Buying a Condo or Townhome in Vancouver? Consider this…

Posted by Liliana Sorescu on Thursday, July 17th, 2014 at 3:46pm.

When you're contemplating the purchase of a condo or a townhouse here in Vancouver you'll naturally look at the location, the floor plan, the condition, etc.
 
There's one more thing you should consider.
 
When you buy such a property you are essentially buying into a business – the homeowner's association.
 
So look at ALL the financials. Make sure the association is solvent. Find out if the association has a habit of increasing membership fees indiscriminately. Learn something about the leadership and how the organization operates.
 
Check with current residents to see if there are complaints over deferred maintenance or rules that are enforced only for some. And speaking of rules – be sure to read them in their entirety. When you "buy in" you're agreeing to those rules, and some of them may not please you.
 
Buying a condo or a townhouse is not the same as buying a single family residence, because other people control some of the aspects of your building. So be careful, and take your time.
 
When you're ready to begin your search, get in touch. I'll be happy to show you the available units here in Vancouver, and to help you gather all the information you need to make an informed decision.
 

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