Guide to Condo Living

When you purchase a condominium, you are purchasing a home. You are a “unit owner” and this idea might probably be new to you. Truth is, you purchased what you may call “some air space”. This is because, technically, what you bought is the air that is located between the perimeter walls, the ceilings, and the floors. In addition, the “real estate” that you bought and “own” as a tenant is owned in common by all the other tenants and “unit owners”. This comprises the building/s, this time the land that surround the air spaces, equivalent to the undivided percentages that are placed in the condominium declaration.

What is a Neighborhood

Neighborhoods firstly, concern an area. Second, it concerns the people living there. In order to maintain a neighborhood, these two factors must be taken intro consideration. A neighborhood is primarily a reference point, an area referring to a collection of residences.

The Neighborhood and Society

Since time immemorial, man has had to live in harmony with other men. In more contemporary times, because of the housing developments as well as changes in society itself, we term a collective area where people reside as a neighborhood. And according to the kind of neighborhood one lives in greatly influences his development as an individual.

On Residential/ Housing Developments

More and more housing development plans are coming into business. Land development has made it possible for more people to purchase their very own homes in much better places than in the congested city. With such developments, more is expected of the kinds of neighborhoods which one is exposed to.

Before You Buy A Condo : Think!

Storage Space: a very precious and important thing to consider when it comes to condo living. Condo Living comes hand in hand with living “Light” so you may have to throw away unneccessary things to conserve space.

Noise: Noise Control, with lots of people cramped up in one building complex, The Building Complex has a set of rules to abide by. You may have to think twice before cranking up that radio and listen to your favorite tune.

1.    Design and Layout – check the design of the unit and the layout of the floor plan such as rooms, doors, windows. Is the unit in the direct path of the sun? If that’s the case you should consider that in summertime you may spend a bit more energy and money for airconditioning.

2.    Noise – from both inside and outside sources  visit the unit you want to buy at different times because there are times when it so peaceful but check it at weekends or during rush-hour period to see if the noise is bearable or not.

3.    Privacy – We all want our privacy and we must find the perfect unit to help maintain our privacy, check the unit decks and patios to make sure your safe from prying eyes and such.

4.    Security -  Comes hand in hand with Privacy, Is there a security system in the building complex and in the unit, is it properly lit at night Is the unit or building secure and have ample security to deter criminals?

5.    Amenities – Every building has ameneties that are widely available to residents, such as a pool, a hot tub and community room. And always check and ask the buliding management if there are fees for usage and maintennace of these said amenities.

6.    Parking – Which is near an elevator, stairs, or close to your unit. And is properly lit.

Although staying in a condominium would be a good way to start on the road to independent living, it might not be such a great idea for everyone.

Things to consider about staying in a condominium is that there are higher safety risks, considering that you may be living on the top most floor and that at any time natural disasters could strike. Moreover, staying in a condo costs a lot, from the fees to the unit itself. Consider your needs before picking out that condo, it might not be for you after all.

One of the leading reasons why owning a condo attracts many people is because of the fact that it does not include individual land ownership. It is basically full ownership of the unit without the sole responsibility of owning the land. Also, the combined ownership makes facilities existent and free for all and such are the pool halls, gyms, club houses, and the like. Some condominiums also take the liberty of housing small business establishments such as a mini grocery, a bookstore, and eateries so as to give even more convenience so that the tenants wouldn’t have to leave the very building.

Nowadays, condominiums are rising everywhere. This is so because condo living is a great choice for people who are attracted to the idea of owning a property at a fairly inexpensive price and yet, well-situated in the city. Apart from being in a good location, condominiums have many facilities which unit owners can maximize. Another advantage is that tenants only maintain their own units and the care for the garden, hallways, and the lobby is assigned to a housekeeping staff.

Consider your budget. Maintenance fees and other personal needs will be really heavy on the pocket if you stay in a condo.
Check the services and amenities. You should know what you’re paying for.
Always check for safety. Get to know the emergency exits and other safety precautions taken by the condominium.
Check on security. Familiarize yourself with the area where the condo is. Most likely, the more diverse the community is, the higher the price for security measures.
Look up the history of the place. It’s a good way to see if they have improved services.

You have great neighbors, a secure building, and an OK roommate. We’ve been tackling external issues, now let’s deal with you. Here are a couple of things you should do to make the lives of the people living around you better.

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Should you get a “Condominium Consultant”? If you can afford it, yes. A Condo Consultant is extremely familiar with management and management styles of condo projects in your area. They have working knowledge on condo documents, and experience in haggling with Developers, Realtors, Buyers and Sellers of condo units.
Buying a condo is more complex than it seems because not only are you buying a unit, you’re also buying an interest in real estate. This is where the Condo Consultants come in and make it all organized for you. The problem is, since there are very few of them around, they cost a lot. Usually, their pay start at around $350. Don’t worry, it’s better to spend early than regret buying the unit in the end.