The Downtown Condo Thread

[G]

It doesn't do much for me being that I basically grew up in Inglewood because my parent's had two restaurants on 9th from the 70's to the late 90's.

[ajooo]

bump

anyone know much about the Mark on 10th condo? specifically 2 bedroom pricing

[BananaFob]

Originally posted by ajooo
bump

anyone know much about the Mark on 10th condo? specifically 2 bedroom pricing

I don't think pricing is up yet. Just got an email update two days ago saying that the sales centre is up in January.

[ducaudi]

How much are some of you guys paying for electriciy/gas/water? Not too sure what is included with the "condo fees". Trying to get a grasp of what to expect.

Can you guys breakdown avg cost of

Property Tax per month
Utilities per month
and Condo fees per month

Thanks!

[XylathaneGTR]

Originally posted by ducaudi
How much are some of you guys paying for electriciy/gas/water? Not too sure what is included with the "condo fees". Trying to get a grasp of what to expect.

Can you guys breakdown avg cost of

Property Tax per month
Utilities per month
and Condo fees per month

Thanks!

Can't really comment on property tax or utilities, but I can give some insight for condo fees.

Basically, they include costs to operate and maintain the common areas of your building (grounds, elevators, gyms, etc) and most of your personal space.
What's include in "personal space" fees varies a little bit from company to company, but usually they include heating, water, natural gas, and electricity to appliances. Telephone, cable and lighting is not included, and some buildings don't include air conditioning, while others do.
Common area fees include sanitation, maintenance and repairs, electricity and water, insurance, telephones (emergency lines in elevators & lobby), reserve funds (a savings fund to be used for major, specialized repairs), and management fees for your condo management/board.

Fees in places I looked at ranged from about $.37/sqft up to $.55/sqft. I don't think it's realistic to run a building on the low side of that range. The high side of that range included places that offered larger, well equipped common areas and, if I recall correctly, a 'front-desk' person (can't recall if it was 24/hr or just at night).

When I did finally buy, everyone was telling me to expect my condo fees to be jacked up within the first year or two. All those people telling me that were also in places that advertised on the lower side (.35-.40/sqft). The developer I purcahsed with hasn't had any fee increases in the first few years of operation at their other properties, and came in at around $.46/sqft.

So to sum up, I would pay 'nothing' for gas or water (because it's included in my condo fees) and my electricity bill would cover my lights and air conditioning, which I expect to be rather small. Quick edit: I'd also be on the hook for my own cable/internet/telephone, obviously.

[ducaudi]

Thanks Xylathane!

Really appreciate it, if you don't mind me asking, where did you buy and the fees didn't go up as much?

[mugenfever]

Originally posted by ajooo
bump

anyone know much about the Mark on 10th condo? specifically 2 bedroom pricing

I haven't seen any updates on the Mark on 10th Condo, but maybe check http://www.calgarycondohub.com. I've seen other projects with price list and floorplans on there.

[chinostyles]

hmm, i didn't find anything yet on Mark on 10th condo. But i found out in the site that there's a project called 1912Cross that's opening next weekend.

http://www.calgarycondohub.com/1912cross-sales-pricing/

[flipstah]

SoBow? First time I've ever heard that term and that place is still sketchy.

[LUCKYSTRIKE]

On their mailing list and got this in the email regarding Mark on 10th:


Early Purchase Incentive: 3% off list price - valid only until January 31, 2013

One Bedrooms From: $199,800

Two Bedrooms From: $353,800

Estimated Construction Start: March 2013

Estimated Completion: Fall 2015


They updated their website with some pics, looks nice but 2015, call it 2016 since these things are never on time - damn homie thats quite a ways away.

http://qualex.ca/mark/residences/interiors/

[roopi]

Originally posted by LUCKYSTRIKE
On their mailing list and got this in the email regarding Mark on 10th:


Early Purchase Incentive: 3% off list price - valid only until January 31, 2013

One Bedrooms From: $199,800

Two Bedrooms From: $353,800

Estimated Construction Start: March 2013

Estimated Completion: Fall 2015


They updated their website with some pics, looks nice but 2015, call it 2016 since these things are never on time - damn homie thats quite a ways away.

http://qualex.ca/mark/residences/interiors/

What does a builder usually require for a deposit for a condo purchase?

[ajooo]

Originally posted by roopi


What does a builder usually require for a deposit for a condo purchase?

the email for mark on 10th said 10%.

[woodywoodford]

Damn, thats when I'm looking to move in but just don't have a downpayment yet

Edit: on second thought, those windows aren't big enough

[XylathaneGTR]

Originally posted by roopi


What does a builder usually require for a deposit for a condo purchase?

It's worth asking if they're willing to work with you. My developer required 10% and I didn't quite have it and I didn't want to borrow it from my parents. They were willing to accept 8% then and another 2 a few months later with no penalties or anything like that, so everyone was happy.

[BananaFob]

Originally posted by XylathaneGTR

It's worth asking if they're willing to work with you. My developer required 10% and I didn't quite have it and I didn't want to borrow it from my parents. They were willing to accept 8% then and another 2 a few months later with no penalties or anything like that, so everyone was happy.

Times have changed. Many lenders that are financing the construction of these condo buildings do not like anything less than 10% nowadays and are also put off by the idea of bonding. The developer would have to get an exception from the construction lender every single time a purchase is below 10%. It's always written into the construction mortgage commitment letters.

[ajooo]

anyone know where the best place/site to check out for latest info on condo developments or new ones that are about to start up?

[Khalil.e]

buzzbuzzhome.com

[flipstah]

I find http://www.calgarycondohub.com/ to be a good one.

[JfuckinC]

http://avenuewestend.com/

just drove by a new fence at this end of downtown.. 5th ave and 10th st..

[Disoblige]

Originally posted by JfuckinC
http://avenuewestend.com/

just drove by a new fence at this end of downtown.. 5th ave and 10th st..

Hahaha, blocking the view of the existing ones on 6th ave.