Condo living has become a very popular option over the last decades. The relatively carefree lifestyle appeals to many North Americans. Condos offer buyers more accessible housing with minimal maintenance required. Social, entertainment and recreational activities are also available in many condo complexes, particularly with condos for sale in Toronto. However, before you buy a condominium, you should make sure that this is the appropriate choice for you.

A condo is not so much a style of construction but more of a type of ownership. This type of ownership can pertain to houses, low-rise residential complexes and townhouses although it is usually affiliated with high rise constructions. Condominiums are composed of two elements, the unit and the common areas. The units are recorded in the owner’s name and are individually owned . The unit proprietors own in common the common areas such as recreational facilities, hallways, elevators, gardens, etc.

Buying a condominium means that you hold your specific unit but also that you become part proprietor of the common property elements of your complex. Some of these common property elements may be for the restricted use of certain unit proprietors. For example, parking spaces, lockers, balconies are unshared use of common property elements. Be sure to enquire about these before you buy as they may still carry restrictions even though they are restricted use common elements.

There are specific rules, bylaws and regulations affiliated with each condo complex. Based on the condo corporation, these can either be relaxed or very strict. Toronto condos often have rules that impose restrictions on pets, noise, parking, alterations to the unit space or appearance, etc.

Condos vary from conversions, resale and new constructions and are available in all shapes and sizes. New constructions will attract some buyers as they will offer greater choices in terms of unit location, finishing options, new home warranty protection and sometimes a lower purchase price. Beware though that there may be modifications to the unit in the construction period and that the unit you bought in pre-construction may not be the exact same one you get.

Conversion condos are very similar to new condominiums in the early stages. The exterior of the building being already in place is the main distinction between the two. Conversions and new condos share many of the same advantages. Unique constructions such as lofts may be available in some projects. Home warranty programs may not pertain to conversion condos so it is important to check this with your provincial program. Major repairs may be needed sooner rather than later as some of the internal components will already by old despite the new units.

Buying a resale condo can be advantageous for those who prefer to see the units and the grounds before they make a final decision. You can talk with the existing owners, ask questions to the property manager and board of directors. This can provide you with beneficial information. The lack of unit options and the possible need to upgrade or renovate them can be a disadvantage of resale units.

Be sure to speak to professionals who specialize in condominiums before you complete your decision. An experienced real estate professional can help you save time and energy. A real estate lawyer with understanding of condominiums will help protect your legal interests.  Hire a home inspector to find out about potential defects or repairs needed to the unit and the building. To ensure that you can afford the monthly payments including mortgage, condo fees and property taxes, be sure to talk to a financial advisor. Visit as many condominiums as possible and take your time. The right condo is out there, as unique as you are.

Located in central part of the country along the low flat plain of the Chao Phraya River, Bangkok is the largest as well as the capital city of Thailand. The cultural, educational, and political center of Thailand, Bangkok is one of the top tourist destinations in southeastern Asia, with a range of fabulous attractions such as Chitralada, Royal Grand Palace, Erawan Shrine, the temple of the Reclining Buddha, Wat Pho, the Bangkok National Museum, and the Bangkok University Art Gallery.

Apart from being a popular vacation spot, Bangkok is considered the backbone of the country’s economy. For instance, the Stock Exchange of Thailand is located in Bangkok. Further, a large number of commercial banks and financial institutions have been headquartered in the city. Further, the cost of living in condominium is exceptionally low.

Above all, when compared to other Asian cities, Bangkok is a safe place to live in. Perhaps for these reasons, people prefer to live in Bangkok. Living in Bangkok is not only a great way for tourists to discover the great attractions of the place but also an excellent choice for those who want to settle here permanently, since it is strategically located center to almost all prominent Asian countries.

Like any other Asian cities, Bangkok provides a range of accommodation options to choose from, such as, budget villas and bungalows, single detached homes, and luxury apartments and flats coupled with a host of peerless amenities and facilities. Along these accommodation options, condominiums are also considered a great choice to live in Bangkok. But, this type of accommodation is quite different from other accommodation types.

A specialty of condominiums is that they possess dual nature, ie, a condo owner has full control over his unit. But, the owner is required to share the cost and expenses incurred for the common facilities of the property, like passageways and lobbies. In the case of condominiums, the owners are required to follow the rules and regulations formulated by condominium association. Nowadays, condominium units found here matches with the design and style of those units in some of the hi-fi Asian cities like Singapore and Hong Kong.

