Condominiums are increasing in popularity as more people discover the benefits of condo living. This type of real estate is ideal for virtually anyone, including families, retirees and new buyers. Condos offer a laid back lifestyle for those who want to avoid the high-maintenance of home ownership. If you’re looking for a condominium in the Mississauga area, there are some factors to consider before you begin your search.
Whether or not you plan on reselling your condo, it’s important to make the right investment. Decide how much you can afford upfront, and factor in the monthly fees condo associations charge. Taxes are also a major consideration.
The condo fees vary drastically from complex to complex as well. These charges go toward the upkeep of your unit. The homeowner association should have funds set aside for larger repairs. Ask how often fees are raised and whether or not the reserves are stocked. If there isn’t enough in the budget, you may be charged assessment fees, or there may be maintenance cuts.
If you are strongly considering a specific condo, do some research into the management of the complex. Investigate how the management handles owner complaints or requests. Many managers put restrictions on home improvements, so be sure to explore the regulations before making a commitment. Some condos also prohibit pets, subletting and home-based businesses. Make sure you can live with all the rules and guidelines.
Once you find a condominium that fits your budget and lifestyle, check out the neighborhood. Visit at various times of the day on weekends as well as weekdays. Inquire about all the amenities. Many condo complexes house gyms, game rooms, clubhouses and outdoor common areas. Essentially, you should look for a well-managed, clean, secure, stable and inviting community.
The interior design, structural integrity and livability of the condominium you select should meet your personal standards. If you have questions regarding these or any other matters such as insurance coverage, foreclosure issues or mortgage requirements, I can find the answers you seek. With 25 years of experience in real estate, I have the skills to help you find the condo of your dreams at an affordable price.