With DNA3 Condos being one of the fastest selling new condos in King west, it is no surprise that construction is set to start in the next couple months. With that being said, this is your last opportunity to purchase before excavation on the site begins.
Remaining units vary from studios to stunning two bedroom layouts that boast wrap around balconies. Not only can you purchase two parking spots with these two bedroom units, but you only have to put 10% down. Don't miss out on this opportunity!
Click on DNA3 Condos for more information.
Wednesday, October 26, 2011
Tuesday, October 11, 2011
Studio Units at DNA3 Condos
A quick look at all the new condos being built in Toronto demonstrates that downtown Toronto condos are definitely getting smaller and smaller. It is no surprise that DNA3 Condos in King West will also be home to some smaller studio units. With one bedroom condo units with square footages averaging under 500s/f, it is no surprise that studio units are coming out in the 200-400s/f range. The question is, are these unit a good investment? In our opinion the answer is yes, for a few different reasons.
1. Studio condo units are great rental investment units. With their lower prices and smaller square footages, your carrying costs as an investor are significantly lower. Take for example in the King West area which is a tad west, just out of the core. Studio condo units in that area are renting out for an average of $1100 a month. As an investor, there is no question as to whether your cash flow will indeed be positive.
2. Studio condo units are also great units for the first time home buyer. With Toronto Real Estate prices getting higher and higher, these smaller condo units are still entry level for first time home buyers who are looking to get into the market with a small amount of funds. You know the old saying about purchasing the smallest house on the street? Apply that same correlation to studio units which are located amongst higher priced Toronto condos.
3. Studio condos units are great for the individual who works full time in the city however have a home in the suburbs. Instead of fighting traffic on a daily basis, or worrying about catching the last train after a business dinner, studio condos provide the perfect option of staying downtown Toronto.
4. Studio condo units can also be used as short term furnished units. For example if a business executive needs to spend a few weeks in downtown Toronto, a furnished studio rental may be a more attractive option then a hotel room. Furnished condo rentals can command as much as $1800 a month.
For more information on the studios available at DNA3, click on DNA3 Condos.
1. Studio condo units are great rental investment units. With their lower prices and smaller square footages, your carrying costs as an investor are significantly lower. Take for example in the King West area which is a tad west, just out of the core. Studio condo units in that area are renting out for an average of $1100 a month. As an investor, there is no question as to whether your cash flow will indeed be positive.
2. Studio condo units are also great units for the first time home buyer. With Toronto Real Estate prices getting higher and higher, these smaller condo units are still entry level for first time home buyers who are looking to get into the market with a small amount of funds. You know the old saying about purchasing the smallest house on the street? Apply that same correlation to studio units which are located amongst higher priced Toronto condos.
3. Studio condos units are great for the individual who works full time in the city however have a home in the suburbs. Instead of fighting traffic on a daily basis, or worrying about catching the last train after a business dinner, studio condos provide the perfect option of staying downtown Toronto.
4. Studio condo units can also be used as short term furnished units. For example if a business executive needs to spend a few weeks in downtown Toronto, a furnished studio rental may be a more attractive option then a hotel room. Furnished condo rentals can command as much as $1800 a month.
For more information on the studios available at DNA3, click on DNA3 Condos.
Thursday, September 29, 2011
DNA 3 Condos Standard Finishes Can't be Beat!
With Toronto Condo builders getting more and more competitive with higher end standard finishes, it is no surprise that the standard condo suite finishes at Canderel Stoneridge's DNA3 Condos can compete with the best of them.
When purchasing Pre-construction Toronto condos, it is always important to clarify with your Realtor what features and finishes are standard in the unit model suite. From there, you can get a pretty good idea of how much you would need to budget for upgrades if the standard finished do not meet your approval. It is for this reason, we take our hats off to the standard finishes that will be found at DNA3 condos. They are as follows:
-9 foot ceilings
-Baseboards to be over 4 inches thick with 2 inch trim to match
-Ceilings to be smooth or exposed concrete
-European stainless steel appliances including a microwave
-Breakfast island
-Washer and Dryer
-Engineered wood flooring throughout except for in bathrooms and laundry room
-Ceaserstone counter tops in kitchen
-Undermount sink in kitchen
-Glass backsplash in kitchen
-Porcelain tiles on floor and walls in washrooms
-Modern vanity in washrooms
-Deep soaker tub in all suites
-Frameless glass shower in suites with two full washrooms
-Dual flush toilet
As you can see from the extensive list, the standard finishes at DNA3 condos are hard to beat.
For more information on DNA3 Condos and other condos, visit our site all about Toronto Condos: DNA3 Condos.
