CONDO VS HOUSE | Which is a better choice for a first-time home buyer?

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  • čas přidán 13. 09. 2024
  • ➡️ 𝗧𝗮𝗸𝗲 𝘁𝗵𝗲 𝗕𝗮𝗹𝗱 𝗣𝗿𝗮𝗶𝗿𝗶𝗲 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗯𝘂𝘆𝗲𝗿𝘀 𝗰𝗼𝘂𝗿𝘀𝗲 𝗵𝗲𝗿𝗲: bald-prairie-r...
    Are you a first-time buyer in Canada trying to figure out what makes more sense for you, should you be buying condo or should you be buying house? Condos are simple and can have some great built in amenities. They are often built near transit, restaurants. Downtown etc. But houses have flexibility, privacy and more freedom. In some Canadian real estate markets condos are red hot while in other it is houses that sell like hot cakes. On this episode of Bald Prairie Real Estate, we are breaking down condo vs house to help you decide what is better to buy as a first-time home buyer in Canada to buy. Should you be buying a house or should you be buying a condo.
    Let me set you up with a great Realtor!
    📆 𝗕𝗼𝗼𝗸 𝗮 𝗺𝗲𝗲𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗺𝗲! calendly.com/m...
    #CondoVsHouse #FirstTimeHomeBuyer #BuyingAHouseInCanada
    Related Videos:
    Canadian Real Estate Market Update: • Canadian Real Estate M...
    Real Estate Terminology: • REAL ESTATE TERMINOLOG...
    5 Things you need to know when buying a condo: • 5 THINGS TO KNOW WHEN ...
    My name is Matthew Pfeifer, and this is Bald Prairie Real estate, a Canadian real estate channel. I am a realtor in Regina Saskatchewan working for Royal LePage Regina Realty. In nearly 10 years working as a real estate agent, I have seen both ups and downs in the real estate market. But there is no Canadian real estate market that you cannot buy or sell a house in. Often the media tries to present a Canadian real estate market, or they talk about the real estate market in Canada as if there is a national market. The real estate market in Canada is very regionalized. Being from Regina I focus on the Regina real estate market. Bald Prairie real estate is about educating you about real estate in Canada. I cover first-time home buyer topics, tips for selling your home, how to buy a house in Canada and monthly Canadian real estate market updates.
    (306) 591-3353
    mpfeifer@royallepage.ca
    Royal LePage Regina Realty

Komentáře • 269

  • @BaldPrairieRealEstate
    @BaldPrairieRealEstate  Před 4 lety +83

    If you are a first-time buyer would you buy a condo or a house?

    • @samanthalake5011
      @samanthalake5011 Před 3 lety +15

      I want a condo but, I'm scared of HOA fees going up every year.😳

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +8

      @@samanthalake5011 They will go up over time. Part of buying a condo is reviewing all the financial documentation with that condo. If the condo is being managed properly you shouldn't see big yearly jumps though.

    • @samanthalake5011
      @samanthalake5011 Před 3 lety +6

      @@BaldPrairieRealEstate Thank you for responding to my question. I'm a first time homebuyer and I am worried about everything lol.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +1

      @@samanthalake5011 No problem. If you have any more questions let me know. I have done alot of videos for first-time buyers that you can check out if you want as well.

    • @samanthalake5011
      @samanthalake5011 Před 3 lety

      @@BaldPrairieRealEstate I will check out your other videos as well thanks.💙

  • @crazycatlady312
    @crazycatlady312 Před 2 lety +66

    As a 25 yo single woman with no kids I'm leaning towards a high rise condo.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety +12

      Condos provide simplicity and security which is always nice.

    • @Mani-jo5lq
      @Mani-jo5lq Před 2 lety +15

      Same girl I’m 23 years old, single with no kids, I’ve always wanted to live in a high rise condo!

    • @BreakingJJC
      @BreakingJJC Před 2 lety +1

      I’m a 25 years old guy I brought a pre contruction condo is expensive buying a house in Canada

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety +1

      @@BreakingJJC yes it is.

    • @matthewhanani9818
      @matthewhanani9818 Před 2 lety +1

      @@BreakingJJC yeah in ontario especially, you can get a really nice condo gor 500K - 700K whilst youd need $1mil for a similar quality house

  • @mackenziegray2090
    @mackenziegray2090 Před 3 lety +89

    I like the condo options. HOA fees don't really seem that bad and could be cheaper. Instead of getting stuck with thousands of dollars in repair owning a house, you could only spend about $2K a year in hoa and don't have to worry about exterior maintenance.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +25

      You nailed it! Condo lifestyle is all about low maintenance and responsibility

    • @workinonit7508
      @workinonit7508 Před 2 lety +9

      It's more like $400/mo condo fee

    • @mackenziegray2090
      @mackenziegray2090 Před 2 lety

      @@workinonit7508 I would imagine region and different conditions effect prices.

