Condo Living – Is It Right For You?

If you’re looking to buy a new home with less maintenance requirements for a reasonable price, then you may want to start looking at condominiums. 

 

A condominium means contained space within the walls.  Condo units can come in many forms such as apartment flat, townhouse or detached structure. 

 

There are many positive aspects and unpositive aspects to think over while you decide whether condo living is right for you.  Some things you will want to keep in mind are:

 

• Is the neighborhood right for you – Like any home you might think about buying, you’ll want to make sure the neighborhood is good and safe.  You’ll also want to consider the schools, how you’ll shop and any commuting for work that will need to be done.
• What are Your needs – Many condos are two and three bedroom units with little storage space.  You’ll also need to take into consideration the number of bathrooms.
• The Outdoor space – Some condo associations have community playgrounds, pools, picnic areas and exercise facilities.  Along with that you will probably get a small backyard with a small patio.
• The Parking Arrangement – In some condo complexes, parking is an issue.  So make sure you get enough spaces with your unit.  That can differ from area to area.  Some units allot for one space and some will allot for up to three spaces.
• What is Security like – Some, but not all condo complexes have electronic gates that require a user code to enter.  Others have no security to offer.
• Are Pets Allowed – Many condo associations have rules about pets.  So find out what the rules are if you plan to have animals.
• Are there Association fees – You’ll need to ask about the monthly fees and annual increases for the upkeep of the property.  And it’s a good idea to ask what you can and can’t do to the exterior of your property.
• What Maintenance is Covered – Most exterior maintenance is included in the association fees such as painting, roof repair, etc. but you’ll also want to ask about that to make sure.

 

After you weigh your pros and cons, you may want to top off your deliberations by asking your self how much your household or lifestyle will change over the next few years.  Will you need more space?  Can you rent it out later if you buy now?  Or, as an alternative, what about a bigger house a little further from town?  Whatever you decide, I’m here to help with the buying process. 

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