What makes a Good Deal Good?

It’s not just about paying less. Unless you have the time and resources to spend on fixing up a property, buying a poor quality property, or in a condo building with issues, is not a good deal at all. Over time, you will likely end up spending more. The goal should be on finding a place you want to live in.

When I find a good deal on a condo I will highlight it in Best Condo Buys. This will be a unit, sometimes more than one, that I consider to offer special value based on a price change, added amenities, or anything else that makes the unit stand out from the rest. This isn’t the same thing as the featured listings you see on other websites or marketed in ads. I make these recommendations based on my working knowledge of the market.

There is some uncertainty about the market but there are also incentives for buying now. Interest rates are still at historic lows.
There is a good initial selection of units across all price ranges, plus motivated sellers.
The $8,000 first time buyer tax credit can now also be used as part of a down payment. To qualify for the tax credit, closing must occur before July1 of this year. Plan ahead, keepingĀ  in mind that a dedicated search for the most appropriate condo can take time and that financial institutions take months to finalize some deals, after an accepted offer and before closing.