Downtown Austin condos are getting a huge interest from people living in Austin and Texas. & Why not, they worth buying and it were a great experience living in a Downtown Austin Condo. A Lot of a People search about Condo for sale in downtown Austin, but the one who haven’t lived in a condo before don’t know about the things that should be checked before you buy a condo. That’s why they seek an agent’s help in-order to get some advice. No doubt, that an agent can help you in buying an Austin condo for you, but you should also have some basic information about which things can affect the price and value of a condo.
That’s why today I’ve made a list of a Checklist you must read before you buy a Downtown Austin condo from an agent or directly from a Seller.
1. Specifically built or an Apartment converted condo?
Heard about this term for the first time? Don’t panic, there are two different type of condos, one is which was specially designed and built as a condo and the other one which is an apartment in the initial days and then later converted into a condo. Mostly the difference between a purpose built condo and a converted condo was about Soundproofing. When a building is built specially for a condo, it was built by paying more attention to the requirements of condo like soundproofing of floors, walls etc. But, if it was converted form an apartment it will not have to same result.
Here is a complete Article about: 360 Condominiums Floor Plan and Condos for Sale
Another thing you have to keep in mind is that there is a financing difference between a purpose built condo building and the one which was converted from an apartment. So keep this point in your mind while you are making a condo deal.
2. What is the Pet Policy of that Condo?
Each and every condo building has some pet restrictions. You have to know about them before you make a purchase. You have to get information about the number of pets you can own while living in a condo and also about the size of pets. This will help you value your condo and also make you sure that you can keep your dog with you in this condo (If you have one!).
One more thing, Pet restrictions in a condo can also affect the worth of that condo in negative or positive manner.
3. What’s planned in the nearby of that Building?
This is a very important point and you have to must ask or at least gather information about it. There are different pre-planned constructions which were planned but not started yet and will be starting near in future. These types of constructions can increase or decrease the worth of that condo and also your living experience in it. Even, there is no guarantee that the empty plot next to your condo was planned and scheduled to become a 30 floor tower after a few years.
You have to make sure that the agent you are consulting or working with have the proper awareness of what’s going on there.
4. The renter situation of that Area:
I don’t know how much you care about this fact, but let me tell you one thing that it can affect the price of a condo. The areas which are mostly filled with non-owners (rentals) do not worth much. It is a common and mostly true assumption that non-owners are not much concerned about the well-being as the owners are. So must ask this from your agent or check it yourself.
5. Pending Assessments:
You must know that it is a fact of the condo life that everyone has to pitch some money in order to take care of the building that was approved by the HOA. You have to know about that is there an assessments which the building have to pay but the owner haven’t paid them yet. Because this will affect the price of that Austin Condo as you are going to pay it once you buy that condo.
6. Know about the HOA payments and their coverage:
Every condo has a monthly HOA payment which you have to pay monthly or either annually. Different expenses are managed from those payments including Staff salaries, valet charges, trash, electricity and other charges. You have to keep an eagle’s eye on this part too while buying a condo because this state the worth of that condo.
While you check for these points while buying a condo for yourself or for your loved ones, still I recommend you to buy it involving an agent. As there are many factors which are not stated in this article but they affect your living experience and the worth too.
Wishing you a happy condo living experience in Downtown Austin Condos!
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