The step you take before purchasing a condo needs to different than the conventional real-estate purchase. There is so much involved when buying a condo such as association that runs your apartment, public amenity and maintenance fees. Before purchasing any condo, you need to think through to avoid any issues along the way. Visit precondo.ca for some of the best condos in Toronto. Here are some of the condos buying checklist you should consider
Look out for the location
After evaluating your location, you need to ensure that you have the right financial backing. The most important factors to consider includes the property proximity to social amenities, traffic in your area and your neighborhood security. These factors are essential if you are looking to have a long-term investment. A Prime location with a serene environment is an ideal choice for a condo, but still, you need to evaluate the main reason for buying the apartment. Your condo’s location has a bearing towards your daily routine and prospects of your property.
Select the right design of your condo
The type or design of your condo plays a huge role to your most immediate needs. You can either choose between RFOs and Pre-selling condos. RFOs are residential apartments that are ready for occupation while pre-selling is condos sold before their completion. It’s important to note that high rise towers have more amenities while low-rise buildings provide for more privacy. Each of them comes with its pros and cons, but you need to do an assessment before selecting any of them.
Select a suitable agent and developer
When looking out for a condo, you need to ensure that the property agent has a substantial portfolio and reputation. The developer also needs to be licensed by the right authority. It’s important that you evaluate the agent’s licenses and certification and conduct a background check before undertaking any transaction.
Be present at the unit viewing or open house
Descriptions and photos of the condos are an important consideration when hunting for a condo. However, it’s important that you are present at the open house so that you can survey it personally. It also one of the ways to eliminating any doubt you might be having. Once inside the house, picture your furniture inside. This will enable you to determine whether the room is spacious enough for your items.
It’s also a chance for you to enquire from your developer and ask any questions on expansion and future improvements. You will also have the chance to inspect the unit’s exteriors and interiors and determine problems that haven’t been disclosed. This is especially so for condos previously owned.