Condominiums have come a long way since gaining popularity in the last decades because of changing lifestyles and varying necessities. Though owning a home is still one of the most celebrated dreams of many, the hassle and complexity that comes with it is impractical and needless for everyone. Today, an increasing number of investors are choosing to buy condo units over house and lot.
Though condominiums have their own draw backs, it still has undeniable benefits that may outweigh the benefits of owning a house. These include affordability, strategic location, less maintenance, access to numerous amenities, and security.
Before deciding to buy a condominium unit, one should be sure if it is truly needed and if it is within the budget. If all these are answered satisfactorily the next concern is choosing the condominium that fits all your criteria.
First to consider is the location. One should at least spend time researching about the area you want to buy a condominium. Talking to independent real estate advisers and agents would greatly help. The property must at least be close to facilities that interests you like malls, convenient stores, schools, churches, parks, hospitals, public transport, work, gym, etc. This would significantly help you organize your schedule and save effort and time.
Next is to check out the neighboring area. If it close to establishments that may potentially cause a lot of noise or trouble like night clubs, bars, café or live music spot then this might be a negative point for that property. The condition of traffic and environment is also very important. You don”t want to wake up each day greeted with bustling cars and pollution if you want to have peace of mind.
Know how old the building is. Have an ocular inspection if there are facilities which need to be repaired or replaced. It is strongly recommended to have an engineer”s report about the overall condition of the complex since natural disaster may occur like earthquake.
The maintenance fee and monthly dues should also be crystal clear. This should be spelled out properly since real state agents might intently hold back certain payment information that might make their clients think twice of acquiring their offered units.
Choose the unit that has balcony or a place to enjoy the view rather than ending up to a unit which has their windows facing the bricks of another building.
If you have a car, parking lot is a very big issue since you have many other unit owners competing with limited parking spaces. Ask the administration if the parking slot is included with the property rights or if you have to pay for it.
These are some of the things to take into consideration before choosing and buying condominium units. At the end, the comfort and convenience of the buyer is still the top priority because eventually your acquired condominium unit will no longer be just a mere property but will become your own home.