Finding a new home is a very exciting experience and Calgary is a great place to purchase any type of property as it is a vibrant and exciting city. If you considering buying a condo in Calgary, there are some things that will need to be considered. As there is a wide spectrum of condominium designs and price ranges to choose from, working with Kevin Leung & Associates
we can look at your price range, lifestyle and other requirements to provide the best possible property to fit your unique needs. Things that should be considered:
Is a Condo Right for me?
Major differences between a condominium and a single family can be summed up in three things - lifestyle, location and maintenance
If lawn mowing or snow shovelling or other general home maintenance is not where you want to spend your time, a condo in Calgary might a the perfect option as this freedom is usually what often attracts people to condo living. Condo’s are generally built in urban areas which is an ideal choice for people wanting to live closer to Calgary downtown and entertainment districts surrounding it like 17th Ave, Inglewood and Kensington. A condo can offer you both a great lifestyle choice and can be a great investment.
Financing a Condo in Calgary
The first step is to arrange for pre-approval mortgage before you start shopping so you know “how much you can afford”. We can assist by passing along some names of people that can provide you some great advice. Now after that, you will have a firm budget to shop within which will save time and avoid the potential of disappointments.
The Cost of Buying a Condo in Calgary
Aside from the obvious cost of purchasing your new Calgary home, you will face many other expenses which you should build into your budget, including
- Legal Fees
- Disbursements or out-of-pocket expenses incurred by the lawyer
- Property tax, condo fee adjusments and utility adjustments
- Moving expenses
Find a Calgary Certified Condo Specialist®
Buying a condo in Calgary can be more complex than buying a house, and it makes sense to work with a Certified Calgary Condo Specialist which we are. You can rely on a condo specialist to clearly explain the paperwork, inform you on commitments and responsibilities incurred as Calgary condo owner.
Location, Location, Location
Currently, there are many condo developments in the Calgary Downtown area to choose from. Beyond downtown Calgary, many areas across the city also offer great condominium options. It is important to explore neighbourhoods to see what fits your lifestyle the best. Somethings to think about include:
What’s Your Criteria?
- Commute to work
- Access to amenities such as restaurants, leisure, shopping, etc
- Buying a home is a large investment and while you can change many things after the purchase, you can’t change the location.
It’s great to have a wish list and what things are absolute necessary and which items are only nice to haves. This will generally make your search for a new home go smoother. Things to consider are:
Narrow Down Your Selection
- Floorplan and size
- Age and style of condo
- Amenities offered with condo
Now with your wish list, your Realtor should be able to find several options that seem like a right fit. Keep in mind that there is usually more than one right property for you, so being objective and using your agent as fresh and objective eye will usually help. This way when you find the right property, you will know for sure.
Understand the Condominium Contract
Once you have found the right property, your condo specialist can clearly explain the contract and other documents to inform you on commitments and responsibilities incurred as Calgary condo owner.
Making an Offer
Now its time to make an offer on a Condo in Calgary, your realtor will assist you though process. A experience Realtor can make this complex process easier by guiding you, protecting your best interest and helping you though the offer, handling conditions, closing of the purchase and follow up involved with your move.
If you are thinking of Buying a condo in Calgary or Selling a condo in Calgary, please call me at 403-835-7668 or fill in the form below.