Examining the Perplexities of a Condo for Singles
22 Oct 2020
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Perplexity 1: How might a single choose a suitable condo?
Condominiums are built to accommodate the needs of most groups of people, but there is a prevalent view that singles are most suited to live at condominiums. This is because condos are frequently situated near rapid transit and downtown shopping malls, which provide solutions to the demands of fun-loving singles.
Living at a condominium also reduces the dangers associated with getting off work late or traveling home in the middle of the night.
1. Carefully pin down your location.
The first thing that comes to their minds when singles dwell over condo selection is whether a location provides for convenient transportation. The would-be resident needs to know whether the location offers easy commuting via rapid transit or via the expressway.
The location is the foremost factor in condo selection – a good location allows you to keep the lids on transportation expenses and precisely plan out your trips each day. A single person would do well to choose a condominium that possess a common area for guest reception or one that possess a co-living space, so that clients and friends can be effortlessly hosted.
2. Facilities must not be overlooked.
Facilities such as the swimming pool and the fitness room are significant matters for singles. These spaces will allow the single resident to stay healthy and in shape, as well as to relax and recharge.
Some condo projects offer a multi-purpose area, a library, or activities arranged by the condo management for the purpose of strengthening relations between residents – joining these activities may result in singles abandoning their single status.
3. Look forward into long-term investment.
The final concern during the selection of a condo for singles is long-term investment. Singles should bear in mind this topic, as there are no guarantees that they would stay single for an extended length of time. If the single person finally gets a partner and starts thinking of marriage, his/her needs associated with selecting a condominium may change.
Be mindful of that fact that condo prices will keep changing in the future and that, generally, a condo unit within a well-maintained project at a good location will appreciate in value by 5-10% each year.
Perplexity 2: Preparing a checklist for staying alone at a condo
Selecting a condo room to stay at by yourself sounds easy enough, because the process should only involve your own preferences. But many have regretted not planning ahead during this very process. Here is a list of things you should examine before purchasing a condominium unit to stay by yourself.
1. Gathering information.
Start by inspecting a list of your demands or by preparing information relevant to purchasing a condominium. Said information includes the location, distances to places of interest, transportation options and traffic conditions.
You should also check whether the room size it appropriate for the way you would use the room; some people stay at their condos only on weekdays and stay at their houses on the weekends – the condo room need not be very sizable in these cases.
2. Examine yourself.
Don’t forget to take into your own behaviors and patterns into consideration. Examine how you spend a day and what your lifestyle is like. See whether the vicinities of the condominium possess things that are suited to your lifestyle. Doing so will allow you to select a condo that is a good match for the way you live.
3. Examine the neighbors.
Observe the types and behaviors of would-be neighbors within a condominium so you can have an idea of what kind of circles you are getting into. The behaviors of residents will effect how the condominium is administered by the juristic entity.
The condo management and the juristic entity itself should also be subjects of examination; determine whether they are able to contribute to improving the liveability at a condominium.
4. Check the selling price.
Firstly, set a budget for which you are able to accommodate. Then select a room you can buy, weighing the pros and cons of each prospective location and the associated amenities and facilities.
5. Evaluate your financial situation.
Examine your ability to pay instalments and the interest rate on the mortgage, making sure the rate does not exceed your capacity to pay. It is a good idea to be able to put out enough down payment to offset some of the interest that would otherwise be incurred.
These details should not be overlooked when selecting a condominium, and thorough examination of these points will prevent you from having regrets later on.
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