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Sales Agents Barrie Condo Team - Royal LePage First Contact Realty Barrie, ON  |
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Condos In Barrie: Condo Fees & Mortgages
11/22/2009 at 3:29 PM - Regional Markets - Ontario, CA  0 CommentsWhen it comes time to consider a condo in Barrie for sale or condo townhome, there’s one thing many people overlook or may not be aware of if they’ve been homeowners for a while, and that’s how condo fees are factored into your mortgage calculation. Lenders add half of your condo fees into the debt calculation when you apply for a mortgage, in addition to other monthly carrying expenses such as heat, hydro, property taxes, and interest to determine what is referred to as your Total Debt Service. 
Lisa Cuff, AMP (Accredited Mortgage Professional) from Dominion Lending Centres in Barrie, states that the most important finance factor when looking at purchasing a condo vs. a freehold home is your monthly condo payment. For example, for every $50 of monthly condo fees, then that would be equivalent to approx. $10,000 in a mortgage. So a $300 monthly condo fee works out to be a $60,000 mortgage, so if your condo purchase is $60,000 less than what your freehold home purchase would have been, then your monthly expenses for principal, interest and condo fees will be approximately the same in either scenario. While this may play a factor in your condo suite or Barrie condo townhome choices, knowing what your fixed monthly maintenance expenses are makes it much easier for you to budget, taking away any surprises out of the equation. Remember that your monthly condo fees cover a variety of different items like the building’s operating costs, service and maintenance of common areas, amenities, parking garage, landscaping, snow removal, plus a reserved portion for longer-term capital expenses. In an article I wrote earlier in the year, I covered how condo fees are determined. To view more articles on Barrie condos and townhomes, please visit our Facebook page by searching for Barrie Condo Team.
Safe & Sound: Barrie Condo & Townhouse Security
11/6/2009 at 9:48 PM - Other - Ontario, CA 0 CommentsWhether you have owned a Barrie condo or townhouse for a while or are a relatively new owner, here is a short list of items for you to consider when evaluating the security of your unit and building.
Condo Entry Access: If your condo building or unit has an alarm or access card reader, be sure to follow your building’s or security provider’s rules about sharing the entry code or card, and ensure no one follows you into the building that you don’t know. With townhomes, if you have a security system, change the code regularly, especially if you’ve had to share your code with someone. With Barrie townhome owners, it is important to note that most insurance companies offer a 5% discount on your homeowners’ insurance plan if you have a monitored alarm system.
Lighting Make sure all common areas in your building are well-lit, especially parking lots, hallways, and other areas that are frequently used after-dark. If you find that new lighting is needed or bulbs replaced, let your building/property manager know as quickly as possible.
Barrie Townhouses: Landscaping and shrubs Notify your building management of any safety concerns you may have about the landscaping, trees, or shrubs. Any overgrown foliage should be trimmed back and the property should be landscaped to allow for good visibility in the common areas. If you have a ground-floor unit, ensure any additional entryways such as patio or garden doors are unobscured.
Frank van Amelsvoort, from G.I.T. Security Systems Inc. in Barrie recommends these tips before you go away on vacation: Before going away, test your system thoroughly and replace batteries if you’re going for longer than 30 days. Systems generally only operate for 12 to 24 hours without utility power so make sure your utilities and communications service providers will continue to provide service to your residence in your absence. Regular periodic testing is recommended by experts and manufacturers alike to ensure proper system operation even if you’re using the system regularly. Make certain that you leave your monitoring centre with a forwarding number in the event a serious problem occurs which you need notification of in an emergency. Consider periodic upgrading of your security system. Advice is always free from reputable Security Companies and some new technologies may even save you money. Also, some older residences do not yet have Carbon Monoxide detectors, which can be easily added to a security system. For more helpful tips on Barrie condo and townhouse information, visit our facebook page by searching for Barrie Condo Team. Stephanie Adams is a Sales Representative at Royal LePage First Contact Realty focusing on Barrie Condo and townhouse sales. Email: Steph@barriecondoteam.com Phone: 705.716.0299 Web: www.barriecondoteam.com
Barrie Condo Insurance: Protect your investment
10/18/2009 at 6:25 PM - Regional Markets - Ontario, CA 0 CommentsWhen it comes to purchasing Barrie condo insurance, there’s a lot more that needs to be considered than just ensuring your contents will be covered.
While the condominium corporation has insurance (which you partially pay for out of your monthly fee), that policy usually only covers items that are part of the structure and common areas of the building. You should select a comprehensive insurance plan that protects your unit, belongings, and replacement cost to the condominium building and structures, as well as common areas.
