Thread: Theberge Homes
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Old 2012-08-02, 09:05 AM
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Default Promises Fell Short ....

We bought a unit in their Wellington and Island Park condo. We were promised a 'boutique-style' condo experience. Not quite.

First ... the unit. Nice finishings, but the appliances are the lowest quality SS product available. Painting job was sloppy in sections. Hard wood nice, but that was because we upgraded it.

The exterior and common elements are still being worked on as I'm writing this. Again, they just wanted their money and make you take possession before it's really ready. It is a pain for tenants and owners. Five months after moving into a small condo, trades still take over the building everyday. Some work is expected, but I find Theberge was very optimistic with their timelines.

With the deficiencies, we are still working this still. The staff does their best, but the management company they have set up to take over the condo is difficult to work with. They take their time .... really take their time and they never keep you in the loop as to what is going on. We are always having to call them for updates on issues. It's really frustrating to deal with a poor management company.

I don't know if your friend is buying this property as his own personal place or as an investment. If it's an investment, look at the rents that units in the area are going for now ... since that is what the rent will generally be for your unit. People will pay a bit more for a new place ... but not necessarily much more. There is a low-income housing project as a neighbour. I find that rents are on the low end. People wont' pay more rent for the area just because you need to make a mortgage payment. Also, how many other owners are going to be renting out their units ... that's your competition.

I personally won't buy a unit here, personal or as an investment. The area is not up and coming ... it's still down and out. For resale, I don't know if it is a good choice, since it will be a bit of a jewel in a not so nice area. Look at the whole area, not just St. Laurent. Will you get your money back? I don't know.

Don't believe a builder's promises ... do your homework. If you come up with a different conclusion, then go for it. Just don't fall for the sales pitch ... think before you leap.

Last edited by Southfield; 2012-08-02 at 06:52 PM.