Ready to downsize or simply make a change? Here, six things that are key to deciding if a condo is the right choice for you.
The kids have grown up and moved out. The garden is becoming increasingly labour intensive and that snow removal – well, you'd much rather be reading the paper and having a second cup of coffee.
The word 'condo' suddenly sounds awfully appealing.
But there are important factors to think about. Considerations to ponder. Here are six things that award-winning, Toronto-based sales representative Brian Elder thinks are key to deciding if a condo is the right choice for you. "It's a huge decision," acknowledges Brian, who works for Royal LePage Real Estate Services Ltd. "You want to make sure you make that decision with eyes wide open."
1) Analyze the space you actually need – or want. "I only use about a third of my house, but the thought of no longer having it is kind of a scary thing," says Brian. "You should also get out and see what space is available within your price range. For some people, having a certain volume of space is reassuring and it can feel threatening when you no longer have it."
2) Think about the kind of community you want to be surrounded by. If you're thinking condo, be sure to look beyond the building itself and ask yourself what part of the town or city you want to live in. Is it important to be near art galleries and museums, or shops, for example? Do you want to be able to walk to most things or have to drive? Would you want a condo, like your house, to be in a residential area or in a more commercial district? Think carefully about what you'd want to have close at hand.
3) Who do you want your neighbours to be? "We all want to be surrounded by like-minded people, so it's important to be aware of the kinds of people who live in the building you're contemplating. Some condos are younger, vibrant, busy – which may not be a good fit for mature people wanting to downsize." Brian advises talking to the neighbours to see who's living there.
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