    • @IG40kman
      @IG40kman Před 2 lety +6

      @@workinonit7508 Mines $235 and covers some utilities. Still a lot cheaper than renting in my area.

    • @jpdelete
      @jpdelete Před 8 měsíci

      Where are you living for $2k hoa per year lol

  • @silenthill1035
    @silenthill1035 Před 2 lety +29

    After living in a condo for so many years, I didn't realized that it is a type of ownership not the type of building. Thanks !

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety +1

      You are very welcome thanks for watching!

    • @andrewliang4112
      @andrewliang4112 Před 2 lety +1

      @@BaldPrairieRealEstate is it understandable that is hard to afford housing these days when houses in my area are 1.1 mil above and condo is like 400k at cheapest ? I got into the housing market pre construction condo for 500k I live with my parent our house worth 1.5 mil . I wish I can start off a townhouse but is too expensive

  • @star-cursed
    @star-cursed Před 2 lety +26

    One thing I hear and read about people in condos complaining about is issues in the neighbours suite damaging their own suite. A leak for example that is in the upstairs neighbours leaking into the suite underneath, or people below doing improper renovations causing structural integrity issues to the suite above (like removing a load bearing posts 😱).
    Of course neighbours in houses can also make renovations that impact the houses around them by doing things like building too high or digging too deep, but it seems to be less common.
    I guess the real moral of the story is that good neighbours are soooo important.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety +6

      100% neighbours are always important. In the case of a condo where a neighbour has caused damage to another persons unit, the persons insurance should cover that. Same as a house.

  • @zoewimmers9330
    @zoewimmers9330 Před 3 lety +24

    Great video! Condos are super attractive for first-time buyers and I always walk my clients through the differences on the loan-side of things.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety

      Thanks for watching Zoe! Glad to hear that you are walking buyers through the differences financially between buying a condo and a house.

  • @derice7375
    @derice7375 Před rokem +11

    I think if you have a big family,it's better an house but if you are a busy businessman single or a retired man the condo would be better for you,you don't have to deal with many houses maintenance like cutting grass,roof repair, electrical repair,or fixing plumbing pipe .I like my privacy,and this is why I hate living a noise areas.

  • @simil252
    @simil252 Před 2 lety +12

    I disagree for “noise and privacy”. I live in a condo downtown and I don’t hear anything from my suite, I rarely see people on my floor.
    On the contrary, my man lives in a house in a neighbourhood where everyone knows each other with zero privacy. We can also hear people having parties from houses away.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety +4

      Sounds like you have a great condo.

    • @Nikki-ks6wi
      @Nikki-ks6wi Před rokem +3

      You condo was probably not a converted apartment to condo which is how some plp can hear their neighbors

  • @yuramamin6611
    @yuramamin6611 Před 3 lety +16

    Easy, clear and short. Thank you!

  • @alisonandrade6825
    @alisonandrade6825 Před 2 lety +27

    Honestly having owned a condo its been such a hassle. From the constant emails to the people not wanting to pay their condo fees and special assessments and lousy neighbors all which impact your unit.
    And with a house the constant surprises that can easily make you go in debt... ive come to terms that unfortunately renting is the way out if you want no RESPONSIBILITY and or WORRIES.
    Obviously buying is such a great move and im grateful in 2 years i made lots of profit.
    However the upcoming MULTIPLE renovations to do in the condo and the increase in condo fees. I think the best bet is to sell and have a worry free lifestyle.

  • @tfptravel.food.peace.3788
    @tfptravel.food.peace.3788 Před 6 měsíci +3

    Can you do a video on what to look for or how to look for a well ran HOA.

  • @JordonMcConnell
    @JordonMcConnell Před 3 měsíci +1

    Getting close to that 60k income as a single young professional. Love the condos downtown and have been a downtown renter. The condo fees are definitely an impediment, but hopefully soon! The appeal of owning a small piece of my neighborhood and looking out over the train line and BRT appeals to my inner transit nerd, and having all the downtown amenities nearby is ideal. Hopefully more condo construction takes off in the US!

  • @kcbc42
    @kcbc42 Před 3 lety +4

    Thank you for being detailed an simplified as possible

  • @sitsock
    @sitsock Před rokem +1

    that universal remote joke was spot on!

