The Tiniest of Canadian Condo Units
By Lucas on Oct 24, 2012
So, you think Toronto has small condo units? Well, if British Columbia-based developer Tien Sher has their way, they will set a new record for the tiniest condo unit in Canada, and it will be built in Surrey.
Tien Sher is planning a project called Balance, which will stand four storeys, and contain 56 “micro-suites.” The smallest of the units is 290 square feet, and the biggest is a one-bedroom, 653-square-foot unit; 33 of the 56 units will measure just 305 square feet!
These aren’t the only outrageously low numbers: the prices range from $109,000 to $180,000. WHAT? A 653-square-foot unit for $180,000? Whatever. We thought Vancouver was supposed to be as expensive, if not more expensive than Toronto, but you wouldn’t see a condo unit of that size priced any lower than the mid $300,000s here. If you have found one, you should probably buy it.
The reason Tien Sher is building Balance is to cater to young people who don’t want to live at home, who don’t want to rent, but also don’t want all the responsibility of owning a house. It’s basically for lazy, young people who want to go to work, eat out every day, and then need a place to sleep at night. And hey, there’s nothing wrong with that! Plus, Balance is planned for the Whalley neighbourhood, which used to be in disrepair, but it is currently making a turnaround, so this might be a good opportunity for the young to invest.
According to Tien Sher, owning at Balance would cost roughly $650/month (depending on the unit you buy), and should be easily afforded by anyone making at least $35,000/year. How many downtowners in Toronto who make $35,000/year can say they own? Probably none, unless Daddy bought it for them.
The micro-suites at Balance are set to hit the market in January 2013, so if you’re planning on moving west, we suggest you check them out!
Do you think you could live in a 290-square-foot space? How about if the price was right?
