CUDDLE YOUR CONDO

A Condominium is a housing compound consisting of parts owned by individuals and general neighborhoods held mutually by all the unit owners. These single units may be refurbished apartments, townhouses or even viable storehouses while the common areas may comprise of hallways, building structure, recreation areas, tennis courts, grounds, elevators, swimming pools, clubhouses, play areas, etc. But the word ‘condominium' refers to the legal agreement. Folks who procure units in a condominium strictly own the whole lot from their innermost walls.

Individual condos, without restraint may be bought and sold, and may also be rented out by their owners. All individual owners become unit owners of the Condominium society which oversees the complex, laying down the policies and monthly sum. The Condominium society may also administer bigger projects concerning the complex, and pull together a particular onetime estimation fees to shell out for these. Moreover, the peripheral walls and roof are indemnified by the condominium union, while all inner walls and objects are covered by the home proprietor.

A homeowners union, comprising of all the members, oversees the common areas generally through a board of directors appointed by the members.The associations may be titled as "Owners Corporation","Condominium Corporation" or "condominium association", etc.

If you are on the hunt for a condo, before you settle for a dream condo here are a few questions whose answers you need to look for before your complete buy out as your bit of homework. Here are a 8 tips that may however be useful while deciding your

1. As you know a condo has regular board meetings with the members,there can be certain things evident from these meetings. If the condo is having management difficulties the people's attitude will sum it all. Also there may be certain other problems that the association has tactfully avoided mentioning Do survey out these.

2. Check out that the money taken from people as repair fund is spent optimally and well used. Check out how it has contributed to the individuals. Also look if the people pay their rent on time to the association.

3. The sharp condo holder will assure his or her private property, along with any supplementary items among the unit that are not insured by the association's document. Seek advice from an expert if required.

4. Speak to a neighboring property based lawyer and get briefed about the laws of the Condo association. Ensure that your association has been consistent with the government rules and regulations.

5. In case housing complex is managed by a group of professionals, check out the organizations efficiency. If you happen to hook up with an inefficient manager then be prepared for nightmares.

6. Confirm out parking and storage space, safety and additional facilities that you have your right to. Check out if the owner has stern limitations concerning your individual likes and dislikes like, keeping pets, etc. Be clear about the terms and conditions.

7. Negotiate the rent and get it fixed now itself.. Seek advice from financers and bankers regarding how to finance your condo if needed as they can help you with handy EMI tips.  

8. Do researches on the general condo prices and also prepare your self with an opinion of the appreciation value, future prices etc.

Deciding the type of lodging can turn out to be agonizing but in case of a condominium it is not so as a condo scores over other forms of accommodation due to countless attractive reasons. The main reason that is evident is the cost benefit ratio compared to a normal home. People who have successfully researched their condos well, before purchasing it have all reasons to smile. The striking feature is that these condos remain long term assets and have an amazing ambience and guarantee a holistic living. Still more advantages of choosing a condominium have been furnished to you in the column below.

1. An inexpensive neighbourhood is what you get in a condo contrasting with a full plot home.

2. Roof replacement, common area maintenance, exterior maintenance, and other expenses are covered by the home owners association setting you free from unforeseen troubles.

3. If you set out for a vacation Lock and leave facility is a pleasure.

4. Any exterior maintenance is not your worry. The association is responsible for it.

5. Numerous condominium societies' tender amenities (pools, play areas, tennis courts, etc.) you may otherwise be unable to meet the expenses of.

6. Condominiums are usually positioned in tactful vicinities that are suitable to hubs of employment and shopping.

7. You like the security of several nearby neighbors.

8. Old couples have a perfect holiday with a lively atmosphere.

So next time you are offered to live in a condo consider that it's a dream come true. No thinking twice as this utopian offer comes up just once in a lifetime. A condominium for sure is what you have been looking for since long and you need to go ahead and get one for yourself. Besides the fact that this is a perfect home you can savour the advantage of future appreciation in value and can possibly be a fat source of profit for you .You can also rent it to gain a steady monthly income. Now I am sure the next thing a smart person will do is to get on his feet and consult a real estate agent. Imagine pampering yourself in the comfort of a condo a few days from now.


Author Bio: Ted Turner is a real estate advisor with special experience on condo and buying a condo