Advice on Purchasing a Condo

cherryblossom · 发表于 2008-10-8 14:37

Hi all,

I am thinking of buying a brand new condo so I don't have to deal with all the work required for a house. Any thoughts? Like, area, things to watch out for,etc.. I am a first time buyer so any input would be greatly appreciated!

依勒特 · 发表于 2008-10-8 15:09

还是稍微等等：
1，保守党有个提案：$5,000 tax credit for first time home buyer.
2，房价在降，利率也要降；
3，明后年大批condo建成上市；
4，宏观经济走向不好。

Zhujiaolian · 发表于 2008-10-8 15:12

原帖由 依勒特 于 2008-10-8 16:09 发表 8 E! x8 G" w. H5 j8 i
还是稍微等等：
' h/ Q# t g4 ?: w6 j& _/ a- P1，保守党有个提案：$5,000 tax credit for first time home buyer.
# r5 J% d4 U- j. e2，房价在降，利率也要降；
5 M- `* y: p, E. h/ g3 M3，明后年大批condo建成上市；, b4 A/ n5 @+ x
4，宏观经济走向不好。

不过 TAX CREDIT 现在就有，数字并不比保守党提的低。

FuzzyBear · 发表于 2008-10-8 17:17

If you have strong needs and money, go for it. If anybody knows when the best time is to invest, he/she will not be here answering your questions.

laosan · 发表于 2008-10-8 19:27

预算?地段?面积大小?功能?结构(木结构还是CONCRETE)......
CONDO FEE?
地下停车还是地面(露天)...
一楼还是顶楼?

legendcx · 发表于 2008-10-8 19:48

原帖由 Zhujiaolian 于 2008-10-8 16:12 发表 , C5 E/ X, n6 D, D) U7 h
% K4 L* {9 M% m1 f j1 w
不过 TAX CREDIT 现在就有，数字并不比保守党提的低。

what is tax credit? thanks.

cherryblossom · 发表于 2008-10-10 10:13

Thanks for all your thoughts! Well, my max is budgeted at 250k. Brand new, 2bdr 2 full bath. I haven't put many thoughts on other things like condo fees etc. I probably should :)

And no, I don't have much disposal cash at this moment which is why I am looking for other people's opinions. Of course I will likely end up hiring a realtor who I hope will be helpful.

If there will be more condos being built next year(if economy is going down, why would they keep building? Don't they start building until they presell at least 60%?), I think I will wait.

Also, I have a question, I haven't heard of any current tax credit given to first-time homebuyers. Are you talking about Home Buyers Plan(HBP)? The reason I ask is that I am an accountant and I feel pretty dumb not knowing about it if it is out there. :-)

Anyway, Thanks very much for all your help. I guess I will have to spend much more time finding my first home :-)

monicapharm · 发表于 2008-10-10 22:04

I am in a similar position, a potential first time home buyer.
As far as I know, you need to get the bank or whatever financial institution approved first before you can go house hunting, which I guess you already did. If you did, you should know how they calculate the maxim amount money you can borrow, 3~4 times ( the monthly morgate+condo fee+insurance+land tax) has to be <=your annual income. At least the bank I went showed me the above formula. The above also bases on that you dont have extra debt or car loan.
Realtors are helpful only in term of providing information regarding the neighbourhood, safety, school and tax kinda stuff. I personally don't think they know better than average joe in term of the market trend. To them, it is always time to buy. check out www.mls.ca, where you can search for properties.

As for new condos, yes, there will be more coming every year, since land development and house building is not as simple as you thought. In general, it takes about 3~4 years for a land developing project (Geological survey, city approval, underground development, build houses). I guess nobody can really tell this market rout back in 2005, when everybody thought the market will never fall.

Yes, there is GST rebate, but only toward new home or dramatically renovated properties. The link is here: http://www.cra-arc.gc.ca/E/pub/gp/rc4028/rc4028-e.html

Good luck.

guangdao · 发表于 2008-10-10 22:23

it only applies for brand new house.

w_20080808 · 发表于 2008-10-11 08:20

有谁知道一般新的condo 的condo fee 是多少?

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