prices for them...
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CondoMan98 wrote: The Brightwater Condos 1 and 2 look awful. Compare it to any other condo building and it is pretty objective that they are ugly.

As for the area, sure it is good. But, you are far from the GO or any other transit, and you aren't buying those iconic condos by the beach, so I don't know what there is to brag about buying Brightwater at this point. And I highly doubt you will be able to flip them at 1200-1300 a foot, when there is nothing special about them. The condo market is awful right now so I don't know where these flippers are coming up with these future prices for them...
Nailed it.
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deal_with_singh wrote:
Nailed it.
I look at it from an investment standpoint. Yes, Port Credit is nice, but it is still Mississauaga and for this price and product, I don’t like it. I’d take Daniels project (really great price) over Brightwater 1 and 2. I can’t imagine the congestion on Lakeshore in 10 years....and you are NOT steps to the GO. At least 20 minutes, probably more.

VMC is not my favourite area, but the way prices are going, Festival was a good buy given the price and product. If I had no precons, I’d have gone for Daniels Square one or Festival, as downtown is unaffordable, and those two projects have good product and price points.

The Brightwater-lovers can come at me, but I see what I see. These are the ugliest precon buildings I’ve seen. Not impressed. Look at the Galleria condos buildings (another masterplanned community) and all of the buildings are beautiful. Don’t fall for hype or you will end up like the guys who overpaid for No. 31 Face With Tears Of Joy (another Outrageously expensive project I was highly critical of).
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CondoMan98 wrote: I look at it from an investment standpoint. Yes, Port Credit is nice, but it is still Mississauaga and for this price and product, I don’t like it. I’d take Daniels project (really great price) over Brightwater 1 and 2. I can’t imagine the congestion on Lakeshore in 10 years....and you are NOT steps to the GO. At least 20 minutes, probably more.

VMC is not my favourite area, but the way prices are going, Festival was a good buy given the price and product. If I had no precons, I’d have gone for Daniels Square one or Festival, as downtown is unaffordable, and those two projects have good product and price points.

The Brightwater-lovers can come at me, but I see what I see. These are the ugliest precon buildings I’ve seen. Not impressed. Look at the Galleria condos buildings (another masterplanned community) and all of the buildings are beautiful. Don’t fall for hype or you will end up like the guys who overpaid for No. 31 Face With Tears Of Joy (another Outrageously expensive project I was highly critical of).
I feel bad for the No. 31 buyers, that was just bad...
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North Tower "Official Pricelist" Just came out
Screen Shot 2020-09-19 at 10.02.08 AM.png
.

To give you guys an example of the price increase...Chicago 678 - I sold a unit in the 30's (for privacy reasons I'll say floor 30-40)....Price was in the 660's. factor in the floor premium and you're looking at $630's.....The unit in the "official list" is $676,990!

Vancouver 698 I sold and base price before floor premium were $680k and today its $720k.

Also Sold a Toronto 596 and base price was $580k today its $619k...

So much for the $10-20k price hike...its now $40k
Last edited by deal_with_singh on Sep 19th, 2020 11:33 am, edited 3 times in total.
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Aluxku wrote: Just signed a 2B1W + Parking in the north building.
Hope this is a good investment...lol

Question.
I've noticed from the floorplans that the building is not facing directly N/E/S/W...
if my unit is a north/east corner, how much sunlight would be entering this unit?

Thanks!
deal_with_singh wrote: Congrats on the purchase! You’ll get sun rise up till about afternoon.
@Aluxku - I'm sure you can vouch to the price increase comment above ;) (Not my client! But remembered he purchased Chicago based on his post!)
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What do you think the price premium is for North tower, I got Berlin 699sf in South Tower.
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techVcondo wrote: What do you think the price premium is for North tower, I got Berlin 699sf in South Tower.
I didn't sell any Berlins in South Tower so not sure what the base price was on those, you can feel free to PM me the details if you don't want to post them, and I can give you an idea as a comparison
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deal_with_singh wrote: @Aluxku - I'm sure you can vouch to the price increase comment above ;) (Not my client! But remembered he purchased Chicago based on his post!)
Purchased 50+ floor and the price is basically same as the new increased base price. Cheers!
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Aluxku wrote: Purchased 50+ floor and the price is basically same as the new increased base price. Cheers!
Congrats to you and everyone else who got in on the Platinum prices!

I'm told the current allocation that's still available is not subject to the price increase, so if anyones waiting on the sidelines you still have a chance (though not much available!)!
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deal_with_singh wrote: @Aluxku - I'm sure you can vouch to the price increase comment above ;) (Not my client! But remembered he purchased Chicago based on his post!)
deal_with_singh wrote: North Tower "Official Pricelist" Just came out

Screen Shot 2020-09-19 at 10.02.08 AM.png.

To give you guys an example of the price increase...Chicago 678 - I sold a unit in the 30's (for privacy reasons I'll say floor 30-40)....Price was in the 660's. factor in the floor premium and you're looking at $630's.....The unit in the "official list" is $676,990!

Vancouver 698 I sold and base price before floor premium were $680k and today its $720k.

Also Sold a Toronto 596 and base price was $580k today its $619k...

So much for the $10-20k price hike...its now $40k
Holy...40k increase in base prices is crazy. Thanks for the update
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deal_with_singh wrote: North Tower "Official Pricelist" Just came out
Screen Shot 2020-09-19 at 10.02.08 AM.png
.

To give you guys an example of the price increase...Chicago 678 - I sold a unit in the 30's (for privacy reasons I'll say floor 30-40)....Price was in the 660's. factor in the floor premium and you're looking at $630's.....The unit in the "official list" is $676,990!

Vancouver 698 I sold and base price before floor premium were $680k and today its $720k.

Also Sold a Toronto 596 and base price was $580k today its $619k...

So much for the $10-20k price hike...its now $40k
Wowww...almost $800K for a 2bed/2 bath and parking. This project makes me feel good about the condo market.
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Newuserid wrote: Wowww...almost $800K for a 2bed/2 bath and parking. This project makes me feel good about the condo market.
Like I said at the very beginning, people thought this was expensive, but they refused to see this project for what it is and brushed it off as "just another condo".

I'm personally very curious to see how the rest of the project sells after the price hike...
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