The Condo Chicks were recently interviewed on their knowledge of the Toronto condo world.
Click on DNA Condos to hire the Condo Chicks to sell or buy your next Toronto condo.
Showing posts with label dna1. Show all posts
Showing posts with label dna1. Show all posts
Friday, August 5, 2011
Tuesday, August 2, 2011
DNA 1&2 Condos or DNA3 Condos?
When it comes to purchasing a condo unit, many of our buyer clients ask us which is the better choice, buying a resale or pre-construction unit. The difference between the two being that one already physically exists and the other one does not. Deciding which route to take depends on a few factors such as timeline, motive and capital. In the case of DNA Condos on King Street West, buyers currently have the choice to go either way. DNA Condos 1&2 are finished and can be moved in at anytime while DNA3 Condos will not be ready until 2013.
When purchasing a resale condo unit, such as DNA1 or DNA2 Condos, there are no surprises; what you see is what you get. You know exactly what you are getting into as you can physically visit the unit, see what finishes have been used, know how the management is running the building, etc. Generally speaking, items such as window coverings, light fixtures and built-ins are left behind by the sellers which are a bonus. Another positive aspect of buying resale is that a buyer is able to visit multiple units in different locations before making a decision to see which one best suits their needs. The down side of resale is that you are not the first owner of the unit and some prep work of the unit may be required before move in.
On the other hand, when purchasing a pre-construction condo unit, such as DNA3 Condos, you are essentially buying an idea and not a tangible item as the condo doesn’t physically exist yet. Instead of visiting the unit, you visit the sales center where you purchase off of a floor plan where you must visualize the space you are purchasing. The nice thing about buying pre-construction is that you are the first owner and everything is brand new. Like at DNA3 Condos, when color selection comes around, you can even pick the colors that you like best for your unit. Think custom made! By the time the builder has sold enough units to start construction and construction has been completed, it isn’t until years later that you are actually able to move in. If you are looking to move into a condo unit immediately or within a short time period, then resale is the way to go but if you are able to wait a few years and have a flexible timeline then pre-construction may just be what you are looking for, such as DNA3 Condos.
The next thing to consider is motive. What is your reason for buying a condo unit? Is it to reside in or to flip? When buying a resale condo unit, you can potentially move in immediately whereas if you buy pre-construction you must be patient and flexible as the original occupancy date will most likely fluctuate. If it’s an investment that you are looking for, and the price is right, then pre-construction may just earn you that extra cash you are looking for. When buying pre-construction, you buy at today’s market price with the anticipation of the future market price being significantly higher.
Finally one of the most important elements of buying a condo unit is the cost and if you can afford the financial obligation. In either situation, a down payment must be made. In resale, on average a 5% down payment is given as a deposit with the offer. Depending on what has been arranged with the bank, a further deposit is paid to the bank upon unit closing. This deposit amount can vary from 5% down to 100% down, in which case a mortgage would not be required. When you purchase a pre-construction unit however this flexibility is not allowed. The builder has strict deadlines when deposits must be made. Usually a deposit is made with the initial signing of the documents, another one upon closing and then a few others in between which usually totals about 25% down.
A condo can be a great investment and a great place to live whether you purchase resale or pre-construction. Choosing which route to take depends mostly on your urgency to move but also on your financial situation and your reason for buying. In either case take the time to determine which route makes the most sense for you.
Click on DNA Condos for more information!
When purchasing a resale condo unit, such as DNA1 or DNA2 Condos, there are no surprises; what you see is what you get. You know exactly what you are getting into as you can physically visit the unit, see what finishes have been used, know how the management is running the building, etc. Generally speaking, items such as window coverings, light fixtures and built-ins are left behind by the sellers which are a bonus. Another positive aspect of buying resale is that a buyer is able to visit multiple units in different locations before making a decision to see which one best suits their needs. The down side of resale is that you are not the first owner of the unit and some prep work of the unit may be required before move in.
