Ajax Condos

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Ajax Real Estate

The past few years have been very difficult in terms of buying and selling Real Estate throughout the world, but as of late, the market has been improving steadily. The amount of homes being sold monthly has risen noticeably in the past year, which indicates a strong start towards stabilization for the Real Estate market as a whole. Home values are still very low, which in turn makes monthly mortgage payments less for the buyer. These payments are now on average only a quarter of a middle-income households monthly income, which is the lowest it has been since 1970. These statistics are proving that if things keep progressing as they have been, the market may soon stabilize, and return to normal. There is also first-time home buyers tax credit of $8,000 being awarded to any family that is purchasing a first time home. This bill will only stay in effect until November 30th of 2009, but the National Association of Realtors intends to persuade congress into not only prolonging this bill, but also making it available for anyone that is purchasing a home that will be their primary residence. These are strong indications of a growing, and stabilizing Real Estate market.

Buying & Renting Condominiums in Ajax
Ontario is quickly becoming one of the largest Condominium markets in the continent. This boom in Condominium construction is centered around Toronto, which has had more then 17,000 new units being sold in 2005. This is largely due to “Greenfields” or pieces of land that can not be developed. This has led to developers building taller structures that can hold more people, rather then building many individual homes, which would take up much more space. The condominium market in Ajax has also been steadily growing since the Condominium Act was passed in 1998 by Ontario law. There are many, many condominium locations that are for sale in Ajax at any given moment due to this bill, which in turn makes the Real Estate Market more attractive for individuals and families that are shopping for new homes in the area.

Condos or Apartments?
A Condominium is like an apartment in the sense that you live in a building that has multiple dwellings a single family units inside of it, but when you move from an apartment, you get nothing but your security deposit back. When you sell your condominium, you may turn over a large profit depending on the condition of the Real Estate Market when you first purchased the condo, and the condition of the Real Estate Market when you sell the Condo. When you purchase a Condominium, you own the unit that you live in, as well as a voice in the complex as a whole. You have a vote in matters of management, maintenance, and development when meetings take place concerning the complex in which your Condominium is located. When living in a Condominium, the group of individuals that manage the complex as a whole provide maintenance to all of the units within their complex. This can save money in areas such as electrical and pipe system problems, as well as insurance for flooding and other unseen natural disasters that may occur. When purchasing a Condominium, you have made an investment that in the long run, can make you a great profit. When renting an Apartment, you put money into a living area that you have no say over, and will end up leaving with nothing gained. 

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