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Condos and Townhomes

Victoria Condos and Townhomes offer the ultimate in easy of management and low-maintenance lifestyle. In Victoria there are number of major factors to consider when deciding to purchase an attached dwelling and often times there are more factors to consider than a typical single family home. Some of these factors include: strata fees, property management, strata rules and bylaws, insurance, parking and reserve fund studies. It’s critical to work with an agent that has a complete understanding of these and other factors.

Here are some 20 tips on purchasing a condos or townhomes:

  1. Seek financial qualification, to determine how much mortgage you can afford.
  2. Crunch the numbers with your financial backer; you’ll need extra money for closing costs, moving, land transfer tax and lawyers’ fees.
  3. Be prepared to see a variety of styles: low-rise, high-rise, with or without amenities such as pools or gym facilities.
  4. Purchase the largest suite you can afford. Studios and bachelors are often more difficult to re-sell.
  5. Visit the neighbourhood at different times of the day and evening. Does it suit you?
  6. Choose a great view. Not only will it make day-to-day life more appealing, but it helps with resale later.
  7. Bear in mind that a southern exposure, although bright and sunny, may also be hot in the summer.
  8. Avoid a suite beside or across from the elevator.
  9. A parking space is highly recommended. Even if you don’t drive, you can always rent it out.
  10. A locker is also highly recommended. There is rarely if ever enough storage space in a condo.
  11. Find out about visitor parking. How many spaces are available?
  12. With a resale condo, examine the appliances and wear and tear on the suite closely.
  13. Note the condition of the lobby and common areas such as hallways and stairwells.
  14. Find out who the occupants of the building are: mostly owners or tenants? Owners are preferable.
  15. Find out the monthly condo maintenance fees and what exactly they include (and don’t include).
  16. What are the property taxes? Are they included in the maintenance fees?
  17. Chat with other owners and ask about their experience in the building.
  18. Visit the suite at least twice, if you can, before making your offer.
  19. Know what comparable suites in the building and in the area have sold for.
  20. When you are ready to make an offer, make it conditional on your lawyer reviewing the Condominium Documents and Status Certificate.

If you’re looking for more information on buying or selling a condo or townhome, email us at info@matteide.com or call 250-704-9949.

Buying A Home
  • Checklist for House Hunting
  • Buying a Home - A Sound Investment In Your Future
  • Tips for Buying Strata Properties
  • Tips for First-Time Home Buyers
Selling A Home
  • Thinking of Selling? Using a REALTOR® Just Makes Sense
  • Selling Your Home - What a Listing Entails
  • Selling Your Home - How to Review an Offer
  • Tips on Sprucing Up Your Home Prior to Selling
Revenue Properties
  • Purchasing A Revenue Property in Victoria BC
  • Houses With Suites
Arranging Financing
  • Home Buying and Finances - Making the Right Decisions
  • Arranging A Mortgage
Victoria Open Houses
Victoria BC Open Houses

Matt Eide - Newport Realty Ltd. - 1144 Fort Street, Victoria, BC, V8V 3K8 - (250) 385-2033

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The information being provided on this website is for consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.