If you’ve invested extra in upgrading your unit’s flooring, carpeting, cupboards, appliances and other comforts, you’ll want to be sure you’re covered for replacement value should anything happen to your condo unit. And, of course, replacement of your contents such as furniture, electronics, and other personal belongings should be included in your policy. Perhaps most importantly, you need to ensure you’re protected against personal liability in case of injuries to anyone who visits your condo unit, or for accidental damage you may cause to your neighbour’s property or common areas by fire or flood. Glenn Dusome of Dusome Insurance Brokers in Barrie points out that many Barrie condo unit insurance policies lack coverage for what is called a special loss assessment. You should look for this coverage and make sure that it has an adequate limit to protect the unit owner. More information on special loss assessment can be found online @ the Barrie Condo Team’s facebook page. In terms of Barrie townhomes, a condo townhome’s insurance may have less expensive premiums since there’s less property to insure than a freehold townhome. Generally, a freehold townhome’s insurance is similar to that of a detached home, but with coverage that will protect against damage to shared elements such as walls, pipes, and so on. While a freehold townhome doesn’t have a condo corporation running it, you’ll want to ensure the coverage your insurance company is quoting will be sufficient to cover the replacement cost of your unit’s contents and the building your unit’s in, any additional structures such as garages or garden sheds, and provide protection against liability from accidental damage to neighbouring units. Always check with your insurance company or broker before committing to anything and do your due diligence. Ultimately, your primary concern should be ensuring adequate insurance coverage for your property, belongings and liability, not the lowest-priced premiums.
Barrie Condo Inspectors – The often-overlooked ally
10/5/2009 at 8:06 PM - Professionals - Ontario, CA 0 CommentsIf you’ve been part of a sales transaction for a detached home in Barrie, you’re probably aware of the inspection that’s completed by a certified professional inspector prior to the purchaser finalizing and accepting the deal. However, you may not be aware that there are inspectors that specialize in condos and townhomes in Barrie, and how they differ from traditional house inspectors. 
When buying a condo in Barrie, it is important to make sure you select an inspector that is knowledgeable in condominiums, since there are different areas and elements of condos that may require inspection where a house doesn’t. For example, common areas like recreation centres, swimming pools, patios, stairwells, parking garages, and other areas that are shared by all occupants of the building have special considerations that need to be addressed that someone specializing in detached homes might not be aware of. Additionally, the very nature of the building and the systems needed to operate multi-unit climate control, water delivery and so on, are not something that a home inspector would necessarily be familiar with. Barrie condo inspectors with a commercial or industrial background or advanced knowledge with these types of building systems can come in real handy where the building systems meets with the condo suite.
Barrie Townhomes: Condo vs. Freehold
9/21/2009 at 8:06 PM - Regional Markets - Ontario, CA 0 CommentsTo those looking into the Barrie townhome marketfor the first time, navigating your way around can be a bit confusing. Forinstance, what’s the difference between a condominium townhome and a freeholdtownhome? And why are some called ‘townhomes’, while others are referred to as‘townhouses’? 
In order to clarify things a bit for thosein unfamiliar territory, here are the basic differences. First, the easy one: ‘townhome’ or‘townhouse’? These terms are used interchangeably, and mean the same thing, butthe term I prefer to use with my clients is ‘townhome’, because it’s not just abuilding I’m referring to – it’s your potential new home. This building willbecome your personal space, where you go to escape, raise your family, and liveyour life. Now for the main difference betweencondominium and freehold townhomes: freehold townhomes are those for which youpay no monthly fees, and are responsible for all maintenance like shovelling snow, mowing the lawn,etc. Condominium townhomes include a monthly maintenance fee, but the trade-offis that you don’t need to worry about cleaning the pool, or maintaining yourdriveway in the winter or lawn in the summer – it’s all looked after for you. If you’re a professional or retiree whojust doesn’t have the time or interest to invest in the upkeep of a house, acondominium townhome might be a good option for you. Affordableluxury Whichever you choose, both freehold andcondominium townhomes usually offer upgrades and amenities that are often cost-prohibitivewhen looking at a detached home. Items like ceramic or hardwood floors,upgraded cupboards, granite countertops, and whirlpool tubs are just a fewoptions that generally have a large price tag attached to them in detachedhomes, but are often more affordable in a townhome. It boils down to value foryour money, and the lifestyle you want. Anappreciable investment Like a detached home, townhomes are aninvestment that will (or should, depending on the market conditions) appreciatein value. And, again like a detached house, the more amenities and upgrades thetownhome has, the higher the resale value. When it comes right down to it, choosing afreehold or condominium townhome in Barrie is simply a matter of personal choice based onlifestyle and affordability. Stephanie Adams is a Sales Representative at Royal LePage Barrie (First Contact Realty) specializing in Barrie Condos and townhomes. Stephanie is part of the Barrie Condo Team.
