Buying a condominium is somewhat similar to buying pretty much any other real estate property. Key factors such as the price, location, security, and extra amenities are the same factors you should consider. However, if you are still unsure as to how to choose the best condominium for the price, let us help you by reviewing these key factors in detail.
Before you check out a condominium and sign the sale document, carefully consider the cost. In general, the price of any real estate property mainly depends on the size and location of the property, and any existing upgrades it has received. It also depends on various extra amenities offered, which can include a gym, a swimming pool, club house, library, and so on. Therefore, check these and the cost beforehand, and make sure that it fits your budget.
In general, the size is not really that important when purchasing a condo. The closer you are to the downtown area, the smaller the condos will get for your money. That is the case anywhere. However, if you plan to buy a condominium in an area where the average condo size is around 1300 square feet, avoid buying a condo that is 500 square feet unless the price is extremely low. This way, you will avoid being dwarfed by the competition, should you decide to resell or rent your condo.
If you are planning to buy a condo, having a garage will be of great importance, especially if you intend to resell it at a later date. The best case scenario would be a condo with an interior garage. In the worst case, make sure it has at least an exterior garage. Given how winters can be truly harsh, you will definitely want to avoid shoveling piles of snow on the street in order to park your car.
Aside from the price, this should perhaps be your top priority. When purchasing, for example, one of the Edge Condos, you will definitely want it to be in a well-developed area, or one that is up and coming. Look for the one that is relatively close to shops, restaurants, and public transport or some other features and facilities that attract people, such as markets, hospitals, and nightclubs.
This is also imperative if you plan to rent or resale your condominium. Keep in mind that there are a plethora of cookie-cutter condominiums out there, which feature the same interior designs and low-quality materials. Try to find a condominium that has some unique features, such as patio doors, a designer kitchen, an exotic brick wall, etc. Make sure it is something that will differentiate your condominium from the rest and impress and attract potential tenants or buyers.
The Interior Flow
When checking out a condo, make sure it has a good flow from one room to the next and looks and feels uncluttered and spacious. You surely don’t want to end up paying for a condo that feels confined and boxy. This will not only affect your quality of life but also keep away a large number of potential tenants or buyers.