Advice for buyers looking to buy a condo?

Rose Sklar, Our city Weston April 2020

When looking to buy a condo, do your research first. Explore target areas and narrow down what suits your lifestyle best. What is most important to you? Accessibility to work and transportation, school districts, amenities, etc. Do you prefer a garage or parking space? Do you have a pet? Always check for pet breed and size restrictions. Also, keep in mind that condo living is different from single family home living. Proximity to your neighbors is much closer.

Set a realistic budget and don't forget the maintenance fees. If you are looking in a high rise, consider the exposure and unit floor location. Visit each exposure for your preferred views. Note to self, buildings have a 40 year re inspection to certify the integrity of the building. This many times, can cost the homeowner large assessments to correct those items no longer up to code. Make sure the building has good financials (reserve funds set aside for maintenance projects and future expenditures) Always check for any pending assessments as well as ownership and voting rights in the association. 

What is included in the maintenance? Usually maintenance and repairs to common areas. What do condo fees cover? Who cleans the windows, what are the unit boundaries- interior areas or exterior wall, roof and behind the drywall. Can you have a BBQ or smoke on your balcony? Can you work from home? Always check restrictions. Can you rent your unit? How many times per year, airbnb, short term. Guest rules and limitations - how long can they stay and where can they park? 

Living in a condo has many advantages. With fitness at a high priority, most new buildings now have a gym on premises as well as concierge services. Pool and barbeque areas, as most buildings do not allow a personal BBQ on the balconies. Other important questions to ask. Is there any storage in the building for seasonal items, bikes, sports equipment. pool restrictions, At last, remember, you are responsible for attending meetings or at least getting the minutes. If the bylaws change, you are responsible, even if you did not know.