“If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.” — Steve Jobs
Looking for a perfect home can be quite tricky. You would have to consider so many things before purchasing one. As a first-time homebuyer, buying a condo can be overwhelming for you as a vast array of selections will welcome you. Since buying a home is one of our life’s milestones, abrupt decision-making is a huge no-no in this setting. You are recommended to conduct ample research before making this investment. Not because you found an excellent and affordable deal, it means that that space is worth investing. As you decide to take a step in condo living, you might think that price is all that matters in this transaction, but that’s not always the case.
Likened to doing shopping in groceries, a customer would always resort to a store that sells goods in its best condition. As they always say, ‘quality over quantity.’ Don’t settle for a place that’s only healthy for your wallet, but choose a condo that also befits your lifestyle. But if you’re going on loops on what type of condominium that’s best for you, check out these considerations to help you find your ideal condo unit.
Reliable Real Estate Agents
Homebuyers should be working with qualified AND reliable real estate agents. Doing so, they will help you during your buying process. The agent will be a link between you and the sellers. They can give you sound incites regarding your choices and help you decide better things for yourself.
The Reputation of the Developer
Aside from having a reliable agent with you, knowing about your developer is a vital thing to do before investing in their units. Let’s say you’re eyeing for those pre-selling condos in your area, the developer’s reputation and track records is a prediction of how well they would execute their job. By doing such, it will help you determine the credibility and quality of their services. This factor is essential as there are cases of projects ceased construction because the developer ran out of funds and where buyers suffer its loss of being scammed.
Otherwise, if you opt for ready-for-occupancy units, the developer’s reputation is a hint of their commitment and dedication to the homeowner’s association. It will help you define if the developer has trustworthy management. After all, it’s about your home- a space of peace. It’s better safe than sorry.
“Location. Location. Location.” It’s like a constant mantra in real estate properties to always consider the site before buying a property. You have to think of the proximity of your condo to some key places such as schools, hospitals, market or even to malls. Look through if it’s convenient and easily accessible through significant roads. Also, evaluate the neighborhood. Take a look at the possible urban developments in the area. It’s helpful to take a few drives around the locality and discover if its features are befitting for your lifestyle.
When buying a condo unit, you have to determine what type and size you’d want to live. Know that your condo unit is a place that adheres to your character, personal needs, and even capacity. If you are living with your family, choose a home that can cater to all your needs. You won’t want to live in a studio type condo if you’re a family of six, would you?
Some condominiums are expensive due to the facilities it offers. Some have swimming pools, gym, children’s playground, entertainment rooms, function rooms, laundry shops and the like. It is essential to assess if your payment corresponds to the conditions of the facilities. You also have to consider if you can make good use of the offered amenities despite the number of your neighbors who share the same facilities as you.
Condo Rules and Regulations
Condo living is not as free as having your own house. As you are sharing common areas, condo residents have restrictions abided by everyone living in the condominium. For instance, it’s not permitted to bring any pets in condo units. You could also be forbidden to renovate and alter the wall colors. Know the rules ahead so you won’t get disappointed upon purchase.
Association Dues and Reserve Funds
Association dues represent an array of charge and fees. These fees are contributions from unit owners to make up for the shared cost of property maintenance such as for condo maintenance, safety and security, and property management. Also, have a sufficient amount in your reserve fund. With reserve fund, you may use it to pay expenses such as to amenity repairs, parking lot reconstruction, and other repairs your condo might need. So, from your salary, make sure to allocate a budget for your association dues and reserve funds.