Deciding to buy a condo, particularly for a first-time buyer may be a stressful and unfamiliar process. Let us take a look at what you need to consider when purchasing a condo unit.
Cost – How much could you afford and what's included in the price of the unit? Are utilities extra? Does the unit come with a parking place or even a locker and if so is there an extra cost?
Down Payment – Consider how much you can afford to put down. Anything less than 20% of the cost must get mortgage insurance. The bigger your down payment, the less interest you pay over the lifespan of your mortgage.
Location – is the place in a convenient place for your lifestyle?
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Suite and Floorplan- Is the layout practical and will it be simple to arrange your furniture? Where on the ground is it situated? Next to some noisy garbage shoot or across from top traffic elevators? Take a look at financial district condos for sale via https://www.broadexchangebuilding.com/.
Common Areas and Building conveniences – Does the building have the comforts you're interested in like a fitness center, a recreation room, guest suites, a swimming pool etc? Is your area up and coming?
Reserve Fund and Condo Corporation – Your attorney will review the status certificate to see whether there's any upcoming cost or increase in maintenance fees scheduled.
Condos are a terrific choice to freehold residing if you're looking for an affordable and convenient living. When looking for your perfect condominium takes the above into consideration. Happy condo hunting.