Friday, March 13, 2009

More Real Estate Dreaming

I enjoy browsing real estate websites in my spare time, and I know I'm not the only one that does this! Of particular interest are homes in Port Hope and Peterborough, and just for fun, apartments in New York City.

I just found a real gem on Manhattan's Upper East Side, listed on

Approximately 1,100 square feet
Asking $559,000
That's $508.18 per square foot
Maintenance $1,359/month

Now before you start calling the loony bin to see if there's a room available for me, compare this suite currently on the market across the courtyard from my place here in Toronto:

1,032 square feet
Asking $550,000
That's $532.95 per square foot
Maintenance $430.23/month

The real estate market is not that far apart these days as a result of softening prices in the United States. If not for the elevated maintenance fees in Manhattan, these two units would be equally affordable. But consider this...the New York apartment is 3 blocks away from The Met and Central Park, 8 blocks from The Guggenheim, and right around the corner from EVERYTHING ELSE!!

Now then, let's get down to details. How do I plan to purchase this apartment? Fingers crossed!!!

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