If you have $400K to spend on a condo in Toronto, you can afford to live in most neighbourhoods, but you still might have to sacrifice on space if you opt to buy right downtown. A decade ago, this figure would have easily secured a two bedroom condo in most parts of the city, but now you have to weigh size against area and amenities.

This is what a $400K condo looks like in Toronto.

$389,400 at Dundas and Roncesvalles
This loft space satisfies the cool factor, but it's a bit on the small side with one bedroom and no den. On the flip side, there's lots of outdoor space including a sweet balcony. Maintenance fees are on the low side at just over $300 a month.

$394,000 at Humber Bay Shores
This unit is located in one of Toronto's most popular condo communities on the shore of lake Ontario. For just under $400K you get a one bedroom plus den and a balcony that looks over the waterfront. Add to that some decent amenities and reasonable maintenance fees, and you have a condo that will be attractive to car-owners.

$399,999 at Yonge and Lawrence
This one bedroom plus den near Yonge and Lawrence features a sprawling master bedroom as well as a rooftop patio. The corner unit gets lots of light throughout the day, which makes it feel a bit bigger than it is. The downside? Hardcore home cooks will find the kitchen cramped. Maintenance fees come in at just over $300 a month.

$409,500 in the West Don Lands
This River City condo comes with an underground parking spot, a balcony, and a bedroom/den, which helps to make it feel spacious despite relatively small square footage. Area-wise, the West Don Lands are booming, and this development is considered one the nicest among those that have cropped up in the last five years.

$409,900 on Kingston Rd.
The Upper Beaches is starting to see condo development ramp up, which makes lots of sense. Kingston Rd. has become an ever more interesting retail strip, and the lake is just a quick downhill bike ride away. This slick unit features two bedrooms and two bathrooms, which will make it attractive to a wide variety of buyers. Caveat emptor: maintenance fees come in at over $500, though.

$419,900 at Mount Pleasant and Davisville
Located on a quiet stretch of Mount Pleasant south of Davisville, this condo is spread across two floors, with the bedroom and en suite above the kitchen and living area. At over 700 square feet, it's a comfortable size for a couple who like to entertain. The open concept lower floor can accommodate plenty of guests, while the balcony adds usable square footage in the summer.

Would you buy any of these condos? Let us know in the comments.