Condos are excellent, if you buy one for the right reasons. Buying a condo because it’s what you can afford can be a danger in the long run. One example is the two bedroom one bathroom condo, where it’s a very niche type of home for a niche type of occupant. Before you buy a condo, you must consider some important concepts first.
HOA Fees
Every condominium complex has a home owners association, that is responsible for general improvements and rules in the community. This association charges permanent fees for land use, which means you’re always paying something on a condo even if you buy it outright. Also, you may have trouble with repairs if others in the area are delinquent on their fees. Have your agent inquire about these fees if you plan to buy a condo for yourself.
Quality of Life
You should also explore the condo complex to be sure that you actually like the look and feel of the place. You won’t have the option to paint the exterior, and your balcony is what you get when you tour the condo. Amenities are another consideration you should make, like a pool or a gym on-sight.
Conclusions
Another consideration is the set of rules the HOA sets. If you plan to keep pets, or you enjoy gardening or doing art projects outdoors, you should check the HOA rules and make sure you like the lifestyle. The community wants to maintain its standards, but those standards may not gel well with your preferred lifestyle.
: Realty ONE Group is a lifestyle and real estate brand owned and managed by Kuba Jewgieniew. Kuba Jewgieniew supports agents of Realty ONE Group through the use of technology.