Condos with Low Maintenance Fees

Buying a condo essentially means buying into a low maintenance way of living. Condos can be an affordable and stress free way to live as each month the owner pays a maintenance fee to cover certain common costs of the building. While having a low maintenance fee is ideal there are other factors to consider such as what is included in the monthly maintenance fee and the financial health of the buildings condo corporation.

Maintenance fees are paid to the condo corporation each month to cover common expenses in the building such as pool maintenance, security guards, grounds maintenance, etc. Maintenance fees are usually based on the size of the condo unit (square feet) therefore the larger the unit, the more the owner is contributing towards paying the common building expenses. Each year maintenance fees usually increase, as features of the building begin to wear out and need to be replaced and service contracts increase. This is why older condo buildings usually have a higher maintenance fee than newer ones. In addition, the more amenities a condo building offers its residents, such as a swimming pool, also contributes to a higher maintenance fee.

Many times I have buyer clients asking me to find them a condo with low maintenance fees. It’s not so black and white. You have to ask yourself a few other questions like what expenses do the monthly maintenance fee include? Does it include Heat, Hydro, Water, central air and building insurance? Each condo is different so make sure to find out exactly what is included. One condo may offer a low maintenance fee but utilities are not included whereas another condo may have a higher fee but you don’t have to worry about added utility bills.

Another thing to consider is the financial health of the condo building. Check with the property management to see if the monthly maintenance fees have been increased lately or if there is an increase scheduled for the near future. Special assessments are also important to take into account. Large repairs such as replacing the roof, are big ticket items. Depending on the situation of the condo corporation, they may choose to bill each unit owner their portion of the cost of the repair. The owner maybe required to pay in one lump sum or may be able to pay for it monthly for a certain time period. This cost is in addition to the monthly maintenance fee.

So next time you are looking for a condo with low maintenance fees make sure you take these other factors into consideration.  Have your lawyer review the financial situation of the condo and only then you can decide if the maintenance fees are truly ideal.

Why Buy Pre-Construction Condos in Toronto?

When buying condos in Toronto there are certainly advantages identified in the act of investing in pre-construction condos. Pre-construction condos in Toronto are proving incredibly popular investment opportunities. These condos can be purchased for personal use or for turning a profit by flipping the condo after it is purchased and completed. One can also opt to rent out a pre-construction condo upon its completion and derive a long term income from one of many wise investments in condos in Toronto too.

The best advantage gained by investing one’s money in pre-constructed condos in Toronto is the fact that often times the initial going price for such condos is far lower than the price for condos that are completed. The investor gets money saving perks for investing in a pre-construction condo and can later sell or rent to property to turn a decent profit on the initial condo investment. The moment the condo is fully completed in terms of construction, the value of the condo increases dramatically – preconstruction condos in Toronto are a win/win situation for the building and unit owners alike.

Another great reason why you will want to buy from the pre-construction condos in Toronto is the fact that since the condo is still in the progress of being constructed, you will be given more say over the condo’s interior design. Often times these times of condos are completed by professional builders that are more than willing to work with the condo investor in terms of customizing the property to one’s specifications and desires. For example, when it comes time to complete the bathroom area or the kitchen area, you may be given say over the types of cabinetry and internal furnishings that are put into the condo you have invested in.

The most obvious advantage that you will derive from investing in condos in Toronto that are in the pre-construction phase is that you are getting a brand new property. Unlike used condos or condos owned by private sellers, the condo you will be buying will have you as the very first owner of the site. This means that you get to enjoy the novelty of the site when you move in or that you can offer any potential renters of the property a flawless and perfect condo for rental purposes.

To learn more about condos in Toronto, check out Condos for Sale Toronto. It is the most comprehensive forum for Toronto condos, where you can discuss anything related to buying, selling or renting condos in Toronto area, and learn the latest updates and trends in Toronto condo market. Be sure to visit this website before you buy or sell Toronto lofts and condos.

