Buying A Yorkville Toronto Condo? What You Need To Know Before You Buy From barbeques to unit renos, pets and parking.
Consider the condo unit's view or exposure. What will that view look like in the future?
Yorkville is one of Toronto's most fashionable and exclusive neighbourhoods. Here charming Victorian houses co-exist with sleek luxury condos, boutique hotels and designer shops. However the Manhattanization of Yorkville continues as much of the low rise commercial real estate is being transformed into new high rise residential condo buildings.
It's absolutely critical to find out if there is any new construction planned or proposed that will impede on your unit's view down the road. A good real estate agent who follows the latest condo developments will be able to paint a picture of what your suite's view and the Yorkville skyline will look like in the future.
Many Yorkville condo buildings do not allow the use of barbecues on balconies due to the risk of fire or smoke entering neighbouring units. Yorkville condo buildings that do permit barbeques are usually ones with gas hook-ups on balconies such as The Regency at 68 Yorkville Avenue.
Some Yorkville condo buildings only permit specific units that have large terraces or no units above them to have barbecues. Other condo buildings provide an outdoor common element area with barbeques such as The New Hazelton Lanes at 77 Avenue Road.
Many condo buildings have banned barbecues altogether or do not permit propane tanks to be transported by elevator. If you love to barbeque its best to check the condo building's by-laws before you buy.
How is the condo unit heated or cooled?
Many luxury condo suites in Yorkville have their own furnaces and central air conditioning systems located in the mechanical or utility room of their suite. This allows residents to turn on the heating and air conditioning year around. Other condo buildings get their heat and cooling from the building's centralized system and residents have to wait until the condominium corporation turns on the heat or air conditioning for the season.
Where is the parking space located?
Newer condominium buildings in Yorkville tend to be built on smaller footprints making for tighter parking spaces. Check to see if its easy to get in and out of the parking spot and if the spot is close to the elevator. In some Yorkville condo buildings it is also necessary to take two elevators to access the resident parking from your suite rather than having one direct elevator ride.
Is there visitor parking?
As a downtown Toronto neighbourhood, parking is a premium in Yorkville. Many Yorkville condo buildings have a limited number of guest parking spots. If you are considering a condo building that has no visitor parking it will be necessary for your guests to find parking in nearby public parking lots.
What is the age mix of people who live in the condo building?
A good way to ascertain this is to sit in the condominium lobby and see who comes and goes. Is it mostly seniors, professionals, students, or families with children?
What percentage of units are rented out as compared to owner occupied?
If you are purchasing a unit that you plan to live in, choosing a condo building that has a high percentage of renters could prove problematic as renters are less likely to take care of their units and the common elements. Moving in and out of units also causes general wear and tear to the building facilities including the elevators causing the condo building to age more quickly.
Are renovations of a condo unit allowed?
If contemplating major renovation of a condo unit you will require board approval as any interior renos of a unit have the potential to alter or impact the common property or other units. Board approval protects all unit owners as it ensures proper permits are obtained if required.
Also be aware that tradespeople and workmen are restricted to certain daytime hours to do renovations, usually during the week and not on weekends.
Victoria Boscariolis a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.