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Tips on buying a condo

Location

The location is a primary element that affects the value of any property, and this goes for condo units too. Usually, condo units in the metropolitan area have greater value compared to others that are located far from the city. It will not be surprising that after a year of purchase, the price can appreciate significantly. It is normal to see a 40 % increase within a period of one year.

Also, if you place a greater value on convenience and comfort, then a condo location accessible to work, restaurants and other places you frequently go to is ideal for you.

Condo rules and regulations

2222oiuLiving at Icona Condos you have to abide by the rules and regulations set by all residents. Some condominiums do not allow pets around the compound. So, if you have a puppy, you better see to it that it will not get you in trouble. There are condos which do not allow repainting or any minor changes within the unit. These are just a few of the limitations you might encounter when buying a condo. It is, therefore, essential to understanding the rules and regulations of the compound before closing any deal.

Developer’s reputation

It is wise to research about previous accomplishments of the developer of the condo unit you are eyeing on. This is true if the units are not yet completed and are still in the pre-selling phase. This will give you the certainty that the compound is going to be completed. Likewise, knowing the reputation of the developer will help you evaluate if the unit is worth buying or not. Developers who have established their names produce high-quality properties. You will not have to fear that the building will collapse in just one tremor!

Parking Space

Do you know that parking space is for sale too? It can even cost you thousands. If you have the money, then it will not be a problem. However, if you think the cost will be too much, then there is always a parking space for rent on a monthly basis. It will be wise to ask around to know the going rate.

Association dues

333lkjWhen you live in a condo, most often, you will be required to pay association dues. This fee will cover expenses relating to utilities used in common areas like electricity in standard facilities, a salary of security guards, water for watering the plants within the compound and much more.