Pre constrcution condos in Toronto

Are you planning to invest in the Toronto real estate market? Investing in pre-construction homes in Toronto is one of the best investment strategies that you can implement. However, it can feel overwhelming especially if you are a first-time homebuyer as there are different types of ready-to-occupy condos and pre-construction condos in Toronto to choose from. They differ in terms of either amenities, price tag,unit size, location, maintenance costs, or the level of homeowner responsibilities. In this real estate properties guide, we shall discuss the various types of condos and lofts in the Toronto real estate market to help you understand the unique features of each property option before you can make the buying decision.

Toronto has transitioned into its prime years recently, demonstrating a huge spike in high-rise structures and luxury condominiums. This idea has taken root in the recent past only, with the advent of urbanization and the increase in the city-dwelling population which led to the rise in demand for accommodation. Our previous generations placed more value on the site of a property, its square miles and wider space, whereas now the focus has shifted to the quality of lifestyle. A high-rise is essentially defined as any structure that has more height than width, or any building with more than 11 storeys. These types of installations are preferable for those buyers looking for pre-construction Condos In Toronto as it takes a longer duration to finish, giving the buyers ample decision-making time to come to a conclusion. High-rise condos also offer a larger number of facilities and amenities to users, not to mention the spectacular views that come with them. It’s no wonder that buyers gravitate towards the added benefits such as room service, fitness centers, yoga rooms and spa facilities. Keeping in mind all these factors now is the optimum time to invest in this opportunity, as this Toronto real estate market is only expected to go upward with time.

pre-constrciton condos Toronto

High-rise Condominiums

The sprout of high-rise buildings in recent years has redefined the prominence of Toronto city. As the living standards in Toronto city shift to high-rise buildings, we are witnessing an increase in new high-rise condominiums. The demand for high-rise condominiums is driven by the ever-growing population in major cities such as Toronto where we have a high number of residents and visitors looking for accommodation.

Most of the high-rise condominiums are concentrated in areas such as the Entertainment District. High-rise condominiums are bringing a new phase in Toronto’s skyline and they are now a testament to a new dawn. In Toronto, a high-rise condominium is defined as a tall building whose design makes its height to be more than its width. Any building in Toronto that has over 11 storeys qualifies to be a high-rise since that’s the maximum standard for mid-rise buildings in Toronto.

For buyers interested in pre-construction condos in Toronto, high-rise condos offer the best deal. They take time before they are completed and buyers have a unique chance to make customization that suits their needs and current market trends.

In terms of amenities, high-rise pre constcrution condos offer more amenities compared to what mid-rise and low-rise condominiums have to offer. High-rise condominiums are also highly preferred as they offer residents excellent panoramic views of Toronto city and other surrounding areas like the waterfront, and Lake Ontario

Some of the unique luxury amenities that residents of high-rise condominiums enjoy include; a rooftop deck, outdoor terrace, concierge, gym, and yoga rooms.

Mid-rise condominiums

Investments in mid-rise condominiums have also increased in the Greater Toronto Area. According to Toronto’s real estate market, a mid-rise condominium is a building that has between 5-12 storeys. In addition, a mid-rise condo also has a street wall that can go as high as 6 storeys.
Most of the mid-rise condos in Toronto are only situated in particular areas of the city. We have a sizeable number of mid-rise condominiums in the Entertainment District and North York Center. However, the biggest number of mid-rise condos is found on the outskirts of the downtown core of big cities like Toronto.
You will find a majority of mid-rise condominiums in smaller cities across GTA. Mid-rise condos are mostly preferred by a large population as they take a shorter period of time to be completed compared to high-rise condominiums. Research has shown that the city of Toronto will need to accommodate more than 500,000 new residents by the year 2030. Mid-rise condos will play a greater role in helping the city achieve this great milestone as single-family homes are expensive and they can’t meet such high demands.
High-rise condominiums are also limited in terms of space and they can’t be relied on to provide much-needed housing solutions. Mid-rise condominiums can fill this gap as they take a shorter time to be completed. Luckily, many reputable developers are undertaking various mid-rise condominium development projects across various cities in the Greater Toronto Area (GTA).

Pre constrcution mid rise condos
Pre constrcution low rise condos

Low-rise condominiums

In Toronto, low-rise condominiums are residential buildings that are 3-4 storeys. They are often confused with townhouses but the fact of the matter is, they are different. One distinguishing characteristic of a low-rise condominium is that it has a common entry point that all residents use.
We also have a hybrid building which is a mix of both townhouse and a low-rise condominium. Although low-rise condos are not a great choice when it comes to luxurious skyline living, they offer more privacy as there are fewer residents in a single unit compared to mid and high-rise condominiums.
When it comes to maintenance costs, low-rise condos attract the lowest maintenance fees compared to mid-rise and high-rise condos. You can easily find low-rise condominiums in smaller cities across the Greater Toronto Area

Boutique Condos

What is a boutique condo? There is no specific definition that has been adopted in Toronto real estate to describe a boutique condominium. However, boutique condos can be defined using their unique characteristics. Boutique condos are known to be mid-size buildings that have fewer units. Most of them are designed to comprise a maximum of 100 units per condo development.