Depending upon the budget, lifestyle, tastes and requirements of the people, a multitude of condo units are now available in Bangkok. Some of the most popular forms of condominiums available in the city are apartment, townhouses, and single detached homes. No matter it is of any type, a condo unit in Bangkok mostly comes with comfortable bedrooms with adjustable beds, expansive living rooms, fully equipped kitchen with superb dining area, and sophisticated bath area with uninterrupted water supply.

In luxury type condominium units, facilities such as parking areas, fitness room coupled with gym facilities, laundry, Jacuzzi, separated male and female saunas, pools, and meeting rooms are included. Additionally, many of the condominium properties come attached with areas exclusively for children like kids pool and playground. Mostly, luxury condo units are located in such posh areas of the city as Sukhumvit, Sathora, and the Central Lumpini areas.

Living in a Bangkok condominium offers a host of benefits. One of the major advantages is that it is affordable. You can become a part of the unique community by living in a condominium in Bangkok. Low maintenance is another prime benefit of Bangkok condominiums. Advantages also include safety, as there are a lot of people around, there may not be chances for theft and robbery.

Above all, condominium life allows you to utilize a range of facilities such as pool, library, and elevators. Apart from these, condominiums are considered a long term investment. Understanding the importance as well as the benefits of Bangkok condominiums, many foreigners now invest in condo units. Further, a condominium is the only type of asset that can be legally owned by a foreigner in the country. Even a special law has been formulated for purchase of condominiums, known as the Condominium Act of Thailand (1999.)

With a myriad of real estate consultants, realtors and property builders in the scenario, buying or renting a condo unit in Bangkok is no longer a tedious process. In addition, since many of them have them have their own websites with details regarding the nature of the property, expected price or rent, amenities available and pictures of the condominium, buying or leasing a condo unit has now become quite convenient.

If you’re planning a window or door replacement project, then now’s the time. That’s because you can receive a tax credit for 30% of the cost of qualified energy-efficient windows and doors, up to $1,500. This is a huge opportunity for you.

The tax credit was originally a measly $200 for windows and up to $500 for doors. Now Congress and the President have passed the American Recovery and Reinvestment Act, aka “The Stimulus.” Inside is a provision that triples the old tax credit.

This isn’t just a handout. To qualify for the new Tax Credit, you have to be a smart shopper and buy the most energy-efficient windows. Energy Star certification, the old standard, doesn’t cut it anymore. The new standard will help our country become energy independent. Plus, better windows save you money on energy bills and keep you comfortable all year round.

What Are The Requirements For The Tax Credit?

Only windows and doors with a U-Factor of .30 or less qualify. U-Factor is a measure of the window’s overall energy-efficiency. Many windows have U-Factors of .31 or .32. Those don’t qualify.

Windows and doors also need a Solar Heat Gain Coefficient (SHGC) of .30 or less. A low SHGC blocks the blistering heat that comes through windows in the summer, reducing the load on your air conditioning. Once again, .31 or .32 aren’t good enough. It has to be exactly .30 or less.

U-Factor and SHGC are independently tested and verified for windows by the National Fenestration Rating Council. Any reputable window will have a NFRC sticker.

How To Tell Which Windows And Doors Qualify

To get your $1,500 tax credit, you need to shop smart. Many windows and doors out there don’t meet the new requirements—even some high-end brands you’ve heard of. A lot of companies haven’t processed or don’t even know about the new tax credit. There’s a lot of confusion about this right now—you don’t want to be left empty-handed.

Here’s what you need to do: Make sure that any replacement window or door you buy has a U-Factor and SHGC of .30 or less. If the window company won’t show you the NFRC sticker certifying the ratings, walk away. If you’re unsure or suspicious, visit the NFRC at www.nfrc.org. You can verify ratings in the product directory or contact them directly.

How To Claim Your 2009 Energy Tax Credit For Windows And Doors

1. Purchase and install any replacement window, patio door, or entry door with a U-Factor and SHGC of .30 or below between January 1, 2009 and December 31, 2010.

2. Save your receipt and each window and door performance label (NFRC label) with your tax documents.

3. Claim your tax credit on your Federal filing for the 2009 or 2010 tax year.

Terms and Limitations

• The tax credit is for the cost of the product only and does not include installation costs. Be sure to ask for a sales receipt that shows the cost of the product only.

• The tax credit is 30% of the amount paid up to a $1,500 maximum.

• If a combination of windows and doors are purchased, the total maximum credit is $1,500.

• This is a new tax credit for 2009/2010