In this episode, David answers a question that will be familiar to plenty of first-time Toronto condo buyers: can you still find a one-bedroom condo under $550,000 in a great neighbourhood, with a real outdoor space? According to David, the answer is yes, but there is a big difference between a listing calling something a “terrace” and an outdoor space you can actually use.
David tours five one-bedroom condos priced between $444,000 and $549,000, ranging from a converted historic bank on King Street East to the Gladstone Lofts. He looks at what makes a terrace worthwhile, how much usable outdoor space can add to a small condo, and the trade-offs buyers need to consider when seeking this increasingly valuable feature.
This week’s picks:
- 01:29 – 230 King St E: A one-bedroom condo in a beautifully converted former bank building, listed at just $444,000. The 495 sq. ft. unit has renovation potential, but the real attraction is its approximately 180 sq. ft. south-facing terrace: a usable outdoor space that David believes makes this an exceptional value for a first-time buyer
- 06:58 – 73 Bathurst St #422: A compact one-bedroom at the B Street Condos near Bathurst and Bloor, listed at $465,000. While the 485 sq. ft. interior is modest, the large terrace adds significant value to an entry-level condo in Toronto
- 10:03 – 899 Queen St E: A 611 sq. ft. one-bedroom in the Logan Residences, right in the heart of Leslieville. Listed at $545,000, this is one of David’s favourite combinations of building, neighbourhood, interior space, and outdoor living, with approximately 140 sq. ft. of terrace space directly overlooking Queen Street
- 13:55 – 350 Wellington St W #G25: A one-bedroom at the Soho Metropolitan offering 615 sq. ft. of interior space and a huge 290 sq. ft. outdoor area. The hotel-condo building comes with higher fees and rental parking, while the dated interior could use an update
- 18:27 – 2 Gladstone Ave: A one-bedroom in the 2G Lofts listed at $549,000 with an impressive 400 sq. ft. private rooftop terrace, but there’s one major catch: unlike the other properties, the terrace isn’t directly attached to the unit, requiring residents to leave their condo and access it separately
If you’re a first-time buyer looking for a condo under $550,000 or curious about what kind of outdoor space you can actually get at this price point, this Pick 5 takes a look at five affordable Toronto condos where the terrace might just be the biggest selling point.