Management Companies Ranks in Toronto.
10 tips for buyers of housing in condominiums.
1. Do not be afraid of the terms, a condominium is a generally accepted system of collective ownership of real estate.
2. When looking for housing abroad, be sure to look at condominiums: the standard of living and maintenance of such facilities is always on top, although the price is appropriate.
3. Remember that the larger the adjacent territory and the area of the apartment itself in the condo – the more the cost of its maintenance will be! Calculate in advance with the management company how much the annual maintenance of the apartment will cost and decide how much this amount suits you.
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4. If the purpose of the purchase is to rent out – then an apartment purchased in a condominium with the Leasehold status or purchased in a regular residential complex will pay off faster.
5. If you need to purchase an apartment, give preference to buying in a condominium at the construction stage.
6. With short-term investments, you can buy an apartment at the initial stage of construction and sell it more expensive by the end of construction, when the developer will no longer have a quota of freehold. At the same time, you will receive an installment plan for the construction period and save on taxes during registration, since it will be possible to sell the rights under the investment agreement even before registration with the land department.
7. As a rule, housing in condominiums is easier to rent or resell. But when buying, pay attention to the fact that there are no restrictions on this in the charter (contract).
8. Trust the search and execution of the transaction only to a professional realtor who thoroughly knows the market and the real value of the apartment – and will correctly execute the purchase agreement in your interests.
9. If possible, purchase housing in newer buildings as much as possible.
10. Carefully read all the documents (declaration, charter of the condominium), and also carefully read the contract before signing it, so that later possible restrictions do not come as a surprise to you.