So, you have decided to buy a condo after considering your lifestyle, budget, and future plans. That’s great - you can now begin your house-hunting process.

However, do you know how to find the perfect property out of the many condos for sale in Brampton? If not, keep reading. Here, we’ll unveil key questions you need to ask before investing your money in a condo. Asking the right questions upfront can help you avoid surprises and find a condo that perfectly aligns with your lifestyle and financial goals.

QUESTION #1 - Can You Break Down the Monthly HOA Fees and Explain What They Cover?

HOA (Homeowners Association) is responsible for maintaining the common areas and amenities of the condo building and the complex. HOA fees are monthly charges paid by condo owners to cover a range of expenses made by the HOA such as -

• Maintenance of common areas

• Utility expenses of common areas

• Property insurance for the common areas

• Reserves - fees set aside for future repairs and replacements

• Cost of maintaining amenities

The HOA fees of the condo for sale in Brampton are a recurring monthly cost that you’ll need to factor into your budget.

Knowing what the HOA fees cover will help you avoid surprises down the road. For instance - if you expect trash removal to be included in the HOA fees and it’s not, that could be an extra cost you weren’t prepared for.

QUESTION #2 - Is There Any Upcoming Special Assessment We Should Be Aware Of?

Special assessments are one-time charges levied by the HOA to cover unexpected or extraordinary expenses. These special assessment fees aren’t included in the regular HOA fees. The special assessment fee may be charged to condo owners because of a major repair, lawsuit, or unforeseen deficiencies.

The special assessment fee can range from a few hundred dollars to tens of thousands of dollars which can be a big financial burden. So, before you set your heart on a condo for sale in Brampton, make sure you’re aware of any upcoming special assessments.

QUESTION #3 - Can You Provide Me with the Condo Association's Bylaws and CC&Rs to Review?

Covenants, Conditions, and Restrictions (CC&Rs) is a legal document that outlines the restrictions on how you can use and modify your condo units and the common areas of the property. And in the Bylaws document, you’ll find things like the election process for the HOA board, frequency of meetings, voting rights and procedures, and the HOA fee assessment process.

Reviewing the condo association’s CC&Rs and bylaws is a must while exploring condos for sale in Brampton. These documents contain the rules and regulations that will govern your life in the condo.

QUESTION #4 - Can You Tell Me About Any Rental Restrictions Here?

A condo building may have a range of rental restrictions such as -

• Minimum owner-occupancy requirements - This is a rule that limits the percentage of units in the condo building that can be rented out. There must be a certain percentage of units that must be occupied by the owners themselves.

• Short-term rental restrictions - Some HOAs limit or even prohibit short-term rentals such as those on Airbnb.

• Minimum lease terms - The HOA may dictate the minimum amount of time a tenant must lease the unit, often 6 or 12 months.

• Approval process for tenants - The HOA may have a process for approving tenants which could involve background checks or application fees.

Understanding these rental restrictions is important if you’re planning to rent the condo you’re buying down the line.

QUESTION #5 - How Do I Contact the Property Manager and Board Members?

The seller of the condo for sale in Brampton naturally would want to present their condo in the best light. This is why you must talk to the property manager and board members before sealing the deal on the condo.

Talking to these people can give a better idea about the condo building and the community. The seller should be able to provide you with the contact information for the property manager and board members.

QUESTION #6 - How Recently Was the Unit Renovated and Inspected?

If the units of the condo for sale in Brampton are old and unrenovated, you may have to deal with plumbing, or electrical wiring issue right after moving there. So, ask the seller about when the unit was last renovated. Also, make sure to enquire about if there have been any inspections in the unit recently.

QUESTION #7 - How Have Similar Units Fared in Terms of Resale Value?

If you plan to own the condo for a while and then sell it, this is an important question that you must ask. You must know how similar units in the condo have fared in terms of resale value to gauge your potential return on investment. Your agent or the seller’s agent can provide you with valuable insights about the units that were recently sold in the building.

QUESTION #8 - Are There Any Restrictions on Pets, Noise, Renovations, or Decorations?

When you own a single-family home, you generally have more control over your property. You can decorate how you like, renovate without restrictions, and have as many furry friends or any other pets as you like.

But by buying a condo for sale in Brampton, remember that you’ll be signing up for a lot of control and restrictions. This is because a condo is part of a shared community. And the HOA sets rules and restrictions to maintain peace and order for all residents in the building.

By knowing these HOA restrictions, you can have a better idea if the condo building is the perfect fit for you or if you may have trouble living in it. Also, this helps you avoid unintentional breaches and potential conflicts with the HOA or your new neighbours.

Make a Smart Home-Buying Decision by Clarifying All Doubts

Buying a condo is not the same as buying a regular house in Brampton. The ownership and responsibility, HOA involvement, amenities, and maintenance responsibilities are completely different in a condo.

This is why make sure to ask the above-mentioned questions while shortlisting condos for sale in Brampton to avoid issues down the road. Apart from the given questions, feel free to address any doubts or queries you may have about the condo property. The more you investigate upfront, the smoother your home-buying process and your future life in the condo will be. So, clarify any doubts, and get ready to find a condo that perfectly fits your lifestyle.