There are many factors involved when choosing a condominium unit here in Normanton Park. The most important thing is to get a good deal. The following are factors to consider before signing for a unit.
A good location is important. It is advisable to get one near public transportation, schools and shopping centers such as Vivocity. The location should be accessible on weekdays and weekends too. Safety of the building and the surroundings is also important. Pick a place with good security features like closed-circuit television surveillance system, fire alarm, intercoms and emergency exits. An apartment with a view of greenery would be better than one facing buildings or a busy street.
Type of Unit
Apartments are usually categorized as studios or one bedroom apartments wherein two people can already live comfortably in the former while three may do so in the latter. A two bedroom apartment or a three bedroom unit if one is planning to live with family members or friends. The size of the unit could be anywhere from 30 to 50 square meters and may also consist of two bathrooms.
The budget would really depend on the type of unit and location chosen. For instance, a one bedroom apartment near shopping malls will cost more than one near public transportation hubs. There are also monthly charges which will increase depending on the condo facilities used by residents. This includes repair costs for common areas as well as management fees for maintenance and security services.
Type of Ownership
It is safer to buy a condominium unit that is owned by a developer rather than one owned by individuals. You are also less likely to face problems with lenders and banks. If purchasing a unit that is being sold by an individual, it would be advisable to get a third party perspective. This will help in cost estimation, project completion time and quality control.
Apartments may range from wooden to brick structures with modern interiors. There are also executive or gated units which have resort-style amenities including hot tubs and pools as well as large terraces for gatherings. Modernized designs include apartment blocks which offer features like green roofs with gardens, solar panels and energy efficient appliances among others.
You can check on the quality of an apartment by checking out its common areas. If the area is clean and well-maintained, it is safe to assume that the unit will be in good shape too. The hallways, elevators, staircases and corridors should also be in good shape and properly lit. For instance, you can easily notice cracks on walls or unnecessary peeling paint which may indicate poor quality of construction.
Flats that are well designed with adequate storage spaces usually have higher resale value as compared to those which offer less living space at a reasonable price. The size of the unit as well as location should also be taken into account to get a fair price when it comes time to sell.
A good security system is a must. Low occupancy buildings may not have adequate alarm features and therefore, it would be advisable to choose one where the management company provides an alarm system that can trigger when certain sounds are produced. The management company should also ensure that there are fire exits, fire alarms, security patrols and intercom systems in the common areas.
One needs to exercise caution when choosing a condominium unit so as not to regret later on in life. The following are some tips that you could consider when choosing a unit.
Do your home research
Read online reviews and check out the client feedback of any available units on the Internet. Visit the actual site for this yourself and assess it physically. If you are doing this, ask a local realtor to show you around, not just from the outside but also take you to some neighborhoods that look good too. Find out how long a cheap condo is likely to hold its value over time as well as whether it is safe, comfortable and easy to maintain.
You may also want to get design ideas from friends who have recently bought condominium units or those who have lived in them for quite a while. A good design will let you get value out of the space without having to spend a lot of money on paint, furniture, lights and appliances.
Don’t buy a unit which isn’t ready
Properties that are not ready may have lots of defects in construction or may be located in places where it is difficult to access. If you need to wait for construction or renovation to be completed, there could be plenty of time to think about another unit.
Location is very important. You need to consider the noise level and access problems along with safety precautions such as closed-circuit television surveillance system, emergency exits and other security features.