Effective Condo Comparison Shopping
By Linda Mitchell - Monarch Corporation
Today’s savvy condominium purchasers have a wide array of information sources at their disposal, with the Internet topping the list. Educated shopping decisions are preferable to the alternative – but make sure you organize your research results in a way that allows you to compare apples to apples.
Today’s savvy condominium purchasers have a wide array of information sources at their disposal, with the Internet topping the list. People come into our sales offices with ads, articles and website printouts, having already researched Monarch and our competition.
Educated shopping decisions are preferable to the alternative – but make sure you organize your research results in a way that allows you to compare apples to apples. I have seen purchasers buy based on price and square footage alone, and then regret their decisions later when they realize they didn’t consider all the factors. A little logic goes a long way in avoiding this kind of mistake.
With more than 230 condominium projects underway in Toronto, how can you juggle all the variables? Probably more than 150 of them will not be located in an area you want or offer the suite size or configuration you are looking for. Consider the location in relation to where you work, where your family lives, and whether public transportation is easily available.
Then prioritize before you start your serious looking. Create a two-part checklist that you copy and take with you to sales offices. List all your must-haves and make a separate column for items that would be nice-to-have.
It’s human nature to want it all, but realistically that’s rarely possible. Hold out for your must-haves, and if there are some nice-to-haves included, consider that a bonus.
By all means, decide what condo suite size you need, but keep in mind that square footage is only one measure of livability. Take notes on how the suite is configured, and whether or not your currentfurniture will fit. Are there large windows and/or a terrace or balcony that will offer views?
Be particularly careful when comparing features and finishes. Those who consider elegant entertaining a priority may be happier in a more compact suite appointed with granite countertops and hardwood floors than a larger one without these finishes. For single women, the building’s security features may rise to the top of the list.
Choose a condominium that has amenities you’ll use, rather than the one that encompasses the most elaborate collection. If you don’t swim, a pool should not be a big factor in your choice unless you consider it important to your suite’s resale value.
Find out how much maintenance fees are and what they cover.
Keep a level head when you decide on upgrades, and be sure to factor those into your comparison list in a fair way. And remember to research the builder/developers of the condos you’re comparing, so you purchase from a reputable company that has a proven track record.
There are so many wonderful condominiums in Toronto, that with a little organization on your part, you’ll find just the right one.
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Contact the Jeffrey Team for more information
