Even for previous and current homeowners, buying a condominium can be tricky. It’s much different than buying a single-family home! On the opposite end of the spectrum, the process is a learning curve for first-time buyers.
Don’t worry, though. We are here to help! Here’s a bit of advice to get you started in the buying process. As always, though, please reach out to our Shane Multi-Family Sales Team with any questions.
Are you pre-approved?
The best place to start your search for any kind of home ownership is with a mortgage pre-approval. This will help you determine your budget.
What is your budget?
Aside from your mortgage, consider extra costs associated with buying a new home. This could be moving fees, lawyers, or home inspections. Buying a new condo would have different fees than buying pre-owned. All these numbers will help you determine your budget.
What are your must-haves?
Outline your wish list before you start your search to weed out any condos that just aren’t what you are looking for. It’s easy to fall off track if you aren’t definitive about your needs.
Is the condominium community for you?
For this one, you should consider both the larger neighbourhood within your city, but also the close-knit community inside your building.
Some condo buildings cater to different types of crowds: younger, older, students, and family friendly are just a few possibilities. It’s important you choose a location and a community that is a good fit for you and your lifestyle. With multiple people living under one roof, you will want to take the extra time to make sure it’s a great fit!
Which suite checks all your boxes?
Some condo dwellers like main floor suites, while others want the top floor with a corner view. Ask which units are available and choose one that is best for you! These details might even be included in your “must-have” list.
Can you customize it?
When you buy a new condo, there’s a chance that you can customize the interior finishes. This is how to make your new condo really feel like home from the get-go! Ask our sales team about your customization options when you choose a Shane Multi-Family condo.
What does the condo include?
Different condos have different features—some included and some extra. Weigh your extras like storage space, parking spots, and on-site facilities. Some condos even offer off-site perks and partnerships with local businesses!
What are the rules and fees?
Each condo will have its own set of rules—and likely its own set of fees. Review the fine print before signing on the dotted line so you know exactly what you are getting into! This includes details like pet policies.
When did you visit the community?
Some communities are very different depending on the time of day. It’s good to walk or drive around the area a couple times before you buy to make sure you are happy with the neighbourhood.
Are they a reputable builder?
This is important for any type of home purchase! Make sure you choose to build or buy with a respected developer in your city. Shane Multi-Family checks all the right boxes because we recently won the title of BILD Multi-Family Builder of the Year – Calgary Region.
We understand that buying can be stressful. Let us know if you have any questions. We are here to help!