Purchasing a condo is often the biggest thing to purchase in your life, typically when the situation and pricing is already mentioned in several Canadian cities. Only a few statistics are still here:
- Toronto’s average condo is ~$520,000 (2017)
- Vancouver’s median condo cost is ~$650,000 (2017)
Whenever you see a condo unit you do like, that’s easy becoming emotionally connected. Nevertheless, if making such a large purchase, there are many things you have to consider. There is a compiled list of things that you should know when you Purchase a condo.
- Location, Location, Location!
It is the most important factor if you are making condos for sale north York it’s very important seeing your windows, as do your research to find out about all the future growth plans in the area. Occasionally units go up for sale at such a good price because owners were aware of the future condo project which is going to block the view and all natural light. Even though you’re not going to ever own your condo forever, it’s useful to think down the street about resale plans. A neighborhood may sometimes be trendy as well as popular and don’t rely heavily on it. You would like to be close to public transport, grocery stores, hospital parks as well as good schools.
- Proximity & Quality of Schools
For most cases, how great schools are in the location drives the value as well as the market price of a condo. In reality, more potential buyers and much more various offers are created by good schools. It’s a very important factor to consider if buying a product of a condo although you may have them in the future if you do not have kids now. Becoming close to being good schools also contributes to a unit’s resell value.
However, on the other side, you can buy a condo in a nice neighborhood as well as eventually find out either the school may have reached full capability as well as your child will also be bused to school in another district, or you could find that your condo address may not qualify your kid to get to your favorite school due to various factors, one of which should be low yearly property tax.
- Size/Floor Plan
Your condo unit’s specific size / square footage (square ft.) becomes important. Do your homework as well as calculate the size-related purchase price and found the price per square. Ft. Make comparisons this to past neighborhood sales until you make your purchase. A good floor plan sometimes is worth more than if it makes you happier and much more relaxed life in space as just a condo owner. Recent research indicated that perhaps the top of that list for prospective buyers was really a floor plan with great flow.
In such a floor plan, here are a few important things to watch for: make damn sure all bedrooms have windows; making a bedroom work without natural daylight is quite challenging. Ensure there’s no wasted space throughout the floor plan; it really affects your living space as well as price per / sq with an extra broad or long hallway.