There is no doubt that home ownership is the dream of almost everybody. As much as the journey to home ownership may seem expensive and complicated, it is very much easy with the right tips. To be able to be successful, you have to have a proper plan. Finances are what set back most people but with the right strategy of budget, it is much simplified.
There are many options that you can take to home ownership. There are mortgages which are growing in popularity, there is buying with cash, there are many other ways. There are different paths that one can take to home ownership; some include first going for temporary homes such as condos as you plan on getting a proper home. Other than finances, there are also factors that you have to look at when looking for a home. If you are settling for a condo, some of the factors to consider when looking for one include:
This is one of the most important factors to consider when looking for a condo. Different people have different preferences when it comes to their preferred location. Since it is highly unlikely that you will live in your condo forever, it is good to think of the resale value. Some areas have high resale values than others. You should therefore check for a neighborhood that is on ether upswing and there are developments in the area.
Of course we would all want convenience when it comes to home. In choosing a condo therefore, we should also consider amenities that are offered. Amenities to check include the parking lots available, building amenities such as swimming pools, gyms, and party rooms among many others. It is however important to keep in mind that the more the amenities you are likely to get, the higher the cost you are likely to incur.
When it comes to condos, they all have different rules hence do not have the same kind of freedom as compared to home ownership. Most condos have restrictions that you have to adhere to. For instance there are some condos that have pet restrictions. You should therefore check on the rules prior to make sure that they are friendly according to you.
If you do not have enough money in your reserve funds, there are chances that your condo fees may skyrocket. You should therefore ensure that you have enough money in your reserve funds. The money in the reserve fund is one that is used to cater for capital expenses such as repairs and improvements. To make sure that you have enough money in your reserve fund, you can consult a real estate lawyer to check the status certificate.
Size of the condo
Condos come in different sizes and it is important to make sure that it is the right size for your household. It is good to check the square footage and confirm if your furniture will fit in well.
There are many real estate companies that are doing great condos such as Reimagine Galleria that are worth checking out.