Whether you are looking to live in the centre, inner-city, or suburbs, Calgary’s new condo market inventory offers an unprecedented range of choices to homebuyers today — presenting an excellent investment opportunity to enjoy while you wait for the market to return.
Just a few things to consider when purchasing a new condo are:
- Is the square footage accurate — have your Realtor verify
- How the unit will be heated/cooled and where heating, air conditioning and water heaters are located
- Where the unit you are considering is located on the floor - is it next to the elevator, what direction does it face, etc.
- What noise reduction measures have been taken
- Cost of monthly condo fees, what they cover and are there any other costs
- Is the unit covered by a new home warranty and what does it cover
More and more Canadians are choosing condos as they provide a relatively carefree lifestyle. So whether you are entering the market as a first-time buyer or simplifying your life by downsizing, the Mel Star Team has the expertise to ensure all the right questions are asked and to negotiate the best value possible.
Is It Good To Buy A House In Foreclosure?
As home prices soar in many cities, buyers are looking towards foreclosures as an affordable option for landing their dream home. Typically, a foreclosure occurs when a homeowner can no longer make the mortgage payments and either the home becomes a bank-owned property or becomes a court-ordered judicial sale.
When the home becomes a bank-owned property, the home will be vacated, and then offered for sale. When the home becomes a judicial sale, in many cases the owner still has equity in the home and would still occupy the home until court proceedings end and an offer is accepted. Typically, the owner would then have 30-45 days to vacate the property.
New Condos FAQs
Having a Realtor is important when purchasing a new condo because they will be representing you exclusively and ensuring all your best interests are looked after. The sales team for the builder works in the best interest of the builder. There is also a common misconception that you will pay more if you use a Realtor to purchase a new property. It doesn’t cost you anything to use a Realtor and you will not end up paying more for your condo.
Although it is not mandatory, we always recommend buyers have the condo docs reviewed by a professional. A proper condo doc review will provide you with insight into the overall health of the condo building, the financial documents and the reserve fund study. By studying these documents, a professional will be able to give you a really clear picture of what kind of investment you’re making.
One of the most attractive aspects of buying in the pre-construction phase is that units will be the cheapest. However, the answer to this question depends largely on your preferences and goals. There are many things to consider before making this decision. We would recommend discussing your options with us in order for us to help you make the best decision.
A Star Team Working For You
The Mel Star team combines experience, insight, influence, connections, and access to the most cutting-edge marketing technologies to deliver results to buyers and sellers in Calgary’s Real Estates market. Our award-winning team will guide you through the process of buying or selling with smart strategies, skilled negotiations, and a customer-focused approach. Connect with us today to begin your journey to a successful Real Estate close. Call us at 1-403-861-9944.
CONTACT US
We are here to help and we'd love to hear from you. Call us at 1-403-861-9944 and we will be in touch shortly!