  • @MrPAULONEAL
    @MrPAULONEAL Před rokem +4

    Some houses have HOAs which are the same as Condo boards.

  • @AnthonyJRLyons
    @AnthonyJRLyons Před 4 lety +6

    Cannot get enough of your channel! I’ll be studying all night long, taking notes.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 4 lety +3

      Thank you so much! I really appreciate the kind words. Next week's episode is real estate terminology!

  • @jamonta0313
    @jamonta0313 Před 5 měsíci +2

    My issue is I want the freedom and privacy of a house with land to do upgrades but I also want the low maintenance and convenience a condo brings. 😩

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 5 měsíci

      You could look at a bungalow/house style condo. That may have that blend.

    • @jamonta0313
      @jamonta0313 Před 5 měsíci +1

      @@BaldPrairieRealEstate thank you. I will look into that. It may be the perfect blend I want.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 5 měsíci

      @@jamonta0313 you are very welcome

  • @againstalloddz296
    @againstalloddz296 Před rokem +2

    All depends on what kind of neighbors you have everyone's not loud an you do have some privacy especially if you're living on the top floors condo apartments an house all have some good an bad benefits all depends on who you are an what you're looking for

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem

      Yes exactly. While they not be for everyone, condos do provide a great option for some.

  • @harryknutts8428
    @harryknutts8428 Před 10 měsíci +2

    im 47 single man and never owned a home and im thinking about it now as a way to control my living cost as i get older but i cant decide where or what and im a trucker so whatever i buy ill only be there about 8 days a month , im clueless , condo seems logical but then i sometimes want a house with a garage to tinker on stuff sometimes , im lost

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 10 měsíci +1

      It's always a tough decision and in your situation being away from home that much is a game changer. Go look at both options and see how you feel after looking at them.

    • @harryknutts8428
      @harryknutts8428 Před 10 měsíci +1

      @@BaldPrairieRealEstate I think you’re right I think I need to see how stuff looks in real life I mean thinking is one thing and doing is another

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 10 měsíci

      @@harryknutts8428 absolutely. Check out townhouses as well. That might be a compromise you end up liking.

  • @sammyonyema2344
    @sammyonyema2344 Před 8 měsíci +1

    Watching from Nigeria, thanks for the explanation

  • @nesq4104
    @nesq4104 Před 4 lety +2

    Condos in USA now cost same as house when it was supposed to be cheaper. Condos are horrible economic crisis when everyone stops paying monthly fees. Then free skyrocket

    • @canadianjatti
      @canadianjatti Před 3 lety

      In Canada they put liens on your house if you stop paying the fees...You can't really get away with it. You risk losing your house.

  • @andyspooner5608
    @andyspooner5608 Před 3 lety +16

    I’m a first time homebuyer and just bought a 3 bedroom condo with a basement and attached garage in total 1492 sq feet for 170k. The condo fee is $175 a month. It includes water/garbage/outside maintenance and a coffer for outside repairs. The place needs some updating in one of the bathrooms and kitchen. I keep thinking it may have been cheaper to buy a house and do all the outside work myself. Idk. I’ve rented forever so this is all new territory for me and a little overwhelming.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +3

      Congratulations on your new home! Where did you end up buying?

    • @andyspooner5608
      @andyspooner5608 Před 3 lety +1

      @@BaldPrairieRealEstate
      Thank you!! I bought my condo in Hartland, Wisconsin. It’s a suburb outside Milwaukee. I keep thinking I could’ve got the place a little cheaper, but in the end I paid 5k over asking. The market is nuts!! 8 hrs on the market and there were already 4 offers on this place plus my own. Shortly after I moved in 3 more residents put theirs up and the same thing... gone in a day. These places were selling for 150k-155k just a few years ago. I’m hoping the market doesn’t crash and bring down the value here.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +1

      @@andyspooner5608 Hello Wisconsin! Are you a Green Bay fan? I am one of the very few Canadian Green Bay Packers shareholders and I am only about 4500 places away from being able to buy season tickets. I have been on the list since I was a teenager.

    • @andyspooner5608
      @andyspooner5608 Před 3 lety

      @@BaldPrairieRealEstate
      Hell yes!! Diehard Packer backer!! I saw that Rodgers jersey hung up in your video. I have one as well along with the ol gunslinger!! I’d love to get season tickets. Good luck to you on moving up the chain with those. The Pack looks great offensively this year. This week is a big one against Tom and the bucs. I think we match up well against them

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety

      @@andyspooner5608 They sure are looking good. I expect Tampa to come out strong after losing to the Teddy Bears and Tom forgetting what down it was.

