5 Things To Consider Before Buying A Condo

When the time comes to buy a new home, you may consider buying a condo rather than a townhouse or stand alone home. A condo can offer conveniences and be more affordable than purchasing a Townhome or a single family home. Still, there are some differences to consider, five are listed below.

Don’t Rush To A Decision Take your time to look at the building and be sure to look over the condo papers. If many condo units are for sale, it may signal a high level of discontent with the building or living conditions. After careful consideration you may decide that it has everything you are looking for in a home with the added convenience of reduced maintenance and a network of new friends.

You Don’t Own The Land A condo is a building consisting of multiple units individually owned by different owners and the condo owners do not have title to the land upon which the structure is built. Each owner contributes to the upkeep of the exterior structure and common areas and shared amenities.

Condos Offer Convenience For the homebuyer the  advantages can be many and  in some built up neighborhoods it can be the only available option. They could also provide the most practical choice given their close proximity to shopping centers, restaurants,  transportation or work. Condo complexes also may offer amenities you may not otherwise be able to afford if you purchase a townhouse or stand alone house such as pools, play areas or tennis courts. Also, it relieves you of the need to manage building maintenance and amenities freeing up more time to enjoy those within your building. Some interior issues such as plumbing and/or electrical may also be taken care of by the complex community association.

Built in Social Network Socially it can be a bonus with neighbors in such close proximity as it provides a great way to meet new people. Sharing walls and building access with neighbors can be a drawback as they hear your conversation or music playing. They also can watch your movements and others make while visiting your condo unit so check to be sure the residents are friendly and people you might be able to get along well with.

Calculate Costs Condos are usually cheaper than townhouse or stand alone homes as they maximize space with many condos built on a single piece of land. However, in declining markets they may be difficult to sell if the condo board is difficult to deal with or fees are too high.

If you need help with your new condo, be sure to call the best condo document review Calgary company.