By Meghan Belnap
Condo living can be an amazing experience, especially if you’re new to the real estate market. Condos provide an opportunity for private ownership without a lot of the maintenance associated with single family homes. If you want to own your home, but have a busy schedule, it could be a great option for you.
Related: Looking to Rent a Condo? 4 Factors to Consider in Your Search
Condos can also come with the benefits of amenities and a great location. However, there are drawbacks to any kind of housing you may choose, including issues that come up when you’re living with others under one roof. Here are a few common issues that potential condo owners should take into consideration:
If you’re considering purchasing a condo, remember that there is often ongoing construction happening at all times. This is especially true if you’re in a quickly developing area. If you’re not used to background noise, it can be quite irritating to listen to contractors hammering away all day long. The best way to avoid problems with ongoing construction is to purchase from a developer who has ample contingency funds so they can put things back together if they tear them down.
Additionally, ask your agent about which locations are finished and which are still under development. The condo board will also likely have strict rules about ongoing construction that you should be made aware of before moving in.
Another potential problem associated with condo living is dealing with bothersome neighbors. For example, if you are trying to enjoy your afternoons on your balcony, you could be close enough to hear every word of your neighbors’ conversations. While this won’t always be the case, living in close quarters may cause trouble should a noisy neighbor or family with kids move in.
Before you make the move, check with condo property management about noise regulations. Some condo boards have regulations for acceptable noise levels and curfews throughout common areas and even inside units themselves.
Strict rules can make living in multi-family housing both a confusing and annoying experience. Many new condo owners feel as though they’re constantly under surveillance. They may also feel restricted regarding what kinds of renovations are allowed. It’s important to become familiar with the specific rules of your complex or building to avoid running into problems.
Condo ownership can be an incredibly rewarding experience, but it does present certain challenges not faced by homeowners in single-family houses. Keep these considerations in mind as you navigate the complexities of condo ownership.
Courtesy: http://blog.rismedia.com/Posted by Teri-Lynn Jones on
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