5 Important Things to Consider When Buying a Condo

Rohan Mathew

Updated on:

Most people envision their American Dream with a house for their family and a nice car with a white picket fence. However, the dream has evolved in the 21ss century.

The American Dream has come to involve a litany of things. No longer do you need a house, you can substitute it with other things, an apartment, an RV, or even a condominium.

If you’re looking into buying a condo though, there are some things you should look out for. Here are some tips to consider when searching for that perfect American Dream Condo for you.

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Tips For Buying A Condo

Before the tips, what is a condo anyway? A condominium is a single unit living space that is part of a multiple unity property that can be owned. Think of an apartment that you don’t rent but instead own.

So it comes with certain amenities that an apartment complex would come with, but you own it like a house. However, there is a bit more to it than the house hunting process

  1. Consider Your Lifestyle

The way you live should always be taken into consideration when you are trying to decide on living arrangements.

If dealing with things like cutting grass and trees, cleaning the gutters, or getting rid of that wasp nest in the corner of the roof is offputting to you, then maybe you do need a condo.

Condos are for those who don’t mind an apartment lifestyle because you will have neighbors on all sides of your unit.

  1. Go With Experience

You will want a real estate agent who has experience selling condos. You want someone who you can trust with finding the following Amenities to the best of their abilities.

  1. Make An Amenities List

This is important to where you want your condominium to be and where your trusty realtor comes into play.

What do you want? A gym or a pool? among other things, it is important to discuss with your realtor especially for resale opportunities whether you want these things or not/

  1. Is It FHA Approved?

The FHA, or Federal Housing Administration, has an important role to play when it comes to housing, especially condos.

Condos are under more scrutiny than houses because the property developer/owners can also come under an investigative lense if something is found to be amiss.

The FHA has a list of approved condo complexes on their website that can help though.

  1. Research, Research, And More Research

In conjunction with the previous tips of finding a good realtor and inquiring on the FHA, you should do your research about the management company of the property in question.

You want to see if they have good reviews of their work, or if there have been any discrepancies with things under their control.

When taking the tour you want to be able to ask well-informed questions to see if the place is the right fit for you so you could finally answer the question:

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Are you ready to move into your dream condominium?

Getting Your Dream Condo

Condominiums come with added advantages and disadvantages. Your job (and your realtor’s job) is to find the one that is best for you. Buying a condo isn’t hard, and you deserve the very best.

Go out there and find your American Dream condo. It may not have a picket fence, but it has a nice pool.

For other great articles like this one, be sure to explore the rest of our blog.