moving into condo
Reading Time: 3 minutes

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 many benefits to thinking about downsizing your home. The timing is right to weigh the benefits and drawbacks of purchasing a condo and downsizing, whether you want to live in a 55+ community or recently sent your last youngster off to college.

There are vast differences between 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.

A condominium might cost more or less per square foot than a single-family residence, depending on the market. Market conditions will also affect how much your property appreciates. In rural settings, single-family homes with land typically value faster than condos of comparable size. However, condominiums in a metropolis might appreciate more quickly than single-family residences located distant from the action.

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 in, there is also security on the grounds, either with 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 about 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.

It might be time to think about moving to a place with less maintenance if one of your motivations for reducing is the degree of yard work and repairs that come with owning a home. Frequently, condo organizations are in charge of lawn maintenance, snow removal, and other necessary exterior home repairs. Additionally, these services are frequently included in the needed monthly condo costs, so you won’t need to watch your pennies for repairs.

Even before moving into your condo, make 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 associations have rules about the noises that neighbors make in their own units.

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 if you can keep a washer/dryer in your unit before moving in.

You will likely have to pay additional fees and comply with the condo association’s pet rules if you own a condo. Ask about the pet regulations before buying a condo because not all buildings will permit animals. Also bear in mind that due to their size, activity requirements, and need for the outdoors, living in a condo with a pet can be particularly challenging.

Since some condos have pet restrictions, you should also get information about this beforehand as well. One condo dwelling may require that your pet is 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.

Share:
Written by Margarita Hakobyan
Margarita Hakobyan is the founder and CEO of MoversCorp.com. She has published more than 300 articles about moving, storage, and home organizing, making her a moving specialist since she began writing about the moving industry in 2005. Follow her on LinkedIn and Twitter.