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October 27, 2005

Required reading

The Way Home – Your New Home Buying Condominium Guide

L. Sara Bysterveld

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There is a new resource out there for anyone who is buying a condo, or even thinking about buying a condo. The Way Home – Your New Home Buying Condominium Guide is a new book funded and published by the Alberta New Home Warranty Program.

The need for a comprehensive guide to condo buying was identified by the ANHWP because of the sheer volume of multi-family housing being built in Alberta in recent years.

In The Way Home, homebuyers’ many questions (plus some they may not have considered) are gathered and answered in one easy-to-read manual. As Robert Toth, with marketing communications services for the ANHWP, says, the book “brings all of the different elements together in one document so you don’t have to pound the pavement to find what you’re looking for – it’s all-inclusive.”

Before The Way Home, if you were thinking of buying a condo and didn’t know where to begin, you may have talked to a realtor specializing in condo sales, friends and family who had purchased condos or experts in the field.

It is always a good idea to speak to a range of sources, but now the work has been cut significantly, as a variety of these experts weighed in to create this book.

The Way Home walks buyers through every step of buying a condo, from what to think about before you start shopping, through which questions to ask and precautions to take during each step of the purchase, right to the information you will need once you have moved into your new home and construction is completed.

While fundamental information such as the actual definition of a condominium, new home warranties, and the condominium corporation is well covered, more involved concepts such as the interim occupancy clause, “substantial completion,” and what to do if you find yourself in the middle of a warranty dispute are also explained in detail.

Perhaps one of the most important features of the book is the glossary, which covers all the common terms you may hear during the process of shopping for, and purchasing, a condo. Something as simple as knowing the common terms can make a big difference during the often overwhelming homebuying experience. Because of this, Toth suggests that buyers obtain the book before they even begin shopping.

“We’re trying to empower homeowners, and give them tools they can use to have a smooth process and make the buying process enjoyable,” says Toth. “If you know what to expect, you know what questions to ask and you won’t be surprised at any point.”

The Way Home is available through the Alberta New Home Warranty Program and at the sales centres of its member builders. It is available in pdf form at http://www.intheknowcondo.com. The web site also outlines where to find the guide in hardcopy form.

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