Victory Condos by BLVD

Hi all,

Can anyone guide me:

1. what sould be the price of 1 Bed without parking for Victory condo 5th floor W facing.

2. Is it worth investment?

3. How much will be the down payment builder is asking?

Regards
Allan
 
The price for such a unit is what the builder is asking.

Whether it's a worthwhile investment depends on a number of variables on what you plan to do with the property (live in it, rent it, flip it, etc.).

Typically, the builder will ask for 15% of the value of the unit, parking spot and locker (if the latter two are purchased).
 
Victory Condos 1 Bed

Hi,

Thanks for your comments. Pls advise:

a) 265 K is worth buying for 1 bed or not? For spin and make some money in 2-1/2 year?

b) Down 5%.

c) How much increse you are seeing in 2-1/2 year on this investment?

d) Is there any better invetment other than this one on same price of 265K and 5 % down?

e) What are negatives of this building?

RSVP
A.
 
Tough questions to answer. Concerning the purchase, $265K for a one bedroom unit in that neighbourhood is pretty good. Clearly that is a pre-construction price. Not sure if that includes parking or locker, though.

As for making money in two-and-half years, that's a little tougher call. It's hard to know whether the real estate market is topping out now. Honestly, I would not hazard a guess whether one will make a good profit in that time frame. That being said, that area is certainly safe to invest in as it is in high demand.

Good for you if the developer was asking for only 5% down.
 
Victory Condos - King and Spadina

Hi,

Can anyone guide please:

a) What is the price of 1 bed without parking?

b) 264 K with 5% down is good investment for 2-1/2 years?

c) Is it a worth investment for flip after 2-1/2 years?

d) How much increase is expected in 2-1/2 years?

e) Is there any better option than this one?

f) What is the negative of this building?

Regards
A.
 
Allan said:
Hi,

Thanks for your comments. Pls advise:

a) 265 K is worth buying for 1 bed or not? For spin and make some money in 2-1/2 year?

b) Down 5%.

c) How much increse you are seeing in 2-1/2 year on this investment?

d) Is there any better invetment other than this one on same price of 265K and 5 % down?

e) What are negatives of this building?

RSVP
A.
Click to expand...

I was looking into buying here, but didn't end up there.
265K is a decent price for a 1 Bed and was around the price i was looking at for the 1 Bed + Den at Victory.

One of the things i didn't like was that there were barely any amenities and it was one of the highest maintenance fees that I saw (it was approx $0.49/sqft). I also didn't like that the fact that the only unit available for the model I wanted was a North facing balcony which would've most likely been blocked from the sun majority of the time.
 
What is the latest going rate per square footage for this development ? I think M5V was selling for $500 and Charlie was selling for $600 per sqr ft.

Do you guys think these prices will hold up pretty well (relatively) if the market slows down. There are too many condos going up.
 
this area is noisy..Friday,Saturday and even Sunday its a mad house of clubs,traffic and road noise.High maintenance charges for basically no extras(gym,theater,etc,etc.)
 
$527 a sq foot for a 11th floor 735sq foot 2 bedroom, south facing....worth it??

works out to be 388k without parking
 
.49/ per sq. ft. maintenance? Too high or simply an attempt to be realistic for the future. Interesting. The building has few amenities that normally cause fees to rise, so why so high? Possibly too few units in relation to the overall building? Doubt it.

On the other hand basing your decision to buy into a large complex with lots of ameneties being used by many people (therefore very high maintenance) with a .35 maintenance claim for the future make sense?
Really..think about. Which one of the above developers do you think is making an honest assessment and which one probably isn't?....

..and which one will sell to the inexperienced buyer who obviously has no idea that the new condo board of directors will arrive at the TRUE maintenance price, once the dust settles and the builder waves bye-bye?
 
If the 5% down promotion is attractive to you, you might want to consider The Modern on Richmond. They currently have this promotion on 1 bedroom units but only if you are a first time buyer. So this may or may not help you. Pricing is around the low $400s per square foot.

With Victory be very careful of sight lines. You might be getting sold a unit that looks into a wall.
 
I was looking at an 11th floor, south facing unit......would be behind the mini dealership and would easily clear it by like 5 floors.

Not worried about the downpayment or the maintenance fees, just curious about the value....is 388k to much for a 2 bedroom?
 
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