Are you considering buying a condo in Vancouver? Don't make a hasty decision! As a realtor with years of experience, I've learned that there's a crucial factor many buyers overlook. Today, I'll share an insider tip that could save you from potential headaches and secure your investment.
Consider Condos Between 11 and 16 Years
Old When it comes to condos, consider ones that are between 11 and 16 years old. Why? Because these condos have likely undergone a 10-year warranty review for structural defects. This review ensures that any major issues have recently been addressed and resolved, providing you with peace of mind.
Deferred Major Work for Future Savings
Another advantage of condos in this age range is that major work is typically deferred until the 25 to 30 year mark. By opting for these condos, you won't have to worry about expensive renovations or repairs in the immediate future, allowing you to plan your finances better.
Stable Strata Fees for Predictable Expenses
Furthermore, the strata fees of condos in this age range tend to be more stable compared to newer condos. Many new developments significantly increase their strata fees within the first few years, potentially affecting your budget. With older condos, you can expect more predictable and manageable monthly expenses.
Conduct Thorough Research or Seek Professional Assistance
However, it's important to note that every property is different, and exceptions exist. To ensure you don't miss any crucial details, it's essential to conduct thorough research or enlist the help of a professional realtor. They'll guide you through the process, crunch the numbers, and help you make an informed decision.
Let's Find Your Dream Condo!
If you're currently in the market for a condo in Vancouver, I'm here to assist you. Feel free to leave a message below for more helpful tips tailored to your specific needs. Don't let uncertainty overpower your investment journey - let's work together to find your dream condo!