OPEN CONCEPT TOWNHOUSE!!

C3403326  *  $429,900  * 1 Bedroom Up, 2 Total * 2 Bath * 1,086 SqFt

Welcome to Marda 17 one of South Calgary’s hottest new condo’s just finished this year! PRICE INCLUDES GST!  This modern open concept townhouse includes all the high end finishing’s demanded by today’s savvy buyer.  Granite is in kitchen and bathrooms, hardwood in kitchen and living area, ceramic tile in bathrooms and high end carpeting in bedrooms.  As an end unit it is one of the best units in the complex with its own large and private patio, a street entrance, garage entrance and access from the patio.  Large windows allow plenty of natural light combined with modern paint makes this home feel very contemporary.  The kitchen is enhanced with top of the line stainless steel appliances, glass mosaic tile and pendulum lighting and looks out to the living room below.  Both bedrooms are very generous in size and are accompanied by 2 bathrooms.  The heating of this unit is top of the line in-floor radiant heat and is extremely efficient.

Book your appointment today to view this great property!

 

TWO INDOOR PARKING STALLS!!

C3403541  *  $430,000  *  2 Bedrooms  *  2 Bathrooms  *  1,316 Square Feet

Welcome to this spacious condo with over 1300 square feet of luxury living.  This quiet condo in the sought after Wedgewoods offers a thoughtful floor plan with master with 4 piece ensuite, large second bedroom, dining room with space for a large table and cabinetry, grand living room and is rounded off with in suite storage and laundry.  Upgrades and bonuses include granite counters, raised eating bar, vessel sinks, ceramic tile in kitchen and entry.  BONUS 2 TITLED INDOOR PARKING STALLS.  This unit is one of few with 2 indoor parking stalls for couples or families that have more than one car.  The Wedgewoods also offers many amenities to its esteemed residents with fitness facility, party room as well as walking trails from the property. 

This property is a must see! Book your appointment today!   

Buying a home can be a stressful process but here is a bit of knowledge I’d like to share with you about condo’s so as to keep you better informed when you are making that important decision of buying property.

 

by Shannon Essington

Source: www.cren.ca

 

Last week we took an in depth look at some common mortgage terms that will come up time and again. This week we will continue on that path but head in the direction of condominiums, a popular choice for both first time buyers and those who appreciate a maintenance free lifestyle.

When considering purchasing a condominium there is some extra things to be aware of before signing on as an owner. The challenge is that many aspects of condo ownership are not easy to understand, and come complete with a language of their own. This terminology, added with all of the other industry jargon, can often cause confusion and frustration for buyers, in fact even the name “condo” is often misunderstood.

The word “condominium” refers to a form of legal ownership, not a style of construction. While most buyers tend to think of a condominium as a high rise apartment complex, this type of ownership can be extended to low rise buildings, townhouse complexes and believe it or not, some single family homes as well.

The ownership of a condo consists of two parts: firstly, the individual unit, which is owned exclusively by the purchaser, and secondly, a shared ownership in all common areas of the building or complex, such as the lobby, hallways, elevators, fitness facilities, parking and landscaping outdoors.

To cover the ongoing costs involved in managing and maintaining the common areas, a monthly condo fee is charged to all owners. Most condo fees are determined by the square footage of the unit, although some are just a flat rate. As this monthly fee is set by the condo board it is neither optional nor negotiable. Additionally, like most expenses it will most likely increase over time.

Condo fees are used to finance many aspects of ownership within the condominium. Some of these expenses include day-to-day care of the common areas, property management fees, some utilities and an ongoing contribution to the reserve fund.

The reserve fund is set up by the condominium management to cover the cost of major repairs and necessary replacements over time. Costs such as roofing or window replacement would fall under the intended use of the reserve fund. In the event that the reserve fund falls short of covering a necessary expense, each owner could be given a special assessment charge. These special assessments may be payable as a one-time lump fee and depending on the financial need of the condominium, these assessments can be extremely costly. Beware of developments that have significantly lower monthly condo fees than other similar properties, as this can be a sign of poor management and under-funding, which might cost you much more later.

Another challenge when looking to purchase a condo is that mortgage lenders have varying policies surrounding what they will and will not finance. It is not uncommon for a lender to prefer one type of building style over another.

If you are considering purchasing a condo in the near future, it is even more important to have a clear understanding of what you are truly pre-qualified to purchase, beyond just the maximum approval amount. Square footage and property specifics are just two of the points that could come up after you’ve found that perfect condo, which you may wish you had known up front.

To ensure that your condo purchase is a great buying decision, both in the short and long term, it is best to work with a team of professionals who are experienced with the finer details of condos. A great realtor and mortgage broker are certainly key members of that team. Call today to get the information you need to get this process started, especially if you want to take advantage of the deals that inevitably come available during this holiday season.