glendale real estate listings | Questions to ask before investing a condominium

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Questions to ask before investing a condominium
Condominium living is gaining in popularity
these days and this is especially true with
Glendale real estate. The idea of living in a
desirable location with desirable attributes,
such as affordable housing and low maintenance
along with the enhanced security features is
appealing to those buyers that opt to invest in a
condominium. However, investing in a Glendale
condominium is not an easy matter. There are a
lot of tasks that need to be considered before
decisions are made. If you are thinking of
investing in a condominium heres a checklist of
questions to ask before investing  a condominium.
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Plans
Are you planning on living in a condominium, rent
it out, or re-sell it? How many units are you
going to invest and how many rooms? These things
are worth looking into in choosing the condo that
is right for you or your family. It is also
important to decide on whether you are going to
live in high rise or low rise building. Beyond
the amazing city view, determine if there is a
family member that has fear of heights so youll
be guided appropriately.
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Affordability
How much will you be willing to invest in a
condominium? What other fees will be incorporated
in the ownership of a condominium? Most
developers have association fees to maintain and
other recurring costs. Make sure you understand
you tax obligation on your unit and how it is
computed. Most importantly is to understand the
current financials of the Home Owner Association
(HOA) as moving into a condo that is about to
demand assessments for maintenance, etc., is a
surprise you dont need.
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Desirable Location
How accessible is the condo to schools, offices
and other conveniences? Nowadays, people are
opting to invest in a condominium for proximity
to these conveniences, so it is important to
choose a condo that is close to the places you
frequently want to frequent. There are also
mixed-use condominiums that are partially
residential and commercial providing many of the
wants and needs you may need in the same building.
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Rules and Restrictions
Every condominium is governed by its rules and
restrictions set for its residents. These may be
very strict or relaxed. These are necessary to
ensure that condominiums are properly operated
and maintained. How are repairs and renovations
processed? Or is alteration of the unit space and
appearance allowed? Are pets allowed? How many
occupants are allowed in your unit? Know all the
covenants and restrictions of your HOA because
this is what youre signing up for and what
youre going to live with for the duration of
your ownership of your unit.
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Neighborhood
Condominiums can be a complete community within
one complex offering a wide range of social and
recreational activities. Before choosing the
right condo for you, consider the target market
of the condominium. Many condominiums are
especially suited for a certain lifestyle, such
as young professionals and families with young
children and some are age restricted. Some of the
condominiums have commercial establishments on
the ground floor and it may not be suitable to
your lifestyle.
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Available Amenities
What are the amenities offered by the
condominium? Will they be of use to you? Most
condominiums offer a variety of amenities so pick
one with amenities that are of use to you such as
parking space, concierge service or a gym that
may compliment your lifestyle. For those with
kids, one with a swimming pool and playground is
a good pick. You also need to consider the track
record of the real estate developer. Further,
there are many real estate agents and other
professionals available that will be able to
assist you along the way. A skilled and
trustworthy real estate agent that understands
condominiums and HOAs can help you save time,
energy, and money. Once you have answered the
questions you need to consider in investing in a
condominium and your REALTOR has answered your
questions you can pursue your purchase with peace
of mind and enjoy your new abode. If your choice
in Glendale real estate includes a condominium or
a luxury valley home, give us a call or email us.
Glendale real estate is our full time business
and our Luxury Valley Homes team is here to help
you with your real estate requirements.