Nowadays, more and more people are getting interested in buying condominium units. This is most likely because buying Prince Charles Crescent condo is a good way to get one's first home. On the other hand, it is also one of the alternatives a person can take advantage of when downsizing from a larger home.
While it might be a good idea to buy the said unit immediately, one should first know that living in this unit is different from living in a family house. It is true that you own the space within your unit but the outer structure and the ground which it is built is not yours. Therefore, you have rules to follow, fees to pay, and neighbors to consider.
If you do not want to get stuck with skyrocketing fees, strict rules, or nosy neighbors, then you better ask questions before you go ahead and sign your name on a contract. It is a must for you to understand what it means to purchase the said unit. Here are the questions that you should take into account when you are buying a unit.
First, you better ask a copy of the said condo's bylaws and covenants. It is important for you to inspect it so that you can be sure that you can actually live with their regulations. There are many things you have to know about, such as installing satellite dish, having pets, and other similar concerns for living.
You also have to ask whether the condo complex is managed professionally. There are condo complexes nowadays that are being self-managed. This means that all the decision to hiring the trades people related to the management of the condo is left to the decision of the Homeowner's Association Board.
Ask about the turnover rate among the elected Homeowner's Association Board members. The board members are basically the ones who decide on everything related to living within the complex from the assessment fees to the installation of a unit owner of a canopy over the patio. If the members frequently resign, then there are turmoil existing with the board.
Ask about how many units in this condo complex are owner occupied. It is better for you to get a condo unit at a condo complex with a high number of owner occupied units. This is because the units are kept in good condition compared to rental units. You will have an easier time with the bank when the condo complex has a high owner occupancy too.
Remember to ask the developer about the ownership he or she has with the amenities within the condo complex. It is a must to ask the said question. When the developer retains ownership with amenities like the parking lot or the aquifer, he or she charges rent for it and gradually increase the rate over time.
Ask about the assessments have been levied on the condo owners recently. You also have to know how often the new assessments are being implemented. If the complex is older, you will probably get frequent assessments over things like the roof and other electrical upgrades.
You can visit www.thecrestpcc.com for more helpful information about Questions To Ask When Buying Prince Charles Crescent Condos.
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