Apartments are out and condos are in. Purchasing a condominium has its advantages compared to renting an apartment. For example, most condos are rent to own meaning you can eventually buy it after a few years. However, don’t try to jump into the bandwagon yet. As good as the condo ownership may sound; there are still factors that need to be considered before purchasing your very own condominium. If you’re thinking of leaving apartment life for condominium occupancy, then you should first find out about the following:
How old is the building. This is basically a check up on the stability of the building. Since you’ll be living here, it’s not wrong to find out if you’re going to be able to live in it for a long time.
The buildings security must also be checked out. This is a prerequisite before any real estate ownership. Nobody wants to settle in a place that isn’t secured, right?
If you have a car, then it is vital to ask about a parking space. Never assume anything, try asking whether a parking space is available and if it is included in the price of the condo. Don’t just stop prodding if the seller says “yes”. Request to see the parking space so that you can be sure that this is the one you want. And you might also want to think about possible friends coming over, so further ask about parking space for guests.
If you have a pet, then that would be a very vital part of your condo deal. Ask outright if the owners allow pets in the vicinity and the rules and regulations regarding keeping a pet in the area. You can also ask about possible renovations in your condo, just in case you want to change a few things in its built.
Always read the documents relating the sale. Ask your lawyer if you don’t understand some of the parts. Condo ownership is very rewarding, but only if it is done properly.