On the other hand, when purchasing a pre-construction condo unit, such as DNA3 Condos, you are essentially buying an idea and not a tangible item as the condo doesn’t physically exist yet. Instead of visiting the unit, you visit the sales center where you purchase off of a floor plan where you must visualize the space you are purchasing. The nice thing about buying pre-construction is that you are the first owner and everything is brand new. Like at DNA3 Condos, when color selection comes around, you can even pick the colors that you like best for your unit. Think custom made! By the time the builder has sold enough units to start construction and construction has been completed, it isn’t until years later that you are actually able to move in. If you are looking to move into a condo unit immediately or within a short time period, then resale is the way to go but if you are able to wait a few years and have a flexible timeline then pre-construction may just be what you are looking for, such as DNA3 Condos.
The next thing to consider is motive. What is your reason for buying a condo unit? Is it to reside in or to flip? When buying a resale condo unit, you can potentially move in immediately whereas if you buy pre-construction you must be patient and flexible as the original occupancy date will most likely fluctuate. If it’s an investment that you are looking for, and the price is right, then pre-construction may just earn you that extra cash you are looking for. When buying pre-construction, you buy at today’s market price with the anticipation of the future market price being significantly higher.
Finally one of the most important elements of buying a condo unit is the cost and if you can afford the financial obligation. In either situation, a down payment must be made. In resale, on average a 5% down payment is given as a deposit with the offer. Depending on what has been arranged with the bank, a further deposit is paid to the bank upon unit closing. This deposit amount can vary from 5% down to 100% down, in which case a mortgage would not be required. When you purchase a pre-construction unit however this flexibility is not allowed. The builder has strict deadlines when deposits must be made. Usually a deposit is made with the initial signing of the documents, another one upon closing and then a few others in between which usually totals about 25% down.
A condo can be a great investment and a great place to live whether you purchase resale or pre-construction. Choosing which route to take depends mostly on your urgency to move but also on your financial situation and your reason for buying. In either case take the time to determine which route makes the most sense for you.
Click on DNA Condos for more information!
Tuesday, July 19, 2011
Units Available at DNA Condos
Currently there are a few units for sale in King West's renowned DNA Condos. They are as follows:
1. Two story one bedroom unit with parking listed for under $320 000
2. A one bedroom plus den unit with a locker but no parking listed for under $335 000
3. A two bedroom loft with two washrooms with both parking and locker listed for under $420 000
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For a full list of available units for sale, contact us at DNA Condos.
1. Two story one bedroom unit with parking listed for under $320 000
2. A one bedroom plus den unit with a locker but no parking listed for under $335 000
3. A two bedroom loft with two washrooms with both parking and locker listed for under $420 000
For a full list of available units for sale, contact us at DNA Condos.
June Market Update
The GTA saw 10,230 sales in June, up 21% from last June making it the 3rd best June on record. This is quite the turnaround from the first half of 2011 - down by 4.5% compared to the first half of 2010.
Average prices for June was $476,371, up by about 9.5% from June 2010 and up by about 8% from the average selling price for the first half of the year at $467,169.
Listing supply is down this year which is why we are seeing the average price increase. Buyer demand has pushed this price up in the second quarter of the year.
* Toronto Real Estate Board, New Release, July, 2011.
Average prices for June was $476,371, up by about 9.5% from June 2010 and up by about 8% from the average selling price for the first half of the year at $467,169.
Listing supply is down this year which is why we are seeing the average price increase. Buyer demand has pushed this price up in the second quarter of the year.
* Toronto Real Estate Board, New Release, July, 2011.
Tuesday, July 12, 2011
Pets at DNA
It's becoming a new trend for pets to be allowed in Toronto condos. It wasn't too long ago, that there were restrictions on having pets in your condo. This was inevitably a hard decision for downsizers with pets! The Condo Chicks are happy to share that DNA condos is indeed a pet friendly condo!
For more info on selling or buying in these King West condo buildings, contact us at DNA CONDOS.
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For more info on selling or buying in these King West condo buildings, contact us at DNA CONDOS.
Saturday, April 30, 2011
Builder of DNA Condos
For a lot of you that don't know, the builder of DNA Condos is Canderel Stoneridge. They were essentially the first builder to start development in King West with their first phase of DNA. After it's initial success, it was only natural for the builder to continue the DNA brand with it's second phase, and now selling it's third and final phase which is still in the pre construction phase.
