The Condominium Lifestyle - Could it be Best for you? - 6 Things To Keep In Mind
More often than not the number one driving force for purchasing or not purchasing a condominium is price. The buying price of a condominium vs the price of a detached home as a reason to buy and the cost of maintenance fees a reason to not buy.
Both of these are essential factors that needs to be considered, but should never be the sole foundation of your decision. In fact over the long-term neither of those considerations may be as important as the life-style that you are buying and unfortunately the condominium lifestyle is often never even discussed.
It's think about transfer to a brand new neighbourhood, and all sorts of that that entails, but it is quite one more thing fitting in to the condominium lifestyle. A lifestyle that's, quite frankly, not for everyone. Here are a few things you may just be thinking about.
The guidelines: Condominium complexes tend to be more than bricks and mortar, they're social entities. And like any social organization they have structures, standards and rules. For many this can be a comfort, for a lot of they are they of little concern, but for some they present a considerable challenge. Nearly all may have rules concerning the pets you are able to own, what you can put on your balcony and the colour of the door. Many will prohibit any kind of home-based businesses yet others may put limits on the numbers of guests you can have as well as their length of stay.
The bottom line is be sure to study the covenants, restrictions and bylaws from the complex your thinking about. Be sure you understand them by all means be sure you are able and prepared to follow them. Ignoring them can get you in big trouble.
Security and privacy: Personal security and privacy in many cases are cited as reasons for selecting a condominium. For a lot of, particularly those living alone, the safety features available give peace of mind. Privacy on the other hand could be both a positive and a negative. You will get a certain about of privacy in the public by living in a condominium, but often give up absolute privacy because of the closeness of the neighbours.
Repairs and Maintenance: Perhaps probably the most popular reasons for picking out a condominium on the detached home is the perception that they're maintenance free and to a large extent they are. Not all of us possess the talent, time and taste for do it yourself home maintenance.
Private yards and garden: Apart from some townhouses you will not find much, contrary, in the way of yard space in condominium complexes. And if you're an avid gardener or back-yard entertainer you may be disappointed. Be sure you think carefully about this. If you do not think living with no garden is one thing for you personally maybe the condominium lifestyle isn't for you personally either.
Space: Space especially storage space is often an issue for condo owners. Some condos will have storage lockers and amble in unit storage, but often space is tight and also at reasonably limited. Remember renting an industrial storage locker is always an option, but in an additional cost.
Amenities: Condominium projects, especially luxury ones, can offer a range of amenities for example saunas, libraries, pools and gyms. Some even offer on-site restaurants, shopping and concierge services, but each one of these amenities come with a cost. So be sure that you can both afford and employ them. A subscription inside a private golf club might just the thing for a golfer but simply a costly symbol of status for any duffer much like me.
So remember if buying a condominium appears like a viable option for you personally remember. After the day it will usually have more details on lifestyle than money.
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