There are a lot of beautiful condo's being built now and don't they look amazing. They have so many amenities and they offer a lot of conveniences to make your life easier. Buying a condo can be a good decision, it's smaller in size which makes it much easier to take care of and you don't have a yard to manage as well. Condos hold a lot of freedom when it comes to most chores, which is one of the main reasons you want to buy one isn't it?
Even though you may think it's an easier lifestyle because of this, you may be surprised that it just may not be that perfect solution you're looking for.
There are a few things you really should consider before you buy a condo. The first is always the finances. There are usually the condo fees which could rise at any given time, the taxes; parking may be extra as well. Not to mention hydro, condo's run on electric heat which goes up in price just about every year.
We should really talk about lifestyle next. Are you all right with living in what is an apartment with people on either side of you, above and below you too? Do you love to play your music or watch your big screen TV with the surround system on? Your neighbors aren't going to be very friendly to you if you do. You do have to be much more aware of noises that you create.
Are you all right with heights? If you have issues with stairs for any number of health reasons you would want to consider buying something suited to your capability if the elevators don't work. Most elderly people don't want the main floor either for safety reasons.
How does the condo board feel about pets and once again, height may be an issue if you have to take your pet out in a hurry to do its job.
We love when the weather gets warmer and we can start to use our BBQ's again, do you love to cook on a BBQ? Most if not all condos, unfortunately, won't allow you to have a BBQ on your balcony anymore. Would you miss that option?
If you are downsizing and not buying for the first time, you really need to think about space. Will that gorgeous overstuffed couch fit in the living room? You may not know this, but the developer will often say the rooms are one size when they are actually smaller. This is because they've measured from the blueprints, which does not take into consideration the finished product with the drywall or tile in place. Those few inches can add up in smaller spaces.
The downsizing project alone, if you are indeed downsizing, can be a huge job. Be prepared for any added expense when it comes to that. I've written an article about downsizing you may want to read as well.
The storage lockers are normally quite small and if you have a lot of tools or are outdoors people with bikes, skis, or camping equipment, you may have to rent an offsite storage unit as well.
Most of the issues you'll have to face are space related. If you're like most people you like to have your own area of the home that is yours. It could be for working on hobbies, another room to watch the programs you like or a home office. Consider your lifestyle now and what you would be willing to compromise on and what you won't before you decide condo life is for you.
Saving for the future is important when you buy a condo there are many other fees that need to be considered. Make sure you find out what they are and when you're working on your budget, include saving for your retirement or traveling if that's important to you. Will you be able to do that?
There are a lot of people that buy a condo because they feel they will not be as lonely because there are a lot of people in the same building. But that isn't usually the case. Most people in buildings take the elevator and don't speak to the people that are right beside them. It takes more effort to reach out and connect with the people you see. Often if there is a park like setting around the building and you can meet new people there. You may want to think about the social aspect and is the condo built to encourage social activities.
I'm not trying to discourage you from buying a condo. They are a good solution for someone that is looking for a smaller space. When you work in the city centre there isn't always a lot of other options for you these days. Some buildings have a lot of restrictions that you need to be aware of.
What I want you to do before you decide to buy a condo is to consider all of the aspects around that decision before you buy. I have been in the Real Estate field a long time and with the experience I have, it would be in your best interest to really consider the lifestyle and financial choice of buying a condo. If you've been thinking of a condo and just aren't sure what is involved in buying one, then I'd be happy to go through everything you need to consider before you buy.
If you're considering buying a condo, Diane would be more than happy to walk you through the in's and out's of condo ownership. Call Diane for more information 613-863-7449.