As the overall market for housing increases, the construction industry is concentrating its energy towards condominiums. This is perhaps due to the fact that condos are affordable, not forgetting that they are increasingly becoming a desirable option for many. As this happens to be the case, the modern consumer has become savvy about what makes them happy.
Well, this is no exception of those living in Canada and in other parts of the world. However, in Canada, things are a bit different. This is because most people are making the mistake of searching for condos the same way they do when searching for other types of houses. But the thing is, these investments are distinct and in addition to this, there are factors that one needs to carefully consider before buying a condo. Here are some tips to consider before buying a condo in Canada.
Consider the Community
When looking to buy a condo in Canada, you want to be sure that there’ll be security, access to essential amenities, and on top of this, kind neighbors you can put up with. In other words, one of the most important things to consider when buying a condo to live in is to carefully assess the neighborhood and ensure that it suits your lifestyle as well as your comfort and convenience preferences.
In case you prefer the city life experience in Canada and you’re out of ideas, you may want to learn more about this location in west Toronto, Ontario. Etobicoke is one of those neighborhoods that is highly coveted in this part of the country and there are a lot of condos for sale as well. Before investing in any type of property, let alone a condo in Canada, it’s imperative to carefully examine the community you are moving into. People and things that surround has often had a huge impact on our lives and lifestyle.
Resale vs a new building
Some years ago, purchasing a pre-constructed condo was cheaper than that of an existing condo. However, as competition keeps soaring, the costs have matched and this may seem a bit nonsensical, especially given the fact that when it comes to a pre-constructed condo, the developer will, of course, sit on your money for a given period of time.
The best thing about buying an existing condo is that you may opt to live elsewhere and rent it out or alternatively live in it as soon as it’s been purchased. On the other hand, buying a pre-constructed condo may seem disadvantageous as it will take more time and resources to finish the whole unit.
Consider the rules and regulations
Just like in other parts of the world, neighborhood associations adhere to some set of rules and regulations that help to streamline behaviors and neighborhood morals. This is no exception in Canada. You’ll need to first and foremost consider if such rules are deal breakers or ideal for you. This means requesting for a full disclosure of such details before purchasing a condo and moving into such a community.
Are the maintenance plans viable?
Before investing in a condo in Canada, you want to ensure that you’ll get value for your money. This means that there needs to be necessary plans put in place in case things go south. Certain emergencies such as health issues, plumbing, electrical faults, and security issues will require a 24/7 response. So, before signing on the dotted line, ask for such details.
Another thing to consider is your level of access for cleaning your windows. If your condo is situated quite high up, it can quickly become challenging trying to clean your windows. Look for local, established and reputable window cleaning companies in your area. I personally use a Toronto window cleaning company called Window Cleaning People, but there are many options on the market if you do some quick research.
The above are but some tips to consider before buying a condo in Canada. But as always, it’s important to check for online reviews on the specific condo of your choice and ensuring that you’ve done extensive research. This will go a long way into ensuring that your final decision is solid and that you’ve found the condo of your dreams.