8 Questions You Should Ask The Salesperson When Visiting A Condo Project
Buying A Condo: Tips To Make The Right Choice
1- What is included in the cost of the condo?
To compare the costs of different projects, you need to know if the cost includes taxes, tax deductions and parking fees, if applicable.
2- What’s an extra?
Very often, the models units include materials, fixtures and furnishings, such as the type of ceramic tiles or the type of wood flooring used, that are options involving higher costs. Make sure you know what’s included in the cost and what is not.
3- What about common areas?
If, for example, the gym is the area you’ll be using the most, make sure it’s big enough and well equipped.
4-What are the monthly condo fees?
You should plan for this expense in your budget and be aware of which fees are covered (such as the maintenance of common areas, insurance, etc.). Since the initial reserve fund corresponds to the minimum set by the Civil Code of Quebec, newly elected board of directors often decide to increase the amounts allocated to this vital fund. You should anticipate these adjustments to the condo fees, which will be modified in order to ensure that the condo maintains an adequate reserve fund.
5- When can I expect my condo to be delivered?
If the project was recently launched, the projected date of delivery will be about two years later.
6-How can I find out how many units have been sold?
The actual construction of a condo project generally begins when more than 60% of the units have been sold. This will tell you how well the project is selling; make sure you ask for the number of units sold and not for the number of reserved units.
7-How does the after-sales service work?
The first step is to check if the builder is covered by a warranty plan offered by the APCHQ, the Maîtres Bâtisseurs, or the Association de la construction du Québec.
8-How is this project promoting sustainable development?
In Quebec, very few residential buildings have obtained LEED certification (Leadership in Environmental Energy and Design). In general, every builder takes a different approach when it comes to sustainable design, be it by installing energy efficient windows, geothermal systems, or urban rooftop gardens.