10 Frequent Questions and Answers (FAQs)
1. Is it worth it to put down money on a condo in Brooklin?
Absolutely, there is a considerable demand for rentals as the population continues growing in Brooklin, and the prices are reasonable ensuring good returns on investment.
2. What is a reasonable amount for a condo in Brooklin?
The cost of a condo in Brooklin will depend on its location and size but in general their price is from $500,000 to $750,000.
3. Am I better off with a new development or a used condo?
Early bird options are better priced and are fully customizable, but they will take a considerable amount of time to build.
In contrast used condos can be moved into right away and rented out.
4. How do the costs of condos in brooklin differ from others, and how much of a deposit will I need to give to purchase a condo?
On most condos across Canada, you are expected to make a minimum deposit of 5 percent but for a condo that is under the 500k mark, this applies, while with most other condos at 500k or above, a bigger sum will be required.
5. What is the Condo association fee that is up for submission in Brooklin?
The normal association fees vary between $300 to $600 per month for the added amenities, utilities and for the maintenance of the building itself.
6. Is there a chance that I may be able to rent out my condo in Brooklin?
Yes, rental accessibility is on the rise in Brooklin making it a great area for investors to cover.
7. What do you think are the reasons people are ready to pay a condo fee instead of purchasing a house in Brooklin?
Relatively low maintenance those properties would require or expect
Compared to standalone homes they are cheaper to buy.
Living a modern lifestyle while still within a short distance to the City’s urban center.
8. What strategy can I use in order to track down the best condos that are for sale in Brooklin?
Get in contact with a realtor who has done business in Brooklin or conduct your own search on the MLS listings.
9. Are there any state provisions or schemes for interested condo buyers in the market?
For those with no experience in the market the following schemes may be applicable for them:
First-Time Home Buyer Incentive (FTHBI)
RRSP’ Home Buyers’ Plan (HBP)
Levy Exemption Conveyancing
10. How have you assessed the quality and the potential for the condo market in Brooklin?
Brooklin has good potential for condos because it has been witnessing constant rise in terms of development and population.