Have you considered buying a condo as a rental property? If you are considering investing in a condominium, it is important to consider the advantages and disadvantages of the different types of condominiums, for example, apartment, townhouse, conversion, new, re-sale or pre-sale.

When selecting a condo to purchase, there are some key factors you need to consider in your selection. This is Part II of a two part article.

What essential factors to I need to consider when selecting a condo?

Certain factors may be more or less important, depending on whether you are buying a condo for personal use (principal residence) or for revenue real estate investment.

Condominiums are a popular form of shared home ownership in Canada. Almost 20% to 25% of housing in major Canadian cities are condominium apartments or townhouses. They are also the majority of the sales in many metropolitan areas.

Whether you are a buyer or seller of real estate, it is important to understand the factors that affect the market. This will help you make the right decisions, for the right location, at the right time.