Because we’re the mortgage broker Toronto that wants you to be well informed, we’ve got all the latest news. In this case, more skyscrapers are on the way. That’s the news that we got from the Toronto Sun recently.
Those of you who live in the 416 might not think that’s really news but think again. The report says that we’re actually going to have 31 new skyscrapers by the year 2024. That’s quite a bit of work already underway. It’s even more incredible when you consider there’s another 50 in the planning stages.
So, we thought supplying you with a few tips would be appropriate. Here’s what you need to be looking for when these are built and you want to move into one.
Know What You’re Getting
There’s a big myth first-time condo buyers believe. They think that they own the entire unit.
One of the first steps is sorting through all the differences between buying a condo and a single-family house. As your mortgage broker Toronto, we can help you get the best mortgage rates and terms. However, there’s more to vertical living.
One of the first things you’ll need to grow accustomed to is what you own and what you don’t. With a single-family house everything you see is pretty much yours. Not so with the condo. There are common areas and aspects like the roof and siding that usually belong to the Association.
There’s a little bit more leeway on the inside. However, it’s still important to know all of the association’s bylaws and rules. For example, you can do some decorating and renovating providing you don’t knock down loadbearing walls.
On the other hand, there are lots of excellent advantages to condos like having maintenance done for you. As your Mortgage Broker Toronto, we can help get you a good deal on the financing.
