The post Buying condominium in Toronto Part “1” first appeared on Ahmed Amin Real Estate Broker.
]]>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.
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
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 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
The post Buying condominium in Toronto Part “1” first appeared on Ahmed Amin Real Estate Broker.
]]>The post Condominium in Toronto first appeared on Ahmed Amin Real Estate Broker.
]]>Originally condominium were built to make the living less expensive. More than one family can share the same ground by building multiple stories; neither of those families can afford living in this particular area in a house because of the land high price. But after sharing the ground & building price among them, the living there is not as expensive.
That old point of view changed to become in some situations the opposite, for example Condominiums Downtown Toronto is way much expensive than owning a large house not centrally located in the city. Actually condominium in Toronto become now more of a luxury style of living, the different amenities available to condo owner like Gem, sauna, swimming pool, party rooms, parking and shuttle bus to the nearest transit service, all that makes condo living a great experience.
One of the great privileges of owning condominium is that you don’t have to worry about maintenance. Living in House specially for first time home buyers might be challenging specially in case the owner is not much of a handy man, the condo corporation who built and managing your building are responsible of all maintenance that’s why a maintenance fees must be paid monthly as a share on those expenses
Legally condominium ownership is not owning apartment in building only but share in land, building and common elements provided by the condominium corporation that’s why some procedures required to make sure that you are buying a condominium not only in good shape but built and managed correctly.
One more very important factor regarding new home buildings is that the Ontario New Home Warranty Program known as ONHWP provide warranty to all new buildings under some conditions, the building must be newly constructed and not build on old foundations, mostly a brand new condo will be under warranty for minimum one year for first time occupation not with condo resale.
The post Condominium in Toronto first appeared on Ahmed Amin Real Estate Broker.
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