Condo Prices

[Scarbarian]

How can people sell condos that are 5, sometimes 10 years old at such crazy prices considering how there are so many uninhabited units in the city and new units being built all over the GTA everyday?

Why would anyone buy a used condo for $70K when you can get a new one for the same amount?

 

[gcostanza]

Why would anyone buy a used condo for $70K when you can get a new one for the same amount?

Where are people buying used condos in the GTA for $70K?

I'll take 4, please.

 

[black booty lover]

Where are people buying used condos in the GTA for $70K?

I'll take 4, please.

lol!!!

If only....

 

[Indiana]

Yo can't get a new one for $70K any more.

 

[Phil C. McNasty]

I'm pretty sure that was a typo and he meant $700,000

 

[black booty lover]

Yo can't get a new one for $70K any more.

You never could.

 

[waba]

I'm pretty sure that was a typo and he meant $700,000

or 170,000

 

[Phil C. McNasty]

$70K wont even buy you a closet....LOL

 

[doggystyle99]

Where are people buying used condos in the GTA for $70K?

I'll take 4, please.

Jane and Finch old buildings they go for about $100K
Building hallways smell like someone just took a shit in them though and that smell was there about 15 years ago I am sure it's still there.

 

[doggystyle99]

How can people sell condos that are 5, sometimes 10 years old at such crazy prices considering how there are so many uninhabited units in the city and new units being built all over the GTA everyday?

Why would anyone buy a used condo for $70K when you can get a new one for the same amount?

Where are the new condos for $70K?

 

[Denmae]

You never could.

Of course you could

 

[Chloë.]

Where are the new condos for $70K?

Down payment maybe.

 

[fisherm]

$70k gets you a parking spot or storage locker

 

[Kilgore Trout]

Fools.
He was talking about Toronto, Ohio.
Population 5,094 and that's $70,000 US

 

[black booty lover]

Of course you could

What year was this??? 1997?

I can tell 15 years ago starting prices were in the 140k range.

 

[Occasionally]

Fools.
He was talking about Toronto, Ohio.
Population 5,094 and that's $70,000 US

Hahaha

 

[doggystyle99]

Down payment maybe.

Maybeeeeeeee lol

 

[Smallcock]

A unit in an older condo with a good downtown core location is a lot less expensive than a new building unit, will often be larger, and has a solid maintenance history (maintenance fees have levelled off).

 

[Scarbarian]

Damn phone, it was a typo and it was supposed to say $700K.

But the question still stands - why buy a used/second hand condo for the same price you could get a new one? Especially when a ton of occupancy rates are nowhere near full on many buildings.

 

[Smallcock]

Damn phone, it was a typo and it was supposed to say $700K.

But the question still stands - why buy a used/second hand condo for the same price you could get a new one? Especially when a ton of occupancy rates are nowhere near full on many buildings.

For illustrative purposes only:

You can plunk down $600k for a 2+1 bedroom, 2 bathroom unit in an older building, or $600k for a 1+1 bedroom, 1 bathroom unit in a new building. If you value space over newness then you might choose the former.