01/23/2025
❗So, you want to invest in a condo? Here are four important questions to ask yourself first.
4 Things To Ask Yourself Before Investing In Condos
1. What stipulations does the lender require? For instance, many lenders require 20-25 percent down (this usually applies to most real estate investments – condo or otherwise).
2. How long do you intend to keep ownership of the condo? Condos tend to appreciate slower than individual real estate properties. Of course, the area and the market have something to do with appreciation as well
3. What do hoa fees cover and who pays them homeowner’s association (hoa) hoas are typically in charge of things like sewer, water, garbage, exterior maintenance, lawn care, security, a rec center, pool, and more.
4. Will you manage the condo yourself or hire a property manager?
If you choose to manage the building yourself, you’ll need to set firm rules in the lease agreement as to your operating hours and where/who to contact after hours or when you’re out of town.
PRANAV BHATT | Century21 Percy Fulton Ltd.
[email protected] | 4163198925
www.buyorsellhomes.ca
PRANAV BHATT