When buying a luxury condo it’s important to consider all aspects of the purchase. Taking your time, doing a bit of research online, talking to a knowledgeable real estate agent, and knowing what you want will make for an easy transition when buying a luxury condo. Here are a few tips to get you started.
Location: It should come as no surprise that the number one thing to consider when buying a piece of real estate is location. Things to consider are convenience to public transportation or time commuting to work, proximity to grocery stores, restaurants, entertainment and to outdoor activities.
Work With A Knowledgeable Agent: It’s important to work with a real estate agent who has knowledge of the property or has experience working in the high end market. This person can offer a wealth of information and is a valuable resource.
HOA/Maintenance Fees: Many buyers choose a high end condo for the convenience of maintenance free living with a list of amenities. These amenities come at a price and know that it will become part of your monthly expenses. You will need to consider what is most important to you in a living space and what you are willing for to pay for those things.
Do Your Research: Get to know the HOA and it’s covenant. You can talk to residents or do research online and find out how decisions are made regarding building policies.