Canderel Stoneridge has an excellent reputation for building good quality product. They simply put forth an effort to build their DNA condos with the highest quality finishes and features. It's this type of quality that maintains the high demand and resale values in these buildings.
For more information on buying or selling your DNA condo, click on DNA Condos for more information.
Canderel Stoneridge has an excellent reputation for building good quality product. They simply put forth an effort to build their DNA condos with the highest quality finishes and features. It's this type of quality that maintains the high demand and resale values in these buildings.
For more information on buying or selling your DNA condo, click on DNA Condos for more information.
Sunday, April 17, 2011
TV Interview: April 18, 2011
We are excited to share with all of you that we will be interviewed this Monday, April 18th, 2011 at 9pm on the TV show “In Tune with Real Estate.” From what we have been told, it will be on channels 10 and 63. We will be asked questions regarding the condo market as well as other elements that come into play when buying or selling a condo. Make sure you “tune in” to see what we have to say!
Saturday, March 12, 2011
Top Ten Real Estate Deals
The Condo Chicks are happy to announce that they are the Toronto Representatives for Top Then Real Estate Deals. Check it out! http://www.toptenrealestatedeals.com/homes/top-ten-home-deals/on/toronto/
Click on DNA for more information on any of these deals!
Click on DNA for more information on any of these deals!
Thursday, March 3, 2011
Tips on Selling your DNA Condo
The current real estate market condition in Toronto is starting to pick up for sellers. The market early last year proved to be a strong seller's market with condos sitting on the market for only a few days before selling. The market today is definitely starting to pick up just in time for spring. In the meantime, it's more important than ever to put the extra effort in when selling your Toronto Condo.
Here are a few tips when selling your condo in Toronto:
1. If the unit is vacant, staging can have a positive effect as it can help potential purchases visualize how space can be utilized.
2. If the unit is occupied it is extremely important to keep the space tidy. Surfaces should be clear, washrooms should be clean and dishes should not be in the sink.
3.It is to the sellers benefit to remove any paintings or objects with religious meaning. A simple religious object can limit potential buyers.
4. Be flexible with showings. If people can't get into see your unit, how can you expect it to sell?
5. If you are home when a showing is booked, step out of your home. Potential buyers will feel like they can't talk freely with their agent and will feel pressure to look quickly. You want showings to be a pleasant and comfortable experience.
6. Restrain pets. Even though Snoopy may be really friendly, a lot of people are scared of dogs.
A few little changes can make a huge difference when it comes to selling your home. A little more effort can set you apart from your competition during these market conditions.
Click on Dna Condos for more information!
Here are a few tips when selling your condo in Toronto:
1. If the unit is vacant, staging can have a positive effect as it can help potential purchases visualize how space can be utilized.
2. If the unit is occupied it is extremely important to keep the space tidy. Surfaces should be clear, washrooms should be clean and dishes should not be in the sink.
3.It is to the sellers benefit to remove any paintings or objects with religious meaning. A simple religious object can limit potential buyers.
4. Be flexible with showings. If people can't get into see your unit, how can you expect it to sell?
5. If you are home when a showing is booked, step out of your home. Potential buyers will feel like they can't talk freely with their agent and will feel pressure to look quickly. You want showings to be a pleasant and comfortable experience.
6. Restrain pets. Even though Snoopy may be really friendly, a lot of people are scared of dogs.
A few little changes can make a huge difference when it comes to selling your home. A little more effort can set you apart from your competition during these market conditions.
Click on Dna Condos for more information!
Thursday, February 24, 2011
New Listing at Electra Lofts Located Beside DNA Condos
The Condo Chicks are listing a beautiful unit located in the heart of King West, located beside DNA Condos. With outstanding finishes and it’s boutique feel, this condo is a must see! Some more information:Originally built as 1+ Den, entire second floor is a master suite, with walk-in closet.
Penthouse suite, south facing, view of lake.
Private rooftop terrace.
Main floor balcony.
1.5 bathrooms.
Large pantry closet and in-unit storage.
