With all of the snow that Simcoe County has received over the last few days, it's no surprise that many residents have considered selling their home and buying a condo. After all, you don't have to shovel snow and usually there is indoor parking, so ice scrapers are a thing of the past. But before you put up the "For Sale" sign and start touring condos, there are some things you should know:
1. Fewer Amenities Don't Mean Lower Condo Fees
Everyone thinks if you are in a building with more amenities that the fees are higher. This is not necessarily true. Often bigger buildings with pools, gyms, etc are able to spread the cost among more residents. Smaller or mid-rise buildings have lower populations so the fees may actually be higher.
2. Zero in On Your Preferred Location
Condo living is all about lifestyle and convenience so it's important to select a building that is close to where you work, shop or places you visit regularly.
3. Know Your Demographic
It's important that the building you are considering fits your lifestyle and stage of life. If you are a professional couple in your 50's downsizing, you probably don't want to be in a condo of 20-somethings.
4. Research The Neighbourhood
It's important to look into what's happening around your building. If you are buying a unit because of the view, you would want to know if there are plans for a new building that may block it.
5. You May Not Have The Final Say In Decor Choices
Some condo corporations limit what residents can do even within their own units. For example, some condos specify the colour of drapes that can be used and limit or restrict the renovations that can be undertaken.
It is important to work with a Realtor who is familiar with the condo rules and regulations in your area. If you have had enough shoveling and are considering purchasing a condo, feel free to contact us and let us help you through the process.