Amit & Roy were recently invited to a special VIP Event at the new Development "Chaz on Charles" by Edenshaw Homes located in the highly sought after "Yorkville" neighbourhood in Toronto, by Yonge & Bloor.
"Chaz is good, Chaz is fun" was the general message from the event – with a lot of emphasis placed on the consumer "having a good time while living at Chaz". Very cool new amenities including a 3D Theatre, A Games Room (With gaming chairs, steering wheels etc.) and the "Chaz Club", a two-storey place for residences to hang out and grab a drink with your friends.
The development offers some great standard features, and is located in a prime location. Just a couple of blocks from the infamous "One Bloor" development and offers good competition to some of the other new developments in the area such as "Five Condos" and "Nicholas Residences". When purchasing a new development, it is important to ensure that you are receiving good value when compared to other developments, so here is a snapshot of other developments in the area:
OTHER NEW DEVELOPMENTS
|Development||Address||Price Per Square Foot||Occupancy||Parking||Deposit Structure|
|Chaz on Charles||45 Charles St. E||Approx $600-$650||June 2013||$45,000||20% + 5%|
|One Bloor||1 Bloor||Approx $800||Fall 2014||$47,500||20% + 5%|
|FIVE Condos||5 St. Joseph St.||Approx $600-$650||November 2014||$45,000||20% + 5%|
|Nicholas Residences||75 St. Nicholas St.||Approx $660-$750||May 2013||$45,000||20% + 5%|
It is also important to understand the current re-sale trends of nearby and similar buildings. While today's buildings may not offer the same quality of finishes and amenities as the new building, it is important to understand today's market and to make sure that you are not paying over the odds for the new construction. The resale market can also give us amazing insight as to how the property has appreciated in those areas. By studying the past trends, we have something that will allow us to predict where our investments will end up in 3-4 years. On average the appreciation rate in the GTA is 4.5%, and if a property has an appreciation rate of 7.2% it will double every 10 years. That makes these apprecation rates even more impressive.
|Address||Approx Price/Foot||Approx Appreciation Rate|
|33 Charles – "Casa"
||Approx $575-$650||9-12% per year|
|100 Hayden||Approx $550||9-11% per year (last 5 years)|
CURRENT RENTAL MARKET ON CHARLES
When investing, it is extremely important to understand the rental market. While many investors may look to sell the condo as soon as possible, there may be various reasons that arise where that is not possible. The savvy investor will keep all options open, so it is important to know the rental figures that you can expect. The figures below are taken from other buildings on Charles. If you are interested in more detailed analysis of the rental market in this area, don't hesitate in contacting us.
|Studio||$1250-$1350 per month|
|1 Bedroom||$1400-$1500 per month. Some 1 bedrooms are leasing as high as $1800|
|1+1 Bedroom||$1600-$1800 per month|
|2 Bedrooms||$2000-$3000 per month|
Overall, I believe that Chaz on Charles is a terrific development and offers some very good investment opportunities. VIP buyers (contact us if you are interested) will have their assignment fee dropped from $5,000 to just $500 making it a very interesting project for investors. Deposit structure is in line with other developments in the area, but more than some of the other developments (DNA3 at King West, Trinity Lofts in the Distillery District who are 15% + 5% on occupancy). Yorkville has been growing at approx 10% per year (based on nearby resale condos), and with the new wave of buildings coming up in that area there is no reason that will not continue. With that in mind, the potential for growth in value of these developments is huge and there is great potential for money to be made with these developments.
Here are few key points as to why we believe Chaz to be a great investment opportunity:
a) Location – Located in the heart of Toronto nearby high end stores such as Holt Renfrew.
b) Value and Appreciation Rate – As already discussed, I believe that Chaz offers great value when compared to the other developments. On top of that, we are in a very high appreciation area and you WILL make money when investing here.
c) Assignment clause – these clauses allow you to leverage your money like no other investment. The assignment fee is just $500 when you purchase through a VIP broker such as myself.
d) Amenities & Finishes – Chaz offers terrific amenities with some very forward thinking ideas that are designed to make your life at Chaz "fun". The finishes in the units are of a very high standard with high quality throughout.
If you are interested in getting more information including floorplans and more detailed pricing, don't hesitate to contact us using the form below.[contact-form 1 "Contact form 1"]
Interested in other great developments in Toronto? Click Here for our list of major developments currently selling to VIP agents. Other HOT Developments: Backstage | Tableau | Studio | The Mercer | Chaz on Charles | Bisha