You’re willing to accept the inconveniences that come with living in a co-ownership property and you are now ready to start looking for units. Be careful! Buying a condominium is not the same as buying a house.
Are you looking for a divided or undivided condo unit? A new condo or an older one? These are two contrasting realities. A new condominium will be more modern. You might even be able to look at the blueprints of the unit under construction and offer a few of your own ideas. In addition, maintenance costs will be lower since the building is brand new. Keep in mind, however, that you will have to deal with a promoter. Sometimes, he or she tends to make last-minute changes without advising the future owners. Proceed with caution. Here is a question you should ask: Will you have to pay a monthly housing charge? If you are the Eco-friendly type, new housing is more likely to meet your criteria than older buildings, since the materials used are more current.[……]
It seems that everyone is buying a condo these days. This way of living has never been so popular. Perhaps you are thinking about buying one? Here are a few questions you should ask yourself before you start your research.
Be as honest as possible with yourself and know the specific reason why you are considering to buy a condo. Are you looking for fewer responsibilities? Are you feeling a little lonely living in a single home and would rather live a collective life in a condo? Are you growing a little weaker as the years go by? Have you reached a moment in your life where you would prefer facing the unexpected in a team rather than alone or as a couple? Is it more cost-effective for you to sell your home and buy a condo instead? As a tenant, would you rather own a financial asset as quickly as possible? The more precise and candid the answers to these questions are, the more fruitful and short-lived your research will be. That is if ever you actually decide to make the move.[……]