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3 Things to Know Before You Buy a New Ottawa Condo

Last updated on May 11th, 2021 at 01:11 pm

As with the rest of the country, investing in a condominium has become a popular real estate option.

But there are some things that you should consider if you decide to take this route.

Today, I’m going to tell you the three things you should be aware of before you invest in an Ottawa condo.

What You Should Consider When Investing in a New Ottawa Condo

Determine if the condominium lifestyle is for you. When you live in a condo, you will need to follow the group conscious in terms of covenants and restrictions for the community. Are you prepared for that? On the other hand, condominium living also brings with it a lower maintenance lifestyle since you won’t be responsible for caring for the exterior of the building.

Be aware of some of the setbacks associated with new construction condos. For instance, the construction schedule might not go exactly according to plan. What’s more, you might not get the exact condominium shown to you in the showroom or in the design drawings because there may be some construction variations.

If you’re buying new construction, be aware that issues during construction may result in increased fees for you. For instance, if the estimated budget is not sufficient to meet ongoing expenses, you may see early increases in the condominium fees. So factor that into your budgeting.

Ready to Take That Next Step Toward Purchasing an Ottawa Condo?

Now that you’re aware of the potential setbacks of purchasing a new Ottawa condo, you’re ready to make an educated decision on whether this is the right path for you as a buyer.

If it is, please contact us, Geoff and Bobbie McGowan, today. We’re your dedicated Ottawa real estate experts and we would love to assist you by first telling you about available Ottawa condo listings.

Until next time,