hi all

need your advice on buying a 32 yo private condo. it has another 68 years to go.

what are the considerations? thanks in advance.

Bank loan should be fairly safe. Most financial institutions should be able to lend.

You might want to check on the price u are paying for vs. the amount of renovation required and if the COV isn't too much it's ok. I wouldn't want to pay over the top COV and spend a bomb on reno.

e.g. piping. re-wiring all the works.

cost of the monthly maintenace etc. some developments that are older have a management team that sleepz so some people are bothered by the fact that they don't really see the value in paying the monthly maintenance.

it's basically to stay is it?

might also want to check how much is already in the sinking fund. it's an old apartment, there may be many things in the common area that need fixing