Buying a condo in Collingwood can be a great option for many people looking for the best buy on real estate in Collingwood Ontario. However, it is important that you realize it is nothing like buying a new home. This means that simply because you have purchased a home before does not mean that you are equipped with the needed knowledge to buy a condo. There are a few questions that you would never think of asking that you need to get the answers to before you make this type of purchase.
Here are a few questions you should ask your REALTOR® before buying a condo in Collingwood Ontario.
Do you know about all Condo Rules? The difference between buying a home and buying a condo in Collingwood can be found in the details. There are a lot more details that you need to consider when you own a condo. The biggest part involves the condo association rules that must be followed. When you buy a condo, you are buying a residence within a waterfront condo community that expects you to follow specific rules. When you own a home, you have the ability to enhance the curb appeal of your home based on your own preferences. However, when you own a condo, you have to follow specific guidelines about the look of your condo including the balcony and lawn. The outside of the condo is owned by the community and these rules must be followed, so you need to ask about them before you make this type of purchase. This is the only way that you can know if you will be able to follow them or not.
Asking a Collingwood Real Estate Agent with Condo buying experience can help answer this question for you.
What are the Condo Fees? Buying a condo is a major purchase and you need to be fully aware of all your fees. You need to know what the exact cost of the condo fees will be and what these fees are really designed to cover. Many of these condo fees are designed to cover expenses including building maintenance, master insurance, trash pickup, road maintenance and more. There are some communities that come attached with higher fees than others. This means that you need to ask what the fees are for each Condo in Collingwood before you decide to make a purchase.
Ask who is in charge? It is always a good idea to speak with someone that is in charge of the complex that you wish to buy a condo in Collingwood. It can range from a professionally managed complex to one that is simply managed by a homeowners association. This means that you need to find out who is in charge, because they will be able to offer you the most accurate information and help you to make a much more informed decision.
Working with the right Collingwood Real Estate Agent with Condo buying experience will give you the answer before you even need to ask.
Ask about the Reserve Funds? It is always a good idea to ask about the state of the reserve fund. This means that you want to know what the financial standing of the association is. This is the only way to determine if the association has planned adequately for unexpected expenses in the future.
It is my goal to make buying a condo in Collingwood, ON a seamless and rewarding process.
When working with a REALTOR® like Christine, she can help you perform the crucial research, so there are no surprises later on. It is her goal to make buying a Collingwood condo for waterfront living or investment purposes a seamless and rewarding process.