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How to Avoid These 3 Costly Condo Buyer Mistakes

It’s important to do your homework when you’re buying real estate. Learn how to avoid these 3 costly condo buyer mistakes by researching and working with a good agent.

1. Offering the Wrong Amount

Depending on the situation, buyers can offer too much on a condo, or too little and lose the sale. Some buyers pay too much because:

  • Buyer offers too much because they went off emotion. Buyers tend to pay too much when they fall in love with a condo and gets attached too quickly.
  • Buyer fails to notice important differences after using the wrong comps when deriving a price. Differences in layouts, views, and other details can make a big difference in price.
  • Buyer offers too much thinking there’s a competition

Some buyers will offer too little and regret it later. They might offer too little because:

  • Buyer uses the wrong comp when deriving a price, but the condo might really be worth the difference.
  • Buyer thinks they should always offer a certain amount below the list price.
  • Buyer makes an insultingly low offer and the seller might refuse to work with them again.

Make sure you do your homework and check with your agent before making an offer on the condo you want.

2. Not Learning What is Important to the Seller

You would think that the price is always the most important term when it comes to a sale, but that’s not always the case. Sometimes the seller might need a quick settlement. They might be moving or closing on a new home. Ask the seller, or have your agent ask. Having a good agent will be helpful because they’ll know the right questions to ask to help you with your sale.

3. Failing to Get Pre-Approved for Financing

Getting pre-approved will save you a lot of hassle in the future. If you aren’t pre-approved, it could hurt you when you go to make an offer. A lot of sellers won’t respond to offers that don’t come with a pre-approval letter. This will put you at a disadvantage if you are competing against other buyers.

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5 Fantastic Features to Look for in Your First Condo

When you’re looking for your first condo, there are a lot of different amenity choices. Depending on your needs and your budget, there are quite a few to choose from. We’ve rounded up a list of 5 fantastic features to look for in your first condo.

1. In-Suite Laundry

Doing laundry outside of your own home can be a serious hassle. It’s much better to have an in-suite washer and dryer than having to worry about having enough change or if there will be enough washers open. We understand how much of a hassle it can be, so MG on the Halifax has in-suite washers and dryers available for your convenience.

2. Walk-In Closets

When you’re done with the laundry, having a nice walk-in closet to easily put away your clothes is a great amenity. Walk-in closets are great for storing your belongings and allow you to easily see your outfits.

3. Secure Parking

No one wants to worry about the security of their vehicle. It’s important to find a condo that has secure parking so you feel safe walking to and from your vehicle. It’s even better if condos offer covered or underground parking to protect you and your vehicle from the elements.

4. Terrace or Balcony

Having an outdoor space such as a terrace or a balcony gives you the perfect place to entertain guests or relax. It’s nice to have somewhere to enjoy the warm weather, grill your dinner, or just relax in the fresh air. It’s not quite a necessity, but it definitely makes a big difference.

 

5. Luxury Amenities

Luxury amenities don’t come standard with most condos. MG on the Halifax offers top of the line amenities like an 18 seat THX certified movie theater, 2 gorgeous swimming pools, a marina, banquet space, his and hers steam saunas, and meticulously manicured grounds. You won’t find luxury amenities just anywhere, so be sure to check what special amenities each condos have.

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Trending Condo Decorating Ideas

Looking to spruce up your condo with this years latest trending decorating ideas? Here’s what you should be looking for while on the prowl for the hottest finds.

Photo by Ingrid Rasmussen PhotographySource:
Houzz.com

Jewel Tones

Decorating with jewel tones such as sapphire blue, emerald green, and deep, rich purples with give you a luxurious pop of color. Bright, rich hues are are a great choice for accent pieces or an entire jewel-tone color scheme, depending on your taste.

Marble

If you’d like to decorate your condo with more luxurious material, marble is the way to go. If you’re not in the market for installing marble countertops, try marble wallpaper or fabric as a more affordable choice. This still lends you the same chic statement without a more permanent feature.

