78 Warren Rd is a renovated 1950’s co-ownership that’s located on superb tree-lined street in exclusive Forest Hill, south of Timothy Eaton Church. Its also a short walk to Forest Hill Shops, Yonge and St Clair, Winston Churchill Park, Jogging Trails, Subway. This is a good entry point into an established neighbourhood. Coownerships are not CHMC insured so a downpayment of 30% is required. Because of the age of this coownerships, there’s radiant heating, no ensuite laundry and no central air conditioning. Yet it offers good value for the location but without the modern conveniences. Ideal buyer is working with a large down payment.
With Condos, you purchase a unit in a building and gain a percentage interest in the common areas.You receive a deed to the unit you have purchased.
With Co-ownership you purchase an undivided percentage of the building that is registered on title (your name is on the legal ownership document), along with the exclusive right to occupy a specific unit and you receive a deed setting out the percentage interest you have acquired.
Make sure to review all legal documents and disclosures with a knowledgeable lawyer on co-ownerships.
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