Many people are deciding to downsize their homes today, whether the kids are off to college and retiring soon, or they’re young professionals not ready to invest in a big house. For these reasons, condo living has become more popular in recent years. Urban areas as well as casual resorts and more rural settings have condos for sale that appeal to just about every taste. These types of hosting are showing up in unexpected places today. They are no longer relegated to the high-rise resorts on the ocean as they were in the mid-’80s. Old warehouses and factories are being converted to provide living spaces, and cities are expanding into what were once urban areas. rural to allow for multi-family housing with a natural, country feel. With this wide range of condo types for sale, it can be difficult to choose which one is right for you. Here are some tips to help you venture into condo living.
– As with all home purchases, get prequalified for a mortgage first. Find out how much you can afford and what financing options are available to you.
– Select a real estate agent to help you in your search. Their services are free and they can offer you their experience and knowledge of the area.
– Hire a law firm to help you with the closing procedures and legal advice for the purchase of a home.
– Ask the real estate agent to show you a variety of condominiums for sale: skyscrapers, apartments and accommodations with or without services such as swimming pool, tennis, doormen or training areas.
– Plan to buy the largest space you can afford. Studios and one-bedroom apartments are difficult to resell, unless you are in an area near college or university campuses.
– Visit the area at different times of the day to measure traffic, both pedestrian and vehicle, and find out what the noise level is.
– Choose a unit with the best view. This also makes reselling easier. Be sure to pay attention to incoming sunlight, though: a great sunny vista can also mean higher air conditioning costs in the summer.
– Check the parking space situation and make sure there is enough available for tenants and guests.
– Consider storage options by thinking about how much closet space you’ll need. Most complexes offer some type of garages or storage areas on site. Otherwise, you may need to factor a small additional cost into your mortgage calculation for monthly off-site storage fees.
– Do not forget to consult the evacuation routes in case of emergencies. Make sure you have a certified building inspector do an inspection before you buy.
– Talk to the neighbors and find out what they like or don’t like about living in the complex. Ask about pet policies and other details that may not have been advertised or explained by your real estate agent.
With these simple tips in mind and a great idea of exactly what you’re looking for in your new home, you can find condos for sale to fit just about any need. It’s a great way to live maintenance-free and in a smaller home when you don’t want or need a lot of space or furniture.