Looking to purchase a condo in the near future? Here are some questions you should consider before choosing your next home.
• What’s the history of the condo building? Any persistent problems with utilities, etc.?
• How does the common property look: well-maintained and managed?
• What’s the current financial status of the corporation? (You are legally allowed to ask for this information, and it must be made available to you)
• How many units are occupied, rented?
• How many stalls are designated for owners, visitors? What are the parking restrictions?
• How much money is in the reserve fund?
• Are there any amenities or recreation facilities in common areas, and how much do they cost to maintain?
• What are the condo fees?
• Who is the property manager? (Wouldn’t hurt to do a quick online search on the reputation of the company managing the property)
