Interior Designer

Buying a Condo or Apartment

When you are buying a condo or looking at apartments for sale Wollongong area there are several advantages to choosing this kind of home over a house. When you are a house owner you have to cover the costs of maintenance, roof repairs, trimming the hedges, cutting the grass, and so on. Sometimes the jobs of property care can seem endless! When you own an apartment all you need to do is pay your association fees and all those things are handled for you! Here are some more reasons why being a condo or apartment owner beats being a house owner.

A more affordable way to invest in a property

Even when times are hard for house owners who are trying to sell and dealing with a drop in property prices, or even worse foreclosures, an apartment can still be a good investment. When you buy an apartment Wollongong you can also pay less for a good apartment in a good location than you would for a single family house. Sometimes as much as 20 to 30 percent less. For new homeowners, young couples, even smaller families, as well as retired couples looking to downsize, an apartment makes sound financial sense. A way to get onto the property market without over extending yourself.

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Enjoy being part of a community

Another benefit to living in a condo or apartment over a house is the community you can enjoy. You have neighbours you see every day you can choose to interact with, you have communal areas you might share and chat in on a daily basis. You might have safety elements in an apartment block both in terms of buzzing to get in, and then also in the form of people close by you can call out to if you need them.

Things to think about when you apartment hunt

Now that you can see there is a lot to be said about finding the right apartments for sale Wollongong area, here are some things to think about or ask in your hunt.

  1. What are the fees and do they have a good reserve? Each apartment owner pays fees to the association and that is what pays for repairs and maintenance of communal areas and the building itself. But sometimes there is big spending required, such as a roof repair. Do they have money in their reserves to handle that or would you have to split it between you?
  2. Are there any suits against the condo association pending? The older the apartment unit the more likely there are to be pending suits so look into that as it might be best to avoid that kind of situation.
  3. What does the inspector have to say? It is a very good idea to have an inspection. You would have one for a house so why not an apartment? Make sure you hear what they have to report before your sign anything.
  4. Are there any rules that might cause a problem? For example many have rules against any pets so you might want to check that before you buy an apartment Wollongong if you are a very proud pet owner.Visit this website for getting up-to-date news and is an online community where people can share their experiences. If you want to get more information then you can also check out this site

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