There are lots of condos to choose from, they all sorts of promos in gimmicks in trying to sell what they have. Aside from these juicy promos and advertisings, what should be considered primarily in purchasing a condo? How will we get the best deal in buying a unit? Here are my tips.
- Check your capacity to pay. Of course we cannot go over our expected budget, have your credit in check so that you may spend accordingly and not go over your projected expense. Put also in to consideration the expenses resulting from association dues, repair, maintenance, appliances and the works.
- Have units to choose from.It is best to have options, following tip #1, you could already limit your choices. Be open to all styles and architectures.
- Price.Do they offer reasonable prices? Check all other properties that come close to the specifications of your desired unit so that you would have a general idea of how it should worth.
- Location location location. In which part of the neighbourhood do you wish to live? What is your reason in purchasing a condo? For work? Business? Or family? Speaking of location, it is best not to get unit near elevator shafts since it will always cause unnecessary noise in your unit, also choose a unit that is far from the garbage shutes or in areas designated for garbage pick up.
- Security. Aside from the security provided by the building, check the local crime rate. You or your family may not like living in depressed areas.
- Population and Congestion.It may not be a good idea to own a condo where there are too much people and too little facilities. This may lead to unnecessary hassles like the elevators stopping at every floor. Have a general idea of who are your neighbours. Their profile and whether they are tenants or buyers.
- Parking space.Usually condo units cannot provide enough parking space inside the building for all owners, if you’re working it is better to have your parking space inside the building.
- View.I will include this one because having a good view in your unit makes you feel good as an owner and it increases the chances of the unit being sold if ever in the future.
- Reputation.Who made the condo? Check the profile of those who develop the condo. Those who have a good track record would lose everything if they would screw everything up. So if given the option, go with established developers.
- Have everything in black and white. Check thoroughly the contract in buying a condo, check with your attorney, and have it verified with local legislation. Check for gray areas and ask as much questions as possible. Better be safe than sorry.
