Recent statistics show that the condo market is not favorable for sellers. In fact, there is a huge decline in price and sales volume over the last few years. It is estimated that an average condo will take about 150 days to sell. You can get Condos at a competitive price. Moreover, there is the ongoing construction of condos, and there are very few buyers.
As you probably know, buying a real estate property is a massive investment. It does not matter whether you are buying a condo, plex, or house, buying the ideal one makes a huge difference.
Buying the right condo
Purchasing a condo is quite easy as compared to selling. You do not want to buy a condo only to sell it after two years because it cannot serve you well anymore. The following are some important things you ought to consider when buying a condo:
Other than the cost, this is another vital element to consider. You need to purchase a condo in an upmarket or upcoming area. It should be adjacent to public transport, restaurants, shops, and other features that attract people such as hospitals.
A condo that does not have a balcony deters about 80% of potential buyers. This is because people love the idea of walking out and do BBQ.
At first, you may think that windows that face a parking lot or another building do not bother you. The truth is that for most buyers it bothers them. Since there are several condos to choose from, buyers want to purchase one that offers them a lot of views.
If you are purchasing a condo, you need one that has a garage. This will offer you a competitive edge when reselling. Ensure it has exterior parking. This is because you will not want to be removing snow during winter.
Nowadays, there are several cookie-cutter condos on the market. These are high rise buildings that have nearly everything looking the same and are made of low-quality materials. Ensure you find a condo that has great features. Look for things such as patio doors, designer kitchen, and a brick wall. This is because such features can grab the attention of potential buyers. Thus, a condo should have something special that makes you choose it over others.…