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TOWNHOUSE vs CONDO | Which is better for a first-time buyer? - YouTube
Channel: Bald Prairie Real Estate
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the other day I met with a first-time
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buyer put a smaller budget but they said
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they really didn't want a condo they
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couldn't stand the thought of being
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trapped in what they called a glass
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house in the sky
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you know those apartment style high-rise
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places that are really popular you can
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really say markets like Toronto
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Vancouver they were insistent a
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townhouse better suited their needs you
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should have seen the look on their face
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that when I said the town owes the one
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they picked out was indeed a condo but a
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condo or townhouse are different are
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they not well yes they are different but
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maybe not for the reasons you think on
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this episode of all prey real estate
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we're gonna go over what a condo is what
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a town was is and which type of property
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is right for you hey guys welcome back
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to bolt play real estate my name is
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matthew bifur I'm real estate agent and
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Regina Saskatchewan from Royal LePage I
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think I found you a new Netflix show to
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watch it in quarantine
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it's about beavers best damn program
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I've ever seen okay that was a really
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bad joke yes a town of sometimes called
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a roll house in a condo a complete
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different yet at the same time sometimes
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are the same thing is this some sort of
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real estate version of quantum mechanics
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or something well in simple terms a
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connor is the style of common ownership
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while a townhouse or Rose is a style of
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building but don't anyone tell you that
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condos are bad purchase there's specific
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type of real estate that caters to a
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specific type of person guess what this
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video is being shot right now in my
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townhouse and you can buy condos and all
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sorts of styles but there's three major
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categories I'd like to go over you can
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buy apartment style townhouse style and
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single-family homes but I'm just gonna
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focus on those first two there in this
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video is what I'm gonna go over it's
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gonna be more of a generalization these
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things can and do vary for every
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property before buying a condo you
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should always go through all the
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supporting documentation to finding
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ownership finances bylaws and everything
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else here in Regina we call that the
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estoppel package in your market that
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terminology may differ so after your
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first time buyer looking to getting the
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Canadian real estate market which type
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of property should you buy we're gonna
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go through what defines a condo look at
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the different atooma partment style
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tonneaus sell condos bananas video I'm
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gonna tell you what's a better buy a
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townhouse or an apartment style condo in
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one simple sentence a con
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is actually common ownership over an
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entire building with exclusive access to
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certain areas at building so what a lot
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of people think of a condo they're gonna
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make those high-rise style apartments
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you see in large urban centers like
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Toronto Vancouver Montreal cetera
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they're a popular in those areas because
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their cost per square foot they're gonna
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be significantly cheaper than a house or
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a townhouse in the same area they have a
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lot of convenience as well you don't
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have to worry about snow removal lawn
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care exterior maintenance it's all taken
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care of through your condo fees but you
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do have some limitations you don't own a
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lot of the unit like you would in a
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single-family home
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you don't own things like the wiring
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that drywall sometimes even a lot of the
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plumbing fixtures you may not own
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essentially what you have is you own the
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flooring up from the paint in so if you
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want to make modifications that unit you
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may have to get approval from your board
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they also have restrictions on say
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things like pets or parking those are
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things that you have to look into when
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you're buying into an apartment style
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Connor but the convenience is really
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important to some people and that's what
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appeals to a lot of buyers of apartment
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sell condos while we're on condo fees
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let's talk about those dreaded condo
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fees quickly as they apply to every
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style of condo Kona fees cover a wide
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variety of things such as building
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insurance exterior interior maintenance
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calm utilities and a reserve fund
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now confuses something that gets a bad
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name but many things that are covered in
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Kona fees are things that you should be
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saving for when you own a house as well
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far too often I hear stories of people
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who get caught with a surprise bill to
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fix a furnace or something like that
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well guess what if you had your own
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little reserve fund saved up for repairs
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in your house you wouldn't have to worry
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about it okay
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enough about condo fees let's talk about
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townhouse style places so those are when
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you've got a unit that's gonna be
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stacked either horizontally or
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vertically on top of each other and they
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offer a lot of the convenience of an
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apartment style it's a lock and some of
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the flexibility of a single-family home
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you may have basements for extra storage
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or backyards so you can dry some time
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outside and of course for our best
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friends dogs
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well why hope my wife didn't hear me say
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that she did he wants a dog right now
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so she hears me talking with dogs Boop
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the ears perk up
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but yes you have that extra space and
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sometimes even your condo fees will
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cover your exterior maintenance lawn
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care that type of stuff town notices
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really are the perfect compromise
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between apartment style convenience and
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single-family home flexibility so what
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is the better buy department style or
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town style condo well that really
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depends on what you meet or what you
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want apartments have convenience and
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cost less per square foot while
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townhouses are flexibility and more
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space I always get asked which is better
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resale value and I could and I probably
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should do an entire video on that but
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how the market is doing in general plays
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a huge factor now and guess what I've
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got a video want to put up right here
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the talks all about for the current
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state of Canon real estate markets if
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you've got more real estate questions
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maybe that one question that's burning
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right now well I've got a whole series
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of real estate videos and I'm gonna put
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them up here I picked this one out for
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you thanks very much for watching guys
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