When purchasing Pre-construction Toronto condos, it is always important to clarify with your Realtor what features and finishes are standard in the unit model suite. From there, you can get a pretty good idea of how much you would need to budget for upgrades if the standard finished do not meet your approval. It is for this reason, we take our hats off to the standard finishes that will be found at DNA3 condos. They are as follows:
 |
| DNA3 Condo Kitchen- model suite |
-9 foot ceilings
-Baseboards to be over 4 inches thick with 2 inch trim to match
-Ceilings to be smooth or exposed concrete
-European stainless steel appliances including a microwave
-Breakfast island
-Washer and Dryer
-Engineered wood flooring throughout except for in bathrooms and laundry room
-Ceaserstone counter tops in kitchen
-Undermount sink in kitchen
-Glass backsplash in kitchen
-Porcelain tiles on floor and walls in washrooms
-Modern vanity in washrooms
-Deep soaker tub in all suites
-Frameless glass shower in suites with two full washrooms
-Dual flush toilet
 |
| DNA3 Condo Bedroom - Model Suite |
 |
| DNA3 Bathroom - Model Suite |
As you can see from the extensive list, the standard finishes at DNA3 condos are hard to beat.
 |
| DNA3 Condo Living Room - Mode Suite |
For more information on DNA3 Condos and other condos, visit our site all about Toronto Condos: DNA3 Condos.
Monday, September 19, 2011
Why invest at DNA3 Condos?
With an abundance of new condo projects launching in the downtown Toronto, there is no question that there is a lot more new condos for investors to choose from. The majority of these new condos that will be built in three to four years are located within the entertainment district. More specifically, east of Spadina, north of Queen, south of Front Street and west of University. It appears as though the entertainment district is slowly being turned into a condo community. With new condo towers being approved for over 40 storeys, this location of the city will soon be congested with new residents. Our question is: "Are there too many people investing in these condos?" We feel that the answer is yes.
Even though the downtown Toronto location is centrally located, one has to question if buying in a condo with over 70% of investors is a smart choice. The problem with purchasing in these condo developments is that with such a large number of investors, one will be faced with the challenges of competing with multiple units when trying to sell, and secondly if a lot of the units are rented out, there is the risk of the condo building turning into a highly tenanted building. Unfortunately when this arises, the quality of the building has a tendency to diminish as end users naturally take more care in maintaining the unit and building it it's entirety. It is for these reasons that we have found that if investors look into purchasing in the east end of the city (west of Parliament) as well as the west end (west of Bathurst but east of Dufferin,) the potential of a greater return on their investment is stronger.
One condo project in particular that will be a great investment is DNA3 condos which will be located right at the corner of King and Shaw on the north west corner. The first two phases of DNA Condos which are DNA1 and DNA2 respectively, which are already built on the opposite side of the street are a huge success in the King West neighbourhood. With many end users in these buildings, the resale values and rental values have been renowned to be some of the highest in the city. The key to achieving such high numbers is not only the high ratio of end users, but also the quality of the product used to build these two buildings. With the recent launch of DNA3 condos which will be the third and final phase, there is no doubt that this building will also achieve some of the highest resale values in the city. With superior finishes and amenities then it's prior two phases, DNA3 condos is set to be a landmark in the King West location. The occupancy is set for 2013 and construction is looking to start in the next couple of months. With this mind, investors still have the opportunity to purchase before construction has started as well as to buy into a building where there will be a large percentage of end users; thus setting them apart from other investors.
For more information on good locations to invest, and/or specifically DNA Condos, contact us at our site all about Toronto Condos: DNA Condos.
Even though the downtown Toronto location is centrally located, one has to question if buying in a condo with over 70% of investors is a smart choice. The problem with purchasing in these condo developments is that with such a large number of investors, one will be faced with the challenges of competing with multiple units when trying to sell, and secondly if a lot of the units are rented out, there is the risk of the condo building turning into a highly tenanted building. Unfortunately when this arises, the quality of the building has a tendency to diminish as end users naturally take more care in maintaining the unit and building it it's entirety. It is for these reasons that we have found that if investors look into purchasing in the east end of the city (west of Parliament) as well as the west end (west of Bathurst but east of Dufferin,) the potential of a greater return on their investment is stronger.
One condo project in particular that will be a great investment is DNA3 condos which will be located right at the corner of King and Shaw on the north west corner. The first two phases of DNA Condos which are DNA1 and DNA2 respectively, which are already built on the opposite side of the street are a huge success in the King West neighbourhood. With many end users in these buildings, the resale values and rental values have been renowned to be some of the highest in the city. The key to achieving such high numbers is not only the high ratio of end users, but also the quality of the product used to build these two buildings. With the recent launch of DNA3 condos which will be the third and final phase, there is no doubt that this building will also achieve some of the highest resale values in the city. With superior finishes and amenities then it's prior two phases, DNA3 condos is set to be a landmark in the King West location. The occupancy is set for 2013 and construction is looking to start in the next couple of months. With this mind, investors still have the opportunity to purchase before construction has started as well as to buy into a building where there will be a large percentage of end users; thus setting them apart from other investors.
For more information on good locations to invest, and/or specifically DNA Condos, contact us at our site all about Toronto Condos: DNA Condos.
