A lot of money goes into buying a condo and the choice can therefore be challenging. Here’s what you must consider.
Have an idea about security
A condo unit has different set of measures that they take for security. But that may differ from condo to condo and it is a good idea to read into that. There have to be CCTV cameras installed in correct spots and the security guards they appoint must be active around the community.
Know the developer
It should be understood that buying a condo is just like any other investment and should not be treated differently. Try to outline all the services that you seek and also that the best amenities are offered to you. The developer and buyer both have to be in the same loop and the buyer needs to research on the quality of services they’ve offered in other projects.
Understanding of the rules
Like any other type of dwelling, there must be certain set of rules which would have to be followed by people moving into a condo. It is important to make yourself known to these rules. Rules could be anything from having pets enter the building to having pets stay with you. This might set off all the pet lovers and they obviously need to start looking for another place before making investments.
Choice of view
It should be known to prospective condo buyers that they are entitled to a scenic view all around and it is an advantage tailor made for you. Take effort into choosing the condo with the best view because this is what you’ll wake up to everyday, a mountain or city view. For people who are afraid of heights, it should be told prior that you wish for a lower floor.
Get to know your neighbours
For any condo owner, a deciding factor many a times is the neighbours they might get to live with. It is obvious that you will need people who are helpful and free to interact on a daily basis.
Know your budget
A condo is, again, like any other asset and must be invested in based on the financial capacities of the buyer and not beyond it. The prospective owners must look beyond the down payment and be aware that there are several other expenses such as electricity bills, HOA fees, monthly maintenance and other costs that you will incur. It is simple math that an expensive condo might out you in a fix financially so always know what you can afford and fits your budget.
Awareness of the location
Do proper research of the area where the building is located. You may find that it could be accident or flood prone and also very distant from the closest grocery store. It may not be accessible from your office and parking space may not be sufficient. Take a note of all this before you move in or pay the price.