For those who may not be able to keep up with their house mortgage in this troubled economy, they may soon be thinking about downgrading to a smaller space; perhaps a condo. If you have always lived in a single unit home, it may be difficult for you to make that transition to a condo.
There are vast differences from living in a single unit when you move into a condo, one of which is that you have to share your property space with others. Among some of the things you may have to share with your neighbors include the condo grounds, laundry area and even the pool if there is one.
Relocating to a condo also means that from time to time you would be given notice so that the grounds and maintenance crew can come into your unit to inspect it. Depending on which condo you choose to live, there is also security on the grounds either with an appointed security personnel on the premises or with the use of close circuit cameras in the building. This type of security is ideal for a single person or a single parent living with their kids.
Another thing to note about living in a condo is that you may have to deal with hearing noises from your neighbors since they live so close to your unit. There would also be repair and maintenance noises that you would hear around the building or even coming from one of your neighbors as well. From noises made from the garbage chutes to the sound of the elevator and even the air-conditioning units; these are the noises that most tenants who live in a condo have to deal with. Even before moving into your condo, be sure to ask the real estate agent about noise reduction in your unit or find out about ways in which it can be obtained. In addition, find out about the noise level rules in your building; usually some condo association have rules about the noises that neighbors make in their own unit.
If you are downgrading to a condo from a large single unit home, you may have to also downgrade your furniture as space may not allow you to keep those that you have. Some appliances may not be allowed in the unit as well; be sure to ask about if you can keep a washer/dryer in your unit before moving in.
Since some condos have pet restrictions, you should also get information about this beforehand as well. One condo dwelling may require that your pet be of a particular weight to be able to move in with you while others may allow you to only have a dog or a cat. The sooner you find out about this the better as you would be able to make alternative arrangements for your pet or move to another condo that would accommodate them.
Moving from your own home to a condo can be quite an adjustment, but one positive may include being a part of an HOA which takes a lot of outside maintenance out of the equation. In condos you are also more likely to have access to amenities like pools or tennis courts. There could be some definite upside to downsizing to a condo or apartment.
I agree with Kelly Greeny that there is definitely something to be said for the maintenance-free amenities.
If you do have a dog, one key factor to consider when deciding on a condo as your knew home is how far you’ll have to take that dog to relieve himself. Sometimes this can be a real hassle, as many condos make you go off property, as if you animal is an intruder, not a tenant.
Lots of things to consider before you move into a condo in this post that I wouldn’t have thought to tell someone. Nice job.