First Time Home Buyer Guide (CP feedback and input welcome)

[Travis Munroe]

Based on feedback, the plan is to create an entire series based on topics people are interested in hearing about. Feedback on the final product is greatly welcome as well as suggestions on topics you would like to see a video created for.

[ken0042]

Condo vs house- how a $300K condo can cost you more per month than a $400K house. Show the benefits of each.

Are you taking a step on the property ladder, or is this your forever (at least 10 years home.) Should you buy things for resale value, or get the things you want. (Personal annoyance, the number of times I heard "you should think about resale" when buying both of my houses.)

[Peanut]

Figure out your ACTUAL "must-haves". Buy the cheapest house you can that meets those requirements. It's amazing how fast you adapt to your surroundings... is not having an ensuite bath, walk-in closet, or the latest and greatest kitchen really preferable to saving hundreds of thousands of dollars in mortgage and interest payments.

In my 20's I bought into all the housing/realty propaganda but more and more I think the system is pretty crazy. Just get the cheapest thing you can stand to live in and fix it up yourself over time.

[polak]

For the love of all that is holy, before you buy a condo have someone go to the upstairs unit (or ask whoever lives there) and have them walk and run around and listen to the noise or you'll end up like me where you can't stand living in the biggest investment of your life.

Unless of course you're looking at a condo in Mahogany.... Then don't worry about it.... They're all great......

I'm actually legitimately worried that I won't be able to sell or rent it to anyone unless my upstairs neighbours move out and are replaced by people without kids, who walk light footed. It sucks.

[Travis Munroe]

Originally Posted by polak

For the love of all that is holy, before you buy a condo have someone go to the upstairs unit (or ask whoever lives there) and have them walk and run around and listen to the noise or you'll end up like me where you can't stand living in the biggest investment of your life.

Unless of course you're looking at a condo in Mahogany.... Then don't worry about it.... They're all great......

I'm actually legitimately worried that I won't be able to sell or rent it to anyone unless my upstairs neighbours move out and are replaced by people without kids who walk light footed. It sucks.

Condo buyers often overlook one of the first discussions I have with them... how important is a concrete building? At the time many do not see the benefit of paying more money for something they do not get to physically see but this is a huge concern after they move in.

[polak]

I have friends who lived in wooden condos and I went over to their places all of the time and never heard anything outrageous so I was never concerned about noise from above. I was really only concerned about me being too loud.

Oh man I've never been so wrong in my life.

[calgarywinning]

Always live on the top floor of a Condo complex.

Another factor is water will inevitable leak and if you are below this can be another huge factor.

[skudr248]

I rented on a main floor of a wooden condo building, my bedroom was right beside the in/out exit door to the parking lot with the beautiful, loud ass staircase right there. I ended up moving out a month and a half later. Thank #### I added a "clause" in the rental agreement saying I only had to give 1 month notice regardless of lease length. Never again.

[polak]

To be fair when I was getting insurance for my condo they told me the top and bottom floors were the most likely to have water damage.

[Oling_Roachinen]

Originally Posted by polak

To be fair when I was getting insurance for my condo they told me the top and bottom floors were the most likely to have water damage.

Is that because of poorly installed sinks?

[calgarywinning]

Outer envelope is common property. Inner envelope is your property. So living on the top floor is the best choice, if possible.