Whether you are buying a Watten Estate Condominium being a first-time homebuyer, or you are downsizing from a single-family home, there's no question that buying a condo is a large deal. All things considered, it represents not really a big financial investment, but also a huge lifestyle commitment. So assuming we're past that, and assuming you have decided that the condo every day life is the life to suit your needs, here are five what to keep in mind when you search for condos.
- Location. In the event you work for a full time income, where is your working environment? Where will be the things you enjoy, the places you like to go? Where the nearest transit hub? All those are things to ask and answer before deciding which condo to buy. Then take note of all the buildings nearby, and where they're in proximity to the things you value. If you like one condo building, but it's on the other side of town from all you do, then is it really worth buying there?
- Neighbors. Condo buildings often attract folks similar stations in everyday life. While some are specifically for seniors, as an example, it often happens more organically than that. So if you are a young professional buying the initial condo, you might want to make sure that people of your similar age live in the building, too.
- Association fee. The association fee is really a monthly expense that you simply pay on top of your regular mortgage. The amount of money goes to the association that manages the condo unit and will pay for things such as insurance, maintenance and repairs. It also pays for you to definitely access amenities for example pools, fitness rooms, and party rooms. Nevertheless the monthly fee can be hundreds of dollars or more, so you will want to be aware of it before selecting.
- Security. Does your condo building require identification to achieve access? Are there security guards, or even a doorman? A security system? Security camera systems? Knowing the answers to these questions will give you peace of mind if you are in your condo, and many more peace of mind when you're traveling.
- The principles. Your condo association could have certain rules and bylaws where all residents must abide. Be sure you can accept them. They might, for example, prohibit pets on the certain size. In addition they may prohibit sub-leasing your condo, or renting it. Some condo associations may hold sway over ways to paint the interior of your place, and have something to say about the type of window coverings you utilize, or what resides in your deck. Check out the rules before you buy, or you could find yourself in a situation that is lower than desirable for your tastes.