Before you start looking for a condo in London Ontario to purchase, size, style, price & condition are all taken into consideration, but before you make an offer, have you given any thought to?
- Who lives here? What age group? Children?
- What are the average prices for the last 12-18 months?
- What are the average days on the market for these condos?
- How long has this unit been on the market & how many times?
- Are there any planned construction nearby that will affect or destroy your views or traffic flows?
And then, if you do make an offer, what you and a good Realtor will do:
- A Financing Clause if necessary
- A Home Inspection- Yes it is a condo and the roof, windows and doors may be covered by the condo corporation, but -Put it in!
- A Status Certificate- The financial situation of the condo corporation & don’t just rely on your lawyer’s opinion, they know the law, they are not accountants or financial advisers.
- What are the condo rules, are pets allowed, visitor parking, etc? (A good real estate lawyer will be able to tell you that after he or she has reviewed the status report)
- What percentage of units occupied are owner-occupied vs renters? (A good real estate lawyer will be able to tell you that after he or she has reviewed the status report)
So, it can get quite exciting and fun looking for and selecting a condo to buy in London Ontario, but if you let emotions cloud your judgement, it could get costly or cause you to be dissatisfied in a few months!
Like any great meal or a piece of cake, it helps to know what the ingredients are that make it great and in what order they have been entered!