http://www.bnn.ca/News/2013/10/10/Micro-condo-trend-growing-in-Toronto.aspx
Cozy but absolutely fabulous location.
Cozy but absolutely fabulous location.
Micro condos (300 sq. ft.) growing trend in Toronto.
- Thread starter rafterman
- Start date
Suitable perhaps for one person, but one would still need to walk through the kitchen to use the bathroom........... Sincerely, Jon .
A normal person can't live in 300 sq ft. You essentially own a hotel room. Might be fine as a permanent touchdown apartment for an out-of-towner that works downtown or visits Toronto frequently. I can see companies buying them for out-of-town execs. It'll come down to the price of what they'd spend on hotels versus the cost of the condo, maid service, convenience factor, etc.
It would make me angry if they're marketing them towards people for use as a permanent home. Real estate economics in Toronto are not the same as New York, London, Hong Kong, etc. So to try to pretend that a model that's grown out of those markets is reasonable for Toronto represents naked dishonesty and greed. The investors deserve to lose their shirts.
It would make me angry if they're marketing them towards people for use as a permanent home. Real estate economics in Toronto are not the same as New York, London, Hong Kong, etc. So to try to pretend that a model that's grown out of those markets is reasonable for Toronto represents naked dishonesty and greed. The investors deserve to lose their shirts.
I could see small units for people who work in the city and do nothing but sleep in them (i.e., leave for the burbs on the weekends). But if you're going to live in one full time, that's gunna be a problem...
Pretty much, but couldn't you do better with a long term hotel unit, getting maid service in the deal.
I can see a use for them. My wife and I have a cottage. We have talked about fully winterizing it and doing some upgrades to make it a good permanent home. However we both work in the city.
We could both probably finagle working from home Mondays and Fridays, and we would work from the cottage those days.
We'd need a place to stay two or three nights a week in the city, and stay four or five nights in the cottage.
So the logic would be sell our place in the city for a much smaller one, pour the money into upgrading the cottage, and use the small flat in the city as a landing pad during the middle of the work week.
Dunno though, there are some downsides, but it's not a bad life if we can pull it off.
That said my idea of small flat was probably 600 sq feet, so twice that size.
We could both probably finagle working from home Mondays and Fridays, and we would work from the cottage those days.
We'd need a place to stay two or three nights a week in the city, and stay four or five nights in the cottage.
So the logic would be sell our place in the city for a much smaller one, pour the money into upgrading the cottage, and use the small flat in the city as a landing pad during the middle of the work week.
Dunno though, there are some downsides, but it's not a bad life if we can pull it off.
That said my idea of small flat was probably 600 sq feet, so twice that size.
I read a article where they said the trend of the younger folk isn't to own "stuff". Like books etc. All the electonic and computer storage make it a lot easier to do without space. Many aren't cooking as much either so kitchen facilities are minimal.
Toyota also is worried because less young people are buying cars these days.
With a bit of a shift in how people are thinking this could become enough of a trend to make this type of place worthwhile to some as a start to building equity for a later purchase.
Toyota also is worried because less young people are buying cars these days.
With a bit of a shift in how people are thinking this could become enough of a trend to make this type of place worthwhile to some as a start to building equity for a later purchase.