  • @georgioslykakis1112
    @georgioslykakis1112 Před 3 lety +4

    I was looking condos in Edmonton and saw a few with over $600 condo fees. Basically you'll be paying 2 mortgages and one will stay forever..

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +3

      Those are some very high condo fees!!!

    • @mackenziegray2090
      @mackenziegray2090 Před 3 lety +3

      I've seen condos are like only $50k but have like $500 condos fee. They're that cheap for a reason and should probably stay away from them.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +2

      @@mackenziegray2090 good point! The higher the condo fees generally the harder they are to sell reducing the value. Every $100 in condo fees takes away about $15,000 in a buyers purchasing power.

  • @xDomglmao
    @xDomglmao Před 2 lety +2

    Very helpful, thank you very much!

  • @clarknawrocki3851
    @clarknawrocki3851 Před 2 lety +1

    I'm a otr truck driver and have a house with a roommate and she is a slob I'm thinking about selling my house and buying a condo you don't have to do anything that's what I want

  • @eml3077
    @eml3077 Před 3 měsíci +1

    I don't want to maintain a yard but I don't want to pay rent forever so condo is perfect for me!

  • @robbiehugg2409
    @robbiehugg2409 Před 3 lety +2

    Great video! Very well done

  • @voztgee
    @voztgee Před 2 lety +3

    Condo units isn't totally owned by you, because it's still under the same building owned by someone else.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety

      That is correct in an apartment style condo but as I explained in the video the word condominium is a style of ownership not a style of building.

  • @sylvaindemers7384
    @sylvaindemers7384 Před 4 lety +10

    1500 views and only 50 thumbs up come on guys

  • @binu1455
    @binu1455 Před 3 lety +4

    Thank you so much for this video .. we are first time home buyers and looking for condos in Montreal .. could U pls tell me how Old condo should we buy? Or go for new one ? Which one will have good resale value ? Also like houses does condos rate also increases annually..

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +3

      Thank you for watching. Don’t stress out on the age of the condo find one that is well run and in good condition. Well run and well maintained condos will have much better resale value than ones that are not.

  • @bnepaul9268
    @bnepaul9268 Před 11 měsíci

    condo fees goes up each year and when u finish paying for your condo your fee becomes a second mortgage,, and condo gets assessed so very often , each assortment u have to.pay for whatever,

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 11 měsíci

      That's why it's so important to make sure you do your diligence when buying a condo to make sure that the condo is in good financial shape.

  • @Maxmillan
    @Maxmillan Před rokem +1

    thanks for the info!

  • @sapphiretollerson3749
    @sapphiretollerson3749 Před 3 lety +3

    Which states/cities do you recommend for a single mother? Low property and condo fees as well?

  • @fp2687
    @fp2687 Před 4 lety +18

    Definitely a house. Too much bylaws in a condo and maintenance funds are getting ridiculously high 😳

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 4 lety +5

      The bylaws and condo fees can be a challenge. With a well-run condo corporation that should be less of an issue.

  • @Thisismeofcourse
    @Thisismeofcourse Před rokem +1

    great video. But IMO condos are awful. I bought one but could hear each and every footstep the lady above me would make. Over time, it felt I was always being stomped on..so I had to resale. She was not even overweight, but everything could be heard. Why do you think that is?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem +1

      Thank you. Condos definitely are not for everyone.
      Noise from the units above is the hardest to stop for sure. If the building has a properly built sound deadening floor that will make a big difference but it won't stop it all.

  • @eml3077
    @eml3077 Před 3 měsíci +1

    Thanks!

  • @joreenhatulan2556
    @joreenhatulan2556 Před 8 měsíci +1

    We are a young couple and my husband is included in his family’s home mortgage in which we are living in with his family. We are going to get him list out from the mortgage soon, will this affect our chance of qualifying for our new mortgage? How about I alone will apply for the mortgage when we buy a house?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 8 měsíci

      Great question but unfortunately one I cannot answer. That would be best answered by a mortgage specialist.

  • @philipstreechon4523
    @philipstreechon4523 Před 2 lety +1

    Low Maintenace a condo is basically a commercial building and cost a lot more to maintain and you have no choice, and you do own anything just the space inside from paint in and poor investment.

