Rick White Sutton Group West Coast Realty

Cell (604) 828-3847 | EMAIL rwhite@sutton.com |

CHOOSING A RESIDENTIAL PROPERTY INVESTMENT

WHERE DO YOU WANT TO LIVE OR INVEST ?

 
  • Are you seeking an urban, suburban or country setting ?
  • Will you need to commute ? 
  • Is the communting distance workable for you ?
  • Do you need access to public transit? 
  • How much will commuting cost?
  • Are there schools nearby? 
  • How will your children get to school 


WHAT TYPE OF HOME DO YOU PREFER?


  • Single‐family detached homes stand alone on their own lot.
  • Single‐family semi‐detached homes are joined on one side to another home.
  • Duplexes contain two single‐family homes, one above or beside the other.
  • Row houses (townhouses) are several single‐family units, located next to one another joined by common walls.
  • Stacked townhouses, link or carriage homes, condominiums and co‐op apartments.

WHAT ARE THE TYPES OF OWNERSHIP?
 
FREEHOLD
  • You own the land and house and are responsible for everything inside and outside of the home.
 
CONDOMINIUM OWNERSHIP
  • You own your unit and share ownership of common spaces.
  • The condominium association is responsible for upkeep of the building and common interior elements
  • Strata fees take care of such as halls, elevators, parking garages and the grounds.
  • You pay a monthly strata fee to the condominium association to cover maintenance costs.
  • The fees vary but can somtimes include utilities, TV services and taxes.
  • You may also have to buy or rent your parking space.
  • Condos often have strict rules regarding rentals, pets, noise, use of common areas and renovations to units.
  • Be aware of your condo’s rules before putting in an offer.

CO-OPERATIVES
  • Similar to condos but instead of owning your unit, you own shares in the entire building with the other residents.
  • Co‐op residents pay for maintenance and repairs through monthly fees
  • Owners are subject to the rules and regulations of the co‐op board.
  • If you decide to sell or rent your shares, the co‐op board has the right to reject your prospective buyer or tenant.
  • Read the co‐op’s rules before making an offer.
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