September 5th, 2010  
   
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Paul Graham
Broker of Record

Buyers Realty Inc.,
#113-3050 Orleans Rd., Mississauga, ON
L5L 5P7

Direct: 905-607-4400

E-mail:
paul@buyerscall.com
Questions to ask when buying a Town Home ?

Townhome ownership continues to grow in popularity because it offers a pleasant 'middle ground' between the convenience and easy lifestyle of a condo apartment and the amenities of a detached home.

Many people don't want to have a large garden but they'd rather not carry their groceries on elevators or pay for all the facilities in a condo apartment. Most Townhomes offer the simple pleasure of walking out to your own patio or keeping your car in a private garage wihout having to do a lot of exterior maintenance  

There are a wide range of sizes with choices ranging from very upscale to very affordable  

The Ist question you should ask is Is it a Condo Townhome or a Freehold Townhome ? Both have their merits but the answer will determine some additional questions to ask.

All Townhomes before viewing 

List Price ? Current Property Taxes ? Any Fees ? Fees Include ?

What is the location ? What sort of area is it ? Highways ? Transit? Schools ? Shopping & Services ?

Is the style a Conventional Townhome  or a "Stacked" Townhome ? ( usually a single floor, with other units above and /or below though sometimes it will be 2 of 4 Storeys or 2 of 6) Europeans would call this a 'flat' or a 'walk up apartment'

Number of Storeys ?

Basement ? Finished ? Separate Entry? Walk-out ? Apartment ?

Is it an End-unit ? ( often prefered for a sense of privacy or quiet, however a centre unit may have lower energy costs )

Garage ? Double or (usually) Single ? Direct Entry from Garage or Underground ? Driveway Parking ? Other ?

Type of Heating ? Air Conditioner ? Fireplace ? Type ?

Construction Material ? General Structural Condition in the Complex ?

Patio or Private Yard ? Fenced ?

Number of Bedrooms above Ground ? Below Ground ?

Number & Type of Bathrooms ?

Other Rooms ?  Principal Room Sizes and General Layout ?

What is included ? ( Appliances ? Light Fixtures ? Window Coverings ? Other ?)

All Townhomes during and after  viewing 

Opinion on Appearance / Condition of the Exterior : Roof, Windows, Siding, Garage, Doors, Foundation, Steps,Sidewalks,Fences,Gutters, Downspouts, Chimneys, Vents, Flashing, A/C Unit etc

Opinion on Appearance / Condition of others in the Block and the Complex as a whole as well as any Common Areas and Amenities. ( Particular attention to immediate neighbors . For example you can't have a perfect roof if the neighbor's is in disrepair )

Visitor Parking ? Mail System ?

Age and Size ? ( Easier to determine on-site as most of the Listings don't show them)

Exposure ? ( Many Listings have it wrong )

What material separates the home from the next unit or units ? How much sound appears to transfer ?

General condition and upkeep ?

Furnace Type ? Size and Type of Electrical Service ? Plumbing ? Insulation ? Stairs ?

Interior Features, Flooring and Finishes ? Quality ? Condition ?

Kitchen ? Bathrooms ? Laundry ? Appliances ?

Closets and Storage ?

How does the asking price compare to recent sales of other Townhomes in this complex ?

How did the size, features and condition compare to this one ?

How does the value compare to other Townhomes currently available ?

Freehold Townhomes during and after viewing

Is the complex subject to any type of 'Sub-division Rules and Regulations' ?

Do any provisions exist to pressure other owners to upkeep their property ?

Is there a private road or any common land that residents need to maintain ? If so how is it paid for and who does it ?

Condo Townhomes during and after viewing

Are copies of the Rules and Regulations available for viewing ?

Is a copy of the most Recent Budget and Reserve Fund Study available for viewing ?

Have the owners received any Notices of Special Assessments , Lawsuits or Judgments or Special Meetings of the owners ?

If there is sufficient interest to proceed with an Offer, it should be conditional on the Buyer reviewing and finding satisfactory all aspects of the Condo Documents and Status Certificate  .

(Please seee articles Checklist of Condo Documents and Special Assessments and Condo Values in the News and Advice section.

However, if some of the key information is already available and it is negative, then we do not need to proceed with the Offer in order to find out . )

Is there a Property Management Company ? Contact Information ?



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