  • @stlaroche8456
    @stlaroche8456 Před 3 lety +1

    Great channel and content supported by relevant facts. Keep up the good work

  • @scully2643
    @scully2643 Před 3 lety +3

    Whats the process if you have 2 full time job? Does it increase the amount you are qualify for?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +3

      Your mortgage qualification is based on your total income vs the monthly payment. You cannot spend more than 39% of your income on a mortgage payment, property taxes, and condo fees. Then you cannot spend more than 44% of your monthly income on all debts.
      Does that help? Thanks for watching.

  • @GazerPVPmc
    @GazerPVPmc Před 2 lety +1

    Good video!

  • @brunooneal
    @brunooneal Před 7 měsíci

    After 5 years owning a condo, I only see the advantages if you aren't capable to do any chores loke shovel your driveway or cut the grass... If you own a house at least you have the choice to do it yourself. Even if you pay someone to do it for you, is always cheaper than what they charge for condos... Remember: your condo fee is going to the whole building, not only your place. In a house you pay for your own building, that is probably smaler than the condo building... So, cheaper.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 7 měsíci

      Condos are not for everyone that's for sure. For some they are a perfect solution.

  • @crystalidx
    @crystalidx Před 3 lety +4

    I’ve been saving up for a condo for 10 years, I’ve saved up $120k so far. I want to buy a apartment in a high rise apartment. Properties start at $200k, is it safe to buy an apartment on a high rise apartment? I am wondering if there might be building defects that might make my property worthless. Is it safe or risky to buy a brand new apartment?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +2

      You are doing a fantastic job of saving up. Keep it up! Yes it is safe to buy a high rise apartment. Make sure to do all of your due diligence so you can be sure to know everything about the property.

    • @crystalidx
      @crystalidx Před 3 lety

      @@BaldPrairieRealEstate thank you. 😀

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety

      @@crystalidx You are very welcome. Thanks for watching.

    • @jordancheung8961
      @jordancheung8961 Před 2 lety +1

      @@crystalidx congrats I’m 24 years old and I save about $100000 and I’m looking to buy a pre construction condo for $500000. My parent willing to loan me $110000 and I will try to save another 100k in 5 years before the building finish but good luck

    • @Babyblue3333
      @Babyblue3333 Před 2 lety

      @@jordancheung8961 damn how do you save that much?
      Do you live with your parents and what’s your job and net income?

  • @dolcebelcanto3626
    @dolcebelcanto3626 Před 3 lety +9

    When moving out of your parents' house (so 20-year-old-ish), would a condo or house make more sense?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +13

      They both have pros and cons. It's more of a lifestyle decision than anything else.

    • @whitecastle323
      @whitecastle323 Před 2 lety

      @@BaldPrairieRealEstate let’s just move into Bald Prairie’s home & pay rent, it’s much cheaper!

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety

      @@whitecastle323 I charge alot for rent 😜

  • @arthurlurking4409
    @arthurlurking4409 Před 3 lety +1

    Thanks uncle fester

  • @djc5897
    @djc5897 Před 3 lety +1

    Based off this im gathering a single man like myself making gross approximately 70,000 a year (base pay + commission averaged per year) will have difficulties getting a morgage in 3 years if I have save up like 70-80 grand? If I do qualify I can most likely afford around the range of a $300,000 morgage (if I leaned towards a condo kind of what you alluded to) ugh so stressful thinking about my future real estate ideas. But a condo seems so much more simpler for my life style as I'm not getting married any time soon, I'm use to living in a apartment currently my whole life with my parents, im not having kids any time soon and I like simplicity and work from home for a living. Sounds like I have to go elsewhere besides the gta in searching for a residence in the future to compensate financially as pricing in real estate is obnoxious around Mississauga etc

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +1

      Your estimates sound fairly close. You may be able to push it a little higher depending on your debt servicing ratios.
      Condos do have that simple lifestyle which is what makes them attractive to buyers like yourself.

  • @debbieframpton3857
    @debbieframpton3857 Před 3 lety +5

    I have always bought a house I feel like a condo is too much like an apartment

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +1

      Yes that is one of the drawbacks to a condo.

