It is easy to get caught up in the energy and excitement as you look for a condo to buy in East Van. There are seemingly countless details to examine. From choosing a neighbourhood and community to setting your budget and exploring different sized units, shopping for condos is not always a walk in the park. Thankfully, our agents at Team Kerr will provide you with a trustworthy and experienced realtor in East Van to help make sure no stone goes left unturned. There are many unique things to consider that make buying a condo different than purchasing a home. As you begin to consider finding a condo to buy in East Van, keep the following 3 items in mind as you move through the process.
Because condos are often a part of a larger complex, there is typically a management team in charge of overall operations. Having worked extensively in the area your, our team of East Van REALTORS will be familiar with many of these companies, but you should also do some research on your own. Speak with the condo manager and current tenants to get a feel for how things are run. Occasionally you may find a complex that does not have property managers but, instead, is managed democratically by all of the residents. Of course there is a unique set of challenges that accompany this model of management and, ultimately, it is up to you to see what is the best fit. Feel free to ask our team any questions you may have about this.
Before making any major commitment, you should read your potential condo association’s insurance policy front to back. Of course, our team can help with this as well. Essentially you will want to identify what all is covered, that estimates to rebuild or remodel are accurate, and if your personal belongings are insured in case of a flood, fire, or other accident. If any of it seems confusing or strange, don’t be afraid to ask questions.
Condos are not necessarily cheap to begin with and, as you create a budget for your dream home, you should take a good long look at monthly association fees as well. The cost of these will vary from building to building and will cover a variety of things including cost of repairs, maintenance, and amenities. It is crucial to have a good understanding of what you are paying for in addition to the cost of your mortgage and if these fees line-up with your budget and desires for condo ownership.
Owning a condo is a unique form of property ownership, but our specialized team of East Van REALTORS are here to help you best navigate those waters. Whether you have already started to investigate condos or are well on your way in the process, contact Team Kerr today and let us give you a helping hand!
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