What to look for when considering re-sale value?

[onon]

Thanks for sharing these details and congrats on the purchase. Can't believe I forgot the name. I agree Gotham lofts demand a premium and very rarely come up for sale. It's great that the Minto building design isn't going to screw people over and will in fact enhance things by the sound of it. And I agree about the area. It's fantastic.

There's just one more thing that needs to be "fixed" and that general location will be perfect. My husband and I refer to it as "pig stink". When we were living in the area, I used to way goodbye to the poor piggies every time a truck of them went by...

 

[neuhaus]

The Minto building will block views and some light and it would have been much better if it wasn't built (or built not as tall), but living in the city views are not always guaranteed. As long as I am not staring at a brick/concrete wall, I'm okay with that. If I want views I go outside.
The smells from the slaughterhouse was a concern, but if Brad Lamb could live near it with a sprawling 700 sq.ft. terrace, I'm fine with my loft with no balcony space to enjoy the aromas.

 

[metroTO]

Ceiling height is definitely a good resale value. I would consider 9 feet the minimum (I am still surprised to hear some new condos with 8 feet ceilings), and stippled or popcorn ceilings are turn offs as it looks dated and a sign that the developer is cutting corners in new construction.
Most importantly is location, simply because you can't change this and there will always be a demand for properties in good neighborhoods or are centrally located.
I agree with Neuhaus about buildings with fewer units. A boutique building is more exclusive, more private, has less renters and turnover, more quiet, better quality living environment -- you know your neighbors better. The downside is that small buildings often lack amenities, and maintenance fees tend to be more expensive as there are less homeowners to spread the cost of building maintenance around.

 

[James]

...The downside is that small buildings often lack amenities, and maintenance fees tend to be more expensive as there are less homeowners to spread the cost of building maintenance around.

My re-sale experience with smaller buildings is akin to that of having a unique car. Having a unit in a large, popular building is like having a Honda Civic for sale. You know there'll be buyers, as long as your price is right. The downside of this is that your price is usually dictated by what other units have sold for. The plus, naturally, is that you will have more potential buyers.

With smaller buildings, you have a more unique item on the market, which may work for or against you. There may not be as many comparables by which buyers (and realtors for that matter) can base a true current market value at. There may be fewer buyers but when the right one comes along, they will pay what they feel the property is worth. Similar to selling a unique car, there aren't that many choices and it may take longer to sell with fewer showings but you can (and I have) gotten more than expected because of this.

At the end of the day, it comes down to what you want. That...and location.

 

[TORealtyBlog]

You definitely need to look into the location, square footage, reserve fund, and the developers of the property.