TTC at door step. Easy access to Liberty Village and Ossington / Queen West shops & Restaurants.
Locker storage included.
Parking Space included.
Brand new granite kitchen counters and sink. New carpeting on stairs.
Penthouse suite, south facing, view of lake.
Private rooftop terrace.
Main floor balcony.
1.5 bathrooms.
Large pantry closet and in-unit storage.
TTC at door step. Easy access to Liberty Village and Ossington / Queen West shops & Restaurants.
Locker storage included.
Parking Space included.
Brand new granite kitchen counters and sink. New carpeting on stairs.
Click on DNA Condos for more information!
To Barbecue or Not to Barbecue – That is the Question!
One of the things that people overlook when purchasing a Toronto condo is whether their new condo will permit them to barbecue. With more and more people choosing the condo lifestyle in Toronto, it can sometimes be very difficult to find a condo building that will accommodate aspects of a freehold home into your condo such as barbecuing. This alone makes your condo search a more challenging and frustrating task.
Many buyers are under the impression that condo policies on barbecues can be taken lightly. After all you do own the unit so why shouldn’t you be allowed to barbecue freely on your balcony or terrace? Unless you want a lawsuit on your hands, abide by the condo corporations rules.According to The Ontario Fire Code, there are no restrictions on where barbecues can be located. The city of Toronto does allow balcony cooking however your condo corporation may prohibit these actions. An interesting fact is that it is the transportation of the BBQ on the elevator and the storage of the propane tank that is illegal not the actual barbecuing. By law, charcoal and wood fires used for cooking are legal however it is the condo corporation that will prohibit barbecue usage. To date, there have been many legal battles concerning barbecues on condos balconies; therefore it is best to do your research and due diligence prior to purchasing a condo in Toronto if barbecuing is an important aspect of your condo lifestyle.
With builders now realizing the demand for barbecuing privileges, the installation of natural gas lines on balconies and terraces in Toronto is becoming more and more common. Such units can be found in the DNA Condos, including the newest of the buildings, DNA3. Where natural gas lines are not present, the majority of Toronto condo buildings are attempting to accommodate barbecue lovers with a rooftop terrace if they are prohibited on individual balconies.
When searching for a condo in Toronto, it is important to ask your Realtor to only show you units where barbecuing on balconies is permitted. Once you’ve chosen the condo you would like to reside in and you’ve decided to put in an offer, make sure that your Realtor makes the offer conditional on your lawyer’s review of the status certificate. A portion of this document deals specifically with the barbecue rules and regulations of the condo building.
If you are interested in knowing which condo buildings in Toronto will permit you to barbecue on your balcony, or if you have a particular building in mind but are not sure about whether barbecuing is permitted, please feel free to click on DNA Condos for more information.
Thursday, January 27, 2011
Tips on Selling your DNA Condo
When selling your condo, it is extremely important to show it at its potential. Here are a few simple things you can do to increase the attractiveness of your condo unit to potential buyers while still keeping within a budget. Some of these items are do-it yourself projects and some require the help of a professional. Either way these changes will help you get top dollar for your condo unit and also have a great return on investment.
In cost ascending order, here is what you can do to better present your condo unit for sale:
1) De-clutter and de-personalize– This is probably the most cost effective yet easy improvement you can choose to do. When it comes to showing your condo, less is more. Remove religious items, family photos, gadgets and knickknacks. Keep in mind you want the buyer to remember the condo unit and not your extensive collection of DVD’s.
2) Clean – I know you are busy, but grab the vacuum and the glass cleaner and get rid of those dust mites and smudgy windows. People can not envision themselves living in a dirty home.
3) Upgrade hardware – Are those handles on your kitchen and bathroom cabinet doors still from the 90’s? Changing the hardware is a simple and cost effective way to give a new, modern look to an old cupboard door.
4) Upgrade light fixtures- Change old, outdated light fixtures and electrical cover plates. These are cheap to replace yet make a huge difference in the appearance of a room. Don’t forget to make sure to replace burnt out light bulbs as well.
5) Paint – Freshen up the interior of your condo unit with a new coat of paint. Use a neutral colour to make the space appear larger than it is and also to allow the buyer to envision their own furniture in the space.
