Elements to Consider When Buying or Renting
Elements to consider when purchasing a property include property taxes, size of mortgage payments, structural and design upgrades; exterior upkeep and maintenance, insurance, local amenities and community services, schools, infrastructure, traffic elements, etc. Talking to neighbours is always a good idea if possible, as one can find out details about them and the neighbourhood that realtors will not or cannot reveal.
Elements to consider when renting a property include cable and utility costs; zoning restrictions and bi-laws; lease conditions; who is responsible for exterior upkeep; fines, parking, etc. It is always advisable to read any available reviews on the property and landlords/corporation and again talk to neighbours for a more enlightened view of the situation to which you are entering.
Elements to consider when purchasing a condo include monthly maintenance fees on top of the monthly mortgage payments, condo rules, regulations, and fines; insurance, and expected and unexpected communal upgrades. It pays to do one’s research as to the history of the complex, such as previous flooding, structural damage and requirements, etc.