The Slater | 66.6 m | 22 fl | Completed

[Boxster]

I guess I could live in a 500 sq ft condo. However, I still feel better in a 1,200 sq ft area....nice and roomy to entertain.

[OTSkyline]

My quote rings true even for myself.. In the next year or two I will be looking to buy my own place and as it stands; being fresh out of school and single (therefore the only one paying), if I want a nice condo downtown (which I do), I will only be able to afford a 1 bed around 500-600 sq ft... for $250-300K.

I think people who do end up living in smaller spaces realize it's not the end of the world, like I did.. I am currently renting a 600-650sq ft condo for me and a roomate and honestly, it's not that bad and I could definitely live comfortably in such a space. But still, to be honest, if tomorrow the prices would magically become affordable on bigger places; I would definitely buy a bigger one. Oh the Canadian/American greed...

[Urbanarchit]

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[cr872190]

Originally Posted by defishel

Which condo did you say you bought into?

The thing to remember is that no matter the size of the home you choose one will always feel claustrophobic if you spend all of your time in your unit and decorate it like the Victorians did. There's also some human condition where we always desire more and bigger. Even if your unit is 1000 square feet, you'll want it to be 1500. If it's 1500, you'll want more.

Like 1overcosc I had an apartment that was 250sqft. I would have liked to have a bit more room, but it was great. I had a fridge, a small couch that folded out as an extra bed, a single bed, a large table. With 550 sqft, I'm sure you'll have more than enough room to live comfortably.

Tamarack Wellington. I think the floorplan uses the space pretty well.

[1overcosc]

Layout is very important. A very small unit can feel bigger if its laid out well. Conversely, a larger unit can feel like a shoebox if its not laid out well.

Always judge a place by its floorplan, not its square footage.

[1overcosc]

Originally Posted by cr872190

Tamarack Wellington. I think the floorplan uses the space pretty well.

That's a really good floorplan. Storage/closet space is a little limited (looks like just a coat closet and a bedroom closet.. no toiletry closet) so you might have to invest in a cabinet for extra storage space.

[J.OT13]

I'm in a similar situation as a lot of you. I'm contemplating buying my own place right now and I have the choice between 400 square foot downtown or 1,300 square foot semi-detached out in Buckingham. Considering I am currently single, therefore do not need 3 bedrooms, 2 bathrooms, and would much prefer living close enough to work that I could actually walk (saving around $10,000 by not purchasing a new car once my current vehicle reaches the end of its useful life (knock on wood)), downtown is a much better option.

[canabiz]

Originally Posted by J.OT13

I'm in a similar situation as a lot of you. I'm contemplating buying my own place right now and I have the choice between 400 square foot downtown or 1,300 square foot semi-detached out in Buckingham. Considering I am currently single, therefore do not need 3 bedrooms, 2 bathrooms, and would much prefer living close enough to work that I could actually walk (saving around $10,000 by not purchasing a new car once my current vehicle reaches the end of its useful life (knock on wood)), downtown is a much better option.

What about something like the Essence at Jade Condo Flats in Barrhaven (also by Richcraft) ? 1,070 sq.ft for $232,900, right by the transitway (downtown/work in 30+ minutes via bus, possibly less when LRT Phase 2 extends to Baseline) while still within walking/biking distance to all amenities and nature trails.

http://www.richcraft.com/earlyoccupancy.html

Just thought I'd throw it out there as another option because you certainly have a lot of choices in this slow(er) real estate market where builders are throwing in all sort of incentives/bonus.

[J.OT13]

Originally Posted by canabiz

What about something like the Essence at Jade Condo Flats in Barrhaven (also by Richcraft) ? 1,070 sq.ft for $232,900, right by the transitway (downtown/work in 30+ minutes via bus, possibly less when LRT Phase 2 extends to Baseline) while still within walking/biking distance to all amenities and nature trails.

http://www.richcraft.com/earlyoccupancy.html

Just thought I'd throw it out there as another option because you certainly have a lot of choices in this slow(er) real estate market where builders are throwing in all sort of incentives/bonus.

Those do look really nice. Surprised you can get something that big in Ottawa, but my absolute max is $200,000.

[cr872190]

Originally Posted by J.OT13

Those do look really nice. Surprised you can get something that big in Ottawa, but my absolute max is $200,000.