Thinking of the Barrie Condo Lifestyle? 3 Things to do Before You Buy
8/27/2009 at 9:08 PM - Regional Markets - Ontario, CA 0 CommentsWhether you’re a first-timebuyer or a seasoned homeowner looking for a change in lifestyle, there are a few things you need to research before you consider making an offer on that great condo in Barrie. 
Determine what building isright for you: As the City of Barrie has grown, so has thenumber of condominium developments giving us a wide range of buildings tochoose from. Having your real estate sales representative take time toshow you the suites and amenities in all the buildings will help you decidewhat building is right for you. Obtain the Disclosure Statement for new condos or a Status Certificate for existing developments: It’simportant to know that when you purchase a condominium you are not just buying a new home you are also purchasing part of a corporation. Have your lawyer review the Disclosure Statement or Status Certificate. These documents will outline all the condo features, the rules and regulations and will also help determine thehealth of the Corporation. Check out the building’s Rules and Regulations: Each condo is its own little community, andeach has their own set of rules and regulations that they expect residents to follow. You need to be clear on these regulations to be sure that the buildingis going to be right for you. For example, if you have children or pets, you’llwant to ensure that the building you’re looking at isn’t an adults-only, pet free environment. As soon as you’ve decided on the condo you wish to purchase, it’s important to start communicating with your lawyer so they have enough time to review all your paperwork. Following these 3 simple steps and working with your Barrie condo Real Estate Sales Representative and lawyer will lead to a smooth and successful transaction. Stephanie Adams is a Sales Representative at Royal LePage First Contact Realty specializing in Barrie Condos and townhomes.
Top 10 Barrie Condo Lifestyle Features
8/18/2009 at 12:36 PM - Regional Markets - Ontario, CA 0 CommentsBarrie condominium ownership allows you to enjoy all the features of a fine home, with the added benefits of amenities, enhanced security, increased affordability and ease of maintenance. Amenities include high-tech security, recreation and fitness facilities, plus the convenience of not having to shovel snow or cut grass.
My personal top 10 Barrie Condo features – in no particular order - include: Parking
It is a wonderful experience to park in a secure temperature controlled parking garage – with close access to the elevator. The garage is professionally cleaned and most condos provide an area to wash your car. Storage
Having a storage unit in the lower level of a Condominium helps reduce clutter and the amount of things you need to have in your condo. Seasonal items can be easily boxed and stored for next year. Outdoor equipment can also be safely stored. Fitness Centre
One of the many overlooked features of condo living is the fitness centre. Most condos have up-to-date weight training and aerobic equipment. You can easily work out around your work-schedule at your convenience. Security
Peace of mind is important for everyone. Security guards not only watch who comes and goes but also manage security cameras at the garage door and underground parking. Location
Most, if not all condos in the Barrie area are conveniently located to serve direct access to highway 400, local City bus and Go Transit trains and buses. This can allow for a more car free lifestyle. Shopping & Dinning
Barrie's downtown condos have the most direct access to all the downtown restaurants. With all condos having close access to supermarkets and local pubs and neighbourhood cafes.
Entertainment & Culture
With so many cultural and festival events in the Barrie area – and in all seasons – it makes it easy to enjoy all forms of entertainment. Waterfront festivals, theatre, film and art exhibitions happen all year around.
Recreation
Recreation & Entertainment Centres, elaborate lobbies and beautiful landscaping create an advantageous lifestyle. This enables you to host parties, business meetings and even movie nights with friends! Living Environment
Condo buildings are constructed to maximize comfort with modern air ventilation systems, noise-elimination construction and noise-reduction windows. It starts with delivering fresh air to all common areas and allows for in-suite seasonal personal temperature preferences. Community
Condos are a great place to meet friends and socialize with like-minded individuals. Many people find friends to go for walk, run or to exercise with. When considering condo ownership in Barrie it is important to understand all the benefits that can enhance your lifestyle. All condo buildings in Barrie provide the common features but they are all different. Explore, learn and understand the lifestyle features that would suit you before you start your real estate search. Stephanie Adams is a Sales Representative at Royal LePage First Contact Realtyspecializing in Barrie Condos and townhomes. Note: Published in Snap Magazine Barrie July 2009
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