Buying a condo can be a daunting task especially for the first-timers, but this should not be the case. Here are some essential tips to make the process easier and stress-free for you. 2018 Condo buying tips 1) Think long term. Don’t even think of buying a condo if you have no plans of staying in it for 5 years or more. 2) Know what you can afford. It is useless pining over a condo unit that you cannot pay for. Use a home loan calculator to determine whether you are financially ready or not. 3) Determine payment options. Familiarize yourself with various loan options. Options vary from one banking institution to another. 4) Obtain a pre-approval. A pre-approval is a proof that you are a serious home buyer. Banks take note of this. 5) Save for the down payment. A down payment can be between 10 and 30% of the total purchase price. So, again, make sure that you have enough savings to pay for it. 6) Hire a broker. Real estate brokers will be a big