Boutique condos also have bigger and more versatile floor plans compared to mid-rise and high-rise condominiums. Having fewer units in Boutique condos is one of their unique selling points as residents enjoy more privacy and get more time to interact with a few neighbors thus, creating a sense of community living.

Residents of boutique condos also enjoy luxury amenities that improve their quality of life. Some of the common amenities that you will find in a boutique condo include; an outdoor terrace, private balconies, fitness rooms, a concierge, and dedicated parking spaces.

When it comes to maintenance costs, boutique condos are a great option compared to high-rise condominiums. They are of smaller size and this translates to lower maintenance costs. Residents of boutique condos enjoy a better quality of life as all the units feature contemporary amenities.

Boutique Condos Toronto
Pre constrcution Waterfront condos​ Toronto

Waterfront condos

If you want to stay in an area where you feel connected to Toronto city life, going for a waterfront condo is the best decision you can ever make. Waterfront Toronto has recorded an increase in condo developments in recent years as more residents continue to appreciate the beautiful experience of living in such a magnificent area.
Waterfront Toronto is within a walking distance from the downtown core. As a result, developers are taking the advantage of its proximity to the shores of Lake Ontario to develop breathtaking waterfront condos that give residents the most unique waterfront living experience.
A good example of such waterfront condos is the Humber Bay neighborhood which is located on the eastern side of the Etobicoke border. Waterfront condos in Toronto offer residents stunning views of Lake Ontario.
Most of these waterfront condos are strategically located in close proximity to Humber Bay Shores Park and Humber Bay East Park. One such popular waterfront condo development in Toronto is the Queen’s Quay. Residents enjoy spectacular views of Lake Ontario. The area also features a modern lakefront promenade that attracts many cyclists, joggers, and dog walkers. Waterfront condos are ideal for young professionals. One can easily access this neighborhood from the Financial District, and Union Station.

Luxury condos

Luxury condos offer a luxurious living experience. However, luxury condos attract a premium price tag compared to other conventional condos. In Toronto, luxury condo development projects start from $1 Million going upwards. Luxury condos feature class (A) amenities and are built to reflect the latest designs and market trends.

Luxury condos in Toronto are spacious. For instance, one-bedroom luxury condo units start from 800 square feet. Amenities such as outdoor pools that come with private cabanas are premium and are specifically designed to bring out a sense of luxury living that is not common in conventional condominiums. Most of these luxury condos will also have a dedicated juice bar, a concierge, steam and sauna, aqua massage and spas, hot and cold plunge swimming pool.

A concierge helps residents easily make appointments and bookings for events or any other reservations needed.  When it comes to appliances, luxury condos feature the latest luxury brands. Some of the popular luxury condos in Toronto like AYC condos feature designer finishes and private elevators.

Luxury condos Toronto
Lofts​ condos Toronto

Lofts

Lofts in Toronto present a unique sense of living as they were initially used as industrial spaces. They are renovated and converted into residential living spaces. Their design makes them differ from traditional apartments as they often feature very tall ceilings that have exposed brick walls as well as exposed pipes and beams. They are designed as singular units without internal walls just like studio apartments.
Lofts have separate bathroom areas which are detached from the main living area. One of the unique features that make lofts stand out compared to traditional apartments is that they are more spacious.
Some lofts are fitted with spiral vertical staircases to enable easy access to upper areas that can be converted into extra bedrooms and living spaces. The open layout and lack of internal walls make lofts easy to customize and you can easily add more rooms as per your taste and preference. Lofts are great for families as kids get ample space to play and have fun. They provide a mix of both modern and conventional lifestyles that is unique and distinct from other types of condominiums.
Exposed bricks in lofts create a sense of aesthetics in a modest lifestyle while the open layout creates more flexibility when it comes to customization. Unlike in conventional apartments where you have space constraints, living in a loft gives you unlimited flexibility in terms of space layout and room arrangement.

Understanding the various condo options in the Toronto market before making a buying decision can go a long way in helping you make the right buying choice. Investing in pre-construction condos in Toronto is a great option for investors looking for long-term, stable passive income. Pre-construction condos have excellent down payment plans and you are assured that the property will appreciate in value.
If you need professional advice on how to invest in pre-construction condos in Toronto, get in touch with us today for customized support.

Compare listings

Compare