So I bought a new condo. That is, in 2004 I signed a bunch of paperwork and wrote 4 cheques and they said they'd have it done in 2 years. We're now at 3 1/2 years and the occupancy date keeps changing. You'd think I'd be pissed off, but I'm not. Why?
Because when I bought, the price was $325/sq foot. The development company held back several units, and the price for them is now $422/sq foot. This is before upgrades, no parking spot or storage locker.
I have to wonder though, what the limit is on condo pricing- prices can't keep going up 10% a year indefinitely...can they?
After occupancy I'll need a mortgage - anyone got a good broker and real estate lawyer?
Because when I bought, the price was $325/sq foot. The development company held back several units, and the price for them is now $422/sq foot. This is before upgrades, no parking spot or storage locker.
I have to wonder though, what the limit is on condo pricing- prices can't keep going up 10% a year indefinitely...can they?
After occupancy I'll need a mortgage - anyone got a good broker and real estate lawyer?
