With the increase of people looking for the low maintenance aspect of a home while still maintaining ownership in a complex with varying amenities, condominium complexes have become more popular over the past number of years. What are some things to consider when shopping for the perfect condo?
Do work with a REALTOR®
Although you can purchase a condo without the help of a REALTOR®, the process may go more smoothly if you enlist the help of an expert. We can help you quickly find condos that meet your needs as well as keep you apprised of newly listed condos that may be right for you, including contacting the developers of new construction options. Your REALTOR® will put the time and effort into your condo buying search so you won't have to. And the best part is it costs you nothing!
Do Comparison Shop
There are a lot of choices of condos in varying locations, price range and style! You need to decide first what your budget is so your agent can target the right properties for you to look at. You also need to decide what are your “must-haves”. If you could create your ideal wish list what is it that you really want or need as there are pros and cons to every complex. Do you require an elevator, do you want some patio area, do you need extra storage, covered parking, a certain number of bedrooms and/or bathrooms? That is the starting point for your hunt! Next you will need to go and look at a number of units in different complexes to see the differences in finishing, amenities, and neighbourhood to help determine exactly what you get at each price point.
Do consider new construction units
If you're buying a new construction condo, there are a couple of things to consider. There is the benefit of the fact that you may be able to add your personal stamp to some of the finishing choices and really tailor it to your own tastes. That being said, most developers offer very competitive standard finishes that are pretty good and the value in any upgrades you may choose will depend on your lifestyle and your circumstances. We can certainly help you navigate that process.
As there are many moving parts that all need to work together in order to custom build your unit, you may need to be more flexible with your move in date with a new construction unit versus a re-sale condominium. Pre-construction delays are often to be expected so you need consider that possibility and decide if you need a more guaranteed possession date.
Don't be afraid to pull the trigger
Once you have done the homework and found the right property for you, don’t be afraid to jump in! Trust your gut as you will know when a place feels like it could be your next “home”!
Happy condo shopping!
Karin & Jen