{"id":2333,"date":"2015-06-25T16:15:21","date_gmt":"2015-06-25T16:15:21","guid":{"rendered":"http:\/\/www.montreal-realestate.ca\/english\/?p=2333"},"modified":"2019-03-29T16:58:30","modified_gmt":"2019-03-29T16:58:30","slug":"what-to-look-for-when-buying-a-condo","status":"publish","type":"post","link":"https:\/\/www.montreal-realestate.ca\/english\/what-to-look-for-when-buying-a-condo\/","title":{"rendered":"What To Look For When Buying a Condo"},"content":{"rendered":"

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By Jennifer Lynn Walker<\/span><\/p>\n

Buying a condo is easy. The trick is to buy a unit that will hold its value when it comes time to sell again. Here is a handy list of characteristics to look for when making that initial purchase.<\/span><\/p>\n

Location<\/span><\/h3>\n

Aside from price, this is at the top of everyone’s priority list. You want to either buy in an up-and-coming area or an area that is already happening. Be sure you are close to public transport, shops, restaurants, or some sort of feature that attracts people like a hospital or a market.<\/span><\/p>\n

Garage<\/span><\/h3>\n

Having a garage will give you an edge, when it comes time to re-sell. If there is no garage, make sure that the unit has exterior parking. Winters in the city are a hassle. People don’t want to be continually moving their car for the snow plows or walking a great distance to get from the car to the condo.<\/span><\/p>\n

Views<\/span><\/h3>\n

You might think windows that face a parking lot or an ugly building don’t bother you. It will bother most buyers. If there are a lot of units to choose from, buyers will choose a great view over a brick wall any day.<\/span><\/p>\n

Light<\/span><\/h3>\n

Buyers never ask for a dark living space. The rule is to make sure daylight touches every room. The more, the better.<\/span><\/p>\n

\"7215<\/span><\/p>\n

Balcony<\/span><\/h3>\n

No balcony? Tougher sale. People like to be able to walk out and BBQ. A roof top option is a good secondary choice.<\/span><\/p>\n

Special features<\/span><\/h3>\n

There are a lot of cookie cutter condos right now. You know the ones… high rises where each unit looks the same and uses the materials. Find a condo with a funky brick wall, designer kitchen, patio doors to a balcony… something that grabs people when they walk in.<\/span><\/p>\n

<\/span><\/p>\n

 <\/p>\n

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MEET JENN<\/h1>\n

Real Estate Broker & Educator<\/h4>\n

Jennifer Lynn Walker has specialized in buying and selling both residential and multiplex properties since 2003. She’s built a strong network of specialist, to give her clients a seamless experience throughout the real estate journey. Founder of\u00a0Montreal Real Estate Investor\u2019s Group, and Jolly Green Homes.\u00a0\u00a0<\/em>How can I help you today?<\/a><\/strong><\/p>\n

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Size<\/span><\/h3>\n

Size doesn’t really matter. The closer you are to downtown, the smaller your unit will likely be. That’s expected. However, if the average unit size for the neighbourhood is 1,200 sqare feet, don’t buy a condo for 400 square feet unless the price per square foot is a steal. When it comes time for resale, all your competition will be selling units three times larger yours.<\/span><\/p>\n

The flow<\/span><\/h3>\n

Get your Feng Shui books out! Make sure the unit feels spacious and open, not boxy and confined.<\/span><\/p>\n

When you buy a condo, you want to ensure your unit appeals to others. By ensuring you have most of the features on this list, you\u2019ll have an easy time re-couping your money or even making a good profit when it comes time to sell.<\/span><\/p>\n

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 <\/p>\n

This article was featured in:<\/p>\n

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Well it’s no surprise that the condo market is not doing all that great for sellers. Over the last year the statistics show a decline in sale volume and price. Average days to sell a condo is now 123 days, compared to 90 days in 2009. The construction of condos are still going strong and there aren’t enough buyers to go around. In NDG\/CDN alone there are about 950 condos for sale, and since January 2015, there were only 435 sales in those areas. Which means it took 6 months to sell 1\/2 the product on the market. And this area is one of the lucky ones.<\/p>\n

So what to do?<\/p>\n

Buying real estate is a great investment. 12 years ago after reading “Rich Dad, Poor Dad” by Robert Kiyosake, convinced me that I wanted to get into real estate. I got my license and also bought my first property. Since then, with the real estate I own, my equity grew from 50,000$ to $300,000. Whether it be a house, condo or plex, buying the right one make a difference to your pocket book.<\/p>\n","protected":false},"author":2,"featured_media":7210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"

Buying a condo is easy. The trick is to buy a unit that will hold its value when it comes time to sell again. Here is a handy list of characteristics to look for when making that initial purchase.<\/p>

Location<\/h3>

Aside from price, this is at the top of everyone's priority list. You want to either buy in an up-and-coming area or an area that is already happening. Be sure you are close to public transport, shops, restaurants, or some sort of feature that attracts people like a hospital or a market.<\/p>

Garage<\/h3>

Having a garage will give you an edge, when it comes time to re-sell. If there is no garage, make sure that the unit has exterior parking. Winters in the city are a hassle. People don't want to be continually moving their car for the snow plows or walking a great distance to get from the car to the condo.<\/p>

Views<\/h3>

You might think windows that face a parking lot or an ugly building don't bother you. It will bother most buyers. If there are a lot of units to choose from, buyers will choose a great view over a brick wall any day.<\/p>

Light<\/h3>

Buyers never ask for a dark living space. The rule is to make sure daylight touches every room. The more, the better.<\/p>

\"7215<\/p>

Balcony<\/h3>

No balcony? Tougher sale. People like to be able to walk out and BBQ. A roof top option is a good secondary choice.<\/p>

Special features<\/h3>

There are a lot of cookie cutter condos right now. You know the ones... high rises where each unit looks the same and uses the materials. Find a condo with a funky brick wall, designer kitchen, patio doors to a balcony... something that grabs people when they walk in.<\/p>

Size<\/h3>

Size doesn't really matter. The closer you are to downtown, the smaller your unit will likely be. That's expected. However, if the average unit size for the neighbourhood is 1,200 sqare feet, don't buy a condo for 400 square feet unless the price per square foot is a steal. When it comes time for resale, all your competition will be selling units three times larger yours.<\/p>

The flow<\/h3>

Get your Feng Shui books out! Make sure the unit feels spacious and open, not boxy and confined.<\/p>

When you buy a condo, you want to ensure your unit appeals to others. By ensuring you have most of the features on this list, you\u2019ll have an easy time re-couping your money or even making a good profit when it comes time to sell.<\/p>

\u00a0<\/p>

Featured in:<\/h3>

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