As urbanization and populations increase, condos become a much more popular option for housing, especially for younger generations and retirees looking for smaller housing. The advantages of living in condos include Maintenance, a range of great amenities, underground parking, city living, and more energy efficiency, among others.
Factors to Consider in Choosing a Condo
However, when you buy a condo such as in JadeScape, you need to look out for several things. First, make sure the builder’s reputation is established. Know if the builder delivered previous condos on time. Ask the builder about temporary occupancy fees. Make sure you choose a fully equipped condo. One of the most important things you have to do is to ask how much you have to pay for the condo. If you buy a resale condo, find out how much condo fees have increased in recent years. You can also ask yourself what the new development plans are. If you are critical in detail, check the minutes of the last meeting of the condo board.
What is a Condo?
A condo is a private residence in a larger building or community, short for a condominium. In contrast to popular opinion, a condominium is not a type of building but a form of ownership. Although most condos worldwide are apartments, townhouses, duplexes, and even detached houses can also be owned by the same structure. All condos are defined by the existence of common shared areas and all condo owners are required to maintain these areas by regular monthly fees. The lifestyle of the condo has become an increasingly attractive option for people around the world, particularly in Canada and parts of the United States. Most condo buildings consist of several urban apartments, with people often moving to a condo to improve their quality of life. Condo owners also enjoy access to building amenities and reduced maintenance costs in addition to the benefits of living in a central location. The convenience of living in a condo is at a cost, however, with all condo owners paying a condo board monthly fee.