Acquiring an Investment Condo? Below Is a Guide!

Things to look for in an Investment Condo

A friend of mine called me a couple of weeks earlier, and also asked me to provide him a Market Analysis on his investment condo. Ends up he had bought a tiny condo regarding a year earlier, and had actually done so 'privately', a choice he currently regretted for a number of reasons. As we were speaking about his investment condo, my mind went over the leading functions any kind of financier should be trying to find when purchasing a condo.

1) Location, Area, Loc ...
You've heard this in the past. The leading three essential things in property are ... well, you understand. Its no different when acquiring an investment condo, or a condo for your very own individual use. Will it be very easy to re-sell, or does the location hinder your re-sale efforts? If you're mosting likely to rent it out, is the condo located near public transport paths? Is the area safe? Lots of factors enter play.

2) Vehicle parking
Parking, specifically in central areas such as midtown, is always at a premium. Even if you are fortunate adequate to lease your investment condo to somebody that does not drive their very own vehicle, re-selling a condo without its own auto parking spot is more difficult.

3) Balcony
With numerous apartment-to-condo conversions underway, it's easy to fail to remember that a balcony is still among the most essential attributes asked for by buyers. Without a spot to sit outside, probably read a book in the fresh air or toss some beef on the 'que, tenants and also owners will feel trapped inside their condo. Make certain your financial investment condo has a balcony or, if situated on the main floor, it has an outdoor patio room.

4) In-Suite Washing
Lesser with single men, yet practically 'vital' to female condo purchasers as well as tenants. Having a safe area to do your very own washing is, at the very least, a 'good to have' attribute.

The above 4 features are perhaps the most crucial ones to consider. Depending on your price variety, you might wish to take into consideration numerous more:

Perk: Concrete Building
Normally a little bit more expensive, however well worth the cost. Quieter, extra strong and stable, an investment condo with concrete floors and walls will likewise create less complicated resale.

Perk: Central Air Conditioning
Central air conditioning and heating is one more nice-to-have function, making the condo a lot more comfy and also easier to rent out.

Perk: Secure Auto Parking
Specifically with our winter months climate, having underground or indoor car parking is an often-requested function, albeit at a cost costs

Back to my friend: His exclusive acquisition wound up being a very poor deal, as his investment condo had NONE of these functions. Found in a harsh part of community, no car parking area, no balcony, no insuite washing as well as on the third flooring with no elevator will make this a very difficult sale, even in a hot market.

Moral of the story: If you're mosting likely to spend some lots of money right into property, call a REAL ESTATE PROFESSIONAL ® PRIOR TO Martin Modern Condo you pay the cash money. I would certainly a lot instead lead you in the right 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 offer him a Market Examination on his financial investment condo. As we were speaking concerning his financial investment condo, my mind went over the leading functions any type of financier ought to be looking for when purchasing a condominium.

Its no different when purchasing an investment condo, or a condo for your own individual usage. Without a place to rest outdoors, maybe check out a book in the fresh air or toss some beef on the 'que, proprietors as well as renters will feel trapped inside their condo. Make sure your financial investment condo has a balcony or, if situated on the primary floor, it has a patio space.