|Shangri La Condos Toronto|
Many young professionals are renting Condos in the downtown Toronto area and are thinking about buying.
Buying Toronto Real Estate for the short term can be expensive with land transfer taxes, Real Estate sales commissions and a risk of short-term declines in the price or periods when buyers just wait on the sidelines.
In buying a downtown Condo, purchasers need to rethink RRSP plans, Tax Free Savings Accounts, even a realignment of their current financial budgets.
Mortgage payments will take a large amount of a purchasers budget but in the end a Condo owner will accrue more and more equity in their own home.
Renters of downtown Condos in Toronto do have more flexibility than an owner in relocating to another City for job reasons or even to a different part of the city for social reasons.
Purchasing a Toronto downtown Condo can be a positive step in lifestyles (walk to work), and contribute in a positive way to ones own future.
Updated & Revised May 2015!
Iris Li, is a Remax Condos Toronto Realtor who specializes in Toronto Downtown Condos, Condominiums and Lofts.
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