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First time home buying advice

Discussion in 'Housing' started by Rossei, Nov 4, 2016.

  1. Then consider about buying a home in the northern part of the province (like Sudbury, Kenora and Thunder Bay). I didn't see much growth in that region. Housing price is more affordable if you compare to Toronto.
     
  2. guys any thoughts around condo for a couple...me and my wife...1 bedroom plus den
     
  3. It will be kind of small especially if you plan to have kids.
     
  4. make sure the "monthly condo fees" are affordable, and find out their % increase rate over the past couple of years...for some buildings the monthly condo fees are quite high ~$1000! Mind you, that may not include the utilities and ofcourse the monthly mortgage amount would be on top of that.
     
  5. Also, if the condo is new, the condo fees will still be artificially low and should be expected to increase.
     
  6. Not to mention property taxes, and any special assessments that the condo board may decide to impose.
     
  7. He can know this ahead if he became a council member of his condo corporation.
     
  8. When I bought my house way back in 2013, my home inspector told me that I would require a new roof in 5-7 years. Finally, i did mine this summer and cost me $7500, ouch!
     
  9. That isn’t that bad actually for a roof. Home repairs are very expensive in Canada.
     
  10. what is life of a roof? I bought home last year and this home was built in 2012.
     
  11. Max 10 years
     
  12. Really depends on the materials used and how well it was installed. New construction usually uses the minimum standards allowed. 10-15 years is typical lifespan of a roof.
     

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