Buying a new condo can be an exciting time for you. The nuances involved in the purchase of a condo sometimes differ from those of purchasing any other form of real estate. With this in mind, you need to be prepared to deal with what lies ahead in your pursuit of the perfect condo. Before you close the deal, there are certain questions you must ask. These questions are important because they help you to identify the best condo for your needs.
1. Are There Tax Exemptions?
If the condo you’re interested in was previously occupied, you can take advantage of the owner-occupied tax exception. You can look this up in your city’s website or contact the city council and ask whether there’s a possibility of tax exemption on the condo.
2. Where Are the Filters for The Central A/C?
If the condo has forced hot air heat or a central A/C, you need to find out where the filters are located. If you decide to take the condo, you will need to set up reminders to change the filters regularly. How often you replace these filters will depend on the type of filter.
3. Do You Have A Trusted Plumber?
When settling on a condo, it is advisable for you to have a plumber you can call in case of an emergency. Most plumbers are available around the clock with a designated hotline for emergencies. You need to handle any plumbing emergencies as soon as they occur and this is only possible when you have a plumber on call.
4. Is the Management Trustworthy?
You need to learn as much as you can about the condo management team. You can find this information on the company website and also from the current residents. A reliable management team ensures that your condo needs are addressed promptly and that your maintenance funds are used for the purpose they are intended for. The last thing you want is to work with a management team that is not thorough in their work.
5. Who Makes Up the Condo Association?
You need to know the people that make up your condo association. This is especially important if you are thinking of purchasing a condo in a large area. The best way to get to know the members is by attending the association meetings once you have purchased the condo. You can also volunteer for some community projects to familiarize yourself with the association projects and meet different people.
6. Who Are Your Neighbors?
You need to know who your neighbors are and how well you will blend into the environment. While some condos are soundproofed, some are not and thus can sometimes get very noisy for you. The best way to ensure you get a condo in a building that you can live peacefully in is to see if they have any nose policy in their contract. Some condo management companies are against loud music or having loud parties in the condos. A Toronto condo team can help you find a condo in an area you like and with strict privacy guidelines.