Guide to Condo Living

Dues in their many forms in shapes in a condo ownership may seem steep but considering the amount you’d have to pay for tearing down the old chimneys may sound reasonable. Besides, the convenience and additional amenities you may get when you purchased the unit does need upkeep and so does the grounds in and around the condo facility. The tennis courts, swimming pools, landscaping and other up-keep needs are shared among all unit owners and other issues such as complaints are also handled in the same manner. Meetings of unit owners and information leaflets keep residents informed of the goes in the building as well as reports regarding safety and coordination with law enforcement. In meetings, be sure to question all your doubts for there is a need to do so. Some condos let facilities such as function rooms out for rent to friends and affiliates of owners and the money they get from these rentals also get into the up-keep of the building. There is also a security issue with it being a necessity for most areas. Don’t be scared of dues for they are for your benefit as well as for the whole condo community.

House prices are at their lowest but couples without children who cannot afford single housing units can get condos for their meager earnings if they choose to. Single housing units are quite steeply priced and even with today’s rock-bottom prices, still out of reach of most. Purchasing condos would have you and your spouse taking out a mortgage (which most of us have to do) as you would with single housing units from lenders (usually banks and other lending institutions). Your ability to get your mortgage depends greatly on your credit history and sometimes with your relation to the financial institution you are taking the mortgage out from. If you have good credit ratings, which simply means you get to pay most if not all of your bills on time, then the mortgage is yours. Be frank with the lending institution so you get down and honest with them. If they discover anything wrong with your credit history that you just happened to leave out of your documentation, you’re in deep trouble.

Condos are suited for those individuals who enjoy company and won’t mind the occasional noise form the neighbors when they do party. Condominiums being a closed housing unit is quite strict when it comes to noise pollution so do check the contract for any phrases that state such. For people who love privacy and the right to do whatever they wish during anytime of the day, well stay away from them for there can be sacrifices in terms of privacy in condos. You do get to party but they are bound by certain rules and regulations all the unit owners abide by. One of the best things about condos is their convenient locations sometimes in the middle of metro areas meaning you don’t get to spend much to go to work and other places. If you spend most of your time at work and out of the house, condos and apartments are the best options.

If you have a car and love it, then you should look into parking options when you do decide to look around for condos for as everything is in the big city, space is a premium. Most condos have ample parking for all their tenants with a slot reserved for you with your unit number that you can use as long as you have a contract with the building. May you be renting or buying, it would be a good idea to be sure of parking options especially if you own quite a car. Having guests would be quite difficult though for most condo’s rarely have too much parking space and the most popular ones are almost full to capacity. Public pay parking on the streets and on parking structures would be a better option for security and safety when the weather threatens. Check out all options should you have no reserved slots and if you like inviting guests try to consider them too.

One of the first things you might notice about condos is that they mostly do not allow grilling and other activities that may annoy other residents. Remember, you’re living in a joint space that has several units stacked one over the other and side by side so anything you do may affect your neighbors. That may be one of the things you’d just have to do without for grilling on the patio is out of the question and could get you a petition from your neighbors in no time. Try using those stove-top grillers that does not produce as much smoke. There are even ones that allow you to grill without direct flames where a cover placed above the flame sends the heat towards food cooking it as if it were grilled over the barbecue.

The first thing you notice about a condo is the space—or in a better term, the lack of space.

Condo unit owners or renters cannot place large appliances and furnitures in these tight places. They also require them to be as silent as possible, since they’ll be sleeping next to it. Besides, bigger is not always better.

“People are not equating space with luxury anymore. It’s becoming more about convenience and comfort - that’s why you are seeing quieter dishwashers, even in the lower-end condos, so people can run them and also watch TV or go to bed and not be bothered by the noise.”

With the increase of condo users, manufacturers have decided to make appliances that will fit in a condo unit. The challenge is how to make them as effective as their large counterparts but smaller.

If you own a car and you’re looking for a condo, it would be best, if you first check if the condo you’re buying will suit your “parking taste.”

There are three types of parking in a condominium:

• Tilted Parking Space: It’s a space with the owner’s name on it. The owner can do what ever they want with it as long as its in within the boundaries of the Condo rules.
• Leased Parking Stalls: These are spaces leased to you for a period. It usually comes with documents stating that you have exclusive use to the space as long as you’re in the unit.
• Assigned Parking Space: It offers condo residents no say on how long the stall is theirs. It’s in discretion of the board of the condos.

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People with pets sometimes would rent a sub-standard apartment or condo just to make sure that their beloved are with them. There was a time that pets were an absolute no-no in all condos, but times have changed. Most villa and townhouse condos allow pets more than the high-rise ones.

Most now allow small pets, with strong and strict rules. Here are some examples of rules regarding pets:

• Pets are limited to 10 kgs., each
• A maximum of two pets are allowed
• Pets should be hand-leashed when in the common area
• Pets needs to be hand-carried through the lobby, halls, and elevators

Before signing everything, you have to read those Condo documents. They don’t just make those things for nothing you know. 

Although to some, reading it may be a chore, especially if you’re uber excited in owning the unit. For example, if you see “no pets” or “no one under the age of 18”, but you have a pet Python and a month-old child, then the condo unit is just not for you. 

If the document has a lot of legal stuff in it, please consult your lawyer, or (better still) a condo consultant. He or she knows a lot of how these bylaws can be translated to layman English. 

If you’re worried that your condo fee is getting higher every month or so. Don’t fret, it means that the Condo Corporation cares about the well beings of their residents.

Condo fees are actually contributions, and therefore necessary. It’s way where everyone pools in together to cover common area expenses. There are three types of increases:

1. Energy Costs: example is using the heating system can be quite expensive or even electricity to light the hallways.

2. Personal Furnace Costs: If you have one, the gas company will definitely bill you on this one.

3. Reserve Funding: It’s a way to ensure that the condo has enough money if anything drastic happens such as a typhoon, or blizzard occurs.