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Buying a Waterfront Condo in Toronto- right Time now

For most prospective buyers, selecting a condo is a combination of several factors including rate, floorplan, neighborhood, amenities, location and local infrastructure. Then there is the aesthetic of the surrounding area as well. Condo developers always consider the pros and cons of surrounding area and how it could complement the appeal of the condo.

If it is Toronto, then some of the most sought-after condos are those with a waterfront view; demand for these condos is significant, Toronto waterfronts are often hard to get or very expensive.  However, that doesn’t mean there aren’t any Toronto Waterfront condos for sale. Obviously, there are quite a few for sale, and they all come with a fantastic waterfront view.

Experience

The experience is diverse; it is one experience for starters to drink your first coffee in the morning in awe of your waterfront view, while it is entirely different one to be overlooking your parking lot. The same thing could be valued when you are back from work and trying to unwind with a glass of wine or a cold one in your hand.

In fact, you are a fortunate owner of a rare commodity and there is a limit to how many waterfront condos could be built.

Being close to the water also enables you to start participating in some watersports like kayaking, boating, or even fishing.

When you are close to the water, you also get to enjoy a host of other health benefits; breathing the fresh air and absorbing the natural beauty that will make you relax more than being stuck in the city.

Why in Pandemic?

One of the compelling reasons is that interest rates have never been lower and it is likely they will remain such a state, at least, in the next six months. However, there are no solid guarantees beyond that period. Financing your dream waterfront condo could be obtained at favorable interest rates.

As of now waterfront condo prices are not increasing, at least not as much as originally predicted, as the demand is not strong as it before the pandemic. Then there is the increased demand for houses, which also affected condo prices in general. Waterfront condos, on average, are still significantly more expensive than regular condos. However, it is not likely they will get cheaper than this.

The corona pandemic led recession won’t last forever and the economy is already in its recovery mode, showing positive signs, which imply higher property prices.

If you ever plan to sell your waterfront condo, then you don’t have to worry about the person who will buy it. Even in the pandemic and with a recession, rich and affluence Canadians are doing well. It is obvious that the unemployment rate is an issue only for people that work low-paying jobs. Those on the other side of the spectrum are still making money and earning well.

Even in the Commonwealth, this is the right time for the prospective investors to make an investment in Canadian properties and waterfront condos an added attraction.

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