Who doesn’t want to provide great accommodation amenities to his or her family and increase their standard of living? By considering this factor and several others in mind, most of the working individuals prefer to invest their hard-earned money in buying a condominium situated at the heart of the city. A condominium is considered as an excellent property investment instead of buying a house or an apartment.
Things to consider before you purchase your first condominium
Total units which are sold
Before you buy a condominium, it is very important to acknowledge the total units which have been sold by the developers. This will give you an idea about the total potential of the project and can even predict whether it will give you great ROI in the future or not.
See the condominiums beforehand
Most of the townships offer showflat services so that you can have a look of the condo that you will get. Parc Canberra Showflat is a genuine service on behalf of the developers which give buyers an idea about how their condo would look from the inside. When you take showflat service, do ask for price quotation and discounts which are offered by developers. In most of the cases, this service is free of cost and you will also be informed about the finances which you can acquire while purchasing the condo.
Listed units in MLS
In most of the cases, condo owners tend to hide condominiums which are listed on MLS status. It is very essential to acknowledge the true figure. In reality, only 7% to 8% of units are marked by developers under the MLS status. This figure will give you a genuine idea about how many units and what type of flooring still needs to get sold.
Talk to the residents
Yes, this is a brilliant step to take before making the down payment for the condo unit. If it’s possible then do talk to the people who are living in the condominiums as they will be able to tell you the real experience. You will be able to acknowledge the policies which are formulated by the Home Owners Association. The rules and regulations which are set around the premises and several amenities which residents get.
Have a look at the price sheet
When you visit for a showflat facility then do ask for the price sheet for different condominiums, This will not only give you a clear idea about the pricing but you can also see if there are any hidden prices or not. It is very essential to acknowledge such pricings beforehand as it will save you from nuisance in future.
Leasing and re-selling a condo
Most of the condo owners also put their property on a lease when they move to some other place. This endeavor is considered very fruitful as it increases their source of income. You are required to directly ask the representatives of condo showflat whether you will be able to undertake such endeavor or not and what is the criteria to fulfill it. Moreover, you should also seek the parameters of re-sale certificate which you have to acquire if in case you plan to sell your place in the future.