Parking will be a big issue for those who have vehicles. So if you have one and you’re looking for a condo unit, you need to be acquainted with the three types of parking in a condo setting.
There are three types of parking in a condominium:
Condo units are small compared to houses, therefore don’t think about putting the same appliances in them. So that large fridge will need to be sold off and that big closet needs to go before you move in. Hopefully, you’ll have enough money to buy new, smaller appliances.
Condo unit owners or renters cannot place large appliances and furnitures in these tight places. They also require them to be as silent as possible, since they’ll be sleeping next to it. Besides, bigger is not always better.
“People are not equating space with luxury anymore. It’s becoming more about convenience and comfort – that’s why you are seeing quieter dishwashers, even in the lower-end condos, so people can run them and also watch TV or go to bed and not be bothered by the noise.”
With the increase of condo users, manufacturers have decided to make appliances that will fit in a condo unit. The challenge is how to make them as effective as their large counterparts but smaller.
If people think owning a condo is expensive, think again. According to a condominium-specialist realtor, a good benchmark for operating costs or “housing fees” should be 30 cents a month per square foot of private property.
So where does those fees go to? The landowner’s pockets? No, they go to a lot of things: building maintenance, landscaping, waste removal, legal fees incurred by a condo board—in short it’s for the betterment of the condo and its owners.
“There are certain responsibilities a corporation has to maintain — whether it’s the exterior of the building, amenity rooms and, in some cases, betterment to the property and (condo fees) can also include paying a management company looking after things.”
If you think that the grass mows itself, or the heater repairs itself, then you better think again The maintenance of the condo building isn’t done by one person.
The group who pays for all those things are the financial entity known as the condominium corporation. This group is made up of a board of directors run by the unit owners. They ensure that the building and grounds are well-maintained and that all owners follow the bylaws.
So if you’re looking around for a condo, do look for the corporation’s monthly financial statements and Reserve Fund Study. Both provide a wealth of info on how the building is cared for.
If you’re thinking of buying or renting a condo unit, then I suggest you get a Condominium consultant. This person has been in the trenches when it comes to dealing with condo documents, and experience in haggling with Developers, Realtors, Buyers and Sellers of condo units.
Buying a condo is more complex than it seems because not only are you buying a unit, you’re also buying an interest in real estate. This is where the Condo Consultants come in and make it all organized for you.
The problem is, since there are very few of them around, they cost a lot. Usually, their pay start at around $350. Don’t worry, it’s better to spend early than regret buying the unit in the end.
Second home buyers are decreasing and the market for that niche is slowing down. However, condo buying or renting went down just a tad bit.
A new National Association of Realtors study estimates that sales of vacation homes in 2007 fell 31 percent, to 740,000, from 2006. But sales of condos dipped only slightly—down 2.8 percent—while sales of detached homes dropped 38 percent.
The good news is that there was a 8 percent increase from 2006.
Why does a condo sell well? Lister below are the reasons:
So what are you waiting for? See your nearest Condo seller.
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