Tag Archives: Lofts

the42 Condos in Waterloo

Have you see the42 Condos yet?

This mid rise condo development was just completed this year, and has a prominent Uptown Waterloo location at Bridgeport & Peppler.

Momentum Developments is getting a lot of love around Waterloo these days for the release of their new development, RED Condominiums, which debuted last night to a VIP crowd and proceeded to sell out half the building.

the42 Condos on Bridgeport

The residential condos were completed this summer, and the building was registered as a condo last month.  Once a condo building is registered, owners receive title (ownership) and can sell their units on the MLS if they wish.

the42 Condos Resale Prices

Since registration, two condos have sold at the42, and the prices bode very well for everyone who bought back in 2008 during pre-construction.

A 2 bedroom unit was just sold by a private owner, and it sold for $392 per square foot.

A second unit was sold, and it hit $400 a square foot.

the42 Condos have been a very good investment so far – the average price was under $300 per square foot when these were sold pre-construction.

the42 Condo Interior Images

PS – remember these great pics? They’re from a 2 bedroom + den at the42 owned by WonderfulWaterloo member Sampson

the42 condos

Feel like there is more natural light in this kitchen than most other?  You’re right.

The owner of this residence worked with the builder to customize the floorplan, moving the kitchen adjacent to the terrace and it’s wall of windows.  I think it looks terrific – and it’s unique.

Notice the low VOC bamboo floors, just one of the lower impact “green” options that Momentum Developments offered at the42.

the42 Condos For Sale

For pricing & availability of the42 condos in Waterloo, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

If you are interested in other Waterloo Condos, let us know what you are looking for. We have a selection of condos available under $200,000, as well as other pre-construction developments.  Whatever type of real estate investment you’re looking for, we can help you with it.

There are currently two units at the42 condos for sale – let me know if you’d like to set up a private tour.

Investing in Condos in Kitchener Waterloo

How do you decide which pre-construction condos to invest in?

I was recently talking to a few people in one of the Wonderful Waterloo forums about the new City Centre Condos coming to downtown Kitchener – about 380 units in two towers (one with 17 floors, and a second 14 floor tower).

City Centre Condos in Kitchener, Ontario

The topic of Investing in Condos came up, and one of the members mentioned that they had chosen to put their hard earned investment capital to work at 144 Park, a pre-construction condo being built in Waterloo.

144 Park, Waterloo Ontario

Curious, I asked why they prefered 144 Park over the City Centre Condos.

The real estate investor replied:

“There are many things at this point that makes me feel it [144 Park] is a good deal and not limited to:

  • price per sqft. I paid $340, whereas depending on the unit at CC, they are up to $370 including parking and locker*
  • assured it will be built by 90%+ units being sold
  • timing. Who knows when CC will have occupancy
  • across the street from Vincenzo’s and Bauer Kitchen
  • the area around King & Allen is ripe for more big development
  • in building amenities
  • availability of bigger units
  • proximity to Sunlife for rentability

If you want a bigger town feel, City Center will be surrounded by more, but downtown is still a few years away from that. I mean more within a few steps, not a few blocks.”

With Bauer Lofts next door to 144 Park, it’s already desirable. I really like that Vincenzo’s and Bauer Kitchen are across the street. I think that will appeal to a lot of people who desire condo living.”

I found this perspective very interesting. I have a number of friends who have bought at City Centre in Kitchener, and a few clients who have been interested in 144 Park in Waterloo; none of them have yet bought at 144 Park.

I think they’re both great projects, in premium locations. Clearly 144 Park is more upscale, but that doesn’t mean it will be a better (or worse) investment.

What do you think?

(PS the quote above is from someone on an internet forum. It’s not advice or fact from me, and it shouldn’t be taken as investment advice. Talk to me or another professional for individual advice for your specific situation before making a large financial decision)

photo by spaceamoeba

 

Before you Buy a Condo in Waterloo, know this!!

Dont Get Burned – 3 things to check out when buying a Condo in Waterloo

When you buy a condo in Waterloo there are some specific things you want to look for.  Doing your research on this end – before you buy the condo – can save you lots of money, time and headache.  Do your research first

Location Location Location

Is the condo you’re looking at in a prime location? Will the location appeal to a buyer in 5 or 20 years when you sell and move on? Will the condo rent well to a tenant looking for a home to lease? Is there shopping nearby, and schools?

These are all great questions, and they’re important whether you’re buying a condo to live in, or as an investment for your future. 

Location is the one part of a property that an owner can’t improve (as opposed to upgrading the kitchen, for example), so choose wisely.  Consult with a Realtor like Benjamin Bach if you have any questions about the area in Waterloo that is best suited for you.

What shape the Condo is in

Some people are looking for a fixer upper, but usually not in the condo complex they’re buying! It’s one thing if the unit you’re buying needs some ‘lipstick’ to make it pretty, but if the condo complex is in rough shape, this will cost you money (condo fees usually go up in those sorts of buildings) and make it harder to rent and resell your condo (since ‘curb appeal’ will be lower).  Buy something in a place that looks nice; you’ll do well down the road.

Is the Condo Corporation Healthy?

When we buy a condo in Waterloo like 144 Park or Bauer Lofts, we are also buying into the condominium corporation, which runs and manages the condo buildings and related issues.  So, they take care of maintenance, repairs, social/political issues within the complex and more. 

If the financial health of the corporation is not sound – they don’t have enough money in a reserve fund to cover unexpected expenses for example – they will likely come to their shareholders (all the owners) to make up the shortfall.  Having this happen every year can get tedious, so we verify the health of the corporation by reading the Status Certificate before ‘firming up’ the agreement to purchase and sell.

 For more information on condos in Waterloo or any other real estate questions,  contact Benjamin Bach @ Benjamin@BenjaminBach.com, or call me at 519-772-4376

Related posts:

Real Estate Investment Tip: Raising Rent on Rental Units in Ontario

Kaufman Lofts in Kitchener Waterloo – A Real Estate Investor’s Perspective on the Condos

WARNING: If you think an RESP will pay for your baby’s college education, you’re wrong

Would you rather have 1 condo in Kitchener Waterloo or 2 ?

An investment property for $120,000 ? I don’t believe it !

A new addition to our Kitchener Waterloo Real Estate Investment Portfolio

How to get the best deal when Investing in Real Estate

Top 10 Reasons to Invest in Kitchener Waterloo Real Estate

Do you have enough money to retire the way you want to ?

West Coast Condo Prices Sky High

New Report Released About Kitchener Waterloo Real Estate