How to Buy and Sell Your Condo in 2023

How to Buy a Condominium in 2023 (without buyers remorse)

BE FINANCIALLY PREPARED

Buying a condominium is a highly personal decision, and because it is the largest single purchase most people will make, it is critical to be financially prepared and have a firm understanding of the mortgage payments that you are most comfortable with.  One should also consider Maitenance Fees and Property Taxes when figuring out the total montly costs.

DON’T WAIT ON THE SIDELINES

If you’ve outgrown your current place or want to downsize, or want/need to get out of your parents house, waiting until the market conditions are ideal may lead to disappointment. While interest rates have risen in the last year, there are many financing options, future refinance opportunities, and the knowledge that real estate investments provide a significant return.  Prices have dipped from previous highs as well offering some opportunities that will not last.

BUY WHAT YOU NEED AND STAY WITHIN YOUR BUDGET

Have you found a condo you like in a neighbourhood where you want to live? If it fits within your budget, it is likely the best option for you! However, if you are forced to make significant financial sacrifices in order to complete the purchase, you may experience buyer’s remorse and be in danger of making an unwise purchase.

WORK WITH AN AGENT WHO IS FAMILIAR WITH THE AREA

When you decide to sell, we will collaborate to create a sales strategy based on local market trends. In order to help you get the most value from your condo, we will examine its many assets as well as comparable local condo units that have sold.

DON’T DEMAND 2021 PRICES: PRICE IT RIGHT

While the market continues to favour sellers, the number of homes that continue to sit on the market should serve as a reminder of how important it is to listen to your agent and price your property appropriately.

CLEAN, ORGANIZE, AND DECLUTTER

It is critical to present your condominium in the best possible light! Even if you don’t want to make major repairs, we can advise you on the best ways to highlight the beauty of your condo. Cleaning, organising, and decluttering can go a long way! We can also talk about whether simple fixes like new paint, light fixtures, and minor updates would be beneficial to you.