Canada’s once-blazing real estate market is showing consistent signs of cooling off. Potential buyers who have been watching from the sidelines are wondering if now’s the time to make a move. We’ve rounded up some of our best condo-buying articles to help would-be purchasers make informed decisions.
COLE BURSTON/The Canadian Press
Is now the time to buy?
Cracks appear in Toronto’s new-build condo craze as the investor-supported frenzy fizzles
There are signs the new-construction market is cooling and sales are moving back down to more normal levels.
Bubble trouble: In Vancouver’s housing market, pain has set in
With falling sales and prices, patient buyers are sitting on the sidelines, waiting for sellers to face reality.
The Globe and Mail
Ottawa’s bubbling condo market reveals a desire for more
For Ottawa, a 24-hour turnaround in a brand-new condo building was once unusual, but is now growing more common.
Drawing Conclusions: Should you wait for a market crash before buying a condo?
Regardless of whether housing prices drop, consider these important factors.
LAURA LEYSHON/The Globe and Mail
Home prices continue cooling
The Globe’s House Price Data Centre is where you’ll find the latest real estate prices nationally, by city and in your neighbourhood.
Check out the House Price Data Centre
Global real estate hot spots hit hard by market shift
So far, the market downturns in both Vancouver and Toronto have largely been driven by the detached-house markets, which are typically the highest-priced homes in both cities. If the pain spreads to the condo sector, however, the market declines will be even sharper.
Christopher O Driscoll/Getty Images/iStockphoto
How to finance a condo purchase
Why you shouldn’t take the maximum mortgage you are offered
Despite the temptation to take every cent the bank will lend, exercising some caution can pay off.
Knowledge is power in negotiating your mortgage
Don’t head to your mortgage lender before you do your due diligence.
Rules, rates and reality checks for first-time home buyers
Before you buy, arm yourself with the facts and figures you need to prevent your dream home from becoming a financial nightmare.
Hidden costs of condo buying
How not to get hammered by rising condo fees
The potential for rising condo fees or special assessments plays a big part in deciding whether to buy a new or older condo.
Drawing Conclusions: What can send your condo fees sky high?
Special assessments and other factors can cause your condo fees to increase unexpectedly. Here’s how to prepare.
Delays and rising costs: The risks of buying a pre-construction condo
Weigh the pros and cons before buying from a floor plan, and understand the risks.
Basit Sultani
Condo market news and investigations
Downsizing to a condo? Our calculator shows how little you’ll save
Condos are smaller than houses, but are they cheaper to live in? It’s commonly assumed they are, but this may not be the case.
Looking for the best return in the condo market? Buy old
According to data compiled by Urbanation Inc., the best increases in valuation since 2012 were all in complexes built before 1994.
Fred Lum/The Globe and Mail
Young urban condo buyers: Why not rent instead?
Rent a downtown condo, don’t buy one, writes personal finance columnist Rob Carrick. You still get to live the urban lifestyle and save money in the process.
Anarchy in the sky: The condo dream becomes a nightmare
Bad or unethical condo board governance means that, instead of the dream of hassle-free home ownership, condos often end up becoming a living hell.
LAURA LEYSHON/The Globe and Mail
Flipping of condo units by insiders fuels hot Vancouver market
The Globe and Mail spent weeks piecing together available data on who bought and flipped condos in six new buildings. The investigation revealed a highly profitable game being played by local industry insiders.
Toronto condo projects sold since 2016 in danger of cancellation, analysis finds
A raft of condo project cancellations over the past 18 months has left thousands of presale buyers in the Toronto area out in the cold. Now, a Globe and Mail analysis of dozens of projects where units have been on sale since 2016 has found that many are stalled and some in danger of collapse.
Read the full story
Competition Bureau targets condo renovation industry in criminal probe
Canada’s competition watchdog is probing what it calls “allegations of bid-rigging and conspiracy” involving the region’s multimillion-dollar condo renovation industry.
Toronto’s five decades of condo growth, mapped
It’s been 50 years since the emergence of condos began to redefine Toronto development as we know it.
How to spot a bad condo
You need to consider not just the condo unit, but the whole building before you buy. Here’s how.