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الخميس، 5 يونيو 2014
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.
However, one should remember that living in a condominium unit is a lot different from living in a single-family house. While you own the living space within the unit you availed, the outer structure of the said condominium as well as the ground on which it was built is not yours. You have to follow rules, pay monthly fees, and consider your neighbors.
In order for you to avoid regretting your decision of purchasing this unit, then you should ask first some questions before you event think about seeing the contract. This is so that you will have an idea on what living on the said apartment is like. Here are a few questions that must be asked before you actually go ahead with the purchase of this condominium unit.
First, it is only natural for you to get a copy of the bylaws and covenants that cover the living in the said condominium. Be sure to inspect it thoroughly so that you do not end up living uncomfortably in that new home. When it comes to the bylaws and covenants, you have to learn about having pets, installing satellite dishes, and similar ones.
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 more about the Homeowners Association Board. It is very vital for you to determine whether the Homeowners Association Board has a high turn over rate for its elected members. When the turn over rate for the said board is quite high, then that is a sure sign that there are troubles within the said organization.
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.
Another matter you have to ask about is about the developer. You will have to know if the developer retains the ownership of the amenities like the aquifer or the parking lot. If this is the case, it is mostly the case that the developer charges rent for the use of the said amenities and then raise it over time. You should not overlook this very important question.
Ask about assessments. There should be several assessments levied to owners. Ask about what assessment was levied at the most recent time. Also, ask whether the assessments are implemented frequently. If you are planning to have a unit at an older complex, then the said assessments are definitely more frequent.
However, one should remember that living in a condominium unit is a lot different from living in a single-family house. While you own the living space within the unit you availed, the outer structure of the said condominium as well as the ground on which it was built is not yours. You have to follow rules, pay monthly fees, and consider your neighbors.
In order for you to avoid regretting your decision of purchasing this unit, then you should ask first some questions before you event think about seeing the contract. This is so that you will have an idea on what living on the said apartment is like. Here are a few questions that must be asked before you actually go ahead with the purchase of this condominium unit.
First, it is only natural for you to get a copy of the bylaws and covenants that cover the living in the said condominium. Be sure to inspect it thoroughly so that you do not end up living uncomfortably in that new home. When it comes to the bylaws and covenants, you have to learn about having pets, installing satellite dishes, and similar ones.
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 more about the Homeowners Association Board. It is very vital for you to determine whether the Homeowners Association Board has a high turn over rate for its elected members. When the turn over rate for the said board is quite high, then that is a sure sign that there are troubles within the said organization.
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.
Another matter you have to ask about is about the developer. You will have to know if the developer retains the ownership of the amenities like the aquifer or the parking lot. If this is the case, it is mostly the case that the developer charges rent for the use of the said amenities and then raise it over time. You should not overlook this very important question.
Ask about assessments. There should be several assessments levied to owners. Ask about what assessment was levied at the most recent time. Also, ask whether the assessments are implemented frequently. If you are planning to have a unit at an older complex, then the said assessments are definitely more frequent.
About the Author:
You can visit www.thecrestpcc.com for more helpful information about Questions To Ask When Buying Prince Charles Crescent Condos.
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