Best location and time to buy?

[gentlepuppies]

I just saw another unit listed in 2013 at ~$520k for 1000sf, so maybe the other listing was also outdated. Anyway, if it's $500psf in 2013, I wouldn't pay more than $550psf in 2015

 

[pmilo]

@gentlepuppies I would definitely consider the east side as well. Have you thought of Axiom condos? Im partial to that because I bought a unit in there, but the developer seems reputable, its currently in the early digging stages, price points were between $500-$600 psf, and its close to transit with the King line a block south or queen line 2 blocks north. My other suggestion is Riverside sq on Queen East at Broadview and Queen. That area is faily established but up-and coming still. I dont know the quality of the builder, but a good location. Looks like they may be launching phase 2. Another option (Im also interested in this one), is at 70 Carlton or "Stanley Condos". Not yet open for sales, but great location.

As for your mortage ever consider a Home Equity Line of Credit (HELOC)? I have the Manulife One and its allowed me to pay off my first place in 7 years. Not many banks will advertise it, but it works really well if you are disciplined with your spending.

 

[slickpete83]

here is an idea , buy a tridel condo right now , and use their http://www.delrentals.com/en/ rental service ( where they take care of all the paper work , finding tenants etc...) to get your condo rented out for the next 2 years while u save up more money , also take the longest mortgage possible 25 years and 1) invest the extra money monthly into US market index etfs in a TFSA account for long term or 2) sometime in the future buy another rental property , 25 years into the future you will be glad u followed my advice