Real Estate

Things might not be as easy as they seem for the first time home buyers. Real estate looks like an easy market but it can be very tricky. You can expect to bump into all sort of mean people and make all sort of foolish mistakes while choosing a house for yourself. Here is a list of things that a first time house buyer should keep in mind while going for the purchase. 

 Panda Condos by lifetime development and Charles Condos are two big projects launching this fall and builders are promoting heavily on the internet to make them successful.

 

 

  1. Type of home. First thing you need to understand what kind of home you want. Either you want to live in Downtown Condo like Axis Condo or 75 Esplanade Condo or you want a house in suburb remote cities. There are pro and cons for both. You need to decide beforehand.
  2. Know your range. It is wise to know how much you can actually afford. The banks and money lenders will give you the figure after getting through the complete calculation but those numbers cannot be true. You need to think about all the incurring expenses you might come across until your mortgage term matures. You must not get overwhelmed and spend too much on your first home. It is advisable to go easy the first time.
  3. Make a wishlist. You should make a list of things you want in your new house. Make a list with your priorities at the top. This will help a great deal in knowing what is best for you.
  4. The closing costs. Done forget about the closing costs which may be something from 1.5 to 3.5 percent of your actual cost. This may include the inspection fee, legal fees, transfer tax, insurances and interest adjustment.
  5. Get a pre approval after having decided how much you have in your pocket, having calculated the closing costs and deciding what you want the next step is to contact the bank or money lenders for mortgage plans. It is very important to get a mortgage approval. Most of the real estate agents don’t entertain clients who come before getting a mortgage approval.
  6. Different payment options. It is very necessary to know all the payment options available to you. Many payment plans might look appealing but they may have hidden catches. It is important to know all the options and study them in detail.
  7. Calculate the moving expenses moving is expensive if you have hired professionals to help you out in this regard and if you are required to travel a great distance. It is important to add moving costs to your budget and know all the hidden moving costs and be prepared for them.

all these tips are very useful for a first time house buyer in Canada.

Real Estate

Buying Condos: Practical Tips on How to Make Downsizing Work

New condos are your best choice if you are planning for a home downsizing. Why downsize in the first place? Downsizing your home to a condo helps to significantly cut your monthly costs. A much smaller yet quality place to stay reduces your monthly expenses, particularly housing costs and utility bills. You refinance your mortgage and ensure bigger cash flow than expenditures. Therefore downsizing your home makes perfect money sense. High rise living is one of the best options that can help materialize your plans.

 

Downsizing with New Condos

There are various choices when planning to make a life-changing real estate downsize. You can sell your home to buy an apartment, townhouse, or condo. You may also rent instead of buying a new unit or you are simply selling in order to move to another state or country. The first step to making your downsizing plans work is to have a clear vision why you are downsizing. Once you are clear with your goals, you can explore countless opportunities for an investment on new condos like halo condos yonge.

 

What are the things you need to know about condos?

Condo is usually connected to luxurious lifestyle. Nowadays, condominiums are also symbols of practical and lucrative living. Don’t worry if you have a tight budget for your downsizing plans because there is a condo unit that is ideal for your budget range. Retirees and retiring baby boomers are those who are most commonly looking for a home downsize. Condo living is ideal for everyone, regardless of age, economic status, and lifestyle. The first step to downsizing is to know the condo type, price, location, and future outlook of your next viable investment.

 

Before buying a condo unit…

Buying a condominium requires you to comply with the monthly maintenance fees. Different developers have their own monthly fees, based on what the condo association has agreed upon. For instance, new condos in Square One have maintenance fees that range from 50 cents to 65 cents per square foot. Other locations have their own rates on top of the maintenance costs that may the condominium corporation may not cover.

Checkout this video for downsizing right