Four Tips to Buy a Condominium in Today’s Real Estate Market

MyAgentMyHome.ca | Posted on Mon, Apr 20th 2015 00:00
Tags: Become a HomeownerBuy a CondominiumSaskatoon Real Estate

Real estate market conditions are ever changing. How to be in tune and buy a condominium with confidence

First, understand what drives the market and how to take advantage of it. Currently there are plenty of condos for sale in Saskatoon and surrounding areas that may be yours, if you follow a few core tips.

Here are four tips to help you navigate today’s real estate market, search through condos for sale in Saskatoon and surrounding areas, and buy a condominium with confidence.

Four Tips to Buy a Condominium in Today’s Real Estate Market

Shop Around – Don’t Stick to Just One Condo Building

There are plenty of condos for sale in Saskatoon and surrounding areas. If you want to buy a condominium, keep in mind that you have plenty of options.

It is important not to focus on just one particular condo building. Perhaps you are looking for student housing, are a single parent, or downsizing empty nesters. Discuss your circumstances with your agent and start with a wide search in the areas you most wish to live in. Your agent will quickly find out which buildings have the better management, best visitor parking and so on. While it’s easy to get caught up in the excitement of buying a new home, your agent’s knowledge of the current market conditions will help temper the excitement and direct you to the best options.

Understand When You Have the Edge

A buyers’ real estate market is different from a sellers’ real estate market. In a sellers’ market, sellers have the edge because there is a shortage of properties and an excess of buyers who want to buy. This means prices will be higher and offers will be tilted in favour of the seller.

The opposite is true for a buyers’ market. If you are shopping, know which market you’re in. This will be the edge you need to secure a great home for a great price.

When condo hunting, consult with a real estate professional. Let them help you take advantage of these tips and all the knowledge they have to offer.

Don’t Be Afraid to Make Hard Offers When Market Conditions Allow

A Hard offer may cause you to buy a condominium for well below the asking price or with favorable concessions. There are times when you can be tough in your negotiations. A seller always has the option of walking away from your offer, but if the inventory is high this is less likely to happen. A top agent will help you understand, options and odds.

Consider Having the Condo Inspected

Your agent will help you understand which maintenance areas are the responsibility of the condo unit owner and what is looked after by the condo management’s collective condo fees. The condition of the items the condo fees cover can be explored by examining the “ the estoppel package” a set of document your agent will secure for you. This package provides information on operation budget, reports on past and pending repairs, and more. Let a top agent experienced in selling a condo guide you on how to access the condo value and it’s condition plus help you determine what inspections to focus on before making the commitment to buy.

List your Property

• Get Maximum Results!

*
*
*
Lock Icon
 

Saskatoon (Areas 1-5)

Jun 2018

Jun 2019

Percent Change

  • New Listings
  • 906.00
  • 821.00
  • -9.38%
  • Days on Market Until Sale
  • 51.00
  • 51.00
  • 0%
  • Average Sales Price
  • $332,980
  • $351,027
  • +5.42%

Surrounding Saskatoon (Areas 6-9)

  • New Listings
  • 2644.00
  • 2409.00
  • -8.89%
  • Days on Market Until Sale
  • 61.00
  • 83.00
  • +36.07%
  • Average Sales Price
  • $414,044
  • $250,614
  • -39.47%

MyAgentMyHome.ca Blog

Saskatoon's Real Estate Market - Early 2015. The Underlying Factors

Saskatoon's Real Estate Market - Early 2015. The Underlying Factors

MyAgentMyHome.ca | Posted on Sat, Feb 21st 2015 09:24

Early in the year, as we anticipated the coming spring real estate market, there was much talk about crude oil prices, the weakened Canadian dollar, lower interest rates from the Bank of Canada, and the impact these factors would have on home prices.

Client Testimonials

We found our agent to be efficient, knowledgeable, personable, honest and trustworthy and we would certainly recommend her to friends, family and anyone else. Mercina was the best agent we have ever had.

John & Jullian M
View more client testimonials...
John & Jullian M

Remember to ask how you can earn AIR MILES® reward miles when buying or selling a home.

The Best Mortgage Rates & Trusted Advice
in Canada

Click to learn more about Property Types

Click to learn more about Living Space

Click to learn more about Pets Allowed

Average sales price for all closed sales, not accounting for seller concessions, in a given month.

A count of the properties that have been newly listed on the market in a given month.

Average number of days between when a property is listed and when an offer is accepted in a given month.

Arrange for a no obligation telephone consultation and get additional information not available to the general public.

Click to apply for the lowest rates* in Canada

Have special requirements? We are here to help. Arrange for a no obligation telephone consultation. Call (306) 227-7131

Different styles for different needs. Well help you sort it out. Arrange for a no obligation telephone consultation. Call (306) 227-7131

Have something special in mind? We'll help you sort it out. Arrange for a no obligation telephone consultation. Call (306) 227-7131

Some items may be negotiable others will be a given....we'll help you sort it all out. Arrange for a no obligation telephone consultation. Call (306) 227-7131

Have something special in mind? Arrange for a no obligation telephone consultation. Call (306) 227-7131

Where are the GOOD suites? Arrange for a no obligation telephone consultation. Call (306) 227-7131

We respect your privacy. We will by no means misuse your e-mail address.

What is pre-qualification?