Factors to Consider When Buying a Condo

For the ultimate urban lifestyle, condos are some of the most valued pieces of residential real estate. However, buying one isn’t as simple as looking up condos and choosing the most affordable, or the one closest to your workplace or place of business. Instead, it takes some careful planning, and taking into consideration factors like:

 

Location

Consider the proximity of your prospective condo to your workplace, as well as to other amenities and utilities that you’ll need. For example, you could significantly cut down on your expenditures if you only have to walk to the nearest coffee shop or supermarket instead of having no other choice but to drive there.

Fees

Look at all the fees that you’ll have to pay for your condo. If you can afford to live without too much extravagance, you might want to look for buildings without luxury amenities like pools. Visit your prospective condo’s management office to get a complete list of the things that you’ll be paying for on a monthly basis, such as administrative fees that might turn out to be too steep for your budget.

Community

Being comfortable with your neighbors and building administrators is a great benefit to your condo lifestyle, so don’t underestimate its importance. Go around the building and look for neighbors whom you think you could relate to or be friends with (for instance, if you will be living there with your family, look for other families in the building).