Each condominium complex has a unique set of regulations, and rules. Based on the condominium corporation, this will either be relaxed or very strict. Toronto condos often have rules that dictate restrictions on pets, noise, parking, changes to the room unit or appearance, etc.
Condominium varies from conversion, resale, and new construction and is offered in all shapes and sizes. A lower purchase price, new home warranty protection, finishing options and choice of unit location all the advantages of the new construction that will appeal to some buyers.
However, with the new construction, you may not actually receive the unit you buy and there may be changes made to it in the construction stage. You can check out the condo unit floor plan for your dream condo.
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Condominium conversion is very similar to the new condo at an early stage. Shell buildings already in place are a major difference between the two. Conversion and new condos share many of the same benefits.
Some may offer a unique construction project such as lofts. Home warranty program may not apply to condominium conversion so it is important to check with your provincial program. Also, some of the internal elements coming to date may mean that significant improvements may be needed sooner rather than later.