Before buying a condo, there are some things you need to look into. Don’t rely on advertisements or other people telling you that a property is great. You have to go and see for yourself.
A condo is an investment. Whatever purpose you have in buying it, be sure that it’s a lasting investment.
Here’s what you should look for in a Condo:
1. Location
Location is one of the most important factors when buying a condo unit. Whether you are buying the condo as a home for your family, for lease, or for future use, location is vital.
First, you can’t change property locations. While you have a hand in changing everything about your unit, your condo stays right where it is.
Second, location determines your access to important places which will eventually save you time, energy, and money.
Accessibility
Condo living is about convenience and saving time. You would want your home to be near the places you frequent. Consider it a good location if it gives you easy access to your workplace, school, grocery, health facility, church, restaurants, and other places that you and your family love to visit.
Access to different public transportation options makes the location of your condo ideal. Traveling to and from work or school takes a significant amount of time from your daily schedule even if you own a vehicle. So it is advantageous if you have a choice to ride other modes of transportation which can save you time.
Also, being able to walk or run to places like the grocery during rush hours makes a location great.
Neighborhood
Condo living doesn’t end in the four corners of your unit. You have a community within the property development and the neighborhood in the area to consider.
When you’re looking at a particular condo, check it out at different times of the day and night. Observe the neighborhood surrounding it. It will tell you about the lifestyle and the cost of living in the area.
The look and vibe of the neighborhood may be a personal preference. But generally, a neighborhood that has entertainment centers, good schools, parks, and open spaces tells you that the location is great.
2. Amenities and Facilities
A good condo should offer the amenities and facilities you need for your comfort and relaxation. As they say, the advantage of living in a condo is that everything you’ll need is just outside your doorstep.
Amenities such as balconies, concierge services, and power generators are common in condominiums. At the same time, a good property would have facilities like gyms and fitness centers, multi-sports courts, pools, function rooms, clubhouses, playgrounds, and open spaces.
3. Security
One of the selling features of condominiums is the safety and security of residents. You don’t just buy a condominium unit, you are also buying your peace of mind.
Though there is no guarantee that crimes won’t happen on the property, a condo with strict safety and security protocols is reassuring that you’d be going home to a safe and secure environment.
24-hour Security
When you’re inside the comfort of your home, you want to feel safe and secure. Look for properties that put in place strict security and safety measures.
Condos usually provide 24-hour security to the property. The property is desirable if condominium gates and premises are manned by Security Guards and there are roving guards who patrol the premises 24/7. This deters criminals which also means a good level of security for residents.
Also, check if the condo has receptionists in the lobby and observe how visitors enter and exit the property.
Security Cameras, Alarm Systems
Other things you would want to look into are Security Cameras installed in common and public areas. You can ask the Property Manager which areas on the premises are covered by the cameras.
Ask if there are options for security in the units. Also, see if the unit you’re eyeing has smoke detectors as well as alarm and intercom systems installed.
In addition, innovative technology such as smart locks and mobile app instant payment and tracking systems are nice to have add-ons in condos. These devices will give you peace of mind whether you are at home or away from home.
4. Unit
Like any other property, your condo unit should meet your standards. Consider your lifestyle, taste, and peculiarities. Will you live there alone or with your family? The layout and size of your condo depend upon these requirements.
Generally, condos have studio-type, bedroom-type, and loft-type units. Condos come in different sizes as well. It can be a small studio for one or two people or a spacious three-bedroom unit for more people.
Noise
Noise is a common problem in condos as residents share spaces between walls. If you are sensitive to sound, consider condominiums with a good level of sound control and those that are sound-proofed. You may also choose the top floor unit.
The location of your desired unit in the condo is important. Would you prefer one near the elevator or the fire exit? Also, you may have other considerations such as the location of the beams or walls in your unit.
To come up with a better decision, schedule a condo tour to see the layout and size of the unit.
5. Developer
If you want to be assured that you’re buying a structurally sound property, go for developers who have a good reputation in the industry. These developers have proven and tested projects and a good track record.
Choosing a reputable and trustworthy property developer is vital because you want to get what your money’s worth. Who would want to buy a condo unit that will cause headaches after turnover?
Check the past projects of the developer. Talk to unit owners about their projects. Were the units turned over on time? Did they encounter any problems? Are they satisfied with their units?
The bottom line
Before buying a condo, be sure to do your homework. Research, compare, and check out everything. Visit the area as many times as possible. Condominium units don’t come cheap so they better be worth your hard-earned money.