    • @reneecollins9681
      @reneecollins9681 Před 3 lety +1

      A condominium is apartment but you just buy it and sit on it and some people live in houses and their houses fall down they can't afford the repairs I to keep up their lawns I find that so many people will talk about a condominium I can ride down streets and see houses deteriorating I pay the HOA fee and I see them keeping up with the place it depends on where you move and who's the management unlike living on the Block and nobody as maintaining their yard but when they get around to it people leave their trash cans out on the side of their house I lived in a house for 30 years I kept my house up my neighbors didn't it's very quiet where I live my neighbors Will Blast their music my house have parties all times of night no there are rules at a condominium the kind I like to live by respect your neighbors priceless

    • @debbieframpton3857
      @debbieframpton3857 Před 3 lety +2

      @@reneecollins9681 ,
      I'm glad you're happy with your condominium but I would not take it over a stand-alone house. I guess I'm lucky where I live everybody is pretty quiet they keep their house and yards up

  • @adjoaaj7593
    @adjoaaj7593 Před 3 lety +3

    So with a condo I have mortgage payments anddd condo fees?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety

      Yes that is correct.

    • @mackenziegray2090
      @mackenziegray2090 Před 3 lety +2

      But keep in mind, you don't pay for exterior repairs. Either pay maybe $200 a month in hoa fee or be slapped with a $10K roof repair or something like that for example.

  • @lj8040
    @lj8040 Před 3 lety +7

    I absolutely love your content! Very clear and concise. Wish you were in Toronto area, I would definitely want you as my realtor :)

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety

      Thanks Laveen! What areas of Toronto are you looking?

    • @lj8040
      @lj8040 Před 3 lety +2

      I am currently looking in the Etobicoke area, specifically in mímico. The market has really cooled off and interest rates are really low. Great time to purchase I feel.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +1

      @@lj8040 That is a nice area of Toronto.

  • @danielsoto773
    @danielsoto773 Před 3 lety +2

    For investment wich one..???

  • @Miguel._.Angel.
    @Miguel._.Angel. Před rokem +4

    Seeing the purchase of real estate as a long-term investment instrument, without a doubt I would decide to buy a house and would look to choose a house with its basement to legally rent it and "help" me pay the mortgage since there is undoubtedly a equity over the years in a house unlike buying a condo and combining to make the most of the recently launched #FHSA oh baby the rest would be history. 🤑🏡💵😎

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem +1

      If I could go back and do it all over again I would buy a house with a basement suite as my first house.

    • @Miguel._.Angel.
      @Miguel._.Angel. Před rokem +1

      @@BaldPrairieRealEstate
      You can do it and especially at #Regina, the sky is the limit. 😎 By the way, could you make a video giving some tips on how to buy a house with a legal basement? Thanks in advance, I have also been thinking that when I have the opportunity to buy my first house in #Canada I would like to put 🌞 solar panels on the roof as that would still give more equity to the property, I know it is expensive but it is another long term investment . ✌🏻

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem

      @@Miguel._.Angel. That is a great video idea thank you!

    • @Miguel._.Angel.
      @Miguel._.Angel. Před rokem

      @@BaldPrairieRealEstate
      You betcha... 👍🏻

  • @asherpangu
    @asherpangu Před 2 lety

    What about not first time buyer? I like simplicity and non maintenance but i wonder whether a new build house will be low maintenance too. I’m a third time buyer. I really don’t know what kind of maintenance is involved with a new house. Other than snow clearing and yard maintenance. Do i have to water grass every day? Thats a lot of work. What else maintenance is there for new house?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety +1

      Even a new house is going to require more maintenance than a condo because you don't have someone doing that maintenance for you. Cutting and watering the grass, general repairs, snow removal, yard work, mechanical system servicing et are all going to be things that you are going to have to do.

  • @johnsikoruthkoruth9775
    @johnsikoruthkoruth9775 Před 4 lety +1

    It was a good vlog .I am interested in buying a new condominium with 1or 2 bedroom in Toronto .what will be the budget?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 4 lety +1

      Thanks Johnsi! There are many variables before deciding on a budget. Things like location, features, amenities, finishes etc will all dramatically change the budget.

    • @johnsikoruthkoruth9775
      @johnsikoruthkoruth9775 Před 4 lety

      Taking all those in consideration can you provide me the details of buying a condominium with 1or 2 bedrooms in Toronto

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 4 lety

      Hugo I was able to put Johnsi in touch with a great agent in Toronto that specializes in condos.

  • @raniakhouadri266
    @raniakhouadri266 Před 2 lety +2

    Hello please can you gimme an advice i want to buy but im really between two mind condo or house ?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety +1

      Best way to look at it is which one fits your desired lifestyle and budget. Condos are awesome if you want that lifestyle, but terrible if you don't. A house has the awesome freedom but also the higher maintenance.
      A house is going to almost always cost more while a condo will be cheaper.
      Hope that helps.

