When you are ready to move to a condo, there are a few basic questions you should ask
If you are ready to downsize from your family home, you might not be ready to be a renter. Condominium living offers many of the benefits of home ownership without the lawn care, snow removal, and maintenance. For many seniors, condominium living also puts a great support system in place, along with interesting activities. They offer a new start in a more compact place that starts out with less clutter and more freedom.
What Condos Offer
While the amenities between condo complexes may vary, all offer some of the same benefits, in addition to minimal maintenance:
- You can choose the style. With new construction or older buildings that have been converted to condos available, you can find a new home in the style you want. Your community may have specifications on exterior paint colors and modifications to make sure that the outside style does not change.
- You will have neighbors close by. This can give you a sense of community, and the comfort that someone is nearby if you need help. While you might still be working and independent when you move to a condo, you may rely more on your condo neighbors as time passes.
- You will have better security. Depending on where you choose to buy, your community may be gated or you may have a security guard on duty at a gate or at a desk to screen visitors and prevent intruders.
- Major repairs will be taken care of by your Homeowner’s Association. While you pay for these through a monthly fee, you will not be caught off guard by surprise repairs. Occasionally, the board may assess you for your share of major repair, but as a homeowner, you are aware these charges are coming.
Questions to Ask About Your New Condo
When you are ready to move to a condo, there are a few basic questions you should ask:
- Is the condo specially an over-55 or retirement facility? If you prefer to be with others your own age, you may want to aim for a building geared to senior living.
- What is the monthly condo fee and what does it cover? Some fees just include basic landscaping and snow removal, while others include amenities and even heat. You should ask how often the fees go up.
- Is the condo budget well managed? You should have access to documents that show the size of the reserves and that tell you if the condo is consistently over budget or under budget.
- What amenities are on site? Some condos have golf courses, pools, workout facilities, and rooftop decks in addition to common areas.
- Are there planned activities? If you are looking for a good way to meet your neighbors that does not require you to go far, activities such as bingo, game or movie nights, classes, book clubs, and more may interest you.
- Does the complex allow pets? What are the limitations on type, size, and breed? Before you move in, you should make sure that the place permits your Great Dane or Pitbull or your five cats.
- Are there limitations about visitors? Some over 55 communities do not permit you to have child under 18 living with you. You can have your grandchildren visit you, but not take them in permanently.
- How have the condos been selling? This will tell you if your purchase will hold its value over time.
The best condo for you is one that is well managed, within your budget, and that accommodates your needs for community, activities, pets, and other lifestyle concerns.
Call Real Estate Professional Roy Thomas For Guidance
Especially if you are a first-time condo buyer, you need a good real estate agent to guide you so that you get an affordable condominium with reasonable fees. Realtor Roy Thomas can help you sell your current home, find a great new condo for you, and help you navigate the new world of condo ownership.
If you are ready to sell your home for maximum value, the best place to start is by clicking here and scheduling an appointment.
Roy Thomas SRES is a Senior’s Real Estate Specialist and a REALTOR® with Sutton Group-Professional Realty. Licensed since 1991, much of Roy’s practice is helping retirees with their later in life moves. Roy can be reached at 902-497-3031, by email: RoyThomas@RoyThomas.ca or read other articles online at www.HalifaxSeniorLiving.ca
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|Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991 Roy specializes in helping retirees with their later in life real estate transactions. If you are contemplating a move and would like a complimentary copy of Roy’s guide to downsizing entitled “Preparing to Downsize” please click here|