Current Market Conditions Favor Buyers of Manhattan Condos, For Now

Until the last few months, the Manhattan condo market had been largely immune to the plunge in real estate values that has plagued most real estate markets around the country. Luxury Upper East Side condominiums and Manhattan new condos elsewhere on the island held most of their value as the unique nature of Manhattan’s economy and real estate market insulated them from the housing bust. However, in the second quarter of 2009, that insulation melted away. Manhattan real estate professionals say that during the three months that ended on June 30, 2009, condo prices fell between 13 and 19 percent with median sales prices ranging from $795,000 to $849,000. This represents a significant shift from the first quarter of 2009 when condo values ranged from a modest two percent loss in value to respectable gains of up to six percent compared to the first quarter of 2008.

Manhattan Condo Buyer’s Market on, Right Now

The uncertainties of the current Manhattan condo market have temporarily driven many of the speculators away from investing in condos and condo development projects. Investors who bought condos at relatively low “preconstruction” prices to turn a tidy profit when the condos were ready for occupancy have largely abandoned these investments for the moment. Another favorable facet of current condo market conditions for buyers is the fact that wealthy people who bought Manhattan condos as tax shelters for their money can no longer write off losses. Under new tax guidelines, it is no longer possible for investors to write off more in expenses than what they receive for rent on their condos. Rents on Manhattan condos have plummeted in the last year and what looked like a steady stream of income for investors has become a liability.

Huge Inventory of Unsold Manhattan New Condos

The steadily increasing value of Manhattan new condos fueled a condo development frenzy over the last several years and developers were putting up new condo buildings as quickly as they could. Nevertheless, the nature of the business is that development lags behind demand, and when the economy began to flag in 2008, new condo buildings were too far along in the development process to stop construction. This has led to a glut of unsold condos that has also put downward pressure on Manhattan condo prices that could favor buyers for another year at least. The Real Estate Board of New York has said that 11,023 condo units now under construction will be ready for sale by the end of 2010.

Tough Financing Options for Manhattan Condominiums

Yet another factor driving down Manhattan condo prices is the difficulty condo buyers are having with obtaining mortgage financing. Jumbo mortgages that exceed $729,750 exceed the loan limits of conforming loans backed by Fannie Mae and Freddie Mac, and most Upper East Side condos are priced very near or over that limit. Skittish lenders are asking borrowers of jumbo loans to put steep down payments of up to thirty percent on modestly priced condos and up to fifty percent on high-end luxury Upper East Side condos. This has understandably driven condo buyers to Manhattan condos on the lower end of the price spectrum.

Condo Sales Picking Up

Naturally, when market conditions favor buyers wanting to buy a condo for their primary residence rather than an investment, more buyers enter the market. According to one Manhattan real estate professional, condo sales jumped by more than 28 percent in the second quarter of 2009 as buyers sensed the bottom of the market was near. She said that lower-priced one bedroom and studio condos dominated the market and led to the surge in sales.

“It’s value-based shopping. People are coming back into the market, but nobody is going to overpay.”

A Fleeting Opportunity

While the Manhattan condo market is somewhat immune to the up and down cycles of most real estate markets, the window of opportunity for buyers will not remain open for long. Unlike most major American cities, New York City’s population is growing. As more buyers take advantage of current market conditions, the availability of lower-priced Manhattan condos shrinks and prices inevitably rise. Since there is little Manhattan new condo development currently under construction due to tight credit and wary investors, the condo market is expected to tighten in the near future. When that happens, investors will once again have the upper hand, well-informed buyers will see the value of their investments appreciate and cautious buyers who waited too long will have missed a golden opportunity.

Condos for sale in San Francisco are hundred times cheaper than others

Condos for sale in San Francisco is quite different for condos in San Francisco. In San Francisco, condos in a big city area, in condominium and the condos are the cheap choices for living places in San Francisco. Many Real Estate state have a cheaper rate of condos for people. In every country there are various types of people living there; starting from low class to high class. The aristocratic people in San Francisco they choose their place in condos in famous zones in San Francisco, but some middle class people wants to buy condos in condos. To buy a condos is also depends his money because if they be enough position and ability. The Condos for sale in San Francisco are cheaper than any other country. Condos are cheaper than condos in San Francisco. These condos are less than in condos but there are more facility to live there. There is a beautiful location, great place, top class people live in there, clam and peaceful place in San Francisco. We know that if the land is expansive the place is also extraordinary; but this thing is not totally correct for San Francisco. There are two types of Real Estate agents; they also refer people to buy in San Francisco.  This agent offers many facilities to help people to buy an condos and provide proper guidance to people.

