Condominium Buyer's Check List

Source: CMHC's Condominium Buyer's Guide

Other Condo Info

Question Importance
(1-10)
Yes No Score
Location        
Is the condominium in the neighbourhood I want?        
Is there a school nearby?        
Is it accessible by public transit?        
Is the commute time to work acceptable?        
Is it close to amenities (e.g. shops, theatres, restaurants, etc.)?        
Amenities        
Does the condominium have recreational facilities?        
Does it have an exercise room?        
Does it have a pool?        
Does it have a party room?        
Does it have a convenience store?        
Does it have a children's area?        
Does it have parking available? Indoor or outdoor?
Guest parking?
       
Does it have suitable storage available?        
Condominium Rules and Regulations        
Are the condominium rules and restrictions clearly defined and understandable?        
Are the condominium rules and regulations reasonable (can I live under these rules)?        
Are there rules about the numbers of occupants permitted?        
Can I rent out my unit?        
Does the Board of Directors (or developer) seem helpful in explaining the rules?        
Can I operate my business from the condominium?        
Can I bring my pet?        
Does the management fit my lifestyle
(property manager vs. self-managed)?
       
Affordability        
Is the purchase price of the condominium within my budget?        
Can I afford the monthly condominium fees along with my mortgage payments, taxes, insurance and other expenses?        
Does the price seem reasonable for what I am getting?        
Are there upgrades available that I need or want and how much would they cost?        
Are finishes included in the purchase price?        
Is cable/satellite and/or Internet access included in the monthly condominium fees, and if not, how much would they cost?        
How is the condominium heated/cooled/ventilated?        
Is the building energy and water efficient?        

Are utilities included in the monthly condominium fees?
If not, how much can I expect to spend each month?

       
The Building        
Is the condominium (e.g. high-rise, low-rise,        
townhouse, freehold, loft) the type that I want?        
Will the construction be finished on time        
and if not, can I wait?        
Is the building attractive?        
Is the condominium in good physical condition?        
Does it seem well built (or well maintained)?        
Will the condominium be durable?        
Are the grounds attractive and well maintained?        
Is the unit attractive?        
Is it the right size?        
Does it have the features (e.g. fireplace, number of bedrooms, balcony) I want?        
Does it have enough storage space?        
Does it have enough light?        
Does it have fire protection systems        
(e.g. smoke detectors, sprinklers)?        
Does everyone in the family like it?        
The Condominium Corporation        
Is the condominium corporation        
in good financial condition?        
Is all documentation for the condominium accessible and in good order?        
Are there any legal claims or judgements against the condominium corporation?        
Community and Lifestyle        
Does the condominium community seem to match my lifestyle (e.g. older adults vs. families with small children)?        
Is the condominium strictly residential, or is it mixed-use?        
What is the proportion of owner-occupied to rented units?        
Is it accessible for people with special needs?        
Do the current occupants seem friendly and happy?        
Are there any noise implications?
Roadways, neighbours, garbage chutes and elevators?
       
Total points        

 
Wendy Smith, Sales Representative
DIRECT LINE 416.471.9373
wendy@wendysmithtoronto.com
Wendy Smith's Toronto: HOME
  Sutton Group — Associates Realty Inc.
INDEPENDENTLY OWNED & OPERATED BROKERAGE
358 Davenport Road Toronto, ON M5R 1K6
Tel: 416.966.0300
Sutton Group