If you are planning to purchase a condominium in Canada, you will need to establish whether it falls under the category of condos. The homes in Canada, just like the other places fall under leasehold or freehold land category. Freehold land category means that an individual or entity permanently owns the land while leasehold implies that the property can be returned to the government after the lease expires.
The lease period is typically between 60 and 99 years. The contract can, however, be renewed upon paying the new rates as per the current market value. For more information on the ideal condos, visit Ottawalife.com.
When you are considering purchasing a condo, you need to find the picture. Look at things like the balcony and the bedroom window if they have been positioned correctly. Most people love placing their balconies and windows to the skylines.
This helps them to view and watch the beautiful scenery of the environment. If the condo is going to give you a spectacular view, then you should be ready to pay more for the same. If you want to resale your condo in future for the right price, then such kind of condo is ideal for you.
Safety of the Building
When purchasing a condo, you need to look at the safety of the building as it matters a lot. Make sure that the building has the evacuation and safety measures in place.
These measures are critical since when emergencies occur, people need to be moved from the structures. In the event of calamities like fires, floods, and bomb threats, people should be removed easily from the condominium units.
The parking space is another critical factor to look at when purchasing a condo. In most cases, the condominiums typically come with one parking slot for every user. However, for the extra parking space, they may be required to pay subject to the availability.
Check the number of the parking slot in the property and match them with the number of units. Other than the parking space, there is a need for a playing field for the children.
Last but not least, the elevator is a critical part of the condo. The service elevator helps in facilitating the movements of the residents in and out of the property.
The number of service elevators should be enough to serve all the residents at any given time. It should also be subjected to regular maintenance.