Buying a condo is not just like buying n ordinary home. There are different factors that you should consider before landing the right choice. For instance, when looking at the The Wyatt Condos, you need to look at the neighborhood, parking pace, monthly charges among other variables common to condominiums. Here are eight tips for looking for condos that will help you make the right purchase decision.
- First, be open to any choice. Be prepares to check out a variety of condo styles- from high-rise to low- rise, and others with amenities like gym facilities and doormen. This will help you to find the match that suits you.
- Meet the building staff. If you are going to like them, then chances are you’ll be comfortable living there.
- Find out the monthly condo maintenance fees and the specific details about those charges. For instance, if there property taxes, and are they part of the fees? Common expenses levied to occupants are insurance and repair costs.
- Do not lose your view. This is for those who want picturesque scenery right outside their window. Note what is being built next to the particular building and other details that might interest you. If it’s another high-rise condo, you should confirm that it’s not blocking your view before you settle on the purchase.
- Check out the community. Chat with the owners already living there. Foreclosures and delinquencies have plagued numerous condominium properties, so you need to do your homework if you do not want to watch your dream condo turn into a nightmare. Also, it is easier to get a mortgage to buy a unit where delinquency rates are low.
- Take a look at the condo association’s meeting minutes. You want to buy into a stable community. The minutes will give you a good view of the culture of the building. You’ll be able to determine if the condo leadership is responsive to concerns of the occupants and if any particular residents are loud, intolerable, and are driving the rest of the building crazy.
- Get the history and projection of future resale price. Your real estate agent can help you determine this. The condo is an investment. Find out how much it previously cost, and how much you will make down the road. Also, see what comparable suites in the building and the region have sold for.
- Research the developer and corporations behind the condo. You do not want to buy a place drowning in debt. You also do not want to be entangled in contentious lawsuits
When you zero in on your preferred choices, visit them during different times of the day, especially in the morning and evening. Scope out the neighborhood and see if you’re comfortable with it.