The Station Condos

Well hello everyone, I know this is a bit out of my usual territory but I couldn't help myself. Recently I heard about "The Station Condos," which is an amazing new development by Brandy Lane Homes. It's set to be built next to the Wilson subway station, on Wilson Avenue right by Allen Road. These exciting new luxury condos offer incredible amenities, beautiful night time vistas of the city, luxury shopping and to top it all off easy access to downtown Toronto and the rest of the GTA. It is located steps away from the The Yorkdale Shopping Center and the surrounding area boasts a plethora of restaurants, shopping, clubs and theatres.

Not only is The Station, as I'm going to refer to it from now on, exceptionally located but let's talk about the other important features.

The units themselves are beautifully laid out and finished in a way that will make you believe you're absolutely filthy rich. Granite counter tops, European inspired kitchens, beautiful wood floors, stainless steel appliances and I'll just stop here because the list is exhaustive. I'll say one thing these condo's truly put the luxury into luxury living.

It really starts once you step out of your condo because things get even more glamorous from there. There's the beautiful two storey Art Deco lobby that's finished beautifully in wood and stone, with a
concierge to welcome you and your guests. The outdoor and indoor patio's where you can enjoy a meal, the seven barbeque areas, the gym, the infinity pool , party room and entertainment room. You'll look glamorous, feel glamorous and be able to entertain people with ease, style and impact. See a pattern emerging here, now do you know why I'm excited about The Station.

That's before I found out about the City of Toronto's, "Avenue Initiative." This is the city's plan to broaden and beautify certain streets and make them more beautiful and grand and evoke the spirit of those beautiful and majestic avenues that you would find in Manhattan. Then you have the plan to extend the University line all the way to York University and into Richmond Hill by 2015. Once these two initiatives are complete you'll see the value of your home skyrocket. Which would matter if you ever wanted to sell, but then why would you, once you move to your other home on the French Riviera you can always let your rich jet setting friends crash at your place and truly impress them.

Anyways to give you an idea of what it'll cost to get your foot in your door and a taste of the good life, you'll basically start at a very reasonable $189,000 and then the sky's the limit from there on.

1 bedroom from $189,900
1 bedroom plus den from $234,900
2 bedroom from $309,900
2 bedroom loft and 2 bedroom plus den from $339,900
2 bedroom plus den loft from $379,900
Penthouses from $649,900

Deposit Structure
$2,500 on signing
balance of 5% - 30 days
5% - 120 days

5% - 180 days
5% on occupancy

Maintenance and Taxes
Maintenance is approximately 45¢ per square foot. Hydro is separately metered.
Taxes are estimated at approximately 0.83% of Purchase Price.

If you're really curious to know more and want more information on The Station Condos on Wilson Subway, contact me, Zeenia Kola at 908-828-3434. Floor plans and complete price lists are available. You know you want to talk to someone who is as excited about this place as you are.

Regards,
Zeenia Kola
Sales Representative with Re/Max Realty Specialists Inc., Brokerage
Email: zeenia@zeeniakola.com
Ph: 905-828-3434
Add: 2691 Credit Valley Rd, #101, Mississauga, L5M 7A1
Website: http://www.zeeniakola.com/
Facebook Link

How Condo Owners can claim Tax Credits!

Tax Credit brings to mind images of detached houses in the suburbs and not units in sky-high buildings, you're not alone. Many condo owners are paying little attention to the credit when they could be reaping the benefits.

In fact, there are many opportunities for condo owners to claim the credit, including some outside of their own units.

Condo owners can claim a portion of improvements made to their building between Jan. 27, 2009 and Feb. 1, 2010, as long as they were at least partially responsible for paying for the upgrades.

Here's how it works:

Assuming each condo owner pays a monthly fee to a condo corporation, repairs or renovations completed and paid for with that money should count toward the HRTC. The condo corporation is simply paying for these goods and services on behalf of all of the unit owners.

Condo corporations are unable to claim the credit because it is available only to individuals, so it's up to each person to claim his or her portion.

Therefore, on their 2009 taxes, condo owners can claim the credit for renovations to their own unit – similar to what would be done in a detached home, for example – as well as their share of any renovations to common areas paid for by the condo corporation.

This could include anything from new windows installed in your building to a redesigned lobby area or new improved landscaping.

Add these shared costs with renovations you may have done to your individual unit (bathroom or kitchen upgrades, new fixtures, painting) and you could significantly increase your credit.

Canada Revenue Agency guidelines for condo owners indicate that improvements made to common areas will qualify if:

– You own your unit. Renters are out of luck, even if they pay similar monthly fees.

– "The expenses would be eligible expenses if the common areas were treated as an entitled dwelling" – if new furniture wouldn't count in a detached home, it won't count in a condo either.

– Your condo corporation has notified you of your share of the expenses.

As a reminder, the tax credit applies to renovation costs over $1,000 and under $10,000, so if you spent a few hundred dollars on your own unit and the condo corporation spent a few hundred more on your behalf, that may be the difference between getting a return or not.

What you'll need to make the claim:

Since you're not dealing directly with stores or contractors and won't receive original receipts or invoices, in order to claim your portion of building renovations you need documentation from your condo corporation. This can be in the form of a

letter and must be signed.

Most condo corporations have a set of guidelines that help them determine the allocation of expenses for common areas. It is this documentation that will guide them in establishing each condo owner's contributions to renovations and hence how much people can claim.

According to Canada Revenue Agency, the documentation "must clearly identify the type and quantity of goods purchased or services provided" and also include the following:

– The cost of the renovations

– Your portion of the expenses (exactly how much you are considered to have contributed)

– Contact information for the vendor or contractor (including GST/HST number, if applicable)

– A description of the work in question

– The date or dates the work was completed.

If you do not receive documentation for improvements to your building, it is worth asking about. It could mean a few more dollars in your pocket!

If you have any questions please feel free to contact:

Zeenia Kola

Sales Representative with Re/Max Realty Specialists Inc., Brokerage

PH: 905-828-3434

Add: 2691, Credit Valley Road, Mississauga, L5M 7A1

Email: zeenia@zeeniakola.com

Website: www.zeeniakola.com

or

http://www.zeeniakola.com/AgentProfile/contactme.cfm