Questions To Ask Before Buying A Condominium

After some thoughts, you have decided you will buy a condominium as an investment or for your living. The finance may have been through a mortgage, regular loan or saving. Most people fail in this process by doing hasty decision without either digging deep through research or questions. This being a big and expensive project, you probably have many questions you seek answers to before signing a deal with the developer or the selling real estate agent. Therefore, this article will highlight popular questions one can ask and the answers to expect.

Questions to ask before buying a condo

Is the land a lease hold or free hold?

dfgfgfdgfdgfdgdfgfdgMatters land become complicated every day due to often change of ownership. The condo will have many owners when each buys a unit or two. Things will be easy when the land is a freehold to the developer since buyers will now become part of its shareholding.

However, a leasehold land may complicate matters since the developer does not own. Some entice buyers in the promise that the developer will buy it eventually and change shareholding rights. This in some cases may fail where the owner claims the land after the lease expires. An understanding of this fact before buying will help you make a right decision.

What amenities do you offer?

Every person has what they would like to enjoy in a condo. Thus they need to ask and have it clear all from the beginning. Some condos may miss offering an amenity like a swimming pool or gym house which you love only to have you regret after making a purchase. If it’s for investment, buyers probably will be looking for value addition amenities to give them an upper hand when selling or leasing out. You too need to ask this clearly and get clear answers.

What is the price?

gfhfghfghfghfghgfhThis ought to be the first question so that one can relate all other value with price. Most developers or condo sellers will try and justify their price tag with factors like market value, location, cost incurred and amenities provided. As a buyer, it is prudent to make similar arguments or consult a professional real estate valuator to assist. An experienced investor may not need much consultation and negotiations can proceed.

Conclusions

Buying a condo successfully and at fair prices is one of the best things. This mega project may take a few days depending on the processes involved, but if not careful, a great budget whole can be the results.

If you are looking for reliable and state of the art condos to buy, you can consider, Yonge Parc condos.

Phyllis Castillo / April 25, 2017 / Condos

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Why Buy a House in Toronto?

Some people think that living in Toronto isn’t worth it due to the high cost of living and expensive real estate or rent prices. This, in turn, acts as a major turnoff to people who might be interested in buying a house in the city. Which is a big shame?¬†While Toronto does have a few pricey, upscale areas, living in Wyatt Condos it isn’t nearly as expensive as a lot of people would believe (especially compared to major metropolitan locations like New York City or Hong Kong). The new upcoming houses are cheap to many middle class income people.

Why buying a house in Toronto is awesome

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Toronto has long enjoyed the reputation of being one of the safest cities in Canada as well as the entirety of North America. Compared to New York City’s 265.9 robberies per 100,000 people, Toronto only has 207 per 100,000.¬†Chicago has a homicide rate of 18.5 per 100,000 while Toronto has 2 per 100,000. To put it simply, you’ll feel more at ease walking around in Toronto at night than in any other city in the world.

Job Prospects All Around

As one of the world’s top financial centers and a bustling hub for IT companies, Toronto does not lack when it comes to employment opportunities for its residents. Young people, in particular, have more chances of jumpstarting their careers here compared to other cities.

In the case of people want to ditch the corporate lifestyle and go down the entrepreneurial route, the city has programs like the Ryerson Digital Media Zone, The Next 36, and the Joe Fresh Centre for Fashion Innovation that can help budding entrepreneurs set up their own business.

Transportation Costs are Low

Toronto is a relatively easy city to get around. You wouldn’t even have to use your car. The subway network is made up of only three primary lines- and the rides are dirt cheap at that.

A subway ride usually costs around $3, while a day pass that can give unlimited rides for one whole day is only $10.75. The whole city is bike-friendly. Since Toronto is built on a simple grid and block system, you wouldn’t easily get lost when biking or walking around.

Diversitydgfgdgdgdgd and Multiculturalism

Toronto is also famous for its diversity. The city alone is home to 200 different ethnic groups. And almost half of the population has a different mother tongue other than the two major languages, English and French.

Phyllis Castillo / October 1, 2016 / Real Estate