By: Reza Afshar

Small or Big Condos - Which one sells better?

Tags: Toronto Condos, Size Demands for Toronto Condos

 

 

My clients always ask me what size of condo sells better, big or small. The answer is both! There is always a demand for smaller units as it is comes down to affordability as it is the entry point for first time buyers to get into the real estate market. Smaller units also typically rent easier as many single young professionals make their way to Toronto and rent for a few years before making a purchase themselves. However there is now a big draw for larger units as people are choosing to live downtown instead of moving to the suburbs and need larger spaces to live as couples or even larger spaces to start families. There is a definitely a shortage of sizeable spaces as this trend is outpacing the supply of available units. In the past year,  the most inquires I got were from buyers looking for 2 bedroom or larger units. Five to ten years ago, the popularity sat with the one bedroom plus den condo units but as the home office and personal computers are becoming a thing of the past, buyers prefer to have larger open spaces and use their smart phones or iPads on the couch. All in all, there is a buyer out there of every product, but it is important to keep on eye on the trend. Buyers always want what is new, so it is important to keep a unit up to date and renovated. But whether you have a small one bedroom condo or a larger two bedroom condo in Toronto, either will be a good investment.