Are you searching for a new home? A condominium can be a fascinating choice. Condos are less expensive to buy than most townhouses, and offer conveniences and comfort that you may not otherwise be able to afford. On top of that, a condo gives you the opportunity to own a home and experience no headaches with the caretaking bit of it. These great benefits have resulted to increased demand for condos in Pattaya, which has, in turn, lead to flooding of condos for sale at bargain prices. You will find charming, once-in-a-lifetime deals when buying a condo in Pattaya today. But, you can also get yourself into real trouble if you don’t ask the right questions when buying your condo.
No matter how quickly you need the condo, it is important to make an informed choice. Here is a list of must-know things that you need to know before you buy your condo.
Condos Involve Shared Responsibilities
One of the things that make people opt for condominiums is the aspect of shared responsibilities. This is mostly with regard to maintenance, repairs and insurance. For instance, costs involved in upgrades and repairs of exterior features such as the roof, windows and driveways are shared by everyone in the condominium community.
Condos Often Come with Cheaper Insurance
Owning a condo in Pattaya will significantly reduce your insurance costs than if you owned a single family dwelling. Part of the condo structure is going to be covered by the condo association’s policy and so you’ll be required to pay insurance for only the remaining portion of the structure. It is important to work with an agent when purchasing condo insurance. He will be of great use in finding the right cover and at an affordable rate.
You Still Need a Real Estate Agent when Buying a Condo
It is crucial to seek expert help when buying a condo, especially if you’re a first-time buyer. Finding a suitable condo in Pattaya can be a long, painful and frustrating process. But, hiring a real estate agent makes the process a lot easier and efficient. Condominiums have trickier purchase agreements and other unique issues that can only be handled best by a real estate expert.
You are Subject to Association Rules when Staying in a Condo
On top of the purchase agreements, you’ll be required to play by the rules of your condo association. These rules can be extensive at times. Some condo associations, for instance, prohibit residents from carrying out any form of business within the units. In others, you’ll be required to turn off music after 10 p.m. Review all the rules before you buy the condo. Can you live by them?
You Might Need to Pay Other Fees
In addition to your monthly condo payments, you’ll be required to pay other fees. These are the association fees which are used to pay for the shared expenses such as gate security, lawn maintenance, and repair of external windows among others. Before you buy a condo, factor in these additional costs and determine if buying the condo is still the most cost-effective option.