Buying a Condo

Acquiring a condo in neighborhoods that are quite close to the heart of Toronto would be a very valuable investment because you get to experience cultural and social activities, dynamic nightlife, excellent and shopping and easy movement to work. The guidance/services of a professional and trustworthy realtor such as the east realtors are required to help make the right decisions and finding that condo that suits your lifestyle desire in Toronto.  There are some things to consider such as:

Advance Financial Preparations

Lenders would definitely scrutinize all your debts, income credit score and down payment which would take almost 6 months to a year or thereabouts in the process of purchasing your desired condo in Toronto, so it is quite necessary to get your credit statement and make sure to pay down your credit card and loan balances as well as correcting errors if any to hasten up the process.

Determine Your Position

There are several questions we have to ask to ascertain if we are in the right position to be a homeowner and such questions are: how much down payment can you afford as well as taxes, utilities, mortgage and more? do you have a stable job? Within the next few years, how soon may your needs change?  Do you plan on starting a family? Would there be any need for work relocation?

Mortgage Pre-Approval

Once you pre-qualify for that mortgage, the next step is immediately making an offer while knowing your financial worth when you find that desired condo in Toronto. While determining your down payment, it is quite important to know that the pre-approval would be in writing stating that there would be a guaranteed interest rate which would be valid for 90-120 days. The only way your monthly mortgage payment can be lowered is if large deposits are made in the initial stage. Finding out the most competitive amount and rate you would have to interview several mortgage brokers and banks of which I can give you the contact of lenders that are credible and qualified on inquiry.

As Your Real Estate Agent

There are many benefits you would derive such as making sure that you have a stress free process in obtaining your investment in Toronto and we would do this by providing the needed knowledge of condominium contracts from management companies as well as a reputation of developers and the local neighborhood, current market trends etc.

  • Choosing your community
  • Experienced on complex clauses in purchase offers
  • Access to private listings and brokers version of the MLS (the public version has a delay in updates)
  • Trained and experienced in negotiation tactics and multiple offer situations
  • Informing and teaching you on all aspects of the closing process
  • Avoiding overpay for clients through our knowledge of the condos current value
  • Picking your desired future neighborhood

It is quite important to find that neighborhood that brings to you the type of lifestyle you desire both now and in the future because of rental or resale and Toronto is a city which you can choose various types of the desired neighborhood and select your community as well as your home. Try considering researching transportation alternatives, recreational activities, proximity to shopping, health services, green spaces, public transport and dining activities in your desired environment. Make sure to visit the environment during the day and evening. My experience with several environments, communities, and neighborhood, will adequately provide you with all necessary information.

Explore the Amenities

Features for amenities and leisure such as swimming pool, fitness centers, guest suites, party and game rooms, car washes, libraries and a lot more are one of the attractions of living in a condo building. This feature adds values to your life so they are included in the condo fee.