26 Mar How to choose your condo view when buying for maximun rate on investment?
Developers put new condominiums up for sale before their construction has been completed or even begun in the Toronto pre-construction market. You may be selecting your unit from the building. Question often arises on how to choose the best view from the floor plans. Everyone from agents, developers to clients have an opinion, and everybody have a reasonable explanation to their point.
The “best” view from investment standpoint is the view that provides the best return on your investment. View of the lake ontario and CN Tower will definitely be nicer views than looking into other building or road but you also need to shell out premium price for the price as developers price their units take any clear view. But that might not be great from the investment perspective.
The key fact where the savvy condo investor makes his/her biggest money. Every condominium has what we call “protected views,” which are views that will remain exactly the same until the time you are ready to resell your Toronto Condo. Every condo investor should look for “protected views” below the nicest unprotected view where price discrepancies are far higher among two and wait for nicer unprotected view to be the same as protected view you purchased. Then you can add the premium that the higher floors paid for their view directly on their bottom line when it comes time to resell.
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