Top Tips when Buying a New Toronto Condo

For the last few years or so, condos have been popping up all over Toronto. Many new Toronto condos are offered from the upper reaches of North York to the western waterfront. So with so many possible choices available, just how should you make your final choice? To help you out, here are some great tips that can save you time and money:

  1. Location, location, location. Just how near is the condo to the places you like to frequent? Is it near your workplace or the kids’ school? Or perhaps it’s near grocery stores and entertainment venues. At the very least, it should be near a transit line. Toronto residents spend 65 minutes a day on average for commuting, so cutting that time offers you more free time for yourself. It’s why so many condos are located near the Yonge-University-Spadina line.
  2. How’s the building? You should have an accurate idea of the condominium building’s overall condition. So either you bring a friend along who knows about condo buildings, or you can hire a home inspector.
  3. Get a realtor. This is probably the best thing you can do, since a realtor can help you narrow down your options and they can help with the buying process. Your realtor can also give you research data on the condo developer and on the history of the condo. Your realtor may even know if another skyscraper is planned next to your building, which may totally ruin your view.
  4. Buy parking space. A parking space doesn’t seem important to some these days, since more people are eschewing car driving to other means of transportation in Toronto. But a parking space makes it much easier for you when it’s to resell the condo. And you can always rent it out to your neighbors.
  5. Talk to the building staff. These people are probably more important to your happiness in your new condo, than your neighbors in your floor. That’s because the building staff can be there for you if you have some problems—and they like you. These are the people who can bend the rules for you when you need them, but they can also make your life hell if they don’t like you at all. So make friends with the staff even before you buy a condo.
  6. Ask and pay for upgrades. If you’re buying a pre-constructed unit, you should arrange for some upgrades right at the beginning. These upgrades include storage, hardwood floors, a granite countertop, and perhaps oversized handles and knobs for your cabinets.
  7. What are the amenities and fees? It’s best if the amenities are things you actually use, since you’re going to pay your share for them whether or not you use them. But a spa and a gym are great selling points for resale when it comes about.

Follow these tips, and not only will you be able to enjoy your new Toronto condo, but you can also be assured that resale will be easier.