 

Metallic Details

Metallic details such as brass hardware on kitchen cabinets or golden joinery can add one of this years hottest trends to your condo. Molten finishes, shiny interiors, and metallic fabrics have been running rampant in this season’s creative looks. Look to add accents of brass, gold, and copper to your decor.

Artisan Touches

Instead of DIY, this year’s obsession is strictly artisan. High quality craftsmanship and materials, such as handblown glass, is on the rise. Look for quality, one-of-a-kind pieces to add to your condo.

Quilts

Going along with the artisan touches, quilts offer a quality, handmade, and homey element to any room. Find a quilt that matches your current room theme to add a cozy touch to your bedroom.

Velvet Furniture

Velvet is a luxurious and soothing material, perfect for a cozy couch. Pairing velvet with smooth metals and ceramics adds visual interest and coziness to a room. If you’re not ready for a new couch, add a few velvet pillows or a velvet throw instead, adding the same benefits without the price or commitment.

 

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The Best Devices for Smart Condos

Technology has improved leaps and bounds over just the last decade, and now you can use technology to make your home work for you. With gadgets like automated light systems, thermostats that can cool off your condo before you get home, and intuitive control systems, your devices are now connected to the internet. This means that they can communicate with you, send you information, and take your commands. If you’re looking for tech that will turn your condo into a “smart home,” we’ve rounded up a few of the most useful and creative gadgets out on the market.


Amazon Echo

179.99 on Amazon

“Amazon Echo is a hands-free speaker you control with your voice. Echo connects to the Alexa Voice Service to play music, make calls, send and receive messages, provide information, news, sports scores, weather, and more—instantly. All you have to do is ask.

Echo has seven microphones and beam forming technology so it can hear you from across the room—even while music is playing. Echo is also an expertly tuned speaker that can fill any room with 360° immersive sound. When you want to use Echo, just say the wake word “Alexa” and Echo responds instantly. If you have more than one Echo or Echo Dot, Alexa responds intelligently from the Echo you’re closest to with ESP (Echo Spatial Perception).”


Click & Grow Indoor Smart Fresh Herb Garden Kit

59.95 on Amazon

“The Click & Grow Smart Garden takes the unpredictability out of indoor gardening, so you get more fresh herbs, fruits or flowers with zero effort. Using a Smart Garden is simple. Just insert the plant capsules, fill the water tank, and plug it in. Then, relax! Our specially developed Smart Soil and built-in sensors make sure plants get the optimal configuration of water, oxygen, and nutrients so your plants thrive with zero effort. This innovative technology will help your plants grow faster and more nutritious. No pesticides, plant hormones, or any other harmful substances.”


Nest Protect Smoke & Carbon Monoxide Alarm

$114.30 on Amazon

“Nest Protect has been redesigned from the inside out. It has an industrial-grade smoke sensor, can be hushed from your phone, tests itself automatically, and lasts up to 10 years. And just like the original Nest Protect, it also tells you what’s wrong and can even alert your phone.”


Petnet SmartFeeder

$119.99 on Amazon

“We believe the best nutrition for your pet is personalized. Petnet will help you make intelligent decisions when it comes to your pet’s food — bringing you joy while keeping your pets healthy and happy. The SmartFeeder will help you manage feeding times, portion sizes, proper ingredients, and have your pet’s food delivered right to your doorstep.”


Neato Botvac 

$624.30 on Amazon

“Fully-featured, Botvac Connected is the smartest, most powerful, versatile solution for automatically clean floors, everyday. With dual cleaning modes and a wide cleaning path, Botvac Connected efficiently cleans room-to-room, recharges automatically and resumes cleaning until the entire floor is clean. Works on all floor types. Use the Neato app to clean your floors anytime, from anywhere. Great for homes with pets and allergies.

Also works with Amazon Alexa and Google Home Assistant so you can voice control your robot.”