The 3 Types of Toronto Condos: Don’t Pick the Wrong One 📉 | Tom Storey

The Gist

Toronto condos fall into three distinct building categories based on construction era, with units built between 1996 and 2015 offering the best balance of floor plans, maintenance fees, and parking availability. Avoid investor-grade buildings from the last decade, which feature tiny floor plans and lack basic amenities like parking.

Quick Overview

Toronto features over 2,800 condo corporations spanning 5,000 active listings, and buying in the wrong building category destroys long-term investment value. Host Tom Storey divides the city's housing stock into three distinct eras: investor buildings, in-betweeners, and older condos. Using the STAMP formula (Size, Tenancy, Asking Price, Maintenance Fees, Parking), buyers can evaluate any unit to ensure future resale strength and avoid crippling maintenance fee surprises.

Key Points: Toronto contains over 2800 condo corporations offering more than 5000 active units for buyers to choose from. Investor buildings constructed between 2015 and today feature small floor plans, mostly one-bedroom layouts, and frequently lack parking spots. In-between condos built from 1996 to 2015 represent the market sweet spot with balanced owner-occupancy, reasonable maintenance fees, and functional layouts. Older buildings constructed before 1995 provide the largest square footage and stable reserve funds, making them ideal for downsizers. The STAMP formula evaluates properties across five distinct metrics including Size, Tenancy, Asking Price, Maintenance Fees, and Parking. Most one-bedroom plus den units should exceed 600 square feet to maintain comfortable living standards and future resale viability. Maintenance fees in well-managed buildings should remain under one dollar per square foot to prevent unexpected financial burdens.

Context: Tom Storey, head of the top condo team in Toronto, breaks down the local real estate market to help buyers navigate over 5000 active listings. Because not all condominiums are created equal, understanding the structural differences between building eras is essential for making a sound purchase.