Whether you’re a first-time condo buyer or you’re moving from one condo to another, there are a handful of important questions you need to be asking. Asking the right questions are imperative to finding a condo that is going to best fit your needs and your lifestyle. Not only that but asking questions before buying is also going to set you up for a smoother move and transition. 

Here are 8 questions that you need to be asking to make sure you’re moving to the right condo for you! 

What are the condo fees?

If you’re new to the condo world, condo fees are an additional cost that are used to cover building maintenance and amenities. Condo fees vary from condo to condo and is not a one size fits all kind of deal. Getting clear on exactly how much you’ll be paying monthly for condo fees is going to set your future self-up for success. Ask about any recent condo fee increases and how often fees are typically increased for residents. Getting a gauge on recent fee increases will give you an idea of what to expect in the future. You will also get a clearer picture of how that is going to play into your budget and monthly expenses. 

What do the condo fees cover?

If you imagined yourself moving to a condo and enjoying the perks of not having to take out the garbage, shoveling the snow, or having an immaculately kept lawn space, make sure that these are all actually covered in your condo fees. Along with building care and maintenance find out what is covered under your monthly fees and what is not. Remember, not only condo fees are equal. 

What amenities are non-negotiable? 

One of the perks of condo living are all the amenities that come with the condo. Asking yourself what amenities are important to you is going to make the search a lot easier and can act as a filter when looking at different condos. Before buying a condo, figure out what amenities are a non-negotiable for you. Whether that’s a gym in the building, a pool, or 24/7 security, it’s important to know what it is you are looking for and what you may be willing to walk away from. Condo options may feel overwhelming, knowing what amenities are important to you and your lifestyle will make the process easier. 

Are there pet restrictions? 

Do you have a pet that you plan on bringing with you? Before making any move it’s important to ask about the condo’s rules around pets. Some condos only allow certain pets in the buildings, some condos have weight and size limits on pets, and others may have a strict no pet policy. Again, varying from condo to condo, it will be important to inquire about this beforehand and take this into consideration when looking at places. 

Is there parking? 

Will you need parking? And is there current availability for parking? Some condos come with a parking space included and others you may have to sign up for parking. Is it important to you to have covered parking, or are you okay with outdoor parking? These are all questions to ask before making the move. Or perhaps you don’t have a car currently but are planning on one in the future. If that’s the case be sure to inquire if getting a parking space in the future is an option and what that may look like. 

What are the condo rules?

Every condo comes with its own set of rules and policies. These rules and policies are in place to keep the building and residents safe and to ensure an overall pleasant experience for everyone who lives there. Condo rules set out are enforced by HOA (Homeowner’s Association) and the condo board and must be consistent with the Condominium Act. While there is the Condominium Act that must be adhered to, there is still autonomy among condos. Rules can vary from pets being allowed in the building, renting out your unit, your garden, to what repairs and renovations you can do. Be sure to ask what the condo rules are and see if they will fit with your needs and lifestyle.  

Can I rent my unit out? 

Some people buy a condo with the hopes to rent it out. If this, is you, or potentially you in the future ask what the policy is around this. This will likely be laid out in the condo rules, so it is important to familiarize yourself with those before moving. Some condos may have rules in place where you can only do short-term rentals. Or you must live in the unit for a certain amount of time before you are able to rent it out. 

What is the resale value? 

Whether you plan to make this a long-term or a short-term home, get curious about how the condo and surrounding condos have appreciated to date. Is the building being properly taken care of?  Are updates and renovations taking place when needed and in a timely manner? These are great questions to be asking regardless of if you plan on selling down the road or not! Knowing how your investment is going to appreciate and potential resale value is always good to be aware of.