3 a Few Before Sharing Condo Ownership With family And Family
When a leaky condo is discovered, there is usually a paper trail. Look into any and all reports and paperwork beforehand, and do not be afraid to ask questions. Ask questions that specifically address leaky condos. For example, you might ask if they have downtown condos for sale ever had a leak in the building. Also, how does the condo hold up in the stormy season? Also ask the tenants if they have any. They are much more likely to fess up the real deal.
I met a woman the other day and she told me about one of her biggest fears in regards to being a condo ownership. Something that stresses her out every day. And that's whether or not her neighbor has gotten home before her. You see, he just bought a new van. A "huge" new van was how she put it. And because parking is so tight in some condo parking lots this has become a massive issue for her. I think the fact that she's not the most confident driver in the universe has blown this problem up to epic proportions as well.
This year, I visited Sun Peaks Resort here in British Columbia with some good friends from California and Dubai. It wasn't long before talk of joining forces for a real estate venture became part of the post-slopes dinner conversation.
Floor space is at a premium in many condos. If you have knick-knacks or other things that you just cannot bear to part with, but do you also do not have roof for standard shelves, then consider floating shelves. These take up only wall space and can be a great way to display the items you want displayed.
This didn't make sense to me for a long time. I felt (as I believe many people feel) that investing money in a home or condo was a wise investment, helping to build equity and preserve wealth. Why would anyone want to throw away perfectly good money on rent every month, especially when rental money didn't buy you a stake in that apartment but went to the landlord?
Then there is the loud music. This is a rule that should be enforced everywhere in America. While the rules for the acceptable volume level of music will vary from condo to condo, it is typically a well accepted rule and welcomed by those that enjoy sleeping at night.
The HOA is typically comprised of residents who are elected by the owners to serve on a board. This board is in charge of setting rules, colleting dues and managing the finances. The individuals on the board may be good at financial planning and they may not.
Clean the kitchen. If there are any dishes in the sink, clean and put them away first. If your dishwasher is full, run it. Then wipe all surfaces in your kitchen - including countertops and appliances - with a kitchen-cleaning solution, and scrub the sink. You may need a heavy duty cleaner to clean the sink, though soap and hot water should do the trick so long as you stay on top of it. Check your refrigerator to see if any of your food is expired, or has been in there too long to eat. If so, toss it.
Condos are designed to be residences. As apartments, they are made to keep the noise down from the neighbors. Many times if your condo has an outside entrance, you may never know that you have neighbors. You will rarely have to endure people talking loudly and stomping up and down the hallway like some motels.
Homeownership gives you a larger net worth. Two people make the same amount of money, say $60,000 per year. The renter has a net worth of $25,000 and the homeowner has a net worth of $300,000.
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