Introduction
With affordable challenges in a city like Toronto, many first-time housekeepers choose between a condo and a freehold townhouse. If you like to stay in the downtown core, condos are usually the best and most affordable option. But buying a condo is not like buying a house. CondoMapper.ca is the best place for you if you are a Toronto resident. You will get the best service from now on. However, there are some things to consider when buying a condo; they are highlighted in this article. So let’s get started with it.
Condo rules
If you’ve always been in a home, you may be in favor of a rude awakening when you go to a condo if you don’t know what to expect. Condos do not come with the same freedom as at home. There are rules for everything, from smoking to pets. Make sure you know the rules before entering; Otherwise, if you only have one dog allowed and you have two, you will be naughty.
Consider your lifestyle
What about your driveway wash pressure? Are your finances such that you will need to set aside $ 5,000 or more for a new HVAC unit or roof? If the answer is yes, then condo living may be for you.
However, if the desire to have a backyard outweighs your need for maintenance, other types of property, such as townhouses, maybe in your favor. Or if sharing a wall with a neighbor (as well as ceilings and floors) can ruin your peace, Condo may not be the answer. Condos tend to work best for those who have no problem staying in the apartment.
Advantages
One of the best parts of living in a condo is the amenities. The benefits are the extra permissions that condo owners like so much. Standard amenities include a swimming pool, party room, gym, and guest suites. While more opportunities are usually better than less, those opportunities are not free. You have to pay them with your condor fee. Make sure you make fair use of them before buying a condo with lots of benefits.
Parking
As with location, parking can help you resell your condo. Paying for a parking spot almost always costs money even if you don’t have your own car. If you don’t have a parking spot, selling your condo later will make it harder. No one, including vehicles, will consider buying your condo so that you will have a much smaller pool of potential buyers.
Reserve fund
Your condor fees may be lower now but may be higher in the future? That’s why your real estate lawyer needs to review the Condor Reserve Fund to make sure it can be managed. The reserve fund is supposed to be used for major expenses such as roof repairs, elevator replacement, and facilities maintenance. By reviewing the reserve fund ahead of time, you may be better prepared in the future, or you may want to avoid buying condos altogether.
