Tips for Buying your First Condo
A condominium, or a condo in short, is unlike your standard house. It is a large property that contains more than one house or apartment. All the lodgings within a condo are owned by separate individuals and more often than not, they are very premium with regards to their furnishings. Condos are usually very spacious and have enough space to house an entire family. However, the catch is that a condo is rarely ever up for rent. Thus, if you want it, you’ll need to own one, which is why going for condo shopping is not something to take lightly, even more so if this is your first time buying a condo.
For helping out newbies and making sure that they end up with a good deal, we have gathered some smart hacks to help out. Here’s what you can do when looking for a decent condo:
• Get Assistance From Professionals:
Having a realtor by your side to walk you through the process will ensure that you do not end up on the bad side of a deal. Fortunately, you don’t even have to pay the realtor; it is the seller who will be commissioning him/her. The realtors assist you by taking care of the legal stuff and guide you on financial matters. They also make sure that the condo is in the best condition.
• Know What You Want:
While the realtor will guide you, it is you who will be spending the rest of your life in the condo. Therefore, make sure your wishes are heard and answered. Make a wish list of things you’ll need and want in your home. This list will come really handy when the time for making the decision comes because it keeps you thinking practically.
• Search on the Net:
Next is your source of information. Knowing the property rates, checking the property guide, and staying up-to=date with all the new houses that have been put into the market will help you keep things in perspective and will provide you with a number of options to select from.
• Know Thy Neighbor:
When you are out house hunting, pay attention to the neighborhood and your immediate neighbor. If you think that your condo is all that matters and neighbors are just some people who live next door, you are being naive. A neighbor can make or break your life, and it is not an exaggeration. So, make sure you pay attention to the folks living next door.
• Drooling Won’t Help:
During condo hunting, you’ll be going through a number of condos. Naturally, some of them will make you drool over them at first sight. Unfortunately, these drool-inducing things are neither what you want nor what you need. They are luxuries which mostly are absolutely useless. Your wish list might not have a tennis court as a need but seeing a condo with one might make you buy it on the spot. Don’t make that mistake and always keep your priorities straight and your list in hand.
• Go Big:
The resale value of studio apartments and small condos are not that great. So, make sure you go for the big ones by looking at it as a long-term investment.
Keep these hacks and advice in mind and you’ll soon have a great condo to live in.