barriecondoteam's Blog: Barrie Condos

When it comes time to consider a condo in Barrie or condo townhome, there’s one thing many people overlook or may not be aware of if they’ve been homeowners for a while, and that’s how condo fees are factored into your mortgage calculation.

Lenders add half of your condo fees into the debt calculation when you apply for a mortgage, in addition to other monthly carrying expenses such as heat, hydro, property taxes, and interest to determine what is referred to as your Total Debt Service.

Lisa Cuff, AMP (Accredited Mortgage Professional) from Dominion Lending Centres in Barrie, states that the most important finance factor when looking at purchasing a condo vs. a freehold home is your monthly condo payment. For example, for every $50 of monthly condo…

Whether you have owned a Barrie condo or townhome for a while or are a relatively new owner, here is a short list of items for you to consider when evaluating the security of your unit and building.

Condo Entry Access  If your condo building or unit has an alarm or access card reader, be sure to follow your building’s or security provider’s rules about sharing the entry code or card, and ensure no one follows you into the building that you don’t know. With townhomes, if you have a security system, change the code regularly, especially if you’ve had to share your code with someone. With Barrie townhome owners, it is important to note that most insurance companies offer a 5% discount on your homeowners’ insurance plan if you have a monitored alarm… Read Full Post

When it comes to purchasing Barrie condo insurance, there’s a lot more that needs to be considered than just ensuring your contents will be covered.

While the condominium corporation has insurance (which you partially pay for out of your monthly fee), that policy usually only covers items that are part of the structure and common areas of the building.  You should select a comprehensive insurance plan that protects your unit, belongings, and replacement cost to the condominium building and structures, as well as common areas.

If you’ve invested extra in upgrading your unit’s flooring, carpeting, cupboards, appliances and other comforts, you’ll want to be sure you’re covered for replacement value should anything happen to your condo unit. And, of…

If you’ve been part of a sales transaction for a detached home in Barrie, you’re probably aware of the inspection that’s completed by a certified professional inspector prior to the purchaser finalizing and accepting the deal. However, you may not be aware that there are inspectors that specialize in condos and townhomes in Barrie, and how they differ from traditional house inspectors.

When buying a condo in Barrie, it is important to make sure you select an inspector that is knowledgeable in condominiums, since there are different areas and elements of condos that may require inspection where a house doesn’t. For example, common areas like recreation centres, swimming pools, patios, stairwells, parking garages, and other areas that are shared by all…

Whether you’re a first‐time buyer or a seasoned homeowner looking for a change in lifestyle, there are a few things you need to research before you consider making an offer on that great condo in Barrie.

Determine what building is right for you:  As the City of Barrie has grown, so has the number of condominium developments giving us a wide range of buildings to choose from.  Having your real estate sales representative take time to show you the suites and amenities in all the buildings will help you decide what building is right for you.

Obtain the Disclosure Statement for new condos or a Status Certificate for existing developments: It’s important to know that when you purchase a condominium you are not just buying a new home you are also…

Barrie condominium ownership allows you to enjoy all the features of a fine home, with the added benefits of amenities, enhanced security, increased affordability and ease of maintenance. Amenities include high-tech security, recreation and fitness facilities, plus the convenience of not having to shovel snow or cut grass.

My personal top 10 Barrie Condo features – in no particular order - include:

Parking
It is a wonderful experience to park in a secure temperature controlled parking garage – with close access to the elevator. The garage is professionally cleaned and most condos provide an area to wash your car.

Storage
Having a storage unit in the lower level of a Condominium helps reduce clutter and the amount of things you need to have in…