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North York has a buzzing metropolitan lifestyle
and hundreds of different condominium buildings
from which to enjoy this life. North York is a
major metropolis of Toronto, Canada that is one
of the most culturally diverse areas in the
country. So investing in
North York
Condos makes a lot of good sense.
There are two major areas that you should look
at for investment purposes. The first is the
area around the buzzing Central Business
District, particularly on or just off Yonge
Avenue. There is a downtown feel in North York
Centre which has easy links to the Toronto
Transit system and is very popular with young
professionals. This is also the area to find
high-rise condominiums and some really stunning
signature buildings such as Platinum Towers and
Miracle At Yonge.
Willowdale is another neighbourhood where they
young professionals gather. It has excellent
transport links as well as bars and restaurants.
If you are searching for the family renters then
Emery, Don Mils and Victoria Park Village are
very popular areas.
Student renters can be found in the area around
North York University. This is also a vibrant,
student based environment with condominiums to
suit these types of renters.
Whichever area you choose the size of the condo,
the services available within the condominium
and the entertainment and transport links around
the condo are very important.
Whilst you can buy very small “junior” or
“bachelor” condos that are about 450 to 550
square feet you are unlikely to obtain long
rentals on these properties. These are the types
of homes that people quickly grow out of and
want to move on from. The exception being if you
purchase a small really high end condo that is
suitable for short company lets. There are many
international businesses based in the North York
Central Business District and obtaining a rental
contract from a large company is a profitable
option.
Two bedroom North York condos will always let much easier
than a one bedroom condo. They appeal to small
families and to young sharers. A condo with two
en-suite bathrooms and bedrooms the same size is
particularly attractive to sharers.
If you wish to appeal to the wealthier renter or
to contract office workers then the design and
finish to the condominium is of particular
importance.
All North York condo renters are choosing condominium
living because they want the ease of this type
of lifestyle combined with the recreational
facilities that condominiums usually offer.
North York has hundreds of condominium buildings
that offer swimming pools, concierge services
and exercise rooms as a minimum. Many offer many
more services. All of them are attractive to the
condo renter.
So investing in a North York condominium – a
great idea.
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