A Slow Condo Market= A Great Time to Invest
According to reporter Patrick Langston’s article in the Ottawa Citizen this past Saturday, the condo market hasn’t “fallen on it’s face, but has definitely stumbled. Condo starts have plummeted with lots of inventory on the shelf, and several projects have either been put on hold. or increasingly, converted to rental properties.”
CMHC echo’s these comments stating that the number of unsold units remains high from a historical standpoint. In fact, the agency recently warned that the overabundance of unsold units and those coming on-stream could put the health of Ottawa’s housing market at moderate risk.
But what this means for investors and buyers alike is that now is a great time to buy low, and take advantage of locations and lifestyle that might have been out of reach just a few years ago.
See link below for full story;
According to Houry Avedissian, owner of Ha2 Architecture Design, some of the most important things to look for in a condo are:
High Ceilings
Clever Storage
Open Spaces, Flow from Rooms, Light and Airy
Large Expansive Windows
Large Balcony
Lots of Natural Light
Avoid the First Few Floors to be away from Noise
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Source: Ottawa Citizen Saturday Nov 14, 2015 Edition