Location, Location, Location!

The saying may seem overused, but that's because it's so true – location, location, location is the number one determining factor in choosing a condominium.

Whatever claims developers make about location, ultimately it's up to you to determine what's hot and what's not. If you intend to live in the condominium you purchase, then consider your lifestyle needs. If you are buying a condo as an investment, remember that buildings situated on the waterfront, close to public transportation and in established neighbourhoods are always in demand. You may also consider purchasing in an up-and-coming area to get in on the ground floor while prices are good so you can reap more return on investment when you eventually sell.

With so many condominiums on the market in Toronto, how do you narrow down your location choice? Answer a few questions. Do you want or need to live close to family? Do you own a vehicle, or is it necessary for you to live near public transportation? If you drive to work, what will the commute be like from your potential choices? (And don´t simply measure distance to estimate. Take a look at traffic and different routes, and better yet, get out there and drive the commute during rush hour before you make your decision.

Other considerations might involve views. If you work in an office tower in the heart of the concrete jungle, you may want to come home to surroundings that include the greenery of an adjacent park. Perhaps you are a regular theatre- or opera-goer; living within walking distance of theatres and restaurants may be ideal.

Go jump in the lake

If that statement sounds like heaven to you, maybe a lakeside condominium is the best choice. For those who keep a boat moored on Lake Ontario, lakeside living is convenient in more ways than one. Imagine breathtaking water views and a sandy shoreline being part of your everyday life. Active Toronto residents who live along the lake also have easy access to the Martin Goodman Trail, which invites walking, jogging, bicycling and inline skating along a 22 km pathway that leads through scenic parkland. The shoreline is dotted by marinas, and some of the city´s finest dining, entertainment and cultural amenities are within walking distance.

You certainly don't have to head to a cottage to enjoy resort-style living. The appeal is widespread; the cross-section of purchasers who are snapping up suites in Toronto's many waterfront condominium communities covers the gamut of the new home buying market. Remember, too, that the demand for waterfront condominiums in Toronto is increasing, yet there is only so much shoreline to go around.

Whatever location you choose, be sure to think about the many parameters of location before you sign on the dotted line.

Linda Mitchell    Monarch Construction