Were you unable to attend our first time condo buyer seminar? We had a huge turnout and shared information from mortgage and legal professionals. Just because you couldn’t make it doesn’t mean we can’t help! SkyCity is offering some great promotions until the end of April and our sales professionals are always available to help you navigate the purchase of a pre-construction condo.
Here’s an overview of some of the information we shared:
Cover the basics
- Always get pre-approved for a mortgage so you know exactly how much you can afford
- How much of a down payment do you have? Remember that the larger the down payment, the lower your monthly payments and the more equity you have in your investment
- Remember to calculate condo fees, property taxes, utilities and closing costs, which include lawyer’s fees, moving costs and land transfer tax
Making your decision
- Prioritize your needs over your wants; a strong investment might trump a walk-in closet, or a great location might beat an oversized space
- Location is key in real estate; are you in the right area?
- Are you buying into a building with a solid financial foundation?
- What is included in your condo fees?
Writing an offer
- Condo documents are provided to you for a reason; ensure you understand the community you are buying into
- Direct questions to a lawyer to make sure you understand the condo budget, condo fees and the structure of the condo board
Do you have more questions about buying a pre-construction condo? We can refer you to industry professionals to answer your questions, and you’re always welcome to stop by SkyCity’s presentation centre at 279 Garry Street (Monday to Friday, 11am to 5pm and Saturday noon to 5pm). Book an appointment for a private tour and see how you can Own the Sky!