Milton, Ontario is a quickly growing town located in the Greater Toronto Area (GTA) with a population of over 113,000, making it Canada’s 14th largest municipality. This city offers some of the best outdoor activities, family destinations, and natural scenes making it one of the most desirable places on the map. With the cost of single-family homes soaring in larger cities, Milton offers the perfect balance of affordability and access to city amenities.
Milton is ideal for those looking to purchase condos for sale whether you are entering the real estate market for the first time or downsizing from a single-family home. Before making such a large purchase it is important to ask key questions and be informed.
In this 2023 guide, we will explore what to consider and examine questions you should ask before purchasing a Milton condo.
What Is the History of the Building?
It is important to take a look into a condo building’s past and history to evaluate the state of the unit and infrastructure. First time condo owners should work with an experienced and knowledgeable real estate agent to examine all paperwork on the property.
Questions to ask and research:
- When was the building constructed?
- Who is the condo management?
- Are there any reports and documents on the property?
- Are there major renovations or repairs needed?
- Does the building have any common areas?
Answering these questions will give you a better picture of the overall condition of the building and if it is best suited to meet your needs.
What Amenities are Included?
A key question to ask is what type of amenities are included with the unit. Amenities can be huge assets that add to the quality of life and have great resale value. Today, real estate developers are including a wide array of amenities with condo buildings to make living comfortable and luxurious.
Questions to ask:
- Does the building have a gym or pool?
- Is there 24-hour security?
- What type of amenities are included outside?
- Are there any fees for the extra amenities?
Amenities can be a major factor in deciding if the building is the right fit. Purchasing a condo comes with a responsibility to abide by certain rules which may include additional fees but could be a huge plus depending on what you want.
What Is the Cost of Condo Fees?
When purchasing a condo, it is important to consider the monthly cost of condo fees. These fees are calculated as a part of the budget to manage the shared interests and resources of the condo owners.
Questions to ask:
- What are the monthly condo fees?
- Are there any other additional fees or expenses?
- Are there any new ongoing or future construction projects or roads.
- What is the condition of the roadways in the neighborhood?
- Do the fees cover exterior maintenance, snow removal?
Condo fees are an important factor when purchasing a condo. Depending on the size and type of the unit, you can expect to pay anywhere from $300 to $500 to cover costs for maintenance, security, etc.
What is the Location and Proximity to Amenities?
When making a purchase, it is also essential to ask about the exact location. After all, the location can play a major factor when it comes to resale value and amenities.
Questions to ask:
- What is the actual address and location?
- How far is the grocery store?
- What is the distance to public transportation, highways, and parks?
- What is a distance to the nearest schools?
- Are there any nearby tourist attractions, businesses, or restaurants?
When examining the location, it is important to think about how it will affect your daily life. If the unit is too far away from transportation, grocery stores, and other amenities, it might not be practical in the long-term.
What Is the State of The Unit?
When considering a purchase, it is also important to ask questions about the interior of the unit. Before signing on the bottom line, make sure to inspect the condition of the condo unit first-hand.
Questions to ask:
- What is the condition of the walls, ceiling, and doors?
- Are there any new renovations or repairs needed?
- If there are any appliances included in the purchase, are they functioning?
- What is the overall view or view from the unit?
- What is the age of the roof and other structural elements?
It is important to examine how the unit has been maintained and note any potential repairs or renovations that might be needed.
What is the Proximity to Emergency Services?
Prior to signing off on the purchase, it is advised to ask questions about the proximity of emergency services. Being close to emergency services is an important factor in quality of life and safety.
Questions to ask:
- Is there a hospital nearby?
- What is the average response time of local police and fire services?
- Are there any walk-in clinics or urgent care centers in the area?
Your security and peace of mind should be a priority and it is important to take a look at the proximity to emergency services in the area.
Conclusion
When considering the purchase of a condo apartment in Milton, it is essential to ask questions and demand detailed answers. Asking the right questions and knowing what to look for can make the purchase process easier and allow you to find the perfect unit.
A professional and experienced real estate agent can make all the difference in the process and assist you in answering all of your questions throughout the purchase process. The SousaSells.ca Team, lead by Tony Sousa, is passionate about helping buyers find their perfect place and navigate through the Milton real estate market.
FAQs
- Q: How do I know if the condo is the right fit for me?
A: When considering the purchase of a condo it is important to ask about the history of the building, amenities, cost of condo fees, location and proximity to amenities, state of the unit, and proximity to emergency services. Answering these questions will help you make an informed decision on if the unit is the right fit for you. - Q: Does the unit come with appliances?
A: This question should be directed to the real estate agent who is processing the deal. Generally, the appliances are included in the purchase of the condo unit but it is important to confirm with your real estate agent before signing the contract. - Q: Do I need to hire a real estate agent to purchase a condo?
A: Working with an experienced and knowledgeable real estate agent is highly recommended in the purchase process. A good real estate agent can help navigate through the paperwork and answer any questions you may have. - Q: How do I know if the building is structurally sound?
A: Before making any decisions, it is important to ask questions about the history of the building, any reports and documents, and any major renovations or repairs needed. An experienced real estate agent can make all the difference in the process and assist you in answering all of your questions throughout the purchase process. - Q: Are there any additional fees to consider when purchasing a condo?
A: Depending on the size and type of the unit, you can expect to pay anywhere from $300 to $500 to cover costs for maintenance, security, etc. It is important to ask about any additional fees or expenses and be aware of any new ongoing or future construction projects.
When making such an important purchase, it is essential to be informed, ask questions, and make the decision that is best suited for you and your needs.
