Daily Archive: October 7, 2017

Considering a Condo? What You Need to Know

It isn’t easy to immediately secure a good job in today’s market, in fact given how tough and cut-throat the competition has gotten, things have never been more difficult. So, you are going to struggle the first few years and it is going to take time till you are stable enough to have considerable money to put aside into savings. Once you have accumulated enough savings and are now at a more financially stable state, you have to consider the option of moving out from your apartment. Houses are definitely out of the story but condos can still be a good option.

You can find new condominium projects all around you like Edge Condos Mississagua are open for bookings. So, if you are considering getting a condo, it is important that you know a few things beforehand.

Condos are expensive compared to apartments and if you plan on selling them later on, you are not going to get a good return price for them. Condos consist of shared units where you once again, cannot get full privacy. Condo owners are also bound to a strict set of rules that they have to follow. These rules are set by the Homeowner’s Association (HOA). They cover numerous topics like pet policies, party policies etc. that have to be adhered to at all costs. Additionally, along with your monthly deposit for the condo, you also have to pay the monthly Homeowner’s Association Fee (HOA) as well. This fee is used to maintain the exterior of the condominium and to maintain the amenities that are offered regardless of whether or not you actually use them. So, you really need to read through the fine print before you make your decision about whether or not you should go through with getting a condo.