Getting an Investment Condo? Below Is a Guide!

Things to look for in an Investment Condo

A pal of mine called me a few weeks earlier, as well as asked me to provide him a Market Evaluation on his investment condo. Ends up he had acquired a small condo regarding a year earlier, and had actually done so 'independently', a decision he currently regretted for several factors. As we were talking about his financial investment condo, my mind went over the top attributes any type of capitalist should be trying to find when purchasing a condominium.

1) Area, Location, Loc ...
You have actually heard this before. The top 3 most important points in property are ... well, you know. Its no different when acquiring an investment condo, or a condo for your very own personal usage. Will it be easy to re-sell, or does the area hinder your re-sale initiatives? If you're going to lease it out, is the condo located near mass transit courses? Is the neighbourhood secure? Lots of elements come into play.

2) Auto parking
Parking, specifically in central places such as midtown, is always at a premium. Even if you are fortunate enough to lease your financial investment condo to someone that does not drive their own automobile, reselling a condo without its own parking area is more difficult.

3) Balcony
With a number of apartment-to-condo conversions underway, it's very easy to forget that a balcony is still among one of the most important functions asked for by buyers. Without a place to rest outside, probably check out a book in the fresh air or toss some beef on the 'que, proprietors and also renters will certainly feel trapped inside their condo. Ensure your financial investment condo has a balcony or, if located on the major floor, it has an outdoor patio room.

4) In-Suite Laundry
Less important with solitary men, however virtually 'vital' to female condo customers and tenants. Having a safe and secure place to do your very own laundry is, at the very least, a 'great to have' feature.

The above 4 functions are possibly one of the most crucial ones to take into consideration. Relying on your rate range, you may want to consider several much more:

Bonus Offer: Concrete Structure
Usually a little more expensive, but well worth the cost. Quieter, much more strong as well as steady, a financial investment condo with concrete floorings and also walls will also make for simpler resale.

Benefit: Central Air Conditioning
Air conditioning and also home heating is an additional nice-to-have feature, making the condo more comfortable and simpler to lease.

Perk: Secure Vehicle Parking
Particularly with our wintertime environment, having underground or interior auto parking is an often-requested function, albeit at a cost costs

Back to my friend: His personal acquisition wound up being an extremely bad offer, as his financial investment condo had NONE of these functions. Found in a harsh part of town, no vehicle parking area, no balcony, no insuite laundry and on the 3rd floor with no elevator will make this a very tough sale, even in a hot market.

Moral of the tale: If you're mosting likely to spend some lots of money right into realty, call a REAL ESTATE PROFESSIONAL ® PRIOR TO you pay the cash money. I would certainly a lot rather assist you in the ideal instructions, than attempt to aid deal with a blunder currently made.


A close friend of mine called me a couple of weeks earlier, and also asked me to provide him a Market Examination on his financial investment condo. As we were speaking regarding his investment condo, my mind went over the top features any investor need to be looking for when acquiring a condo.

Its no various when acquiring a financial investment condo, or a New Condo Near Rivergate condo for your very own individual use. Without an area to sit outside, perhaps review a publication in the fresh air or toss some beef on the 'que, occupants and owners will feel trapped inside their condo. Make sure your investment condo has a balcony or, if located on the major flooring, it has an outdoor patio area.