While buying your first condo is definitely a major milestone, it’s also a significant purchase that comes with a number of obstacles.
From figuring out what you can afford to secure a mortgage — not to mention finding a condo that matches your criteria — you need to ensure that your potential new pad is in a well-managed building, and has been kept in good physical, financial, and legal condition.
So, to ensure that condo buyers can make informed purchasing decisions the Ontario government has launched a new Residential Condominium Buyers’ Guide.
As of January 1, 2021, developers across the province are required to provide purchasers of new or pre-construction residential condos with a copy of the guide and the current disclosure statement.
The new guide will include up-to-date information on a variety of aspects of condo ownership, such as:
The condo purchasing processMoving into a pre-construction residential condo unitCondo living and governanceBuying a condo is a significant decision, and it is important that purchasers are appropriately informed so they can be confident in their new home.
Reference: https://cutt.ly/tjfYDIz
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