Buying a condo with features that are in high demand can greatly contribute to the investment value of a condo. In large cities such as Toronto, there are many things to consider when buying a condominium. Not only in Toronto but the singapore new condo launch has been highly successful in a very short period. Some features will not only create easy condo living, but will maximize the profit on a real estate investment. Some of the points to consider when purchasing are as follows:
Look for condos with modern kitchens and bathrooms that not only provide immediate aesthetic appeal but are fitted with luxury fixtures such as lighting and faucets. These points of interest are enticing to buyers and add value to the space. Most times condo living is on a smaller scale than detached homes but that does not mean the kitchen and bathroom space needs to feel cramped and claustrophobic. Look for a condo that incorporates a smart use of space with built in appliances and lots of storage.
Condos with South-Facing View
Buy a condo with a west or south-facing view. This exposure allows for the most natural lighting to enter the room which can make smaller spaces look larger. Balconies and outdoor patios provide desirable access to the outdoors and are a highly sought after must for most condo dwellers. Although these condo features will cost a premium, they are more than worth the investent, and will help attain a top price when it’s time to re-sell.
Condos with hardwood floors are very popular, not only offering a stylish appearance, but also providing a desirable, easy-to-clean alternative to stain-weary, allergen-inducing carpet. Many sellers in fact replace the broadloom with hardwood before putting their condo up for sale in order to atract buyers.
Buy Condos with Parking
Parking spaces may or may not be included with condo ownership. As parking in Toronto can be scarce, a condo with a parking spot included is a very good investment. Parking spots in condo complexes may be underground or in adjacent lots and will ultimately increase the resale value.
Low Maintenance/Condo Fees
Mostly all condominiums require a yearly or monthly condo fee which includes maintenance, amemnities such as common rooms, pool, laundry facilities, fitness rooms etc. These costs can vary greatly from one condo to the next so be aware of what is offered for what price tag.
Just as each condo offers different amenities so does the level of security. Is there a concierge to the building or a call box at the door? How will visitors and solicitors gain access to the building? These questions should be asked when determining the right fit for your needs.
Size and Space
Condos can be relatively any size and have a loft appeal with an open concept approach or multiple rooms. Condos can be either high rise or low rise meaning the number of floors the actual building is comprised of. In making an educated purchase it first is valuable to see the availability of each of the styles you are interested in and the simple rule of economics is supply and demand. If there are many more low rise condos available than high rise in the area of your choosing, then it suffices to say the resale value of the high rise condos is much higher. Do your homework. A condo is an investment and should be treated as such. In a city such as Toronto, condo living is always a HOT MARKET.
Pets, Renovations, Restrictions
When purchasing a condo in Toronto, know the restrictions of the building you wish to purchase in when things such as pet ownership or renovations are required.
Many condos have very stringent rules about pets and You may not be able to knock down walls or partitions to make a 2 bedroom condo into a luxury one bedroom condo. Some buildings have other restrictions as well and should be discussed before purchase.
Almost all condo purchases will be conditional on the receipt and inspection of the Status Certificate. The status certificate will show the health of the condo corporation and if there are any serious issues that should tell you to not go ahead with the purchase in that particular building. This is best looked at by your lawyer.
In a world class city like Toronto, many trendy areas exist and condos in these districts are often more expensive simply because of their address. If you are working on a budget a condo in the next neighbourhood over may be a better fit for your wallet. Also, not letting go off the singapore new condo launch with all the features and services.
So, at the end its important to have a comfortable place to stay and rest, and this condo concept has made it easier for the unknown or the new ones or the strangers to find such place easily at any place also at a very reasonable price and with a variety of options. The world has experienced it and so has the singapore new condo.