Your First Condo
If you decide an urban lifestyle is the life you want to lead for at least the next five years, it may be time for you to stop signing apartment leases and choose a condominium to live in instead. Many downtown condos will have the same amenities you are used to (pools, workout centers, game rooms), and you will have a chance to build equity in an asset instead of leasing, and have much more control over what you can do inside your new home.
And remember, when you buy a condo, you are not buying a room or the structure, but the right to occupy a unit of space. You have complete ownership of everything inside the bare walls, and shared ownership and responsibility for group property, such as common areas. You can alter your condo in any way, so long as it doesn’t infringe upon the laws of the condominum association.
Of course, you will eventually sell your first condo someday, and there are some features that will make your condo more desireable for buyers when that day comes. Look for hardwood or bamboo floors, unique features such as bay windows or especially good views, high ceilings, and high-quality appliances. You may also want to consider putting some extra work into your condo’s strongest selling points to market your condo more effectively when selling time comes. Check out this article at VIP Living for more information about choosing a condo and examining the association of your particular condominum.
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