When it comes to ultra-luxurious condominiums, Toronto is home to some of the finest in the world. Among these are posh penthouses and spacious suites situated atop five-star hotels. With Toronto coming into its own as an international cosmopolitan city, we are attracting wealthy purchasers who have discretionary income in the millions, and they appreciate the value – yes, value – they find in real estate here compared to the rest of the world.
We also have an aging baby boomer population, with individuals and couples who have enjoyed transference of wealth and can afford the most luxurious of condos. These folks are ready for some pampering, and they want to leave physical labour in the form of upkeep and maintenance to someone else. They also have so many amenities under their roofs that they rarely need to drive to exercise, be entertained or run errands.
When it comes to luxury standard, however, keep in mind that all of today’s condominiums are graced with superb architecture, exquisite design and elegant features and finishes – no matter what their square footage. Owners of brand new condominium suites definitely live a more luxurious lifestyle than those who purchased condos decades ago.
For one thing, when you purchase any new home, you benefit from the latest design and construction standards, as Ontario Building Code is regularly amended to increase quality. You also enjoy a higher energy-efficiency standard than ever before.
In addition, by North American standards, the appointments that come with our new homes here are far and beyond what builders offer south of the border. Our builders offer numerous standard appointments that were once included only as upgrades. Nowadays, it is common to see granite and quartz countertops, porcelains, marbles, woods, energy-efficient appliances (some even stainless) as standard. You may find everything you could wish for right in your Schedule A without having to upgrade.
One of the most exciting things about buying new is the colour selection appointment, where you choose the standards and upgrades (if desired) that transform your surroundings to reflect your personality and tastes. With future resale in mind, you might decide to spend extra for options, and the breadth of the selection is remarkable. For the best return-on-investment, focus on the kitchen and bath(s) first. Next on your list should be flooring, which can have a major effect on resale value someday. Hardwood may be included as standard, but if not, consider it carefully. For so many families today, allergies are an issue, and hardwood is simply healthier than carpeting. It’s easy to clean, and today’s open-concept spaces can be transformed with area rugs.
When you start with a new home or condo, even if you go for standard features and finishes across the board, you will enjoy a level of luxury that is the envy of people around the globe. Whatever their life circumstances, many new homeowners today actually move up in luxury and comfort when they choose a condominium. I say go for luxury. Go condo!