Willowells | 15fl | ?m | Proposed

[danbrotherston]

The units are large (albeit "traditional" in layout) as well, they definitely seem to be an amazing value for the money. Makes you wonder what keeps the property values so low? Is there something going on there we don't realize? I mean, there is a route 7 stop at the end of Blue Springs and a 202 stop at Manulife, so it's not like the place is a transit desert.

The condo fees are relatively high at $0.50/sq ft, and if I recall correctly they are on the way up (friends owned a unit there but sold last year). High fees definitely depress condo values.

I understand this, but it's worth doing the math, even a 100k extra debt will make a huge difference in monthly interest costs, even at the low interest rates we have now.  And yes, eventually you will pay this off, but having a huge amount of cash sunk into a condo has an opportunity cost as well.

The fact is, condos with higher fees and lower costs, I suspect are a better buy.

Also, I had heard rates were going down, notably, because they used to pay fees to the private health club which is closing for this development.