Sunday, April 6, 2014

First-Time Homebuyers: Four More Questions To Ask As A First-Time Condo Buyer

There are certain questions a buyer should ask if it’s his first time to explore the possibility of living in a condominium environment. One of these is the SOP (standard operating procedure) on maintenance and repairs. After all, this is a well-known benefit that makes condos stand out from the rest of its competing residential types. Another is the amount of restriction when it comes to improvements and decorations. This is perhaps a huge downside in a condo lifestyle – the inability to make major changes on the unit. 

What To Ask Further As A First-Time Condo Buyer
Apart from the items mentioned, there are still some angles worth checking out. Here are four of them.

1.       How does the association manage its residents? The manner in which the residents respond to the rules and regulations up to the moment when these guys file complaints are great indicators of how good or bad the management procedures are. Are there many delinquent occupants? This can be a sign of discontentment on the part of the owner or tenant. Are there a lot of people complaining about slow response to plumbing or electrical-related issues? There must be existing management difficulties to make the association render a bad service.

2.       Are the owners or tenants entitled to have their own parking spaces? There are instances when a complex has limited slots for parked vehicles. If a unit occupant wants one, he or she has to pay very high fees just to have access to it. Therefore, determine if the condominium comes with parking and how much it costs. How do they deal with situations when an extra space is needed for guests? How secure is the stall and can they be rented for a specific period of time? 

3.       Are pets allowed? There are Philippine home types like apartments and condominiums that restrict dogs of certain breed and size from staying in the Philippine property premises. Find out if the complex is not an exception. Have a copy of the house rules so you will be guided well.

4.       Are the noise problems really bad? Noise issues are unavoidable in condos. These can come from noisy neighbors or being close to shared busy areas like the elevator, pool or spa. It will be wise to pay it a visit on different days and at different times to assess how much it will impact you once you moved in on the area.