How to choose the right condo?
Are you ready to move out of an apartment but don’t want to take on the responsibilities of a yard and more than 1,800 square feet of internal preservation? A condo offers you all the benefits of owning without the responsibilities of maintaining a single-family house, such as raking leaves, mowing the yard, and cleaning the gutters. Although a condo is a perfect compromise for people who aren’t prepared to take on the responsibility of operating a whole house, there are some significant distinctions between a condo and a standard home that homebuyers should be aware of before purchasing. Do you want to know how to acquire a condo? Here’s some advice that might be useful:
Do you despise mowing the grass and trimming the hedges? Consider power cleaning your driveway. Is it going to be difficult for you to spend $5,000 or more on a new roof because of your financial situation? Condo living might be right for you if you responded yes to these questions. If your desire for a large backyard surpasses the work required to sustain it, however, another type of property might be a closer option. Likewise, if sharing walls, ceilings, or floors with a neighbor is undesirable, a condo — which involves physically living on top of your neighbors — may not be the best option. Condos are perfect for individuals who are fine with most parts of apartment life, with the exception of the built-in maintenance.
Researching the HOA and attending a HOA meeting are two of the most critical measures you can do to defend yourself when acquiring a condo like North Gaia. You should also inquire about the condo’s management with the neighbors to determine if they are satisfied. Examine the bylaws to see what the HOA is responsible for. You can also request minutes from previous board and member conferences, as well as information on how much the HOA dues have climbed in recent years. Another thing to look into is the board’s legal background, both in terms of taxes and other matters. If you buy, you might discover that there are appeals that you don’t want to be a participant in.
You’ll have to pay condo association fees in addition to your financing to maintain the property and its facilities. Examine the fees and see what’s included against what you’ll still have to deal with outside of the monthly fee. Inquire about how often — and by how much — the fees rise each year to get an idea of how much that sum will rise once you move in. It’s also a good idea to inquire about the neighborhood’s rules. Are there any noise limitations or requirements for pre-booking communal areas? Knowing these guidelines ahead of time will help you determine whether or not the community you’re considering is a good fit for you.
When you buy a condo, you just get the interior but not the exterior, however when you buy a house, you get the complete package. (Read: Buying a home grants you a lot more flexibility.) So there’s that, as well as the reality that you’re surrounded by your neighbors.