In San Francisco if you are going to buy Condos, you can depend on the agents of San Francisco. Climate is also a great factor in San Francisco. It has been noticed that many people wants to buy Condos. Condos for sale in San Francisco varies from one place to another, and if it is within the city or village site. In the village zone the price of Condos are low. If anyone wants to choose their home in village areas around San Francisco City, so of course they would be able to get Condos near to the city at lower price. But there is sometimes lack of facilities in these Condos. Village side people never want the type of facilities like in city. So, they buy Condos in the village side. City life is different for village life to a great extent. Now come to the beach area zone for condos in San Francisco. It is the famous amongst people because some man likes to get view of the sea very much. They want to collect information about Condos for sale in San Francisco. In the sea beach area, the Condos are so beautiful and similar to five star hotels. In San Francisco there is a system for renting condos for people. People living there also want to buy condos or to rent. There are available Condos in the city zone. Condos for sale in San Francisco is the famous business for the Real Estate agent.

The real Estate company offers their facility on their website. Many people visit their Condos for sale in San Francisco websites to see the picture. The pictures of the condos, which can be found on the websites sometime, give a deceiving idea to the people. Only picture of the Condos is not enough for people to get a totally vivid idea. They have to collect more information about San Francisco and the Condos in the area. In this process the website only provides a direction for people to encourage those buying condos in San Francisco. When a man wants to buy their home, it is a dream comes true for them. A beautiful home is what everyone intends to buy.

10 Reasons to Invest in a Condo Today and Get Your Foot on the Lucrative Property Ladder

There are many ways to make money and we are constantly being blasted by email, TV, magazine ads and every other form of communication used today by people telling us they have the secret to getting rich.

The world economy is changing, but a look back in history will show you one thing, the way to make money over time is through Real Estate, more millionaires have been made through property than anything else. There are of course the exceptions who have made a fortune on the stock market or other risky methods, but these people are really few and far between, how many do you personally know?

On the other hand most people know someone who has made money from Real Estate, it is definitely not the place to make a quick buck, but over time property is king of the moneymakers.

Many of us are scared of getting into the property market, but this is the fear that keeps people poor, you do not need to have a huge sum of money to get into Real Estate, you can start small with something like a Condo, and then gradually move up. Some people will tell you that you cannot make money with Condos, but many people, myself included, have made several thousand dollars on just a single Condo sale, just by living in the Condo for a few years and moving on.

The market has taken a big hit recently, but as always it will come back in time. I do not have a crystal ball and cannot tell you the future, but if history has taught us anything, now is your opportunity to get into the market by purchasing a Condo and sitting on it for a few years, when the market comes back you will make money as long as you buy wisely and do proper research.

So why should you invest in property right now?

1. The market goes in cycles, now is a down period, these are the times when the money is made

2. Buying wisely can give you equity as soon as you collect the keys, this will grow as the market comes back

3. Property investment is historically proven to be much less risky than gambling on the stock market, of course there is still a risk, but it is is much less

4. More millionaires come from property than any other form of business, getting into an area like Huntington Beach, California is a great way to start

5. A lot of people want to sell right now for one reason or another, there is a lot of inventory but not so many buyers, you can get a a good deal if you find the right place

6. You do not need to get in your car and drive all day looking at property, over 80% of buyers use the Internet these days, pick out the ones you are really interested in so you do not waste your time

7. The range of properties for sale is huge in California, markets that were unobtainable for many of us, like Huntington Beach in California are now affordable

8. Realtors are hungry, gone are the days of properties selling themselves, they need your business and are prepared to do more to get it, and sometimes even drop their commission on bigger sales

9. Financing is harder than it once was, but this is also a positive thing, it should help prevent people buying property they cannot afford, and make the chances of another crash less likely, keeping your equity safe

10. Historically low interest rates mean buying is better than renting, why give your money away each month when you can invest it in both you and your families future?