Whether you’re considering an investment property or searching for a new place to call home, buying a condo is a big and exciting decision. In a two part series, Ralph Fox leading Toronto real estate agent with Sotheby’s International Realty and a key member of the Harmony Village sales team provides his top 5 tips that every first time condo buyer needs to keep in mind.
So you’re in the market for a condo? Keep these tips in mind:
1. Maintenance Fees: Many first-time owners don't realize that a condo purchase includes a monthly fee to the condo association to cover a variety of services and amenities. Be sure to find out what the fees cover and if they’re in line with similar condo developments. Also ask about potential increases down the road.
2. Energy Efficiency: Look into the energy efficiency of the development and whether or not it's LEED certified. LEED Certified buildings are not only better for the environment but also help homeowners save money in the long run. LEED Gold is becoming the new standard in property development and projects like Harmony Village are leading the way with features such as energy saving lighting in all individual suites, facilities and buildings.
3. Onsite Amenities: What else does the building offer? There’s great value to buy into projects that include services and amenities that make the building feel like a true community. Harmony Village Sheppard, for example, will offer an array of onsite amenities and services.
4. Balcony and Outdoor Space: A top priority on most people’s shopping list when it comes to condos is outdoor space of some kind. Even if it’s small, a balcony or terrace is a big bonus in the warmer months.
5. Exposure and View: Views are heavily sought in condos; I encourage my clients to look ahead to the future. Even if your view is unobstructed today, will it be tomorrow? It’s worth looking to the neighbouring sites and future construction plans.
Happy Hunting!
If you’re considering a condo purchase or interested in becoming part of the Harmony Village community, please contact us at 416-493-0123 or sheppard@harmonyvillage.ca.
When I'm looking at condominium units, I always look at their penthouse units. I really wanted to have a penthouse the same as the penthouse Singapore that I've seen on Magazines.
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