5 items to consider when buying your first condo

The pictures look great and it's fitted with all the features you require, but before you put your deposit down on that seemingly ideal condominium, there are five key factors to take into consideration when going to view a new condominium.

1. The Condition of the Lobby and Hallways

While many people don't consider the communal areas of the building to be of vast importance during their first purchase, they can act as a key indication of the care with which the building managers conduct their work, and thus provide you a good idea about the condition of the building overall. If you're greeted by dusty odours and a stained carpet; you may wish to think twice about purchasing the condo, despite its apparent appeal on first glance.

2. Getting a Second Opinion

While the first impression may have taken your breath away, it's imperative that you go to the condo at least twice before making your decision to purchase the property. On the second occasion, be sure to bring a friend or family member, as well as real estate agent as they will help you to notice some of the smaller, less noticeable details that might have escaped your attention first time around.

3. Storage Space

One especially important aspect of condo living is ensuring that you have enough space to store all of your personal items. In many cases, the condo building will offer you an area in which to store items that are too large to place inside your condominium. This consideration is especially important for those with large families, who may require extra space for items such as out-of-season clothes, sporting equipment and other possessions that can add clutter to a space.

4. The Elevators

In most modern buildings, elevators are designed for streamlined performance no matter how many people use them per day. However, in some older condominium buildings, the elevators can sometimes break down or experience ongoing dysfunction. When visiting the building in which your chosen property resides, be sure to test out the elevators to see how well they function. Poorly performing elevators can have a knock-on affect on your overall work day. Thus, it's imperative to consider these seemingly insignificant machines before making the decision to purchase that "perfect" condo.

5. Security Arrangements

Although especially important for those buying a condominium for their families, security should be on your agenda when considering any property. Ask the condominium owner about their security apparatus to see whether you're going to be truly comfortable with your loved ones living in the property. Most new developments will have a door person attending to the lobby area 24-hours a day. Make sure that the property you choose has a similar service and enquire as to the property's additional security measures before making any decisions to buy.

Based on an article by Ian P. Marshall