People often have a set of expectations when they buy a condo. They know that the condo association is responsible for a great deal of the property upkeep. For some, the convenience of enjoying beautiful landscaping without the responsibility of mowing the lawn is a selling point in itself. Before you start your search for a condo, think about the realities of condo life and determine if it is for you. Your Thornhill real estate agent can help you understand your options so you can make an informed decision about where you want to live for the rest of your life.
Your Share of the Upkeep
As a condo owner, you can enjoy the benefits of a maintained parking lot, well-kept landscaping, maintained water lines, and the upkeep of all common areas. In return, you will pay monthly dues to cover the costs. You will also need to pay insurance on your unit to receive payment in case it is damaged. You are responsible for the things inside your condo, including the appliances, plumbing, wiring, and furniture.
Many people fear that living in a condo will be too noisy due to the proximity of the neighbours or that there will be problems with the management of the COA. In reality, most condo owners find that they have plenty of privacy and rarely have a problem with noise.
One piece of advice others offer first-time condo livers is to avoid apartment buildings that have been converted into condos. Although the lower price may be tempting, these buildings are more crowded and they have many of the same problems that you would expect from an older apartment building. Instead, turn to your Thornhill real estate agent to learn about new structures to get the advantage of an all-new building. You might consider getting in on a pre-construction condo project to save money and get in on the ground floor.
Some condos have washer and dryer hook-ups so that you can purchase your own laundry machines. Others have common area laundry rooms. If you want to ensure you have all the modern amenities, consider a luxury condo.
There are several advantages to purchasing a condo before it has been built. For one, the design of the condo has not already been determined. As a result, you get some say in a number of components of the design instead of having to settle for one that has already been completed. Many people who have already gone this route warn that it is a risky move and, in some cases, one that they regret. Without a Thornhill real estate agent like Dmitri and Stanislava of Shop a Property, you may not get a fair price. They will help you get a reasonable deposit amount and make sure you understand what is expected from you financially throughout the purchasing process.