Deciding on a first property is a matter of great excitement, numerous first time home buyers start out by purchasing condominiums rather than a single family home like detached homes, semi detached homes, townhouses etc.
With affordable prices and the possibility of value appreciation over time, house for sale in Virginia Water can be tremendously beneficial and can provide homeowners with equity that can be invested in a larger house in the future.
With new temptation of buying a new condo , it should be taken into account care and through analysis and research would be fair enough before you move ahead to finalize your dream or a penthouse for sale in luxury condos.
When considering condos for sale in luxury condos, following factors should be evaluated before making a commitment:
When a buyer purchases a luxury condos, he or she does not actually own the structure. Instead, buyers own the empty space within and referred to as “air space” in the real estate industry. Buyers do not necessarily have the right to alter or modify the physical layout of the condo, unlike single family homes, in which the buyer can make modifications, in most of the cases. So in spite of being owner of the unit, alternations can be a limitation to consider.
They have to evaluate how much per month maintenance fees or condo fees is to be paid by them for their unit, which is charged by the condo corporation to maintain the building & amenities provided. According to the new principles, the greater part of the new apartment suites which were developed after 2010 should have hydro barred from townhouse charges, which at present have been actualized by the vast majority of new condominiums. There are as yet other more seasoned apartment suite structures in luxury condos, which despite everything have all utilities remembered for the condominium charges, which may not generally work furthering your potential benefit as this advances wastage and consequently powers the enterprise to continue expanding the month to month expenses. In most of the cases, if utilities are excluded, condo fees will increases slowly when compared to the alternate. When you have shortlisted few buildings, you shall also compare their condo fees.
When choosing a condo, buyers should carefully consider the reasons for living in a condo and select one in a location that satisfies this basic purpose and requirement. For example, if you would like a located close to school or work, choose a condo within few km’s or nearby locality. If you do not own a car but would still like to be able to get around, search for condos for sale in luxury condos near public transportation, schools, college or hospitals etc.
Also before finalizing, when you are looking for luxury condos Sale, don’t forget to check the amenities of that Condo Building. This is where most of luxury condos differ, as all buildings have been made to cater different market segments for example, few houses to let in Virginia Water buildings have been made with seniors in mind with amenities matching their requirements, few condos in luxury condos are made keeping family living in mind with amenities matching requirements of various family members, whereas there are other, which have amenities keeping younger generation in mind. This is a very important factor to consider based on which category do you fall in.
Your Condo Real Estate Agent will be very aware of all above facts and shall be able to help you rightly choose the one which is best suited to your needs.