Buying your first condo can be a simple process when you have the right real estate representative. When you are thinking about buying a condo you will want to think about where you want to live? If you are in a city, which part of the city appeals to you? How will you get to your workplace? After that you will want to think about the type of home you want to live in and the space you want? Remember that there are high rises, low rises and town homes.

You have to get the best rooms and spaces that will suit your needs and that of your family. Look into the number of bedrooms, amenities and the direction the condo is facing. Do you want the sun beating into your rooms or would you rather have a shaded location? The next thing to consider is the cost. Condos can be very pricey. You have to consider how much you can comfortably afford and the type of home you want. Then decide on a down payment and the mortgage. You have to add these numbers to any other loan expenses and your total monthly expenses to see if you can swing it. The sum of these numbers has to be an amount that you can cover and that is within your means.

There is no doubt that you will have to do some research when it comes to the builders and make sure they are legit. Simply check out different web sites and then you can go and visit the locations and meet the representatives. Find out the builders reputation from people who actually live there. Word of mouth is everything. Find out their experience and knowledge of the buildings. Two good resources in Toronto are The Greater Toronto Home Builders Association and the Tarion web site which has found a builder. If you are confident with your knowledge and want to move forward you have to fill out the paper work. You should work with a condo lawyer who can help you through the whole process. The first thing you have to do is sign the Agreement of Purchase and Sale.

Of course make sure you go through it and make sure it is legally binding. It should include the purchase price, terms and conditions of the transaction, description of financing, closing date, possession date, pre-inspection and other items and details. The final step in buying your first condo is the disclosure statements and the condo documentation. The disclosure statement and documentation pulls together all the important information on the condo that you’re buying. You have to read over this document very carefully. Buying a condo can be exciting, but it can also be overwhelming. Make sure you have help and ask yourself those all important questions before you make any decisions.