Condos offer simplicity for homeowners. Say goodbye to all your yard maintenance and snow removal worries. Your monthly strata fee will cover many of the key building maintenance costs. Depending on the development, you may even have additional benefits, such as access to a residents-only gym, or spacious storage units. Condos provide ideal homes for people in many life stages, from first-time buyers to downsizers.
There are some key differences to buying a condo compared to buying a house. Speak to your REALTOR® and review our guidelines to make your condo home purchase a smooth one.
Your first step in buying any home should be getting pre-approved for a mortgage. Once you’ve spoken to your mortgage broker or bank, you’ll know exactly how much you can spend on buying a home.
The next step is to figure out what you’re comfortable with. We recommend discussing with your REALTOR® both the upfront costs of purchasing the unit (including the unit sale price, cost of upgrades, applicable taxes and legal fees) and recurring costs (such as strata fees and property taxes).
Focus on Features
Condominium buildings are as unique as different houses. Some are simple and functional, while others offer great curb appeal, high end finishings and a range of amenities. As you explore different condo developments, think about which features are most important to you, and what works within your budget.
Define Your Space
When you purchase a condo, you are buying a unit in a building, and will have shared ownership of common spaces. Every condo development is different. Make sure you have a clear understanding of which elements are your personal responsibility, and which are dealt with by the condominium corporation.
Research the developer or condo association
If you’re buying into a building that is currently under construction, have a look at the developer’s previous work to get an idea of their experience and construction quality.
If you’re buying a resale unit in an existing building, ask a few questions about the condo association to get an idea of how well things are managed.
Most condo developments have a few rules that all residents must adhere to. They generally help protect residents’ interests, and cover potential sources of conflict such as noise, parking and pets. Check them before you buy to make sure they suit your needs.
For more information on buying a condo home, visit CMHC’s Condominium Buyer’s Guide.
Park House Condos
If you are looking for a condo home in Prince George, BC, there are many advantages to purchasing a Park House Condo. These one and two bedroom condo homes in downtown PG offer exceptional finishings, a choice of private patio, yard or covered deck, access to a private residents-only gym, sauna and steam room, gated landscaped grounds, out-of-unit storage, secure underground parking and much more. You’ll also benefit from the financial advantage of 10 years reduced property tax.
Visit the Park House Condos Sales Centre in the Ramada Hotel (494 George Street, Prince George), or call a member of our sales team:
Mark McVey, Managing Broker, Owner, REALTOR® at Team Powerhouse Realty
Cameron McLeod, Owner, REALTOR® at Team Powerhouse Realty
Rolf Van Driesum, Owner, REALTOR® at Team Powerhouse Realty