There is so much emphasis placed on buying a 1 bedroom apartment in Hamilton, ON that most homebuyers give little thought to what they will experience after the home buying process is over. Life after buying a condo consists of responsibilities and priorities that homeowners may not have considered when looking for a new home in the beginning. These responsibilities may take them by surprise but that does not have to be the case! By planning accordingly, new condo owners can anticipate the costs and responsibilities that lie ahead. Below are a few of the most important things new condo owners can expect after signing that dotted line.
For the homeowner that recently moved into a new apartment it is crucial to, ‘make your apartment your own.’ You purchased the home so invest in decorating it however you wish! Consider hiring a professional painter to make the colour scheme of your home a little more up to your standards.
Do not cut corners when adding new décor and furniture to your home! While you can certainly keep your old furniture and integrate it into your new pad, consider how it will all fit and look in your new spaces. Not all furniture can transition properly to a new place and some of it may not even fit; other pieces may just look rundown and worse for wear.
Whatever the case may be in your new home, never skimp on the chance to make it functional yet pleasing to the eye. If you need a larger kitchen table don’t settle for the small table that’s falling apart in your current place: make your spaces, ‘yours.’ In truth, that’s really what owning a condo is all about.
Making the home, ‘yours’
You are done renting and you’ve said goodbye to landlords: now that you own your apartment you finally have a space to make it, ‘yours.’ It’s a beautiful feeling yet it doesn’t come cheap. Add appropriate pieces to areas like the bedroom – a new end table or a bigger bed, for example. You will also want to add new items to the kitchen: appliances for hosting, new utensils, cleaning supplies, and so on. Consider making a list of everything you think you will need for your new apartment in Hamilton before moving so you know at least what you can expect after closing day.
Your expenses will not primarily be focused on decorating your new spaces though. As you continue living in your apartment you are going to figure out very quickly that you are responsible for condo fees going forward. These fees allow the condo board to provide services to the premises: landscaping, the upkeep of amenities, and repairing miscellaneous interior damages (e.g. replacing plumbing, switching lightbulbs for more energy efficient bulbs, etc.)
If you purchased an existing apartment you may also be required to pay the rest of the fees they owed. These can range from a few things from outstanding condo fees to utility bills and even property taxes they have yet to satisfy. Yes, it can be a pain to pay these fees – especially when they are sprung upon you when you thought nothing else was owed – but they are absolutely mandatory.
Insurance premiums and utilities
You can’t live in your 1 bedroom apartment in Hamilton uninsured! Expect to put aside a certain amount for insurance premiums every month. Although your condo may have their own insurance policy for your unit there are always things that are not covered by them. Be sure to inquire with your insurance agent regarding what items are not covered by the condo’s insurance policy and what kind of policy you need to ensure your entire home is properly covered and protected from things like theft, injury on your premises, etc.
Further – and this may seem like a no-brainer but it bears mentioning – know what you will be spending on utilities every month. This of course includes necessities like electric, water, trash pickup if applicable, etc. Also consider little things you may not have thought about: internet service, cable, parking fees, locker fees (if applicable), public transit fees/fuel costs, and so on. Moving to a new place can add up quickly but by anticipating the costs and fees you will be responsible for you can seamlessly transition into your new place!