What should you know before buying condominium in Toronto
There are main six factors you must study and consider each of them carefully before buying residential property as condominium in Toronto or surrounding area especially condominiums downtown Toronto . Three Basic Factors and Three Detailed Factors, if the basic factors are fine with you, only then give your self time to review and research the detailed factors because they will take time and most probably you will need legal help in reviewing some of them.
Basic factors to consider:
– Location and accessibility of the building
your first impression will be how the building look like, where it is located, is it centrally located, near to grocery shop or school, accessible by public transit or only car is your gate out ..etc
– What are the building amenities and common elements
Each condominium building offer various of amenities like Gem, swimming pool, ..etc, mainly the value of the condominiums in Toronto is effected by those amenities positively, in other words the more amenities in the building the more value you are looking at. however Real Estate Agent in Toronto point of view is very important here as in some cases more amenities can effect the value negatively, as in the case of small size condominium building with swimming pool, the maintenance fees of such building will be very high, and will be increasing significantly because of the cost of maintaining the pool usually very high and divided on small number of units
– The Layout of the condominium
The layout of the condo is referring to interior structure, the amenities inside your apartments, the view and the level might be great factor for price negotiating those days that’s why water front condominiums or condominiums downtown Toronto are priced higher than similar without view, Real Estate Agent in Toronto will help you to see things might not be noticeable, this is his work. Home inspector report usually obtained for older condos as part of the conditions while submitting an offer. The bottom of the line is; do you like the condo or not?
If the answer is yes I like what I see, happy with location and amenities you have to research the next three factors
