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Old 06-17-2007, 08:57 AM   #7
guzzy
Powerplay Quarterback
 
Join Date: Apr 2006
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Quote:
Originally Posted by burnin_vernon View Post
I've never lived in a condo/appartment before (have always rented suites) but am now going to buy something. Just wondered if anyone had any tips about little stuff like laundry situations, living high or low, sound factors, moving furniture in...the little stuff that the real estate ads dont tell you.
The biggest piece of advice:

If you are pre-approved for $300,000 don't spend it. Your condo fees will likely be $300-$400 a month on top of your mortgage. A lot of people don't factor that in. Obviously that covers a lot of your utilities but still it can surprise people. Just be careful about that one.

For sound factors, make sure it is a concrete and not a wood framed building. The resale will be higher but definitely worth it especially if someone has hard wood floors because you don't hear someone walking in high heel shoes through their suite. Awkwardly, the higher you are I find the street noise louder.

Most important. Every piece of literature or info mailed to you from the condo board needs to be held onto. Monthly minutes, reserve info etc. When you go to sell it can cost you 100's of dollars to retrieve all of the condo board documents. When you take possession and are given the original condo board documents, file them. When they start coming in the mail start filing them regardless of how little it may concern you. I got burned for about $300 when I moved out of my townhouse and I kept a lot of the documents.

Last edited by guzzy; 06-17-2007 at 09:00 AM.
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