How To Find A Downtown Condo For Less Than $250,000? Live In Less Than 300 Square Feet
With condos in Canada's priciest cities costing an average of $500,000 and up, many would-be buyers have resigned themselves to renting. Now, in response to ever-climbing prices, a handful of developers are offering so-called "micro" condos — 400-square feet sized spaces (and smaller) that can go for $250,000 or less. Many come with a downtown location (and stunning views) and thoughtfully cram a living room, bedroom and kitchen into less than 400 square feet. Often, to save space, the units come equipped with fold-away furniture like Murphy beds or dual-purpose pieces like washer-dryer combo units and dishwashers in drawers.
“I don’t think many people wake up in the morning saying, ‘I want as little space as possible,’” says Laurence Vincent, vice-president sales and marketing at Prével, a Montreal-based micro condo developer. “It comes from a need in the market.” The biggest demand comes, predictably, from young urban professionals looking to break into the real estate market — though small spaces have also become popular with students and people with homes outside the city looking for a pied-à-terre.
Check out some of the tiny condos recently built and currently in construction across the country:
micro condos
Montreal
Montreal is home to a mix of tiny condos – including Canada’s smallest at 278 square feet. The units in Old Montreal’s 21e Arrondissement (of which 10 are left) start at $150,000, with furniture upgrades available for additional storage and hide-away pieces like Murphy beds which fold away from the wall, pictured above.
Montreal
The still-in-development Lowney sur Ville condos come with full-sized appliances hidden behind cupboards in the kitchen. “Micro units have to have all the features a bigger apartment would [have], but in an organized manner,” says the developer Laurence Vincent.
Montreal
This narrow bathrooms in Lowney sur Ville condos are also designed with space-saving in mind – doing away with a tub in favour of a stand-up shower. The smallest unit’s bathroom is 3.2-feet wide, and 8.8-feet long.
Toronto
The Smart House is currently under construction at the corner of Queen Street and Simcoe Street in Toronto. The micro bachelor units, all of which are sold, started at $239,900 and run between 280 and 460 square feet. This is a floor plan for one of the 289 square feet units.
Toronto
The Smart House micro-condo kitchens comes fully equipped with a smaller sized fridge, a dishwasher “drawer” and a dual-purpose washer-dryer.
Toronto
Furniture was an upgrade option for owners of the Smart House. Designed by AyA Kitchens and Baths, buyers could purchase fold-away tables and Murphy beds surrounded by cabinetry, which turned into sofas during the day.
Calgary
Downtown Calgary’s in-construction INK building offered 26 studio micro apartments in the developer’s 14-storey tower. At $179,000 each, the micro units, which run between 368 and 378 square feet, sold out within a week. Here’s a floor plan for one of the 378-square-foot units.
Calgary
The condos feature floor-to-ceiling windows, designed to keep the small space airy.
Calgary
The building, from Calgary developer Battistella, also offers a number of amenities for people looking to get out of their tiny spaces, including a rooftop garden and the practical repair room, which will host a tool library.
Victoria
The Janion micro-loft building opened in late 2016, and is located on the waterfront in Victoria, B.C. The average price was originally $100,000 to $170,000, though some units are currently on the market again for more than $350,000.
Victoria
Running between 240 and 350 square feet, the 100 micro units of The Janion sold out just ahead of construction in 2013.
Victoria
The small living offers space-saving options, like a dining room table that turns into a bed. The rooftop patio offers a view of the harbour.
Surrey
Reliance Properties recently broke ground on its latest micro condos in Surrey, B.C. The building also offers micro “two” and “three” bedroom units, which run between 380 and 750 square feet. Here is a floor plan of a “two” bedroom unit.
Surrey
The micro lofts will be largely made up of lighter coloured woods and appliances, says Jon Stovell, president of Reliance Properties, to make the space seem airier. They too will have fold down tables and beds, alongside a wall of cabinetry for additional storage.
Surrey
The units, which start at $130,000, will use sliding walls to separate the two and three bedroom units.
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