About two years ago, my wife and I signed a contract for a unit in a condo to be built in the heart of Toronto’s Distillery District. While we are trilled with our purchase, and were treated extremely well during the purchase process (it is a very big purchase, so we expected this!), once we became unit holders this seems to have come to an end.
When we signed the contract we were told to budget $5 – 10k for various upgrades, which we did, but now we are doing everything in our power to avoid giving the developer any additional money. Why? Simply due to the manner we have been treated during this big ticket purchase. Here’s our problem:
- We have been told our design appointment (the appointment where we make the upgrade decisions and pay for upgrades) would be only a few months away, three times. The first was 9 months ago. Each time, the developers made no reference to the previous announcement or offer an apology.
- Now that our design appoint is finally booked, we were told that we could meet with the designers on any Saturday in advance of our booking. We have been there three times, and have yet to meet a designer. This becomes a major budgeting problem when the designer is the only person who can provide pricing.
- When we finally did meet with someone (not the designer), we were only offered vague pricing, with an assurance they would follow-up with the designer to get prices for the items we were interested in. We have yet to hear anything back, even after I have followed up.
My issue is that we were willing to commit between $5 and $10k, this is a lot of money, we should be treated with respect in this process. The developers have been obviously arrogant in their approach, and have allowed sales people to write promises that make the upgrade process seem exciting.
Because we can only work with the developers specified contractor (the designer) and suppliers, they seem to feel they can make promises, do what ever they want, and we’ll pay for it. This seems to be the monopoly power the real-estate industry has become accustom to holding, and it’s making me sick.
I can’t wait for an open MLS style system, and further regulation to erode these kinds of monopolies. In the mean time, I’ll be going to Home Depot for those upgraded closet doors.