Nowadays, because of the increasing population and the decreasing available land, homes are getting smaller and the trend is to go up. Condos are becoming more popular and the home of choice for young professionals. If you’re planning to invest in one, there are some factors you might want to consider:
location – as with any real estate investment, location is key. A good location will mean a high resell value and a good return on your investment. Also, consider what you’re needs are. If you want to be close to work, with shops that are readily accessible, then a city condo is for you. But if you want a location with less noise, traffic, pollution and are planning to raise a family, then a condo nearer a suburb and schools may be what you’re looking for.
Monthly dues – monthly dues can vary according to the amenities and services a condominium has. Calculate how much you can afford – remember, these dues will be in addition to your mortgage and can’t be taken off, even if you’re not using the condo’s amenities.
Choosing Your Condo
September 29, 2008