18 Yonge Street

18 Yonge Street

• New Condos built midway through the condo boom
Located at the corner of Yonge and Lakeshore Blvd.
• 40 floors tall
• South of Union Station and railway tracks

Sharing My Thoughts:

 Toronto Condo Living has taken off over the last few years, and the redevelopment in North York Centre, Downtown Toronto, Mississauga and other areas has been nothing short of mind-blowing. Downtown Toronto and North York Centre might not be recognizable just due to the speed of the construction and development. Although there are some that are opposed to increased condo density, we can't discount the benefits many with regards to increased higher use of transit, walking biking and other alternate methods of  transport as opposed to using the car. Toronto just might be a leader, outside of Manhattan (New York City) in this respect. 

The Toronto Condo Boom

The boom in the Toronto Condo industry which began slowly in the late 1990's and picked up steam in the early aughts (00's) has transformed the look and feel of the City. Highrises are sprouting from all areas of the city, mainly the downtown core, but other areas, such as Liberty Village, Etobicoke Shores, Scarborough, Mississauga City Centre and North York Centre are also experiencing rapid condo growth and densification. Part of it is the design of the provincial government, which wants to attain maximum efficiency of use out of publicly funded transit such as GO Transit, the TTC and regional lines. Plus heavy investment in infastructure such as the Airport Line, The Eglinton Crosstown LRT Line, as well as the Union Station Renovation project all of which will make getting into and out of the core far easier then ever before. At the same time providing a real lifestyle choice to those that decide they enjoy downtown living.

Getting a Mortgage and Mortgage Insurance through Desjardins Group for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at Desjardins Group include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from Desjardins Group is actually one of the major financing costs on home loans.

Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold. Currently investors are looking to increase their position in rental properties in Toronto, at the same time the federal government in co-operation with the financial institutions are making getting and qualifying for loans and mortgages more difficult

Desjardins Group : What is Condo Insurance?
Condo Insurance is required to protect your personal contents from theft or fire damage in your condo if these unforeseen events should happen you should make sure that you have adequate protection. Some items in your condo are will also be protected by your condo association insurance policy which covers the general building. The events that are covered by condo insurance include Fire, as well as Lighting. Other weather related causes such as Windstorms, and Hail are also covered. The major one that most people worry about is theft which is covered by condo contents insurance policies.