There’s nothing quite like condo living. From a low-maintenance lifestyle to convenient on-site amenities, the advantages of purchasing your first unit are numerous. While there are many places where you can take this beneficial step, Etobicoke is one of the very best in the GTA. Of course, there are a few things to be aware of before taking the plunge in this in-demand area.
Here are five things to know about buying a condo in Etobicoke…
1) Your dollars will go further…
Let’s face it: buying a condo in downtown Toronto is out of reach for many people. Whether you can’t quite afford your ideal unit in King West or you want to have more money to spend on your lifestyle, you have options. Buying in Etobicoke is one of them.
Of course, you shouldn’t expect bargain-business prices for units in this section of West Toronto. That said, you can expect to pay a little less for a condo here than you would for one that’s similarly sized in the heart of the city. Fortunately, Etobicoke is just a convenient, 20-minute drive from the downtown core!
2) The market is competitive
While there are still deals to be found in Etobicoke, word is getting out about the area. As more home hunters are drawn further west, you should be prepared for an increasingly competitive buying environment.
Fortunately, there are steps you can take to prepare. One of the most critical is securing mortgage pre-approval. Knowing how much financing you’ll likely receive can assist you in setting an accurate budget—and help ensure that sellers take your offer seriously. Another tip? Know how much you’re willing to increase your bid if you need to act quickly and decisively.
3) Working with a local expert is key
Many buyers believe that when they’re buying an Etobicoke condo, any agent will do. That couldn’t be further from the truth. If you’re looking for the perfect neighbourhood for your goals and lifestyle, you need to work with someone who’s in the larger community—day in, day out.
Wondering about local school districts? Hoping to live close to picturesque green spaces and convenient amenities? The right professional can tell you whether to consider bustling Mimico, beautiful Edenbridge-Humber Valley, the stately Kingsway, or somewhere else altogether.
4) Understanding the process is crucial
No matter where you buy a condo, you should understand the steps involved—and how each decision you make could impact your purchase. Do you need an inspection? How will your buying timeline differ if you’re buying pre-construction? What kind of closing costs can you expect? There’s a whole lot to know if you want to be an informed buyer.
The good news is, you don’t have to tackle everything on your own. An experienced agent will explain what you can expect, answer your questions, and help you weigh the pros and cons of various courses of action.
5) The condos are incredible
There’s something wonderful happening in Etobicoke. Increasingly, gorgeous condos are being erected across the region—and buyers are standing by to snap them up! The waterfront area in Mimico is especially popular, due to its stunning natural beauty and the incredible quality of life it offers.
Ready to start your condo search in Etobicoke? We’re standing by to help. Get in touch today to take the first step!