GTA pre-con condos for investment

mazerbeaner wrote: ↑ Doesn't seem like there is much inventory coming down the pipeline.

JayLove06 wrote: ↑ Builders pulling back. Exactly what some have said. They aren't going to build if the return is not the same or better than previously. They will manipulate the numbers by holding back. That's why those who think precon is going to tank have their hands in the sand. The beauty about precon is if you don't see the returns you want, just don't build. Already started building? Delay or cancel the project.

CondoMan98 wrote: ↑ Yup. Nothing that exciting. It’s been a ton of Mississauga and Oakville condos so far...

CondoMan98 wrote: ↑ Yup. Nothing that exciting. It’s been a ton of Mississauga and Oakville condos so far...

tczernec wrote: ↑ I'm looking forward to see what pricing is like on Golden Mile. Sheppard between Vic Park and Warden was in the 700's psf (incl parking) before covid..

CondoMan98 wrote: ↑ I don’t think we will be seeing 700s psqf again. I’m fairly certain of that. Even 800s will disappear soon.

JayLove06 wrote: ↑ If we do I think we'll have way bigger things to worry about. You still have to buy materials and pay labourers. Those $$ are not going down.

CondoMan98 wrote: ↑ I don’t think you can build profitably at those prices. Sure there were condos in the past two years that were sold there. But even suburb condos are in the 900s per foot now. And if it’s too cheap, it probably gets cancelled. I look at every new precon launch and the cheapest I’ve seen this year was 800s in Oakville, and the latter part of the year Oakville projects were even in the 900s. I am having trouble thinking of anything in the 700s.

mazerbeaner wrote: ↑ Toronto pinnacle east is 738 a sq ft and still selling on the last tower I believe. A lot of people will rule it out because it's Scarborough but I bought there because;

Pinnacle is a good builder, they have never cancelled a project.

I think warden and Sheppard has potential, especially if they extend the Sheppard line one day. It's also right by DVP/401.

It's affordable, 738 a sq ft for a new build is a decent price.

No rent control, like all precon now.

They had smaller units in the first two towers so prices started in the mid 300s.

Also I find units in Scarborough tend to have better cash flow, I might even break even on this unit from day 1.

Scarborough has also appreciated more in the last 5 years with many buildings being 100% higher which most downtown might be up 70%, I think this could continue as people get priced out of other areas.

I actually am still kicking myself for not buying more in 2014. I was looking at some 2 bed condo towns on the ground floor for like $130k and now they are $400k... in 6 years.

mazerbeaner wrote: ↑ Toronto pinnacle east is 738 a sq ft and still selling on the last tower I believe. A lot of people will rule it out because it's Scarborough but I bought there because;

Pinnacle is a good builder, they have never cancelled a project.

I think warden and Sheppard has potential, especially if they extend the Sheppard line one day. It's also right by DVP/401.

It's affordable, 738 a sq ft for a new build is a decent price.

No rent control, like all precon now.

They had smaller units in the first two towers so prices started in the mid 300s.

Also I find units in Scarborough tend to have better cash flow, I might even break even on this unit from day 1.

Scarborough has also appreciated more in the last 5 years with many buildings being 100% higher which most downtown might be up 70%, I think this could continue as people get priced out of other areas.

I actually am still kicking myself for not buying more in 2014. I was looking at some 2 bed condo towns on the ground floor for like $130k and now they are $400k... in 6 years.

mazerbeaner wrote: ↑ Toronto pinnacle east is 738 a sq ft and still selling on the last tower I believe. A lot of people will rule it out because it's Scarborough but I bought there because;

Pinnacle is a good builder, they have never cancelled a project.

I think warden and Sheppard has potential, especially if they extend the Sheppard line one day. It's also right by DVP/401.

It's affordable, 738 a sq ft for a new build is a decent price.

No rent control, like all precon now.

They had smaller units in the first two towers so prices started in the mid 300s.

Also I find units in Scarborough tend to have better cash flow, I might even break even on this unit from day 1.

Scarborough has also appreciated more in the last 5 years with many buildings being 100% higher which most downtown might be up 70%, I think this could continue as people get priced out of other areas.

I actually am still kicking myself for not buying more in 2014. I was looking at some 2 bed condo towns on the ground floor for like $130k and now they are $400k... in 6 years.

CondoMan98 wrote: ↑ Are you sure they still have inventory? Because if so, I will buy.

mazerbeaner wrote: ↑ I think so based on buzzbuzz. They had two tall towers they sold our first and now they are selling the podium which is all larger units, even the 1 beds are quite large.

I wanted the other pinnacle project at 1 Yonge until I saw the price list.