If you’re interested in buying a condo, there are a few things you should know. The right information will help you determine whether or not this is the right move for you, so it’s important that you weigh the pros and cons of this option before agreeing to anything or signing any documents.
The following guide will help you decide if buying a condo is right for you:
Consider Maintenance Costs
One of the biggest advantages of a condo is that the unit is yours, but you’re not responsible for fixing anything. This means you are a property owner, but you can rely on someone else for repairs and maintenance because it’s not your concern when things fall apart. This does come at a price, of course, so you will have to pay a maintenance fee every month, but this will cover landscaping, roof issues, exterior paint, paving and much more. You will have to rely on the maintenance workers’ timelines for these repairs, and the fee is not cheap, so if you prefer shovelling yourself to save some money, a condo may not be for you.
Consider Condo Association Rules
These rules are in place to keep residents happy while keeping the building clean. Homeowners’ associations will make sure all common areas are clean and will ensure they are in good shape. You’ll also never have to worry about a neighbour playing loud music after a certain time, which is something you’ll appreciate. It is the homeowners association that will have control over landscaping changes or the colour of the building, and every resident will have to abide by these rules. Some people like this lack of control because they feel it is freeing, but others will struggle with this aspect because they’ll want to be in control, so this is something you have to think about before moving into a condo.
Consider The Community
Most condos have pools, tennis courts, gyms and common areas where residents can interact and make friends. Condo living often creates a sense of togetherness, so you will feel part of a community. If you are single or love social interaction, this is perfect for you, but if you love your privacy, condo living may not be ideal.
Consider Your Lifestyle
A high-rise lifestyle is different from what most people think, and you will have the convenience of elevators, so you won’t have to deal with stairs which can be frustrating. While this is great, you will still have to get your groceries and other belongings to your unit, and this can be a challenge for some, so this, too, is something you need to think about.
Whether you’re looking for a house or condo, Cherry Yeung can help. I have access to all of the houses and condos for sale in the Richmond, Burnaby and Vancouver areas and am an experienced real estate agent who cares about her clients. If you’re ready to buy a property and want to work with a reputable realtor, give me a call today!