Things To Consider Before Buying Property in the City
Just like any property, location is a very important thing to consider. Make sure that your potential home as access to public transport, commercial centers, and of course, your office. Another think you should check is if your unit is soundproofed; visit it at night when your neighbors are most likely to be home with their TVs on. You definitely don’t want to hear what’s going on in your neighbor’s apartment.
Ask the condo or building management if how many units are occupied and how many are leased out to renters. It’s also a good idea to see if the condo association, management, or developer is being sued or is suing someone.
Finally, in terms of resale value, a condo usually goes for a higher price than a co-op with similar size and location. This is because owners don’t want to go through the hassle of obtaining board approval for potential buyers.