There are many housing options available in the world and if you are planning to buy property, then you should be aware about all of them. Condos are one of them and are available in Park Colonial Woodleigh Lane. To know more about condos read ahead.
What is a condo?
A condo, whose full form is condominium, is a kind of property divided into many small sections. The various units are surrounded and owned by the areas common for all as they are jointly owned and managed either by a community or a group of people.
When constructed for residential purposes, they are built in form of apartment buildings but today as the new trend flows, “detached condos” are becoming more common. The new form of residential real estate, the detached condos, is homes for housing single families. In such a building, the building exteriors, streets and yards are cooperatively owned and maintained by a community or association. They are unlike apartments,which can be rented or leased by the inhabitants, while condos are owned and can’t be rented. In the house all the areas like hallways, laundry rooms and walkways are jointly owned. The common amenities and utilities such as the elevators, HVAC system too are part of the scheme.
What should you look for before buying a condominium?
Here are a few things which you need to check in a condo before making the final payment-
- Reputation and history-You should take a glimpse in the developer’s history and reputation. It will be better if you will look into the track record of the developer.
- Quality of building and workmanship– The building of condo is carried out in two ways; first, the developer is the owner of the building company and the soul responsibility of construction lies on his shoulder. The other one is in which the developer hires a construction company for the purpose of construction. In the second case the choice is based on the money and as you know, the builder will definitely go for his profit. Do check the method of construction before final purchase.
Armed with this information you are ready to purchase property.