{"id":1015,"date":"2016-02-22T15:15:14","date_gmt":"2016-02-22T23:15:14","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1015"},"modified":"2016-02-21T14:25:57","modified_gmt":"2016-02-21T22:25:57","slug":"thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/","title":{"rendered":"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You"},"content":{"rendered":"<p style=\"text-align: justify;\">Buying a condominium is a major investment; it\u2019s easy to be daunted by the prospect.<br \/>\nNo one wants to invest hard-earned money on a whim. But neither does anyone want to sit on the fence so long that they miss a great opportunity. So how do you know when you\u2019re ready to buy a condo? Here\u2019s a guide to answering some of the tough questions you might be asking yourself :<\/p>\n<p style=\"text-align: justify;\"><strong>I\u2019m worried about losing money on my investment. Does that mean I\u2019m not ready to buy?<\/strong><br \/>\nNot necessarily. Buying a home, after all, is one of life\u2019s biggest investments, so having some worries is normal. Wise buyers are those who have done their due diligence. But they should also be ready to trust their emotions. After all, you want feel love for the place you call home.<br \/>\n\u201cDon\u2019t be afraid to follow your gut,\u201d said Pasquale Carbone, one of Montreal\u2019s best-known condo developers. His company, Carbocan, has built some 4,000 units over the past 30 years. \u201cThe research you do will help you feel good about your investment. Your condo should both answer your needs and meet your budget.\u201d<br \/>\nCarbone recommends that buyers take into consideration the quality of the construction and, with it, the reputation of the builder \u2014 not to mention the value of the neighbourhood. \u201cThis way, not only do you get a great condo that you enjoy and which suits your needs, but you\u2019ll also be confident that your dollars are well invested,\u201d he said. \u201cReal estate has proven to be among the safest ways a person can invest their money.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>This condo is great. But is now really the right time to buy?<\/strong><br \/>\nEveryone\u2019s personal financial situation is different. But in terms of market conditions, it\u2019s hard to imagine a better time for buyers. This is because interest rates are the lowest they\u2019ve been in a generation, which means more affordable mortgages.<br \/>\n\u201cIt\u2019s an exciting time to be in the market,\u201d Carbone said. \u201cThe purchasers have a lot of buying power. They should definitely take advantage of it.\u201d<br \/>\nBut waiting for the bandwagon to pick up steam could also mean a higher price for getting on board. Now is the time to act, even if some of your friends or colleagues are not quite ready to do the same. Timing is everything.<\/p>\n<p style=\"text-align: justify;\"><strong>OK, this condo is great and I want to take advantage of the current market. But I\u2019m not sure about the neighbourhood. Should I wait until it\u2019s more developed?<\/strong><br \/>\nWhile there is nothing wrong with waiting, there is a distinct advantage that comes with buying earlier in the cycle of an area\u2019s regeneration.<br \/>\n\u201cAn area in development means there\u2019s more room to grow,\u201d Carbone said. \u201cThis gives your investment more leverage than buying in an already fully developed area.\u201d<br \/>\nAnother thing to keep in mind is the level of commitment of property developers.<br \/>\nIf they are willing to invest millions of dollars into an area that is not yet fully developed, it\u2019s a sign they see long-term potential.<br \/>\nIt may also be worth walking up and down the street where your prospective condo is located. Is it the only new development around, or have others followed suit?<\/p>\n<p style=\"text-align: justify;\"><strong>I want a two-bedroom place because eventually I\u2019ll have a family. But I can only afford a one-bedroom right now. Should I wait a few more years before buying?<\/strong><br \/>\nOne important market trend to consider is that over time the average square footage of new condo units tends to decrease, while their entry-level prices tend to increase. This simply reflects the increasing price of land and materials, and is generally true in cities across the country. The two-bedroom condo of the future may be the size of a current one-bedroom.<br \/>\nAnother consideration is the benefit of having a financial asset. A well-designed one-bedroom condo is likely to increase in value over time, and will actually facilitate upgrading to a larger condo.<br \/>\nIf you wait, you\u2019ll face the natural increase in real estate prices as well as the lack of equity you could have been building up in the meantime.<br \/>\nOne alternative to a two-bedroom condo is seeking a one-bedroom with a den.<br \/>\n\u201cThe prices of these kinds of units are often closer to the prices of the one-bedroom than the two-bedroom,\u201d said Carbone. \u201cIf they are well designed, the den can be transformed into an office, a guest room, or an adjacent baby room.\u201d<\/p>\n<p><a href=\"http:\/\/montrealgazette.com\/life\/homes\/condos\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you?__lsa=8730-6794\" target=\"_blank\">Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You<\/a> by Jonathan Montpetit | Postmedia<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buying a condominium is a major investment; it\u2019s easy to be daunted by the prospect. No one wants to invest hard-earned money on a whim. But neither does anyone want &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1015","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Buying a condominium is a major investment; it\u2019s easy to be daunted by the prospect. No one wants to invest hard-earned money on a whim. But neither does anyone want &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You\",\"datePublished\":\"2016-02-22T23:15:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/\"},\"wordCount\":791,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/\",\"name\":\"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2016-02-22T23:15:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/02\\\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/","twitter_card":"summary_large_image","twitter_title":"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Buying a condominium is a major investment; it\u2019s easy to be daunted by the prospect. No one wants to invest hard-earned money on a whim. But neither does anyone want &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You","datePublished":"2016-02-22T23:15:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/"},"wordCount":791,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/","url":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/","name":"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2016-02-22T23:15:14+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2016\/02\/thinking-of-buying-a-condo-here-are-some-signs-the-timing-might-be-right-for-you\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Thinking of Buying a Condo? Here Are Some Signs the Timing Might be Right for You"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/1015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=1015"}],"version-history":[{"count":2,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/1015\/revisions"}],"predecessor-version":[{"id":1017,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/1015\/revisions\/1017"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=1015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=1015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=1015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}