Buying a Condo: What you need to know and consider

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Buying a Condo in Winnipeg: What you need to consider

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So you’re thinking about switching from renting an apartment to buying a condo – that’s great! There are so many benefits to be had from making the switch and buying a condo. It’s a wonderful investment and you’ll love being in a place that you can really call your own. But before you make the leap, here is what you need to know about buying a condo:

1) Buying a condo means being independent.

Something I love about living in a condo is that I don’t have to worry about taking care of a lawn or of a leaky roof. But what you do need to be concerned about is what happens inside your condo. Whereas you can call your landlord and ask them to fix a faucet or a broken radiator in an apartment, you can’t rely on someone else to do all the work for you in a condo. The agency that manages your condo building might have some names of reliable companies for you, but ultimately it’s up to you to call the plumber, arrange for them to come to your home, and foot the bill.

2) You can personalize your condo any way you choose.

Hands down one of the best parts about buying a condo, compared to renting, is that you can do what you like with your condo! You can paint it, hammer nails into walls, and rip out the carpets if you choose. You aren’t allowed to do a lot of those things if you’re renting, but when you purchase a condo you get the entire inside of the suite. By attending condo meetings and being on the condo board, you can also get some say about what goes on around the building – but the inside of your suite is always 100% yours to do with as you like.

3) You’re going to be in one place for a while.

When you’re renting, you might move from one area of the city to the next at your leisure – you can’t do the same when you’re a homeowner. Choose a location wisely! Decide what part of the city you would still be interested in living five or ten years from now. Buying a condo means that you’ll be staying in one place for a longer period of time.

Buying a condo was one of the best decisions I ever made. I spoke with many friends and family who had experience in both renting and buying to prepare myself for any surprises that I might run into once I was living in my condo. While I learned much on my own after I had made my purchase (because you can never be prepared for everything that’s to come!), I found that their advice definitely helped me adjust to my new lifestyle.

If you’re interested in leaving renting behind and in buying a condo, be sure to check out What you need to know about buying a condo, Part Two: Financial Considerations.

Sagan Morrow owns an open-concept condo in Winnipeg’s Exchange District and loves downtown living. By night she writes the blog Living Healthy in the Real World and is the Executive Director for The Food Label Movement; by day, she coordinates the Dig In local food campaign for Food Matters Manitoba. She enjoys taking in the theatre and art culture of downtown Winnipeg during her spare time.

Related articles

• Downtown Condo Life: A new owners’ perspective and advice (bokauffmann.com)
• Saving space in your Winnipeg downtown condo (bokauffmann.com)
• Winnipeg Condo Market Report January 2011 (bokauffmann.com)

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