8 Considerations Before Buying A New House

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CONSIDERATIONS BEFORE
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• BUYING A CONDO

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Buying a home should be taken very seriously.
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After all, not only will it probably be the most
expensive purchase you ever make in your
lifetime, but it may just be the place you reside
in for the rest of your life.
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For these reasons, it is important to consider
all aspects of the purchase, especially if it is
a high rise condo or loft.
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UTILIZE A REAL ESTATE AGENT FAMILIAR WITH THE
MARKET
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• A successful home purchase will rely on your
  ability to find a real estate agent who is
  familiar with the market.

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• Many agents specialize and you should find one
  that specializes in the sale and purchase of
  condos and lofts.

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• The right real estate agent will know all about
  what is available and will help you find just the
  right home.

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CONSIDER THE HOA FEES AND WHAT THEY COVER
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• Condos and lofts will usually
• be under a Home
• Owners Association.

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• With this type of ownership, you
• will be charged either monthly
• or yearly fees to cover the
• expenses incurred by the
• community owned property.

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• The fees cover maintenance and
• upkeep of the building. Ask your
• Realtor about the fees and
• amenities before you make a commitment to
  purchase.

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READ THE HOAS COVENANTS, CONDITIONS, AND
RESTRICTIONS
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The HOA will also give you a list of Covenants,
Conditions, and Restrictions (CCRs).
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You will want to go over this thoroughly so you
understand what can and cannot be done in the
unit you are purchasing.
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This is especially important if you plan on doing
any renovations to it.
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REVIEW HOA BUDGET AND MEETING MINUTES
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• Reviewing the HOA budget and meeting minutes will
  also give you an idea of how the community is run
  and where the fees go.

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• If there is a lot of conflict between members of
  the community, you may decide to reconsider and
  look for another building.

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REVIEW BUILDING PLANS
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• Whether you plan to do renovations
• or not, it is important to look at the
• building plans for the unit you
• are considering.

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• You may have the telephone wires
• to the whole building running
• through your unit and, should you
• wish to renovate, this may play a
• factor in what you can and cannot do in your own
  condo or loft.

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INSPECT THE COMMUNITY OWNED AREAS
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An inspection of the community owned areas will
also give you a good idea of how the building is
operated.
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Make sure the areas are kept clean and repaired,
because if they're not, most likely it will not
change after you move in.
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OCCUPIED UNITS IN BUILDING
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• Another factor to consider is how many units are
  occupied in the building.

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• A low occupancy rate will mean the value of the
  property may go down, unless it is a new building.

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• If you are looking at a condo or loft as an
  investment, this is important and you should
  discuss it with your real estate agent.

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HIRE A PROFESSIONAL BUILDING INSPECTOR
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• When you find a unit you want,
• make the purchase with the condition that it
  passes a professional
• building inspection.

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• The inspector will come in and provide you with
  details on the condition of
• the unit and building, as well as any repairs
  that should be made by the owner prior to
  purchase.

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• If you are looking for Phoenix urban condos,
• We Know Urban Realty will help you find the
  perfect place.

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• Their realtors are experts when it comes to urban
  living.

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• Visit the site to see what's available right now
  http//weknowurban.com/

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Will Daly, BrokerWe Know Urban Realty, LLC834 E
Claremont Street, No 3Phoenix, AZ 85014(480)
510-8755Email Will_at_WeKnowUrban.com