Top 4 Mistakes When Buying a (Resale) Condo in Toronto [Part 3]

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#3.  Too Much Focus On The Unit Number:

More specifically NOT buying a unit because it has the #4 in the suite #.

Yes this exists albeit it more rare than buying a house.

Ask any successful full-time Realtor and they’ll tell you than some houses located in predominantly Asian areas can be very difficult to sell if the #4 is in the house number.

Some owners have even applied to the city to have the municipal address changed in such cases.

Now as a side note, every house (and condo) WILL sell if it’s in good condition and priced properly.

It’s just that if it’s in predominantly Asian areas and there is something superstitious about the number or if the driveway backs out into a “T” intersection it might take longer to sell.

You basically have to search for a buyer who isn’t superstitious.

Now back to condos. The very last thing I said applies to condos as well. It will sell in the future. It just might not sell to a superstitious buyer.

However, when it comes to condos you shouldn’t stress about this because even in buildings where they remove the fourth floor from the elevator buttons (if it’s in predominantly Asian populated building) on Land Registry and in the Status Certificate it is still registered as LEVEL 4.

So don’t let the unit number be a deterrent.

If you are thinking of buying a condo in Toronto and want to talk more about how to do it safely and smoothly … I’m always happy to chat. 

Just get in touch with me by email or phone.
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