Carey and Sharon  Rosenzweig

Carey and Sharon Rosenzweig

Sales Representatives

RE/MAX Realtron Realty Inc., Brokerage*

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Finding the right Neighbourhood for 1st Time Buyers in Vaughan and GTA


Finding the right Neighbourhood for 1st Time Buyers in Vaughan and the GTA

Condo's and housing types

What are the pros and cons of condos?

A condo is a lifestyle.  It is a carefree way of ownership.  You do not have to be bothered with maintenance, and daily upkeep.  You can go away to work or a cottage or holiday and not have to worry about cutting grass, shoving snow, cleaning windows or even picking up newspapers or flyers left at your door.  Everything is done by the condo corporation.  In fact, besides paying your mortgage and taxes, your maintenance may be the only other thing that you have to pay. Your maintenance can cover everything including heat, hydro, water, repairs and cable TV.  The con is that you do not own your own land and you live very close to your neighbours.  You do not make up your own rules; you live by the condo corporation’s rules.  Also the amount you have to pay in maintenance fee could allow you to increase your mortgage.

Buying a townhouse, semi or detached? 

Once you are purchasing a townhouse, there are two differences.  You can purchase a freehold townhouse which is very similar to a house except you share walls.  The advantage to this is that your heating is usually cheaper than for a detached house because it is not escaping to the outdoors.  It is being shared.  These homes are usually smaller and cheaper to purchase than detached homes.  The con is that you share walls and roofs with your neighbours so it is good if you get alone, not so good if you don’t.  You are responsible for maintaining your own townhouse’s upkeep and maintenance. 

With a condo townhouse you are also responsible for paying a maintenance fee (which varies from townhouse to townhouse).  Some include exterior maintenance and upkeep, water, insurance etc.  This gives you the freedom of not have to do for yourself, but also someone else is in control of these things.  The con is that the maintenance cost could also increase the amount you are paying towards your mortgage (however, not always).

A semi-detaches home or detached home are very similar except for the fact that a semi-detached home could share a wall, which could make it a little less expensive.  They are also usually smaller in size.  You usually do not find large luxury homes semi-detached.  Again the con for a semi is that the walls and roof can be shared.  This is a problem when you need to do repair and your attached neighbour doesn’t want to.  If you want to go away for a period of time, you may need to get someone to watch your property.  However it is wonderful to own your own home and have the freedom to do what you want to with it.

Please feel free to contact us and let us help you figure out what property type is your best fit.  Carey or Sharon Rosenzweig (416) 818-2600

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