Condo of the week: 125 Peter Street
So you've got $400,000 to spend on a condo in Toronto. What can you buy? Thinking positively, that number will still get you a downtown location with a great view. Thinking more practically, there just won't be much space to live.
This recently listed unit on the 14th floor at Tableau Condos offers a glimpse of what's on offer in the entry condo market in Toronto these days. While small, it features and open concept design, decent kitchen space, and an enviable balcony with a south-facing view.
It's more than adequate for one person who wants to be in proximity to both the Financial District and prime entertainment areas like King and Queen West, but a unit like this would feel relatively tight for a couple who didn't cite minimalism as one of their design tastes.
Let's be clear, this isn't a micro-condo. There's a legitimate living space and you can even get a small dining room table up against the wall in the kitchen, but thank goodness there's a storage locker because otherwise it'd be a challenge not to overrun the place with stuff.
Someone who wants to get into the market before prices inevitably increase further. For one person, the space is just fine.
A couple looking for their first condo might want to seriously think about buildings outside of the core, where you can get a bit more space for your buck. There are plenty of neighbourhoods where you can get a 1 + 1 for $400K.
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