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Most Common Mistakes that Condo Buyers Do

Getting your very own place can be pretty exciting. Too exciting, that you might overlook some little things that will make you regret getting one. In fact, some condo owners would even sell their property months after they purchased it. Living the condo life can be fun, but you also have to be prepared for some of the responsibilities that might come along with it. So we’ve gathered some of the most common mistakes that condo buyers do and how to avoid them:

 

  1. Trusting Your Real Estate Broker too Much

A real estate agent’s job, basically, is to sell. Although the federal law would require them to disclose all the information regarding the property, there is a chance that they are overselling the property too much. So be sure to do your part and take the time to visit units. Each unit is priced differently, so ask if there are any other options that you can pay lesser but is still in the same building or location.

 

  1. Not Asking About the Rules and Regulations

According to some real estate agents in Atlanta, all amenities inside the condo are shared by the tenants living in the buildings. They do implement rules to maintain the building’s condition and way of living. Some condos do not allow dogs or any kind of pet. So it’s better to ask if they have a copy of the rules and regulations so that you can read it through.

 

  1. Skimping on the Unit’s Outdoor View

Units with a nice outdoor view are more expensive than the other units. However, these units tend to appreciate better than the ones that don't have a good view. This might hurt you in the long run because these properties don’t really sell well. If you’re thinking of selling your unit in the future, it would better to get a unit that has a view.

 

  1. Not Thinking About the Amenities

Most condos, if not all, offers great amenities to its tenants. Using your condo unit just to sleep and don’t even bother to enjoy the amenities is a waste of money. Amenities and its maintenance will be a part of your monthly statement, even if you use it or not. So, might as well enjoy them and get the most out of what you’re paying for.

 

These are just some of the things that you have to bear in mind when getting a condo unit. Some cities in Georgia do offer condo units at a very affordable price. Condo living is ideal, especially for city dwellers. Since it’s usually located in the busiest part of the city, you’ll never miss out on anything. Just try not to make the same mistakes as other condo buyers do. Buying a condo is the same as buying a home, you just have to decide if it’s all worth it or not.

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USDA Home Mortgages

Primary Residential Mortgage, Inc.
10121 N Rodney Parham, Suites C & D
Little Rock, AR 72227
855-474-7169
501-225-5626
NMLS # 3094
Branch NMLS # 252910
Licensed by Arkansas Securities Department 11558
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Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

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