For many people living in a condo is a bit of a dream. The sheer convenience as well as some of the prestige that it offers is excellent. Of course, the price will be a major factor when you are considering buying a condo. However, they tend to have so many building amenities that are ideal for busy people.
Here are a few tips for you to be able to choose the right condo for you and your family.
Never sign a contract on a condo that you haven’t had the ability to be in the area and check out. Do some research to find out things like transport links. How far away is the nearest school, and what are the grades like? You should also check the distance to your local supermarkets, and what that supermarket actually is.
Condos, just like houses, can have different types. They can be a high rise or low rise. So think about what your preferences are. If you prefer to have somewhere that is quieter and more private than the chances are you are going to want to top unit. If you aren’t into heights and you like to speak to people a low rise building is better for you.
Setting location aside, and actually the condos price too, amenities can make a big difference. You should check to see if you have things like the gym, a children’s playground, a swimming pool, or even a function room.
Then workout if the price you’re going to pay for the condo is equal to the value of the facilities or is it something you’re simply not going to use.
When you are moving to a condo in the family, having something that is family-friendly, has local play parks, or a playground on site is ideal.
You’ll need to understand the type of bank loan is most suitable for your needs when it comes to condos. Your real estate agent will be able to approach several banks to enquire about this for you. Although you should do personally too. You can then better evaluate the offers. Just remember that as well as your income statement, payslips, credit lines, et cetera – any mortgage company or bank is going to want to see that the condo is on the FHA approved homes project list.
Before you sign on the dotted line, see if you can have a talk to any of the neighbors that you will have. They will be able to tell you more about the tenants in the building, if there have been any issues, and how many other families there are in the building. You’ll need to decide if the people either side above or below your condo are people that you’d like to have regular contact with.
Buying a condo is an exciting thing to do, it can give you access to your own space, but with more security and cheaper maintenance in the long run. Condos are the ideal way to get your foot on the property ladder safely, conveniently, and most people who start living in a condo never want to leave.