Condos can be a fabulous way to age in place for an extended amount of time. Edmonton senior condos are often are highly accessible, located close to grocery and medical services, with close transportation access. They often offer a social component that is vital to aging well.
For many, considering the purchase of a condo, understanding differences in condo fees, and reviewing condo documents can be an overwhelming process. Guiding you through finding the best housing or age-in-place option for you is my passion. So let’s explore together what you should look for, if you feel your next housing option might be a condo.
5 Tips When Considering Edmonton Senior Condos
1. The Community
Where your condo is located is nearly as important as picking out your condo suite. Ideally, you want your building to have easy access onto main roads, close to grocery, medical, restaurants and other amenities you’ll use. If you lost your drivers license, do you have good transit access? Is there a firehall or ambulance station nearby? Do you know your closest hospital? All these community features will help you feel confident and secure as your health and needs change over the coming years. Having your condo located in a connected community will help you truly age in place.
2. The Building Atmosphere
The other day I walked into a condo for a preview. A gentleman had seen me access the key box and introduced himself right away. He was the President of the Board and he wanted me to know if there was anything I needed to expedite the sale of any of their resident’s suites, to let him know and he’d help me out. Everyone knew everyone him and it was a very welcoming feel coming into that building. Everyone was chatting among neighbors and their was a warmth in the lobby. When you got to your showing, examine the amenity spaces, stop and speak to a few residents if you can and see if you can imagine yourself living there.
3. Reserve Fund
Every residents monthly condo fees contribute to the condo operating expenses but also go into a Reserve Fund which is meant to prepare for ongoing or future expected maintenance. Having a healthy reserve fund means less out of your pocket as a special assessment in the future. A review of condo documents before you purchase is a great investment to understand the health of the condo business and day to day management of the condo. You aren’t just buying a suite, you are buying into a business.
4. Review of Board Meeting Minutes
Most condo boards meet once a month or even quarterly – regardless of the frequency, you can learn a lot often from reviewing the meeting minutes. Reading through the minutes, can you see what are the common complaints or problems are? Do problems seem to get addressed quickly or drag on an on over many months? You can learn many things about a condo from it’s meeting minutes. When there are many available suites to choose from in a condo building, it’s nice to find out if there is ones to avoid from the minutes.
5. Finding the Right Suite
These days, you often have many suites in a building to consider. If possible, schedule your showings to review a number all at the same day. You’ll see various layouts, different views and get a sense for which might meet your needs best. You’ll want to consider distance to the suite from the elevator and from the parking lot. When you find the perfect one, you may want to make your offer quickly – as the most desirable suites usually won’t last long!
Even if you aren’t thinking of moving right away, finding a Senior Real Estate Specialist will help you to set up a preview of condos that best fit your vision. Doing some previews early allows you to get a sense of which buildings you like best. From there it is easier to set up a watch of these favorite buildings so your real estate agent can notify you right away when a suite comes available in your favorite building.
Confused or overwhelmed if a condo is right for you? My housing consultation is a perfect time to discuss if a seniors condo in Edmonton and area would meet your aging in place goals for you or your aging parents. We can work through the best Edmonton senior condos to meet your needs together.
