Hello,
This is my first post on REIN, and I`m glad to read some of the great posts!! I`m a 2nd year university student, who is looking to buy a condo or a duplex for under 300k in edmonton. (not for investing, my own place). But given the fact that edmonton condos dropped by 3% since Jan of this year, I`m not sure whether it is good time to buy yet. Been looking for condos along the LRT line. and in the southwest area of Edmonton. But heard a lot of things such as the increase in listing rates, and mortgage term change in April, etc etc.. Hard to decide what`s true and false.
I`ve looking at a unit in Aspen Gardens, 122st, just off of whitemud drive.
Good: It`s top floor(4th), south facing unit, high 12 ft slanted ceilings, 1200sqft, 2 bedroom, 1.5 bathroom, condo fee: 420(include everything), tax:1500/annual, its a well managed condo with large reserve funds.
Bad: need a lot of work, need new applicances (lot has the original applicances), need paint, light fixtures, flooring. Estimates around 10k (I`m doing this myself)
the asking price is 230k, plus 10k in reno, so 240k total, it is well within my price range, but I`m wondering if this is a good buy or not? I`m a first time buyer, so I have no experience, and I`ve done a lot research and looking around, so far this is the best deal I could find, otherwise I`ll have to wait and see.
Please, any advices are highly appreciated!!
Regards,
This is my first post on REIN, and I`m glad to read some of the great posts!! I`m a 2nd year university student, who is looking to buy a condo or a duplex for under 300k in edmonton. (not for investing, my own place). But given the fact that edmonton condos dropped by 3% since Jan of this year, I`m not sure whether it is good time to buy yet. Been looking for condos along the LRT line. and in the southwest area of Edmonton. But heard a lot of things such as the increase in listing rates, and mortgage term change in April, etc etc.. Hard to decide what`s true and false.
I`ve looking at a unit in Aspen Gardens, 122st, just off of whitemud drive.
Good: It`s top floor(4th), south facing unit, high 12 ft slanted ceilings, 1200sqft, 2 bedroom, 1.5 bathroom, condo fee: 420(include everything), tax:1500/annual, its a well managed condo with large reserve funds.
Bad: need a lot of work, need new applicances (lot has the original applicances), need paint, light fixtures, flooring. Estimates around 10k (I`m doing this myself)
the asking price is 230k, plus 10k in reno, so 240k total, it is well within my price range, but I`m wondering if this is a good buy or not? I`m a first time buyer, so I have no experience, and I`ve done a lot research and looking around, so far this is the best deal I could find, otherwise I`ll have to wait and see.
Please, any advices are highly appreciated!!
Regards,