A condominium can be any type of residential unit and refers to a method of ownership rather than a type of building. It can be a high rise building, a shared duplex or a low rise building.
When you purchase a condominium you purchase the dwelling in which you reside. All other space including common areas and land is a shared ownership with other homeowners in your condominium community in which you collectively contribute to the upkeep of this shared space.
Buying a condominium is a significant investment and Brandon Condos is committed to providing the highest level of services and satisfaction to each and every member of the Braecrest Condominium community. We are with you every step of the buying process always offering excellent customer care.
First Time Condominium Buyer’s Guide
What is Your Preferred Location?
When considering purchasing a condominium consider the location of your new home and where you want to live and what your priorities are. You will need to consider proximity to work, highways, shopping, schools and recreation.
Braecrest Condos are located on the beautiful and picturesque North Hill. Close to shopping, walking/bike paths, recreation facilities, restaurants with convenient access to highways #1, #10.
Consider Your Budget
A simple mortgage calculator can help you begin this process. This will help you decide on how much you can afford. Meet with a lender or mortgage broker and establish how much of a mortgage you will qualify for. It is important to shop around as rates can vary considerably.
Take advantage of the financial incentives available to first time buyers:
First-Time Home Buyers’ (FTHB) Tax Credit
Introduced by the Government of Canada to assist first-time homebuyers with the costs associated with the purchase of a home, a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief.
Home Buyers' Plan (HBP)
Allows first time home buyers to borrow up to $25,000 from your RRSP for a down payment. It is tax free and if you are buying with another individual who is also a first time home buyer you can both access from your RRSP for a total of $50,000.
We urge you to investigate all options available to help with the cost of purchasing your home.
Identify Your Needs
Make your list of what amenities you want with your home and don’t forget the extras that may make your life much more enjoyable. Parking, storage and fitness facilities can all add to your enjoyment in the condo lifestyle.
Braecrest Luxury Condominiums are designed with the homeowner in mind. We pay attention to the details that make it easy to live the lifestyle you deserve.