Posted 11.13.13 @ 9:55
Buying condos in Oakville (and other Oakville real estate) is all about choices. If you just want a low maintenance lifestyle or if you want a beautiful panoramic view over Lake Ontario, you’ll find it here. It’s important not to start looking for a condo before you consider exactly what you need. It’s easy to get stuck in a cycle of emotional buying and bidding, but here we’re going to go over everything you need to know about buying condos in Oakville, so let’s get started.
What Kind of Condo Do You Want?
Think about what kind of condo you want. What type of lifestyle will this new home help you achieve? Do you want a downtown urban lifestyle with low stress and low maintenance? Do you need a condo with amenities like personal shoppers or dog walkers? Are you willing to pay large HOA (home owner’s association) fees every month? Do you need to be in a neighbourhood that emphasizes walkability or do you lean more towards getting away from it all?
All of these are questions you need to ask yourself before you even begin to look for at real estate for sale! This will help you narrow down what kind of co-op building you want to live in, what neighbourhood will suit you best and give you a home that will last a lifetime.
Are Home Owners Associations That Bad?
HOAs get a bad rep, but they’re really not that bad! It will all depend on who is running things and how they do it. It’s important to have a mini-government running the building; let’s face it, many people just don’t think about how their actions can affect others in such close quarters. HOAs keep common areas tidy, for amenities and necessary repairs to the building when they’re needed.
One thing that’s important to note is that most HOA insurance will cover the exterior of the building itself, and you may need to invest in condo insurance of your own to protect your possessions and improvements. Don’t be afraid to ask questions while viewing a condo!
Are Condos a Good Investment?
Condos tend to appreciate at a slower rate, meaning they gain value more slowly over time. This means you can find opulent luxury condos at great prices; detached homes appreciate much more quickly but can be prone to housing bubbles. People love condos and the value added with resale-ability makes condos a fantastic investment.
It’s important to note that many people enter the process without knowing what they want, without knowing what’s available. They’ll get emotionally invested in a condo for no good reason; don’t let this happen to you! When shopping don’t do it without an Oakville real estate agent.
No matter what your taste is, one of the experienced members of the Goodale Miller team will help you find the right condo! We’ll help you find the right neighbourhood and show you comparable homes so you know you’re getting the right Oakville luxury home.