Buying a condo is a commitment. That is why one must make the necessary homework before deciding to buy a condo.
There are many facets involved in choosing a condo too such as price, location, amenities, and even condominium parking spaces, so choosing which condo to buy would also require you to do your research.
To help you out in your condo hunt, here are some questions that you need to ask before making the decision of buying a condo:
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Is it Accessible?
Having a condo in a nice location is pretty one-dimensional. A good location may just mean having nice views, or good climate, or a decent neighborhood. But in practical terms, an important aspect of location is accessibility to where you need to be.
Whether this be your workplace, school, or business, you should look for a condo that is connected well enough to places where you need to go to on a regular basis. You’ll also need to have essential establishments and services within reach such as supermarkets or malls. Accessibility is about making your day-to-day life easier.
Who Developed It?
The property developer has a lot of influence as to how a condo will turn out. From design standards to condo rules, different property developers offer a different living experience for their residents. That’s why it’s good to get to know which one owns the condo options you are looking at and to check out residents of their other projects to see how their experience have been. This includes checking out how issues with their unit have been resolved.
Is it Safe?
Your home should be a place where you can feel safe and secured. So you should look for a condo that is safe from natural hazards – far from fault lines, not prone to flooding. Your choice of condo should also be in a safe neighborhood with acceptable crime rates.
Your condo option should also have safety and security of its residents built into its core. It should be structurally safe, and should also implement high standards of building safety and security. And of course, they should implement protocols that will ensure that the residents are kept protected from harm.
How Much are the Condo Dues and What Do They Cover?
Condos residents pay for a monthly fee called condo dues which are typically used for the maintenance of the building and of common areas, as well as sanitation, security, and utilities for common areas. This ensures that your condo remains on tip-top shape, and is maintained clean and pest-free.
Some condos may charge dues at a higher rate than others, and some even charge extra for certain services so make sure that you check what kind of condo dues you should expect, and what additional charges you should anticipate so that you will be able to prepare financially. This will also help you choose among your condo options which ones would seem more practical on a financial perspective.
What are the Condo Rules and Regulations?
It has been mentioned that certain developers can influence the rules and regulations of your condo. But later on, it would actually be the homeowners association who set the condo rules so this is something that you will have to check as well when buying a unit in a condo that has been around for a while. Rules may range from what kinds of pets you can have in the premises (if you can have any) to whether or not you can list your unit to Airbnb and similar services. Condo rules can definitely affect your living experience so you should be critical about it when making your condo purchase decision.
There are many other questions that you should ask as you look for the right condo for you. The aim is to find the perfect fit so that your condo unit really feel like home. So fire away with the questions!