Guide to Buying a Condo for First-Time Homeowners

So, you’re buying a condo – congratulations! This is an incredibly exciting time for first-time homeowners, but it’s also a time when key decision-making and important investigation is necessary. First, you need to be aware of the benefits of buying a resale condo or a pre-sale (new) condo, so read on.

Benefits of Buying a Condo (Resale)

• What you see is what you get. Sometimes it’s difficult to visualize a space from well-decorated showrooms. When looking at resale condominiums, there are fewer unknowns because you can walk through the units and get a feel for them. You can see the view, the layout, and the shared spaces.

• Get to know your neighbours. You can speak to them to get a sense of the community and ask if they are happy with the building.

Benefits of Buying a Condo (New)

• Customization. You have control in selecting the style of suite that interests you, including choosing colour schemes and interior finishes. Sometimes choices are an added expense.

• Extra Time to Save. Once you have paid your deposit, you have more time to accumulate a percentage of the down payment while your condominium is being built.

Ian Hawkins and Cindy Ryerse have been helping people sell and buy real estate in the beautiful Georgian Triangle for many years. If you’d like our expert assistance, please get in touch with us.