People often comment that the condo market is going to bust since so many have been built and are continuing to be built. I disagree. Condo living is becoming a lifestyle choice by many who have demanding careers and don’t want to maintain a house and/or want the freedom to close up and travel freely. The only advice I would give buyers is to buy either a unique “boutique” condo (so that yours is not a dime a dozen) or to buy by the subway. Easy access to the subway always demands higher prices.
When looking for a condo there is usually a choice of buying in a new or old building. New buildings are very attractive – obviously because they sparkle and you can just move in, but the square footage is usually tight. Older condos should not be overlooked just because they don’t immediately provide the WOW factor. They usually offer huge living spaces (compared to same price new ones) and can be updated slowly. You can create your own WOW factor. Either way, location is still the most important factor in any purchase.