    • @raniakhouadri266
      @raniakhouadri266 Před 2 lety +1

      @@BaldPrairieRealEstate i really appreciate your advice thanks for your time 🌷🕯🌷

    • @raniakhouadri266
      @raniakhouadri266 Před 2 lety +1

      Let's say that i have around 100k and 300k what do u suggest🥰🛫🛫🥰?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety

      @@raniakhouadri266 that is a very wide price range. It also depends very much where you live.

  • @jordanthomson8675
    @jordanthomson8675 Před 7 měsíci

    In a condo are owners have the ability to rent out their space

  • @grizy_i4271
    @grizy_i4271 Před 2 lety

    in terms of investment, condo sucks, comparing house, in my town, codo just little bit higher or lower than 10 years ago, but house? doubled tripled. if you bought condo you just have paid condo fee for 10years, on the contrary you have earned and expand your money double, triple with house paying off all the expenses you put into house.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety

      It all depends on the city and area. There are many cities where condos have tripled and quadrupled in price.

  • @rick-be
    @rick-be Před rokem

    What about renting an apartment? All the advantages of a condo without HOAs.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem

      You are still paying condo fees when renting. They are just part of your monthly rent.

    • @rick-be
      @rick-be Před rokem

      @@BaldPrairieRealEstate The landlord doesn't charge you when he puts on a new roof,it is taken off his taxes.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem +1

      @@rick-be I was meaning you do pay the monthly condo fees when renting they are just paid through the monthly rent.

    • @rick-be
      @rick-be Před rokem

      @@BaldPrairieRealEstate I knew what you meant.
      I was pointing out assessments which can be a lot for the pool or a major repair that the tenant has no liability for.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem +1

      @@rick-be yes you are correct when it comes to special assessments. But all that's going to happen is your rent is going to increase next time you go to renew it. You end up paying for it in the end.

  • @VipulChhetaPharmacist
    @VipulChhetaPharmacist Před 4 lety +1

    excellant

  • @ThaoNguyen-jv4up
    @ThaoNguyen-jv4up Před 3 měsíci +1

    A house YOU HAVE A YARD AND PRIVACY!!!!!!!!!

  • @otocinclus
    @otocinclus Před 3 lety +2

    Canadian Koenigsegg!

  • @joseorrego2450
    @joseorrego2450 Před 3 lety

    Hi I want to buy a condominium in gaithersburg Maryland but the condo fees are 700 monthly that is ridiculous my mortgage will be 950 only what happens here ???☹☹☹

  • @anaramos2694
    @anaramos2694 Před rokem

    Noho hank!

  • @jordanthomson8675
    @jordanthomson8675 Před 7 měsíci

    And are condo fees yearly or monthly

  • @rancegamingofficial
    @rancegamingofficial Před 6 měsíci

    When you retire do you still pay condo fees?

  • @LeNguyen-im8dm
    @LeNguyen-im8dm Před rokem

    I never like a condo. I always like a house and have a minimum down payment with 30% or 40% . I am living in an apartment in San Jose to save money. Big debt causes me stress, and I will die early. LOL.

  • @bikramsingh2262
    @bikramsingh2262 Před 2 lety

    I'm a first time home buyer and me and my wife make about 80000 or 90000 combined and we want to purchase a duplex or triplex around 500000$ (for investment) would bank approve my loan ? Do they usually approve the loans with this amount of earnings ?

  • @ferrytodd1758
    @ferrytodd1758 Před rokem

    The condos that I am looking at, in Toronto, include a fee of between $640/month to 800+ and it's the year 2022. You are talking about $150/month. was it years ago?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem

      This video was shot in 2020. I used $150 as a simple example for examples sake. Not saying that is what to expect everyone for all condo fees. In my market though that was and still is a very common amount for condo fees on a condo worth around $250,000-$300,000.

    • @ferrytodd1758
      @ferrytodd1758 Před rokem +1

      @@BaldPrairieRealEstate Oh - ok. Thank you! I've been viewing condos for $500,000, in GTA , condo fees minimum $650/month, which makes purchase hard at this point of time with interest rate of 6 percent - too high. I wish I could buy one in 2020.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem

      @@ferrytodd1758 This will sound very real estate cliche but there is truth to it. The best time to buy real estate was ten years ago, the next best time is today.

    • @ferrytodd1758
      @ferrytodd1758 Před rokem

      @@BaldPrairieRealEstate so this means interest rates are going up again very soon, if the next best time is now to purchase. 😟

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před rokem

      @@ferrytodd1758 LOL I hope not!

  • @littledove1292
    @littledove1292 Před 3 lety +1

    house is better than condo any day

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety

      Why do you think that Darlene?

