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modern condo
By - Karen Groth

Factors Considered When Purchasing a New Condo

Purchasing a condo is a worthy investment. Condominiums have become of the popular housing choices, making them a perfect option for those guys who are seeking low-maintenance lifestyles. Owning one does not come with a lot of responsibilities. You don’t have to get worried about moving the lawn or shoveling snow. These houses are readily available in major urban locations. Investors who want to buy new condos should consider Mississauga Condos For Sale. The following are the essential factors that you need to keep in mind when making this important purchase.

Amenities

Condo-ammenities

Amenities ere extras loved by people including party rooms, gym, concierge, visitor parking, guest suites, and swimming pools. A good building should have all the essential amenities. The condo fees are generally higher in buildings with more facilities. This is something that you need to take into consideration.

Location, Location

Location is one of the most crucial factors that affect the value of a building. Buying a condo is a long-term investment even if you might not live there forever. Check whether the neighborhood is on the upswing. Are there some ongoing projects that could increase the value of the property? The view of a condo is also essential. Ideally, you should avoid investing in a property that is blocked by other developments.

Size

The size matters a lot when purchasing a building. The square footage of a building should always be determined, especially when purchasing a pre-construction. This can help you in knowing whether your furniture will fit in the existing condo. Purchasing a small condo can force you to upgrade to large after some time.

Reserve Funds

money-reserve fund

Buyers should ensure that there is enough money in their reserve fund. This is the best way of avoiding the risk of the condo fees skyrocketing. This money can be used in repaving for capital expenses like repairing the roof, repairing amenities and repaving the parking lots. Working with a reputable real estate attorney can assist you in reviewing the status certificate, thereby ensuring that the reserve fund is properly managed.

Condo Rules

Living in a condominium does not come with the freedom associated with house ownership. Its residents are required to abide by the set laws and restrictions including pest restrictions. For instance, rearing dogs might not be allowed. In other places, you will not be allowed to renovate your unit without permission. It is, therefore, imperative to find out about such rules/restrictions ahead of time to make sure that you are not affected or caught off guard.

island home
By - Karen Groth

Investing in Property Like Celebrities

When it comes to investing, one of the hottest market to invest in is the real estate market. A lot of people love investing in property, even celebrities. We’ve all heard the news of stars owning several houses. Besides purchasing them for vacation homes and a place to stop over, these homes that they have is an asset they have acquired for investment purposes.

We all know the likes of Beyonce, Taylor Swift, as well as the Kardashian clan who own houses not only to live in but also other homes that they rarely use. These houses are held for investment purposes.

Investing itself is a very crucial thing that you need to do. It is essential that you own something that can be cashed in later in the future. Therefore, you should try investing in the real estate market and shop for property, as the celebrities do. In this article, we are going to talk and discuss several key practices that you can take as an example from the stars. Here is how to invest like a celebrity:

Sell It When the Price Is Right

mansion

Let’s take actor Donal Logue as an example. You can read this donal logue interview to know more about him. He sold his Woodland Hills home for $1.16 million. His initial buying price was $970,000. That is a 20% increase from his initial purchase, which was seven years ago.

This increase in sales shows how the real estate market keeps on growing and growing while the prices get higher and higher. However, you should keep in mind that when you want to sell your property, you should look at the condition of the market and only sell when you think the price is right.

House Flipping

A current trend nowadays when it comes to real estate is house flipping. House flipping is a trend where people buy houses for a very cheap price because of its unlivable conditions and then they redesign and make improvements to it so that they can sell it for a higher price. Nicole Polizzi, or more known as Snooki, even has a reality show based on her attempts in this endeavor with his husband.

Quality or Quantity

vacation home

When investing, it is important to note that quality always comes first. A tip from celebrities is that you should always consider the location. Location is a crucial consideration when it comes to selecting real estate. Like the George Clooney, Brad Pitt, and Leonardi DiCaprio, they all have homes in prime luxury vacation spots. Once you buy real estate that is located in an excellent location, only then you can start and expand your collection by buying more in quantity.