Your Practical Guide to Purchasing Your First Condo Unit

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Do you always feel anxious because it seems like your bedroom is more like a prison cell than a place of sanctuary? Or perhaps you are already fed up hurting yourself by always bumping on tight corners each time you move around your condo unit. Or maybe you finally decided to go live on your own, move out of your folks’ house, and resort to the popular condo living lifestyle.

Whichever it is, all signs lead to one thing – you need to get a better place. For some, getting a new condominium unit is somewhat frightening and exciting at the same time. The thought of being independent is surely giving you chills down your spine. So to help you walk through the pain of purchasing your dream condo unit, here are some of the things that you must consider to be successful in doing so.

 

The Price Should Be Right

price of condo

Photo courtesy of Rob Boudon via Flickr

Nowadays, owning a condo unit became relatively pricey due to what economists fondly refer to as inflation. And it is also a given fact that condo units are smaller than stand-alone houses or townhouses. So before buying that unit you’ve always dreamed of, you must make sure that every penny you give out is worthy of all the perks that your condominium has to offer.

For instance, consider looking at the overall architecture of the building. A good condominium must not only appeal to its residents but also sustain that attraction. You should remember that you will be living the next 30 to 50 years of your life in that place, and having eyesore should be the least of your worries.

You should also thoroughly inspect the structure of your unit. Be on the lookout for accident-prone areas, such as the edges of your unit. It must be kid-friendly at the same time, most especially if you are planning to raise a family there. See if windows are placed safely which should not be within children’s reach. But more importantly, check if there is enough room for doing recreation and other leisure-oriented activities.

 

Security and Privacy

condo security

Photo courtesy of Whiskeygonebad via Flickr

Another thing you should check is the condominium’s security. Nobody would like to live in a place of turmoil. See if security guards patrol the vicinity around the clock. This should put you at ease and give you assurance that your well-being is their top-priority.

Closely related to the aspect of security is the residents’ privacy. As a potential condo unit resident, you must ensure that your right to a calm, relaxed, and private environment is recognized.

 

Am I in the Right Spot?

location of your condo

Photo courtesy of caseorganic via Flickr

This is actually one essential detail most condo buyers easily disregard. Before you decide buying a condo unit, be mindful of the surroundings outside the confines of your condominium building. For one, look if the outside neighborhood radiates safety and decency. Yes, you are safe inside the condo’s premises but surely you cannot lock yourself inside it forever. You will need to go someplace else, say to school or work.

You should also check if there is a nearby wet market around your condo’s area. With left and right price hikes, you definitely should consider cheaper and more affordable commodities. See if there are churches and hospitals around your condo’s vicinity. And if you are with children, be on the lookout for a good educational institution.

 

Car Park

Now if you do not own a car, then this wouldn’t be a problem at all. But for those potential condo buyers who have more than one car, then you should really consider this. Since most condominiums have only sufficient space left for parking, they sell the space on a first come, first served basis.

 

Your Personal Air Space

condo environment

Photo courtesy of 55Laney69 via Flickr

For potential buyers, one thing you must carefully think through before buying a condo unit is the fact that you will not own a land. Instead, what you are buying is the air space where your unit is situated. To put it more candidly, condo owners do not hold title to the land on which the building sits. This should be a major aspect that you should consider. What you can do is to ask for legal or professional advice about this.

 

Living the Suite Life

Living in a condominium has its own perks, too. For one, residents have the sole privilege of using the various facilities and amenities that the condo offers. Your family can enjoy doing picnics in the park or go swimming in the clubhouse. There is also an activity hall where you can hold parties for various occasions. Some condominiums even have cafes, gym, basketball and badminton courts, and other recreational facilities intended to meet the residents’ interests.

Aside from these, condo living wouldn’t be fruitful without the occasional socialization with your fellow residents. This is a good opportunity to expand your network and establish a good relationship with others.

 

Sign with an Educated Decision

condo agent

Photo courtesy of MarkMoz12 via Flickr

Now before you get that pen and sign that contract, please make sure that you are wholehearted about it. Do your research first, may it be through browsing the internet or other means. You could also ask your friends, who are condo owners, for advice. See to it that you are fully aware of the deal you are about to get into. Once you are done thinking things through, then it is time for you to finally get your own condo unit.

Living on your own is a tough, scary decision to make. But getting that place you can call your home is tougher. Make sure to remember everything we have listed here. Good luck on your condo hunt!

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