Acquiring an Investment Condo? Below Is a Guide!

Points to seek in a Financial investment Condo

A pal of mine called me a few weeks ago, and asked me to give him a Market Evaluation on his investment condo. Ends up he had actually bought a little condo regarding a year back, and had done so 'independently', a choice he currently regretted for a number of reasons. As we were talking about his investment condo, my mind went over the leading attributes any type of financier ought to be looking for when purchasing a condominium.

The top 3 most crucial things in actual estate are ... well, you recognize. Its no different when purchasing a financial investment condo, or a condo for your very own personal usage. If you're going to rent it out, is the condo situated near public transport routes?

2) Car parking
Auto parking, specifically in main places such as midtown, is always at a premium. Even if you are fortunate sufficient to rent out your financial investment condo to a person who does not drive their very own automobile, reselling a condo without its very own car parking area is harder.

3) Balcony
With a number of apartment-to-condo conversions underway, it's easy to neglect that a balcony is still one of one of the most crucial features asked for by buyers. Without a place to sit outdoors, maybe read a publication in the fresh air or throw some beef on the 'que, owners and tenants will certainly feel trapped inside their condo. See to it your investment condo has a balcony or, if situated on the primary flooring, it has New Condo Near Rivergate a patio room.

4) In-Suite Laundry
Lesser with single men, however almost 'important' to female condo customers and occupants. Having a protected area to do your own washing is, at the very least, a 'great to have' feature.

The above 4 functions are probably the most vital ones to consider. Relying on your price array, you may wish to take into consideration a number of a lot more:

Bonus: Concrete Building
Generally a little a lot more expensive, however well worth the rate. Quieter, much more strong and also stable, a financial investment condo with concrete floors as well as wall surfaces will likewise create less complicated resale.

Incentive: Central Air
Central air as well as home heating is one more nice-to-have attribute, making the condo more comfortable and also easier to rent out.

Benefit: Secure Car Park
Especially with our winter season environment, having underground or interior car parking is an often-requested function, albeit at a cost premium

Back to my friend: His personal purchase ended up being a very poor bargain, as his financial investment condo had NONE of these attributes. Found in a harsh part of community, no auto parking area, no balcony, no insuite laundry as well as on the 3rd floor with no elevator will make this a really challenging sale, also in a warm market.

Precept of the story: If you're going to invest some lots of money right into property, call a REAL ESTATE PROFESSIONAL ® PRIOR TO you pay the cash money. I would certainly a lot instead lead you in the appropriate direction, than attempt to aid correct a blunder currently made.


A friend of mine called me a couple of weeks earlier, as well as asked me to provide him a Market Assessment on his investment condo. As we were chatting concerning his financial investment condo, my mind went over the leading functions any type of investor should be looking for when purchasing a condo.

Its no various when acquiring a financial investment condo, or a condo for your very own personal use. Without an area to sit outside, perhaps review a publication in the fresh air or toss some beef on the 'que, owners as well as renters will certainly really feel trapped inside their condo. Make sure your investment condo has a balcony or, if found on the primary flooring, it has an outdoor patio area.