You’ve heard the old saying “Location Location Location” and this mantra should be the most important factor when purchasing your new home or condo.
As a REALTOR in Toronto, I often get asked “what are the best views in the city”, to which I reply “The ones that match your budget”. A view is nice, but let’s face it. Unless you’re south of Queens Quay facing south east, south or south west, your view isn’t guaranteed forever!
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What WILL Last Forever Then?
Now location on the other hand is something that will last forever.
If you take Manhattan for example, some buildings trade at a premium because of their location, be it SOHO or Gramercy Park and they don’t have a view at all!
Yorkville, King West, Liberty Village and Leslieville are all prime examples of areas in the city with next to no view but homes and condos will not only sell for a premium, but quickly and without hiccups.
Some condos will fly off the shelves because they offer a glimpse of the lake or of the CN Tower, but most sell predominantly because of their location!
What is Todays Buyer Looking For?
Buying the view was not only a “hit” TV show on the W Network back in 2018/19 but in the city of Toronto, a thing of the past. Todays buyer is looking for amenities, lifestyle and interior flow over a view and you can see that with new development and the premiums they are charging.
NOBU for example is located on Mercer in the heart of the entertainment district. A majority of the units on the lower floor will have NO view as south facing units will look directly into 250/270 Wellington and north facing units into 8 Mercer or Le Germain Hotel.
This project sold out in days due to location, amenities, lifestyle and oh did I say location?
There are a variety of factors that will influence your decision on where to purchase your next piece of real estate but it’s important to work with a REALTOR who knows the city!
For more information on buying real estate in the city click HERE!
