The Complete Guide to Buying or Renting a Condo

The Complete Guide to Buying or Renting a Condo

Renting or buying a condo can be a stressful, tiring and complicated process – looking for the most value possible for your money, while trying to fulfill the amenities and conveniences that you desire.

With the process already complicated enough, completing your search for the right condo in your area can be a time consuming and drawn out affair – something that renters and buyers are always looking to avoid.

We've built a wish-list of what to look for when buying or renting a condo – our complete guide to your search for the perfect condo and make the search a breeze for you.

Location

Something so obvious, yet often overlooked by many renters who are too focused on the bottom line. Do you mind the big city buzz? Are you looking for a more slow-paced, relaxed life style? How long is your commute? All of these are great questions to ask yourself, as you can always change the inside of your condo – but you can't change the location once you've already signed on the dotted line.

What is your actual Budget?

When you start looking for to rent or buy, make sure you know how much you can actually spend – remember there are other fees and costs involved in both processes that can make the purchase or monthly rental fee higher. If you're renting, make sure you know if utilities are included in the monthly rent – if not, remember that utilities, including cable and internet, parking fees, tenants insurance and other bills will add to your total renting budget. Be honest with your self about your maximum budget, this way you avoid the stress of overspending later on.

Must have's

What are your absolute must-haves for your lifestyle? Can you live without your own laundry appliances? How about a balcony? Do you hate carpet? It's likely that if you hate them now or need something in your life, that it will not change over the next 12 months – put yourself in a position to enjoy your new place, not somewhere you will grow to hate throughout your time there.

Your Timeline

While a rental search can sometimes be quick as can be, it's impossible to really know how long you search will be for a new condo – especially when you're looking for ultimate value and the perfect place to live. Be realistic with your timeline and give yourself time to see all your options, without being rushed. The worst thing you can do is rush into a decision because you gave yourself a month to find a new home, then get stuck in a year-long lease in a place you don't like.

Additional Questions to ask:

• How long will you be renting?
• Do you need parking?
• How many bedrooms do you need?
• How many bathrooms do you need?
• Is there an elevator? Do you need an elevator?
• What is the building's security system like?
• Are there other amenities in the building?
• What do my condo fee's cover?

Remember, everyone's journey for a new condo is different – whether you are buying or renting, make sure you create your own wish-list to help ease the pains and stress throughout the process.

Using this guide to help you in your search will help you save time, while ultimately finding you the most value for your money.

Contact Peter Sagos at Condo Ottawa to find out more.
Email: peter@condo613.ca
Phone No. : 613.276.0059
http://www.condo613.ca