In a market as unpredictable as Toronto real estate, it’s easy to second-guess your decisions—especially when looking back at properties bought or sold in previous years. While there have been moments of regret, particularly around selling a well-positioned loft that later appreciated significantly, one condo stands out as a decision that continues to make sense today.
This article unpacks why holding onto this specific condo purchased in 2018 has proven to be a smart, long-term move, even as the market has shifted dramatically.
A Market That’s Always Moving
Toronto’s condo market has seen sharp rises and sudden slowdowns over the last decade. After a peak in 2022 where prices soared, values have since recalibrated, leaving many to wonder whether to sell, hold, or buy.
The condo in question was purchased during a quieter period—just after the 2017 market cooled due to government policy changes like the Ontario Fair Housing Plan. While the timing wasn’t ideal in the eyes of many, the property’s fundamentals made it a worthwhile investment.
Why This Condo Still Makes Sense
Despite all the fluctuations, this property continues to hold its value and offer long-term potential for three key reasons: location, functionality, and market fit.
1. Location Matters—Always
No matter the market, location remains the one thing that can’t be changed. This condo is situated near major lifestyle and cultural hubs: close to The Well, Stackt Market, and within walking distance of King West and Queen West. It’s well-connected to transit, making access to Union Station and the Lakeshore straightforward.
Whether it’s for a weekend visit or full-time living, this area remains highly desirable. That enduring demand adds resilience to the property’s value.
2. Not All Condos Are Created Equal
Much of the criticism around condos today—terms like “shoebox in the sky” or “cookie-cutter units”—comes from poorly designed spaces. But some buildings still prioritize livability.
This particular unit, while modest in size, checks essential boxes:
These are the types of features that separate a strong investment from a short-sighted purchase, especially in a market filled with compromises.
3. The Price Was Right
Purchased in 2018, this condo wasn’t bought during a market high. In fact, prices had dropped significantly since 2017, and the environment was far from competitive. At the time, it didn’t seem like a home run. But that lower purchase price helped create a margin of safety—and ultimately a property that could appreciate while remaining financially sustainable.
Timing the market is never easy. Instead, the focus was on buying a property with good fundamentals in a strong location that could serve as both a home and future rental. That strategy paid off.
What Buyers Should Learn From This
Today, with higher inventory levels and a cooling market, buyers may find better prices—but only if they know what to look for. Here are a few timeless principles:
This article unpacks why holding onto this specific condo purchased in 2018 has proven to be a smart, long-term move, even as the market has shifted dramatically.
A Market That’s Always Moving
Toronto’s condo market has seen sharp rises and sudden slowdowns over the last decade. After a peak in 2022 where prices soared, values have since recalibrated, leaving many to wonder whether to sell, hold, or buy.
The condo in question was purchased during a quieter period—just after the 2017 market cooled due to government policy changes like the Ontario Fair Housing Plan. While the timing wasn’t ideal in the eyes of many, the property’s fundamentals made it a worthwhile investment.
Why This Condo Still Makes Sense
Despite all the fluctuations, this property continues to hold its value and offer long-term potential for three key reasons: location, functionality, and market fit.
1. Location Matters—Always
No matter the market, location remains the one thing that can’t be changed. This condo is situated near major lifestyle and cultural hubs: close to The Well, Stackt Market, and within walking distance of King West and Queen West. It’s well-connected to transit, making access to Union Station and the Lakeshore straightforward.
Whether it’s for a weekend visit or full-time living, this area remains highly desirable. That enduring demand adds resilience to the property’s value.
2. Not All Condos Are Created Equal
Much of the criticism around condos today—terms like “shoebox in the sky” or “cookie-cutter units”—comes from poorly designed spaces. But some buildings still prioritize livability.
This particular unit, while modest in size, checks essential boxes:
- Functional layout with dedicated space for both a couch and TV
- A bedroom with a real door
- Full-size washer and dryer
- Sleek, built-in kitchen appliances
- A modern, turnkey bathroom
- And, as a bonus, a spacious balcony that provides natural light and usable outdoor space
3. The Price Was Right
Purchased in 2018, this condo wasn’t bought during a market high. In fact, prices had dropped significantly since 2017, and the environment was far from competitive. At the time, it didn’t seem like a home run. But that lower purchase price helped create a margin of safety—and ultimately a property that could appreciate while remaining financially sustainable.
Timing the market is never easy. Instead, the focus was on buying a property with good fundamentals in a strong location that could serve as both a home and future rental. That strategy paid off.
What Buyers Should Learn From This
Today, with higher inventory levels and a cooling market, buyers may find better prices—but only if they know what to look for. Here are a few timeless principles:
- Prioritize location: It’s the one variable you can’t fix later.
- Don’t settle on layout: A functional space will always outperform one that just looks good on paper.
- Think long-term: Whether the plan is to live in it or rent it out later, consider if the property can meet those needs.
- Renovation costs matter: A cheaper unit that needs a full overhaul might not actually be the better deal.