6) Upgrade flooring – If it’s in your budget, replace old broadloom with simple, neutral broadloom or hardwood floors. If hardwood is way out of your budget, opt for laminate.
7) Kitchen Upgrades – One of the first areas in a condo a woman looks at is the kitchen. If it’s not in your budget to re-model the kitchen then consider replacing those old appliances with stainless steel. Stainless steel appliances are sleek and will give your home that modern touch.
In today’s buyers market it is more important than ever to make your condo unit more attractive to potential buyers. After all, you only get one chance at a first impression so why not make it a good one!
Click on DNA CONDOS for more information.
In cost ascending order, here is what you can do to better present your condo unit for sale:
1) De-clutter and de-personalize– This is probably the most cost effective yet easy improvement you can choose to do. When it comes to showing your condo, less is more. Remove religious items, family photos, gadgets and knickknacks. Keep in mind you want the buyer to remember the condo unit and not your extensive collection of DVD’s.
2) Clean – I know you are busy, but grab the vacuum and the glass cleaner and get rid of those dust mites and smudgy windows. People can not envision themselves living in a dirty home.
3) Upgrade hardware – Are those handles on your kitchen and bathroom cabinet doors still from the 90’s? Changing the hardware is a simple and cost effective way to give a new, modern look to an old cupboard door.
4) Upgrade light fixtures- Change old, outdated light fixtures and electrical cover plates. These are cheap to replace yet make a huge difference in the appearance of a room. Don’t forget to make sure to replace burnt out light bulbs as well.
5) Paint – Freshen up the interior of your condo unit with a new coat of paint. Use a neutral colour to make the space appear larger than it is and also to allow the buyer to envision their own furniture in the space.
6) Upgrade flooring – If it’s in your budget, replace old broadloom with simple, neutral broadloom or hardwood floors. If hardwood is way out of your budget, opt for laminate.
7) Kitchen Upgrades – One of the first areas in a condo a woman looks at is the kitchen. If it’s not in your budget to re-model the kitchen then consider replacing those old appliances with stainless steel. Stainless steel appliances are sleek and will give your home that modern touch.
In today’s buyers market it is more important than ever to make your condo unit more attractive to potential buyers. After all, you only get one chance at a first impression so why not make it a good one!
Click on DNA CONDOS for more information.
Selecting a Realtor to Buy or Sell Your DNA Condo
In the City of Toronto, it seems that everyone is in real estate, is getting into real estate or knows someone in real estate. It is definitely an industry that has seen an over saturation of real estate agents. Currently there is over 30 000 real estate agents registered with the Toronto Real Estate Board. That is a lot of agents to choose from when looking for representation for your condo sale or a condo purchase. Therefore how do you make the choice? The following tips will help you find the best agent for you.
1. Find an agent in the area or building you are looking to sell or buy. This is an important part of the selection process. Agents become “experts” in certain areas therefore they have the inside scoop of buyers and sellers in the area. A lot of the time they will know when someone is looking to list prior to which can essentially give you an edge when looking to buy into the condo building. On the flip side, if you are looking to sell your condo, an agent that is working in the building, will also have a pool of buyers looking to get into the building thus giving you an advantage.
2. If you are looking to buy a pre construction condo, it is an advantage to be represented by a seasoned pre construction agent in Toronto. A lot of developers open their doors first to what is called VIP real estate agents. These agents are allowed to purchase condos prior to the building being opened to regular brokers as well as to the public. The price per square foot will be at the lowest point, thus making your investment a lot more beneficial. Ask your VIP agent if he has sold for that particular builder before and if he has special VIP access.
3. Referrals are also an indication that a real estate agent has done a good job in the past. Ask your friends and family if they were particularly happy with the services provided by an agent in the past. It is always re assuring to know they have done a good job with other clients. A referral is essentially a real estate agent’s resume.
4. Communication while selecting a real estate agent is key. Don’t be shy to sit down with a few potential agents and tell them what you are looking for in services. Real estate agents work in different ways, therefore you have to find the one the works best for you. You are essentially interviewing for a job. You must be comfortable with the agent and be prepared to establish a working relationship that makes everyone happy.
