Navigating Condo Purchases

Calling all first-time condo buyers!

Congrats on your new milestone! With a lot of options in the market, choosing the right condo to purchase can be overwhelming, especially if you are a first-time buyer.

So how can you be sure that you are making the right decision when picking which condo you should purchase? Read on.

First, know your goals. Are you planning to reside in the condo long-term? Will you be staying there solo or with your family? Do you want to rent it out? Or are you thinking of re-selling it in the future? Once you have defined your goals, it will be easier for you to choose which type of condo is best for you.

Next, assess the design and layout. Make a list of your non-negotiables. Are the sizes of the rooms enough for your needs and lifestyle? Do you prefer a big living area and a spacious kitchen? Consider these preferences when choosing a condo unit.

Third, learn about the condo’s amenities and its association rules and fees. The common areas and amenities will be part of the perks of living in a condo and will also be included in what you’ll be paying for. Make sure to include the fees in your budget on top of the monthly mortgage fees.

Lastly, seek help from a trusted realtor. Each condominium is unique so it is important to work with someone who is knowledgeable and has expert experience in real estate.

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