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If you are hoping to purchase Toronto Condos or North York Condos, there are some basic things you need to know about condos that will help you in your search. One of the important things to consider when searching for a condo is to get an agent to help you with your search. There are many agents in who are very experienced at what they do. An agent will help you to understand the listings, the association guidelines and any other questions you may have about how to search and purchase a condo. It is not a requirement to have an agent help you to find your new condo but it is a very good idea. If you decide to go it alone, be prepared to spend some time searching, researching, and looking beneath the surface to understand what a condo includes and what you will get for your money and what other expenses associated with your condo that you may have to pay separately. |
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If you are considering purchasing a new construction condo, you should be prepared to continue to deal with construction, even after you move in, until all units are finished. For some this may not seem like a big deal but for others the hammering, sawing, fresh paint smell and other construction elements can be very disturbing, offensive and even pose allergy concerns.
Also, there are times when new construction production schedules are not met. What does this mean to you? If you are selling your home and have given your 30-day notice, it means you may have to find an interim living space until your new construction condo is ready and the new condo is not responsible for paying your rental costs.
Another thing to review before you sign any contract or purchase agreement is the Status Certificate. The property manager’s office should have a copy of this document on file. This is a very important document and should not only be reviewed by you but by your lawyer as well as it contains valuable information about the company that owns the condo unit you are interested in buying. It might be a good idea to also review the bylaws of the condo to see what rules and regulations apply to the condo unit such as renting the condo out or subletting, hours of usage or rights of usage for areas like the swimming pool, club house, etc.
If you’re looking to move into a downtown Toronto condo, you should know that many condos do not include parking costs in your condo fees. This means that you may have to pay anywhere from $20,000 to $25,000 for parking privileges in a garage. To view more condos in Toronto, visit: www.harborviewcondo.com