Four Tips For Buying A Condo
Updated: May 26, 2021
When in the market for a new living space, it’s wise to be as educated as possible about choosing a property and all the legal and financial considerations. You will probably be living in your new condo for some time to come. Ensuring that you purchase just the right unit for you and your loved ones is vital to everyone’s future comfort and security.
THINK ABOUT YOUR LIFESTYLE.
Give some thought to who you are and what your personal preferences might be when you are shopping for a living space. If you hate yard work or would rather not be the one responsible for repairs, a condo is probably a better choice for you than a single-family home. Think carefully about what you want your life to look like as you shop. A condo can be a wonderful place to be for people who are really busy and don’t have time to maintain a large yard as well as for those who just want to enjoy some golden hours of relaxation.
A pro tip for buying a condo is knowing ahead of time what the fees will be before you purchase your unit. This will ensure that you budget accordingly. Be sure to watch out for fluctuating or hidden costs and ask for all the documentation of these figures. Some amenities will be included in your monthly payment, while others will cost extra or require a membership. You will want to be completely clear on how much any and all amenities will cost before you make a commitment.
The housing market in Nashville always seems to be strong, so once you find the property you want, be timely in pursuing your purpose. Keep in mind that nearly half of all properties listed for sale end up never selling, while other homes that get listed and sell will go under contract within the first 30 days. Those properties that are in demand and priced appropriately will sell very fast. Be prepared.
KNOW THE PERKS.
Condo-living offers some really great perks, and considering these benefits is another great tip for buying a condo. What’s in it for you? Knowing what the property offers may be the tip needed to convince you to embrace the condominium lifestyle.
Savings. Exterior maintenance in condo communities is generally handled by an HOA. This will usually include lawn and shrub care, driveways and walkways, roofs, and exterior siding. Property taxes tend to be lower, as well, and since a condo is often more compact and requires less attention, it can mean maintenance cost savings.
Social. Many condo communities and their respective HOAs organize social events, such as pool parties, barbecues, and playdates.
Amenities. You may have access to top-notch amenities such as a Lakefront Walking Trail, Lock-and-Leave Lifestyle, optional country club membership for access to a pool, fitness center, clubhouse, dining, and more.
Here at Revery Point, we offer a luxury resort lifestyle. Nestled in the beautiful hills of Middle Tennessee, our residents are surrounded by all the glorious natural beauty of the area while living only 25 minutes from all the glamor and bright lights of downtown Music City. A Revery Point condo gives you the best of both worlds! Call us today and schedule a visit to learn more about our luxurious units and grounds.