You finally have a down payment saved, and you’re ready to leave your renting days behind. Homeownership can provide a huge sense of security because you’re finally in your own place. Instead of handing over half your paycheck to the landlord, you’re paying off debt and building equity in something that you own.
Buying a condo can be a great, more cost-effective way to enter the real estate market than a single-family home. Prices are more affordable, which makes a major difference in overpriced Canada’s real estate market. They’re a great way to enter the market, and they’re perfect for anyone who doesn’t want to deal with mowing the lawn, shovelling snow, or worrying about roof repairs.
These tips can help you find condos for sale in Ottawa that you’re going to love living in.
Working with a realtor is a great way to learn more about the condo landscape, and you’ll need one to handle the complex paperwork of buying property, but you can still take an active role in searching for listings yourself.
You’re excited about buying a new place, and you want to know everything that’s out there. Don’t just rely on the realtor’s suggestions. Go online and check out listings to see all of your options. You can find hidden gems, get a sense of how different neighbourhoods are priced, and see what kind of amenities you’re willing to pay for.
It’s easy to look at the glass towers downtown and assume that’s all there is to the condo market. The word “condominium” doesn’t refer to an architectural style, though. It just refers to the type of ownership. A condo can be an apartment in a high-rise, low-rise, triplex, duplex, or even a rowhouse or semi-detached.
You have a lot more options than you might think. Whether you want a home with an incredible view within walking distance of Glebe or your favourite neighbourhood or a front yard and a garage, you can find a condo that fits your lifestyle and your dreams.
Where you live can make an enormous difference in your quality of life. If you already live in Ottawa, you probably already have your favourite neighbourhoods, restaurants, shops, and parks. Start your search in the neighbourhoods you love most, or at least check out the prices in those areas.
As much as you may want to think about the neighbourhood itself, it also helps to consider where you work and where you may be likely to work in the future. Studies show that adding even 20 minutes to your commute can have a major impact on your happiness.
Longer commutes lead to lower feelings of work satisfaction and general contentedness in life. If you have room in your budget, paying more or compromising on space or amenities in exchange for proximity can be a worthwhile trade.
Condo buildings often come with a variety of amenities. These include things like gyms, pools, outdoor common areas, and spaces that you can book when you want to have guests over, like cinema rooms or lounges that offer more space than your own place. Make a shortlist of the amenities you can’t live without.
Buying a condo is a more affordable way to get started in the real estate market. Use these tips to find the perfect place for you.
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