Etobicoke Condo Townhouse vs.Freehold Townhome

Here is the information you need to get an idea of what is happening in Condos and Townhomes in Etobicoke.

Etobicoke is divided into 5 districts starting at Lake Ontario all the way up to Steeles Avenue. They number as W6,7,8,9 and 10. I have maps on my newsletter at the home site to show you the borders of each district.

W6 stats from the Lake and goes north to the QEW.
The market is divided into three categories that are the types of Condos. Agents list them as Condo apartments, Condo Townhomes and Freeholds (not a Condo) but similar in concept. The difference between these Condos and freeholds lies in the Maintenance fees and the Insurance premiums primarily.

I have found is that maintenance fees must be voted on by the board of directors and then the owners must ratify any increase. Normally, maintenance fees would only go up by 1 to 5% at about the most.
With the newer complexes they are fixed for the first 3 years and then escalate very slowly. The status certificate is a document that shows current and future budgets and will indicate any potential increase in maintenance fees over the next year and sometimes longer. Just depends on the range of the future budget.
Low maintenance fees would be in the range of about $90 to $175. I would think that higher maintenance fees are in the range of $250 and up. There are many complexes in Etobicoke and surrounding areas that have low maintenance fees.
Also, the maintenance fee covers grass cutting, snow shoveling, garbage removal, common area lighting etc. Most important it covers your building insurance. Thus, you require less property insurance as you only need to insure your contents. I would say that you would save about $200 from your insurance premium in a condo townhouse versus a freehold townhouse, maybe more.

Now in W6 27 Condo Apartment sold , 18 1bed, 8 2bed and 1 3bed for an average sold price of $297,041. On average it took 50 days to sell them.
5 Condo Townhouses Sold 2 2 bed, 3 3bed for an average of $383,800 taking 44 DOM(days on market).
5 freeholds sold 1 2bed, 3 3bed and 1 4bed average $375,600 DOM 25.
It takes almost half the time to sell a Freehold than a townhome or apartment largely due to the number of units available.

Call me to find out the stats in your District. I will be happy to forward them to you.
For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com