First-time condo buyers stay under $550,000 budget with Moss Park condo

property.caAgent Rebecca Colwill spent several weeks showing her clients 30 different properties from Scarborough to downtown Toronto, to see how far they could stretch their $550,000 budget. The first-time buyers made their only offer on this one-bedroom unit near St. James Park and successfully negotiated $24,999 off the asking price.

“We were able to negotiate on it because it had been on the market for a little bit of time,” said Ms. Colwill. “We did see a couple of other properties that did have bidding wars, so we stayed clear of those because we didn’t want to get involved,” she said. ”They’re first-time buyers, so we wanted to make sure we were able to have conditions, like financing and status review.”In the north tower of a 14-year-old condo complex called Vu, this corner unit has floor-to-ceiling windows throughout, including the kitchen, and a wide balcony at one end of the living room with exposures to the east and south.

“It’s in a great central location, so you also had a skyline view. You could see the CN Tower and the lake.”

Source: News Formal (newsformal.com)

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