5 Things to Consider When You’re Buying a Condo for Sale

 

When you’re looking to buy a new home, you generally consider certain basic things. Is it big enough for you and your family? Is it located in a good area? Is it convenient for your work commute? Are there schools nearby? These questions are pretty basic for all home buyers. But if you’re considering condos for sale rather than a house, you’ll have to consider some additional things.

  1. How old is the building? Often, a building may look like it’s in a good state but it could still be pretty old. This might mean that the heating is a little rusty or the electrical fixtures are outdated. Generally, you won’t have central air-conditioning in an older building and you’ll have to install air-conditioners in each room that you want them in. This doesn’t necessarily mean that you should not buy a condo in an old building, but just keep in mind that it might be a bit of a fixer-upper.
  2. How many of the condo owners live in the building? If you’re looking to get approved for a mortgage, this is going to be one of the questions on the condo questionnaire. It looks good on the mortgage application if many of the condo owners actually live in the building rather than renting it out. It’s also good if not too many units are owned by the same person.
  3. Can you bring pets? If you own a house, you make your own rules about pets. But if you’re buying a condo, you can’t necessarily take this for granted. So if you have pets or plan on getting some, find out if it’s allowed in the building you’re planning to buy in.
  4. Is there a washer-dryer in the building? You’d be surprised how many buildings in good locations don’t have laundry rooms within the building or laundromats close by. This is not a deal-breaker, of course, because it is possible to install a washer-dryer in your own bathroom. However, the process can be labor-intensive, especially when you factor in the amount of upkeep this will require.
  5. Will you be happy there? This is, of course, the most basic question that anyone looking to buy a home should ask themselves. From a practical viewpoint, a home might seem ideal. And other people might also tell you that it’s ideal. However, do you feel, in your heart of hearts, that this is the place for you? If so, then don’t let it pass you by. But if you’re hesitant to commit, you might want to ask yourself what you’re looking for in a home that this place doesn’t have.

So if you’re thinking about buying a condo, make sure you consider the above points. Contact us for more information and listings.

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