My issue is more that prices are as if we are roughly 5 years in the future. i.e there's basically no growth.Newuserid wrote: ↑ The issue here is the cost of transit. In the city of Toronto, you can just buy a monthly Metropass that will take you everywhere. At the VMC, your gonna need to utilize VIVA or Zum for your local travel to the grocery store.
Also, as of right now, there really is no nearby amenities other than Ikea and Walmart with the latter soon to he moved. If you need to take the bus, it doesn't count as an amenity in the neighborhood. Additionally, even after you get off from the bus, a lot of the amenties requires at least a 5 minute walk. This might not seem like a big deal, but imagine having to do this in February with groceries on hand.
I have a friend that lives at the VMC and he has told me that the parking situation is really bad. They recently started metering all of the surface parking lots that used to be free. A lot of the condo residents were using these free parking lots but now they have to find underground parking. There is a huge shortage of parking spaces right now and a lot of this is because most people still drive here. I imagine the parking situation to get even worse.
I think buyers need to understand the risks of this neighbourhood. Its easy to fantasize about the neighbouhood potential based on the master plan and the future artist renderings but buyers need to understand that this area will look nothing like that in the short term (next 5 years). At the end of the day, real estate is all about LOCATION. The location of the VMC in the overall GTA is not great.
Make more $ getting some discounted properties downtown, or a townhouse outside/outskirts of the GTA