Buying a condo, it’s not that an easy thing and if you are not careful there is 99% of making a mistake. With the fact that when you are buying the condo, it will not be the same to when you are buying the house. It differs with the process and everything else. One of the difference it’s that you will have to live with the condo board and if you don’t choose the right one, it will be the worst experience you will ever experience. But if you have the right questions that you can ask the board members before going ahead and buying the condo will not lead you to make a mistake. Precondo has some of the best condos in Toronto and the GTA. The questions that you have to ask before going ahead and buying the condo include;
What fee are available?
For the condo, you don’t pay for it once there is a monthly fee and they all differ with what you want, ask what the fee will be for and when should you pay? Knowing the amount and the time will help you out when you are managing your time so that you don’t incur additional charges. The expense that you will incur inside the house will be all on you. Make sure that you ask the board if they have plans of raising the fee anytime soon.
Ask to see the financial statement
A financial statement it’s not something that should be kept a secret, it should be an open book. So if the board have an issue with giving you the financial statement that should be a red flag that the cost is more. When given the financial statement ensure that you check if there is anything that’s is not right, no need to worry if you are not sure about what to look for the financial statement is something that can easily be studied.
What are the rules?
The association that you will choose will have its set out rules. Then you should ask for the rules so that you can be able to review. If you don’t ask about the rules, then it will too late when you find out that you can’t do some of the things that you wish to do. For example, some of the condos have the rule that you cannot decorate on certain parts of the condo. If the rules are not okay with you, ask if they can reconsider and if they can’t then you can move on to the next condo.