As young professionals move into the area, there’s an increasing demand for condominiums. Millennials, singles, and younger couples with small children want quick access to public parks, shopping, entertainment venues, and workplaces, which makes sense. Buying a condo in the Overland Park area may be more affordable than purchasing a single-family home in the same area, and with included maintenance, buyers will have more time for other pursuits. Below are several things to know before viewing local condos and homes for sale.
Set a Budget
Although a particular condo or home may seem perfect, a potential buyer shouldn’t fall in love before setting a spending limit. By getting pre-approved for financing before starting the search, a buyer will know just how much they can spend.
Work With a Real Estate Agent
Sellers pay agents’ fees, and buyers should work with a professional when they’re searching for a home or condo. Brokers and agents will oftentimes be familiar with neighborhoods and condo buildings, and they may be able to offer valuable insight. Furthermore, real estate agents with T.J. Lamb Real Estate know which questions to ask to help buyers ensure that they don’t end up in a money pit.
Set Priorities, But be Flexible
Most condo and home hunters make wish lists, which can be rather lengthy. For example, some people want a home near a public transportation route, or they want certain amenities such as a pool or fitness center. While it’s good to have a wish list, it’s a clever idea to know what to give up. As in other areas of life, when buying a home, sometimes one must give a little to get a little.
Know About the Building
Potential buyers can uncover emerging or current problems in condo buildings by reading the minutes from the most recent meeting. These notes can tell buyers about residents’ complaints and the steps the board is taking to address them. It’s also important to learn about monthly condo fees and their periodic increases, as a drastic yearly increase may indicate the management’s unwise financial management practices.
What’s the Timeline?
If a buyer is in a personal or professional situation that may have them moving in a few years, they should consider resale value when buying a condo or home. While one may think they only need one bedroom and bathroom, buying a slightly larger home may help with a future sale.
Finding the right condo for the family can be exciting. While buying a new home opens many possibilities for a person’s future, it’s essential to have professional help during the search. Call today or view TJLamb.com for more details.