Monday, February 6, 2023

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What Should I Look For When Condo Hunting?

Searching for a new condo to rent can be an exciting time. Whether you’re embarking on the journey for your first condo alone, looking to move in with a partner, or just hoping to move to a new area, there are plenty of factors to consider. We’ve created this list of some of the most important things to look for when condo hunting.

Location

Location is one of the most important factors when deciding whether a condo is right for you. As you begin your search, think about what areas of the city you like and consider the locations of places you frequent, such as your workplace, your children’s schools, and even your favorite bars and restaurants. Don’t forget to also think about how close you are to your friends and family.

Access to public transportation is also crucial to consider when comparing locations. When you find listings you like, be sure to check bus and metro maps to see where the closest stops are. Explore the different routes available to ensure your potential new home is convenient when trying to get to your destinations.

Price

Establishing your price range early is essential when condo hunting. Determine if renting works best for you, or consider the variety of condos for sale in Montreal. The general rule for determining how much you should spend on your housing per month is 30% of your income, and it’s important to remember that most rentals require you to earn at least three times the monthly rental amount to receive approval. When looking at prices, don’t forget about potential additional costs, such as insurance, utilities, and homeowners or condo owners association fees.

Amenities

Many condos include amenities to help you get the most out of your living space. For example, some condo communities include shared living spaces for residents, such as recreation rooms, rooftop areas, or fitness centers. Depending on what you’re looking for, amenities may bump up the price a bit, but they may add value to your daily life.

Size and Layout

Ensure your new condo has enough space for everything you need and a layout that’s conducive to your lifestyle. Start by thinking about how many bedrooms you need, then think about what you may need extra space for, such as a home office, a guest room, or even storage. It’s also important to think about if you want things like a big kitchen for cooking or a large living room for entertaining. Factor in your preferences for living areas, such as if you prefer an open floor plan, and use this to help you choose your ideal floor plan.

These are just a few factors that you should consider when hunting for a new condo. Set yourself up for success by creating a list of the most important things to you. To help you stay organized during your search, consider creating a spreadsheet to record each listing you find, which allows you to compare what you like best about them and how well they meet your criteria.

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