As there are many reputable and established real estate agents in the City of Toronto, the selection process can be somewhat tiresome. By taking into the consideration the above mentioned tips, you should be able to find yourself an agent that will be able to sell your condo, find you a condo to live in or invest with no problems. It is quite the norm to have a few different agents to help you out in the different aspects of Toronto Condo Market.
Click on DNA CONDOS for more information.
1. Find an agent in the area or building you are looking to sell or buy. This is an important part of the selection process. Agents become “experts” in certain areas therefore they have the inside scoop of buyers and sellers in the area. A lot of the time they will know when someone is looking to list prior to which can essentially give you an edge when looking to buy into the condo building. On the flip side, if you are looking to sell your condo, an agent that is working in the building, will also have a pool of buyers looking to get into the building thus giving you an advantage.
2. If you are looking to buy a pre construction condo, it is an advantage to be represented by a seasoned pre construction agent in Toronto. A lot of developers open their doors first to what is called VIP real estate agents. These agents are allowed to purchase condos prior to the building being opened to regular brokers as well as to the public. The price per square foot will be at the lowest point, thus making your investment a lot more beneficial. Ask your VIP agent if he has sold for that particular builder before and if he has special VIP access.
3. Referrals are also an indication that a real estate agent has done a good job in the past. Ask your friends and family if they were particularly happy with the services provided by an agent in the past. It is always re assuring to know they have done a good job with other clients. A referral is essentially a real estate agent’s resume.
4. Communication while selecting a real estate agent is key. Don’t be shy to sit down with a few potential agents and tell them what you are looking for in services. Real estate agents work in different ways, therefore you have to find the one the works best for you. You are essentially interviewing for a job. You must be comfortable with the agent and be prepared to establish a working relationship that makes everyone happy.
As there are many reputable and established real estate agents in the City of Toronto, the selection process can be somewhat tiresome. By taking into the consideration the above mentioned tips, you should be able to find yourself an agent that will be able to sell your condo, find you a condo to live in or invest with no problems. It is quite the norm to have a few different agents to help you out in the different aspects of Toronto Condo Market.
Click on DNA CONDOS for more information.
Friday, January 21, 2011
New Mortgage Rules when Buying a DNA Condo
Finance Minister Jim Flaherty has just released some info on new rules for CMHC insured mortgages, which will be implemented as of March 18th. A CMHC insured mortgage occurs when less than 20% is put down on a purchase of a property.
For home buyers with a CMHC insured mortgage, the new rules will effect mortgage amortization. Amortization will be changed from 35 years to 30 years. On average this change will increase monthly payments by around $40 for every $100K borrowed. Down payments for purchases can still be 5%.
In terms of refinancing, the max mortgage advance will be 85% of the appraised value. This loan to value number used to be 90%.
Good news is that these new mortgage rules will help to keep interest rates low. The Bank of Canada has announced no prime rate change, leaving variable rate mortgages and credit lines as is. Flaherty hopes these new rules will help to keep Canadians spending in check.
We have about 2 months before the new rules come into play (March 18th). If you are looking to purchase a Toronto condo, make sure to visit the bank or your mortgage broker soon to arrange financing. Contact the Condo Chicks below in you are looking to purchase or sell a Toronto Condo.
For home buyers with a CMHC insured mortgage, the new rules will effect mortgage amortization. Amortization will be changed from 35 years to 30 years. On average this change will increase monthly payments by around $40 for every $100K borrowed. Down payments for purchases can still be 5%.
In terms of refinancing, the max mortgage advance will be 85% of the appraised value. This loan to value number used to be 90%.
Good news is that these new mortgage rules will help to keep interest rates low. The Bank of Canada has announced no prime rate change, leaving variable rate mortgages and credit lines as is. Flaherty hopes these new rules will help to keep Canadians spending in check.
We have about 2 months before the new rules come into play (March 18th). If you are looking to purchase a Toronto condo, make sure to visit the bank or your mortgage broker soon to arrange financing. Contact the Condo Chicks below in you are looking to purchase or sell a Toronto Condo.
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