Condominiums are a big draw for single people, young professionals, and college students. Most people enjoy the perks of living in the city and being near the night life. However, condo living is usually temporary and you will want to move on to a house. Read on to find out how to choose a condominium with a strong resale value when not keeping it long term.
Check The Resale History
When looking for condos for sale, you want to choose one with good resale history. You will need your real estate agent to check the property history in the Multiple Listing Service (MLS). This listing shows you if a property was recently sold, relisted or withdrawn from the market.
It helps to go back several years for resale history on the condominium. You should take notice of the minimum number of days it takes to sell units in the building. The number of days starts from the list date to the date of the sale. An ideal situation is the ability to list your condo and having it sell within a month.
The property appraiser's office gives you access to the property records. You can use this information for researching the property. For example, the property records can tell you the owners of the property and how much they paid for it.
Choose A Building With Good Maintenance
Some people seek a condominium with a low maintenance fee. Cheap is not always best because you get what you pay for. This fee covers landscaping, upkeep of the building, support services, and services at the gate. Some condos with low maintenance fees do not always keep the property up to high standard. A building with low maintenance fees can decline in value because of poor maintenance of the property.
Avoid Buildings With A High Volume Of Renters
You want to stay away from buildings where a high percentage of the owners have rented out their units. Owners who live in the condos tend to make repairs and take care of their property. Renters tend to not appreciate a rental property and may cause damage. They can have a criminal background or have people over with a criminal background.
Most people enjoy owning a property and not having to do yard work. There are a variety of amenities that come along with condo living, such as pool access, onsite gym and access to a banquet room. If you are planning on selling, then you should consider these factors before agreeing to purchase a condominium. For more information, contact a company like RE/MAX Associates San Antonio.Share
12 December 2017
After I decided to buy a new home, I realized that I probably needed to prioritize the things on my wish list. Since I am not wealthy, I realized that I probably couldn't get everything that I wanted out of a single home--at least, not this time around. Fortunately, I worked with an incredible real estate agent who helped me to figure out which type of property would pay off in the end. Finding a home took a lot of time, but I am really pleased that I found the right one. This blog is all about learning to prioritize your home hunting wish list so that you can have the home and financial situation of your dreams.