Things To Look For When Buying High Rise Condos
High rise condos are all the rage these days. Especially when they offer stunning views of the local landscape. Whether you're buying high rise condos in a major city or somewhere with a view of the ocean, there are a few things you should look for when choosing your condo, in order to find one that meets your needs best.
Depending on your location, parking can be a major issue for high rise condo owners. Many condos offer dedicated on-site parking spaces for each residence. However, others offer limited parking availability for a hefty fee. Some may offer no on-site parking at all, requiring tenants, instead, to seek parking structures nearby. Make sure you know what's available for parking with your high rise condo as well as what is included in the base price of your condo.
You can tell a lot about the management of a specific high-rise condo building by the condition of the public spaces within the business. Is it well maintained? Are the walls freshly painted? Do all the elevators work? How about the lighting in these public spaces? Consider visiting during the day and night before deciding so you can see for yourself what the building is like at different times of the day, especially the public spaces.
Maintenance, HOA, and Other Fees
The cost of a high rise condo unit alone can be substantial. For most units, though, it is only a fraction of what you'll actually pay. There are plenty of other fees and costs related to buying a high rise condo unit you'll want to consider, including monthly maintenance fees, homeowner's association fees, and other miscellaneous fees like garbage removal, window cleaning, and more. Keep in mind that the more amenities your high rise condo community provides, the greater these fees are likely to be.
Amenities in a high rise condo are more than what you'll find in your individual unit. For instance, you may desire a gourmet kitchen with professional-grade appliances, granite countertops, marble floors, and state-of-the-art security and "smart-home" features. These things all add to the cost of your home. Other amenities are community features and may include things like a high-tech fitness center and sauna, a rooftop pool, on-site gardens, etc. These are community amenities that can add significantly to HOA fees and maintenance costs for residents.
Choosing a high rise condo can be a risky venture if you don't take these critical factors into account when making your choice. Other considerations include building and personal security, building age, and how active and engaged the HOA is in the lives of people who call the condo home.