Monday, September 12, 2011
DNA3 Condo Update
With approval granted for the upper floors of DNA3 condos, it is no surprise that this condo will be a landmark in King West. Both condo towers will now be 14 storeys in total giving these upper floor units unobstructed views in all directions. This alone is rare to find in the King West area as zoning laws have proven to be quite rigid in the past. Considered one of the fastest selling projects in King West, there is no doubt that these upcoming new releases at DNA3 Condos will sell out just as quickly.
For more information on availability at DNA3, floor plans and assignment, click on DNA Condos.
For more information on availability at DNA3, floor plans and assignment, click on DNA Condos.
Tuesday, August 16, 2011
Selling my DNA Condo :How much will I get?
We recently met up with a client who was looking to sell her DNA condo. During our meeting it became very evident that her main concern was knowing what percentage of the asking price we expected to deliver to her. Many Realtors use these statistics as a marketing tool for themselves by saying “Sold for 110% of the asking price!” As Realtors we know these statistics don’t carry much weight. However, from the perspective of a potential seller the listing agent looks like a superstar, right?
Pricing your DNA condo for sale is one of the most important parts of the selling process. Determining the listing price depends on a few factors, such as market conditions, comparable sales and of course the unit itself- taking into consideration layout, location and condition. There are few pricing strategies that can be considered once a seller is ready to go to market.
1. A common pricing strategy in a strong buyer’s market is to under price the property and hold off offers until a certain date. It is the seller’s home to generate a multiple offer situation which will in return push the selling price above the asking price. Although the selling price is above the asking price, it does not necessarily reflect that the seller got any more for the property than true market value. It is by using this strategy that you will see agents marketing themselves by stating they sold over the asking price. Keep in mind that a major concern with this strategy is that the buyer can’t actually afford the price of the property generated by the multiple offer situation. More times then none, their original budget was the listing price- not the selling price which can at times go as much as $50 000 over the original asking price.
2. Another strategy is to price the property at market value. This strategy is a safer strategy as it targets the right buyers. If a buyer has been financially pre approved for a mortgage, they know exactly how much they can afford. An offer received that is conditional on financing approval will not be such an issue as the buyer’s have likely already been pre approved at the listing price.
3. A final strategy that is not as common as others is overpricing the property. This option works at it’s best when sellers have no urgency to vacate or don’t have any financial pressure to sell. A seller must carefully consider this option before listing their property as the buyer will most likely be someone who has been waiting specifically for that unit to come onto the market. In other words, the buyer pool will be much smaller for an overpriced unit, however an end user, who has been waiting for the unit will always pay a premium for their primary residence.
In short, don’t be fooled by marketing material that suggests that properties have been sold for well over 100% of asking. As you can see there are many different stratgies that can be carried out when deciding to list and sell your DNA condo. Take the time to carefully consider which option best suits you.
Click on DNA to contact the Condo Chicks about listing your DNA condo for sale.
Pricing your DNA condo for sale is one of the most important parts of the selling process. Determining the listing price depends on a few factors, such as market conditions, comparable sales and of course the unit itself- taking into consideration layout, location and condition. There are few pricing strategies that can be considered once a seller is ready to go to market.
1. A common pricing strategy in a strong buyer’s market is to under price the property and hold off offers until a certain date. It is the seller’s home to generate a multiple offer situation which will in return push the selling price above the asking price. Although the selling price is above the asking price, it does not necessarily reflect that the seller got any more for the property than true market value. It is by using this strategy that you will see agents marketing themselves by stating they sold over the asking price. Keep in mind that a major concern with this strategy is that the buyer can’t actually afford the price of the property generated by the multiple offer situation. More times then none, their original budget was the listing price- not the selling price which can at times go as much as $50 000 over the original asking price.
2. Another strategy is to price the property at market value. This strategy is a safer strategy as it targets the right buyers. If a buyer has been financially pre approved for a mortgage, they know exactly how much they can afford. An offer received that is conditional on financing approval will not be such an issue as the buyer’s have likely already been pre approved at the listing price.
3. A final strategy that is not as common as others is overpricing the property. This option works at it’s best when sellers have no urgency to vacate or don’t have any financial pressure to sell. A seller must carefully consider this option before listing their property as the buyer will most likely be someone who has been waiting specifically for that unit to come onto the market. In other words, the buyer pool will be much smaller for an overpriced unit, however an end user, who has been waiting for the unit will always pay a premium for their primary residence.
In short, don’t be fooled by marketing material that suggests that properties have been sold for well over 100% of asking. As you can see there are many different stratgies that can be carried out when deciding to list and sell your DNA condo. Take the time to carefully consider which option best suits you.
Click on DNA to contact the Condo Chicks about listing your DNA condo for sale.
Friday, August 5, 2011
Condo TV Interview
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.
Click on DNA Condos to hire the Condo Chicks to sell or buy your next Toronto condo.
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 26, 2011
World of Condos Interview
The Condo Chicks are happy to share their recent TV interview regarding all about condos!
Click on Toronto Condos and enjoy!
Click on Toronto Condos and enjoy!
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!
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