I have a 23 years old condo located at Young and Finch. It is a two bedroom two bathroom condo with underground access to subway, quire corner unit, practical layout, with a recent renovated kitchen. The maintenance fee is about $790 a month, everything included (increase about $20 every year ), the condo is about 1000sqf. Mortgage is paid off already.
I’m moving to another property, wondering if I should sell this condo or rent it out and hold it for a few more years. If I sell it, it will probably go for somewhere around $650k, if I rent it, this will likely get $2900/month.
Wondering with the north York development and the subway extension will this condo continue to increase in value for the next five years? Or would it be better for me to sell it now because of the age of the condo, will we get harder to sell in the next few years? Would like to hear some thoughts.