    • @kindsplash21
      @kindsplash21 Před 3 lety +3

      @@BaldPrairieRealEstate hi I'm 14 and when I get older I want to know which one would be better I dont have a job and I havent started saving I live in dallas so i think it's cheap here. Also I'm not planning on having children or a husband but if i do they could still live in condo but what do you think is good

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +1

      @@kindsplash21 It is what best fits your lifestyle and budget. They both have pros and cons.

    • @kindsplash21
      @kindsplash21 Před 3 lety +1

      @@BaldPrairieRealEstate oh do u think condo would be good

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +1

      @@kindsplash21 Yup they are good options.

  • @karahman2021
    @karahman2021 Před 3 lety

    None of your prediction came true. Specially for Toronto market.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +1

      What prediction are you referring too? This video compares houses to condos? I didn't make any prediction in this video.

  • @salahuddinmuhammad3251
    @salahuddinmuhammad3251 Před 11 měsíci

    Condos seem stupid. you never stop paying rent, that condo fee, monthly, and you still pay taxes. It is a developer's dream. I can shovel my own own property. lol.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 11 měsíci +1

      The developer doesn't get paid the condo fees. They go to things like the reserve fund and maintaining the property.

  • @xaviercunningham691
    @xaviercunningham691 Před 3 lety +1

    What happens when you pay off your condo?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety

      Sorry what do you mean?

    • @xaviercunningham691
      @xaviercunningham691 Před 3 lety

      @@BaldPrairieRealEstate
      After you finish your last mortgage payment on a condo. Do you have to pay any personal property taxes like a home or just the utilities ?

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 3 lety +3

      @@xaviercunningham691 You still have to pay property taxes, condo fees, utilities, etc once your mortgage is paid off.

    • @reneecollins9681
      @reneecollins9681 Před 3 lety +1

      I love living in the condominium

  • @agreedboarart3188
    @agreedboarart3188 Před 3 lety +1

    I'm from the US but sup

  • @johnconnor2402
    @johnconnor2402 Před 3 lety

    Nothing I didn't already know :c

  • @whitecastle323
    @whitecastle323 Před 2 lety

    You’re like a normal size mini me I can’t stop staring

  • @christophersol354
    @christophersol354 Před 3 lety +1

    Snare drum...Crash

  • @santy33143
    @santy33143 Před 4 lety +1

    who punch you on the left eyes ? did you press charges? 😁

  • @winchangkou
    @winchangkou Před 2 lety

    Buy a house in Timbuktu. It’s still better than buying a condo

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety

      Condo’s are not for everyone, but for some the offer a significant number of advantages.

  • @karlmin8471
    @karlmin8471 Před 7 měsíci

    Condo is just for renting. I'm not gonna buy any condo.

  • @giovannipenate5325
    @giovannipenate5325 Před 2 lety +1

    This real estate guy looks like Lex Luthor 😂😂😂😂

  • @tommywong3147
    @tommywong3147 Před 2 lety

    Condos basically subsidizing house through property tax...

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety

      Yes in some ways they do if they pay the same property tax as a single family home

    • @tommywong3147
      @tommywong3147 Před 2 lety +1

      @@BaldPrairieRealEstate a 300 unit condo tower requires much less resources than 300 single houses. Garbage collection .roads maintenance, infrastructure etc.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 2 lety

      @@tommywong3147 100%. Most condos pay for their own private garbage collection and don’t use city garbage collection.

  • @alexandernadem4133
    @alexandernadem4133 Před 4 lety +1

    Good video, I hate condos

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 4 lety

      Why do you hate condos?

    • @alexandernadem4133
      @alexandernadem4133 Před 4 lety

      @@BaldPrairieRealEstate the fees involved are almost a second mortgage payment for homes that are less expensive.

    • @BaldPrairieRealEstate
      @BaldPrairieRealEstate  Před 4 lety +1

      You should check out my Real Estate Terminology video. I’ve got a good breakdown of condo fees there. But you are 100% right that sometimes those condo fees can be very expensive.

  • @nc8414
    @nc8414 Před 3 lety +1

    Get to the fn point. Over 2 min or over 2.5 min of rambling at the beginning

  • @jakenelson1658
    @jakenelson1658 Před 9 dny

    Where are your eyebrows

  • @davidg11134
    @davidg11134 Před měsícem

    dont buy neither its a scam!

  • @Lucius_murrius
    @Lucius_murrius Před 2 lety

    Man ! U need to grow a beard