Buying a condo for the first time can be exhilarating as well as annoying. Why? Let’s see- Do you want a pleasant one bedroom condo unit which will be near your job location? Maybe you also want a workout room along with other amenities? But no matter what you choose, there are some things you should evaluate before buying XO condos King Street:
Ensure that you’re a condo person
Make sure that you are comfortable with living with others or with certain rules and shared common areas. Remember that not everyone will share your views on every single thing.
The pre-construction or pre-owned decision
In a pre-construction condo, you will be going in basically blind as you will only get to see the sketches kept in the sales office. The fact of the matter is that you won’t get to see what you are actually getting till you enter it. XO Condos king street has both options.
Do background research on the builder
- If you are opting for a pre-construction suite then check up on the builder and see if there have been any complaints regarding the workmanship from previous projects.
- If resale is the route you are taking then ensure that the builder is in the business and the company is economically stable. This is because if the opposite is true then the condo board won’t be able to take any form of legal action if flaws are found later on.
- Ask other people living there what shared problems have been faced by them and how quickly those were resolved.
Measure your Suite
Before going through sale, get out a tape and make sure that you are getting what was advertised.
Read up on your legal obligations
Write everything down when it comes to the purchase, verbal arguments won’t work in court. Also, have your lawyer review it all.
Make a note of your closing costs
Closing costs can add in another 1.5% to 4% to the price of the unit. In the case of pre-construction units check the occupancy costs and other costs you may have to pay up till the building is registered.
Read up on the Status Certificate
This will help you know whether the board is spending the monthly fees appropriately, as well as whether the current owner is up to date on paying all the expenses. Also get to know the duties and functions of XO condos King Street board.
Understand all the condo fees
These monthly fees will ensure that you won’t have to worry about problems regarding the inside of the unit. Before purchasing, find out what your condo fees include. For pre-owned ones, make an inquiry on the increment of fees annually.
Always think future
Plan ahead- one day even you may have to sell the XO condos King Street you have been living in and so while buying one with hardwood floors, granite counter tops etc. Also, don’t buy a suite which looks over a garbage pickup area or suite which are near noisy areas.
So before buying or making any decision, make sure you do a full research on everything possible and think it all through so that you aren’t left with a deal you regret.