Tips For Buying the
Right Condo in Toronto
Imagine that you have
decided to buy a condo. You're excited
to move in. Then you get the bill for
the association fees. You didn't know
you had to pay up immediately for
unforeseen snow removal. You messed up.
You didn't read your contract before you
signed the papers. Now you’re stuck with
a condo that is going to be much more
expensive than you ever anticipated.
It doesn’t have to happen that way.
We've all heard the horror stories about
buying a home. For some reason, the
stories are more pervasive when it comes
to buying condos. Buying the right condo
is a tricky deal. Before you jump in and
sign a contract, you need to stop and
think twice. You have to do your due
diligence before you make a purchase
that is this big. So how can you find an
amazing condo and amazing price without
losing your shirt in the process?
New condos in
thinking about buying a condo,
perhaps the first thing you need to
ponder is whether condo is right for
you. Too many people move into a
condo that works great for them now.
Then after they add a child or two,
they realize the condo doesn't fit
their life anymore. If you are
considering enlarging your family,
perhaps a condo is not the right
home for you.
Hire a buyer's
agent. Finding the right home is
hard enough in itself. Finding it
without a professional who is on
your side is a risk you don't want
to take. Your agent will likely know
all the details about the different
condos and their associations. After
meeting with you, she will know
which ones fit your needs the best.
She will also watch out for you. It
is her job to get you the best deal.
A good agent will also educate you
about the home buying process and
help you avoid any pitfalls.
Get a list of all
documents related to your condo and
its association. Read them
thoroughly. Knowing what rules you
will face in advance may save you a
lot of trouble later. Find out
whether the association managers
will be more or less active in
governing the condo association.
Active association managers may be
nitpicky about the things you do
with your condo or on the common
property. On the other hand, they
can also help you deal with problem
neighbors. Passive management
associations treat you like an
adult, preferring that you deal with
your property and your neighbors
Check into the
financial stability of the condo
association. Are they stable? Have
they shown good management practices
in the past?
potential new neighbors what their
living experience has been while
living there. This is probably one
of the best ways to find out if
you're about to choose the right
While this list is
certainly not exhaustive, it is a great
place to get started. If you follow
these recommendations, you will likely
find yourself in a comfortable condo
enjoying the benefits of homeownership
Contact Us Today to Find The Toronto
Condo of Your Dreams!