Have you been able to find anything at that price? Even for a studio thats gotta be tough to stretch.

[canabiz]

Originally Posted by cr872190

Have you been able to find anything at that price? Even for a studio thats gotta be tough to stretch.

The below article is about a year old so some of the information may no longer be valid but there are a fair number of projects with units starting under $200K, depending on your needs and flexibilities

http://www.ottawacitizen.com/homes/C...989/story.html

[J.OT13]

Originally Posted by cr872190

Have you been able to find anything at that price? Even for a studio thats gotta be tough to stretch.

Only one downtown is Bowery. Though I checked earlier this morning and there are a fair number of decent sized units (1 bed, 1 bath) under 200K. Problem is, condos fees in older buildings are significantly higher.

[Urbanarchit]

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[ServiceGuy]

Originally Posted by J.OT13

Problem is, condos fees in older buildings are significantly higher.

That is because they have been adjusted for reality. Builders notoriously set condo fees low from the beginning to make things look attractive.

[canabiz]

Originally Posted by ServiceGuy

That is because they have been adjusted for reality. Builders notoriously set condo fees low from the beginning to make things look attractive.

A big reason we have not even thought about condos. Condo fee, to me, is just another tax and something we don't have much control over. It's fine and dandy if you want to let other people shovel the snow and mow the lawn to free you up for other endeavours but expect to pay for the convenience.

Good luck with your search, J.OTT! It wasn't that long ago $200K will net you something decent downtown but the ship has apparently sailed since...but everyone will have to start somewhere!

[cr872190]

Originally Posted by canabiz

A big reason we have not even thought about condos. Condo fee, to me, is just another tax and something we don't have much control over. It's fine and dandy if you want to let other people shovel the snow and mow the lawn to free you up for other endeavours but expect to pay for the convenience.

Good luck with your search, J.OTT! It wasn't that long ago $200K will net you something decent downtown but the ship has apparently sailed since...but everyone will have to start somewhere!

My parents hesitated at first too because of condo fees. But when you factor in what you would spend on an older home in terms of heat, air conditioning, water, snow removal, lawn care, security system, maintenance on furnaces/ACs/hot water tanks, plus money saved indirectly on insurance (condo insurance is a fraction of home owner and car insurance goes down once you're parked indoors in a secured lot) it starts to not seem like much less of a burden.

[canabiz]

^ Yes those are valid points but I believe people go through phases in their life. Do I want to house my kids and pets and/or entertain my extended family and circle of friends in a 850 sq.ft condo? I think the answers are pretty obvious but I do appreciate the choices people make and we won't rule out condos when we are close to retirement.

[cr872190]

Originally Posted by canabiz

^ Yes those are valid points but I believe people go through phases in their life. Do I want to house my kids and pets and/or entertain my extended family and circle of friends in a 850 sq.ft condo? I think the answers are pretty obvious but I do appreciate the choices people make and we won't rule out condos when we are close to retirement.

Yeah I guess being a single male under the age of 25 a condo just made sense since, and for a retired couple it also fits into their lifestyle. With a family in the equation a house definitely makes more sense.

[LeadingEdgeBoomer]

Originally Posted by canabiz

^ Yes those are valid points but I believe people go through phases in their life. Do I want to house my kids and pets and/or entertain my extended family and circle of friends in a 850 sq.ft condo? I think the answers are pretty obvious but I do appreciate the choices people make and we won't rule out condos when we are close to retirement.

Condos are great in retirement. But I choose not to pay the prices to be downtown. Instead, I have a condo townhouse in the east end. The place is well looked after well, I have no complaints--yet the condo fees are relatively modest. I have a swimming pool in summer , a back yard garden, a garage and convenience shopping five minutes walk away (Metro, SDM, dollarama, mac's, a library branch). I keep my interior well maintained.

Off peak hours it takes 12 minutes from my driveway to the Nicholas street off ramp. But to avoid traffic and parking hassles downtown on week days, I have the 94 bus three minutes walk from my condo. It drops me off at the Rideau Center in 24 minutes. Senior fares-- free on Wednesday.

No problem getting downtown from here for a senior with tons of free time.

Condos can be great for retirees, and they do not necessarily have to be downtown.

[Urbanarchit]

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