If your looking for an option besides buying your home, chances are you’ve seen new luxury condos for sale among your local real estate listings. Condos, short for condominiums, are similar to townhomes, but unlike townhomes, they can be purchased to own rather than simply rented. (In some areas, however, you may be able to find luxury condos for rent by owner, too, and sometimes condos for sale by owner, also.)
There are many things to consider if you’re searching through new luxury condos for purchase. A luxury home, for the purposes of definition, is anything costing over $1 million. Here’s a simple guide in terms of what you should be looking for when you purchase one of the new luxury condos on the market.
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1. Calculate space. Some condos can go for $1,500 per square foot or more. Be sure to consider what you want in terms of the amount of space you need and what you’ll do with that space. Some people may be upgrading their living to a larger home; others may be looking to downsize in terms of what you’ll have to take care of. Think about your needs (and budget) and go from there.
2. Think about the property itself. What sorts of fixtures would you like in your condo? If you’re in for luxury, be wary of any property that appears outdated. While it’s easy to upgrade certain aspects of a condo, like a kitchen, it also could be a sign of the condo’s maintenance by the owners. If you want granite counter tops and open floor plans, then be sure to make that clear on your search.
3. Consider amenities. Do you enjoy extra services in your condo or do you need something more basic? Some condo properties offer a variety of amenities that can make it feel like you’re living in a hotel: golf greens, complimentary lobby breakfasts, concierge services, common entertainment rooms, and even pet spas. While some people enjoy these things, others might not want to pay for services they won’t use. Think about which services the condo owners offer and weight which ones are right for your lifestyle.
4. Don’t forget that it’s a community. Unlike living in a private home, you will have neighbors and shared walls, so be sure to scope out the area where you’ll be living first. Also, find out if there are any fees for the community. Many places have these associations, along with neighborhood watch and security, too.
Have questions about luxury condos for sale and what else you should look for? Contact a real estate agent to find out more. Also, feel free to leave a comment below. For more information, read this website.
