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Things to Look for When Buying a Condo

If you’re among those few wise people who are planning to buy a condo instead of expensive apartments, then there are several things you should keep in mind before making the purchase. This blog post will discuss everything you need to take into account when buying a condo.

1. The Size of the Condo

As much as possible, you should look into buying a condo that is near your workplace. This would help you save money since you won’t have to travel long distances every single day. If you’re looking around for condos, better first consider the convenience first before anything else. It would be best to choose a condo that is near a supermarket or a place where you can buy necessities. That way, you won’t need to travel much just to buy stuff. If you have kids or plan to have them, then see if there are schools and hospitals within your reach.

2. The Price of the Condo

Try to establish your budget before looking for condos. It would be best if you set aside some cash for emergencies and other unexpected things that might happen later on in life. You don’t want to find yourself having financial problems due to purchasing an expensive condo that your earnings cannot afford anymore. The good thing is you can easily find condos at very affordable rates.

3. The Design of the Condo

The design of the condo is also something you should keep in mind. This doesn’t only include the interior but also the exterior. It’s vital that your condo looks good both inside and out. If your condo looks bad, then potential buyers will be turned off by it when you want to sell it later on. Apart from that, when we talk about the design, it also includes the other aspects such as the structure, kitchen, bathroom, etc.

4. The Maintenance Fees of the Condo

Another thing to consider is how much maintenance fees cost each month for each unit in your complex, both for construction and operations. You don’t want to pay too much just to have someone manage your unit. Find out these details before investing your money.

Whether you’re looking to buy a condo, invest in real estate or purchase your dream home, Insula Capital Group can help. We are a private lending and real estate investment company in NYC that provides its clients with fast funding and an easy application process for real estate investors. Whether you need hard money loans for real estate investors, or you are in search of private money loans for real estate or refinancing loans, just get in touch with us.