Buying a condo might take up all your life savings. Thus, it might come as a shock that most folks end up buying the wrong place for themselves. Often, they get overwhelmed by the various amenities the building offers, they end up investing their hard earned money in the wrong place. Increasing construction projects mean more condos to choose from. However, this can get a little confusing at times. You might end up overlooking your budget and realize you cannot afford it when it is too late. Upfront payments are fine since they are one-time payments that you have saved up for years. However, when it comes to the maintenance rent and various other charges, then only you realize you can barely afford it.
Take our advice and avoid these common mistakes while buying a condo:
Failure to Research Builder’s Reputation:
A common mistake that most folks make is that they blindly trust a big name builder or simply put no effort in knowing the builder’s history. Checking for reputation and history can help you avoid numerous problems in the future. Research the builder online. Find out about their previous projects, and how they fared. Find out how many warranty claims they have been put under and what licenses they have. Most often, builders are bound to make the same mistakes again. If one project had a faulty cement job, chances are all the others would too. Checking would be a sure-fire way of testing your builder’s credibility.
Famous Builders tend to slip away as away. Condos such as Sugar Wharf Condos are under construction, so you might not know about any evident poor job. However, their developer, Menkes Developments Limited is a well-known developer and thus you rest assured about the quality of living. The building is surrounded by serene views with parks, gyms, cinemas, and terraces. A quick search into their history let you know the investment will be a safe one since most of their projects have been highly successful.
Building Amenities Details are Overlooked:
Check for the amenities the building has to offer. Sure, the pamphlet might say the building will have a movie room, but does that mean a mini-cinema or just a small room with a TV and some seats? Look at the amenities that fit you and your hobbies correctly. If you love to swim, look for a bigger sized swimming pool. If you love working out, ensure it has a fully functional gym. Look at all amenity drawings and find out the specific details through calls or emails.
False Green Claims:
A green building means a building developed through standards that are not harmful to the environment and that the building would not harm the environment afterward as well. However, most builders have false green claims or claims that do not hold any weight. Ensure all claims to being eco-friendly are legit and that they live up to high standards of environmental safety. LEED Standards are the most common standards. Check your builder for a LEED Certification/
Not Focusing on the Long-Term Experience:
Since you will be living in the condominium for a long time, ensure that all amenities and services meet the highest quality standards. You can always ask questions like how long would it take to fix a clogged toilet or a burst pipe? Alternatively, if your fridge needs maintenance then how long will it take for the maintenance? If they answer with anything more than one business day, take your business elsewhere. Ensure the staff is welcoming and open to questions and that they care about the residents.