This is what you can get for $275K in Toronto right now but there's a catch
While this place may be in a millennial's budget, it definitely is not for them. According to the listing, this apartment is actually a "luxury retirement condo".
And even though it's a retirement condo it's still a pretty sweet deal for a condo right by the waterfront!
Or even for a retirement home for that matter. Assisted living can run anywhere between $3,000 to $7,000 a month in Toronto, according to the Financial Post.
The unit itself isn't bad either. It's actually quite lovely.
The rooms are spacious and there are large windows that let in lots of natural light.
The kitchen has all the essentials and there's also a living room and dining room.
There's even a balcony, a sunroom, and an in-unit washer and dryer.
The condo fees are $447.26 monthly and the building has plenty of amenities including a concierge, an exercise centre, a recreation centre, movie theatre and hair salon.
However, the catch is that in order to live here you need to buy into a "mandatory membership package". It costs $1,647.58 a month plus HST and any additional person that lives there is another $223.03 a month.
But the membership gets you four-hours of housekeeping, dining room meal credits, and a 24-hour on-duty nurse.
That being said there aren't any explicit rules that you need to be retired to buy this place and honestly full-service luxury living for less than my rent sounds kind of nice.
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