The life cycle is clear. They are okay for the first five years, they
gradually deteriorate by year 10 ... and don't even reach year 20
before significant remedial work needs to be done. In 50 years these
buildings may well become an urban slum."
—Ted Kesik, professor of building science at the University of Toronto
(CBC 13 Oct 2014)
|"I would never buy a condominium in Florida."
— Peter Vujin, a Miami attorney, responding to a reporter about a condo lawsuit
It's all about timing. “We advise most clients to get out before that
five-year mark," said Roy Bhandari of Sage Real Estate, which notched
nearly C$50 million in Toronto condo sales in 2013, with clients
typically from China, Eastern Europe, or the Middle East. "It's the
magic number because after five years the warranties are expired.”