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Discovering the perfect condo for you may be more complex than you anticipate. There are several aspects to take into account. Upgrading your lifestyle to living in a condo is an excellent move — if you get it right.
If you’re looking for the ideal condo for rent, it’s best to consider the following before you book any viewings —
1. Your Lifestyle
Living in a condo is essentially apartment-style life. You’ll have your own living space unit, and then some shared amenities. These can include an outdoor garden area, swimming pool, gyms, etc.
Think about whether condo life is right for you. If you’re on the go, travel a lot, like to go out on the town of an evening, and have no time for things like gardening, then a condo would be superb. It would help if you also don't mind living in proximity to several neighbors.
If you like the outdoors and your personal space, you may find this lifestyle claustrophobic. Be sure to weigh these issues up carefully. It’s simpler and less costly to evade a problem at the outset than to fix it later.
2. Do Thorough Research
The first thing you need to do is find out what’s on the market, and what taking out a lease on a condo entails. There are loads of real estate sites online these days to help you find what you’re looking for. It’s also a great idea to chat with family and friends about their experiences if they live or have lived in a condo.
Ask them what it entails, what areas to look at, where prices are best, etc.
3. Talk to an Expert
It’s also an excellent idea to talk to a real estate professional or two. Ask around for someone who is known to be honest and straightforward in the greater area you want to live.
It’s best to talk to someone who has condo experience specifically. They will know which buildings to look at seriously, and which to avoid.
In real estate, a lot of detail is often kept from prospective renters or owners to close the deal. Avoid this pitfall by gleaning as much knowledge as you can. If you ask the right questions, you’ll get the right answers. An expert can help you do this.
It’s a bit of a cliché, but the location is emphasized for a reason. Make sure the condo you pick is in a good area. Check out the crime statistics for an area you are interested in. Also, are there good schools nearby if you have kids? Are there adequate shopping facilities to cater to your needs?
If a great-looking place is going at a very low price, there may be a reason for that. Be sure to find out what that reason is.
5. Regulations and Costs
Ensure you are well-versed in the regulations regarding condo life, as well as all the costs. If you’re already looking at the higher end of your budget, any hidden levies and fees may come as a nasty surprise. These elements may vary from building to building, so make sure you look into each one you consider.
A board of the HOA makes many condo building decisions. Some people find this system does not suit them, and that the regulations are too restrictive. Ensure you know what you’re in for before signing on the dotted line.
6. Never Take the First One
Even if you adore the first apartment you look at, always look at a few more before committing. By doing your homework, you’ll know if the area is good, the prices fair, and if the place is in optimum condition.
The more you know, the fewer margins there will be for regrets later on.