5 great tips for buying a condo

5 great tips for buying a condo

Condo Living, News, Real Estate

There is a limited supply of good condos in a good neighborhood. Buyers compete for attractive and well-priced units. It is, therefore, important to be knowledgeable before buying a condo. Here are five tips that can help you in buying a condo.

Get pre-approved in advance

You should find out what you can afford. You can go to a mortgage specialist and get pre-approved in advance. This will allow you to know whether you can afford it and how much you need to save up to pay the down payment. By getting pre-approved, you will narrow down your search for condos.

Start with small

You might be approved of a big condo, but you need to decide whether how much money you should spend in your first home. You shouldn’t tie yourself up in paying a huge amount of mortgage. So, it is better to start with something small first.

Know about the deposit structure and interest rates

For buying a pre-sale condo, you need to put a down payment on a condo that you won’t be living in for 1 to 3 years. The down payment is usually 5%. So, you have some time to keep the rest of the money in the bank and gain interest.Some builders partner with mortgage brokers and agree on paying the same interest rate today and the coming three years when you take possession of the condo.

Do research

You should do thorough research before buying your condo. The design and decoration are important, but so are the amenities. You should do research on the neighborhood before buying a condo.

Be flexible

You should be flexible with your options for buying a condo. For example, if you think you might need more space in the future, then it’s better not to buy a studio condo. If you think of selling your condo in future, then you should by something that will give you good resale value.

Buying condo is a big decision. You should take time before making your final decision. You can talk to realtors and discuss your needs. They can give you good advice.

5 reasons to hire real estate professionals for buying or selling home

5 reasons to hire real estate professionals for buying or selling home

Condo Living, News, Real Estate

Buying or selling a home is an adventurous journey. It is one of the ultimate goals in life. When buying or selling a home, it is important to hire a real estate professional. Here are the reasons why.

Courtesy of https://visual.ly/first-time-home-buyer-tips-how-buy-your-first-house

The paperwork

Every state has different regulations regarding buying or selling a home. These regulations are changing all the time. A real estate professional is knowledgeable about the market and can guide you through all the paperwork needed to buy or sell a home.

Help you in every step

After you have found your dream house, there are lots of steps you should take before finally buying or selling the home. A real estate agent will help you in every step. They know the actions that need to be taken and will be able to guide you.

They are good negotiators

When buying or selling home, it is important that you negotiate the price and conditions. A real estate agent will help you to negotiate with different people who are involved in the buying and selling process.

Get the correct price

A real estate agent knows about the market, and they know the price of homes. They can give you a good value for your home. They can help you in finding a house within your budget.

They have all the market information

The real estate agents know about the homes that are available in the market, their prices, mortgage rates, etc. They know about the neighborhood, amenities, and more.

When making a big decision like buying or selling a home, you should take the help of someone who is experienced in the field. You will also learn many things from them which will help you in future decision making.

What to Consider When You Invest in a Home Alarm System

Condo Living, Real Estate, Uncategorized

A security alarm system is a must have for every home. They are not only essential for homeowners who live in areas where the crime rate is high, but also for people who live elsewhere.

3 Reasons why you should have a home security system:

    1. To keep unwanted people out
      When the alarm system goes off, the thieves will immediately leave the premises before the authorities get there. Common crooks rarely break into houses which have alarm systems. They scare the bad guys away.
    2. To have the feeling of sense of security wherever you are
      Peace of mind that your house and everything in it is safe makes you have a relaxed day. You will be able to concentrate on your work more and be more efficient. If you have traveled, you will be able to enjoy your vacation more knowing that you will find everything in your house as you left it.
    3. Enables remote access to your home

You can have cameras installed in and around your home to see what is happening in the premises. This lets you know who came over when you were there not just burglars.

Disadvantages of the alarms:

  1. False alarms
    It is estimated that around 80% of the times the alarm goes off is usually a false alarm. The alarm may be triggered by so many things. Motion detectors and sensors may be triggered by stray cats and dogs.
  2. High cost of installation and maintenance
    It is relatively expensive to invest in a home security system. You are charged upfront for equipment, installation and activation fees. Also, you are charged a monthly monitoring fee if you decide on a monitored security system.
  3. Response time may be slow
    If you are living in a big city, it might take the authorities more than 30 minutes to get to your house after the alarm goes off. This gives the burglars enough time to finish up stealing what they need and leaving with no hurry.

Common types of alarm systems suitable for a home:

  1. Monitored security systems
    They consist of a 24-hour surveillance of your home by a security professional from a security company. When the security personnel realizes that the security of your home has been compromised, they immediately contact the authorities. The authorities get there in a shorter time compared to if the system was unmonitored.
  2. Unmonitored security systems
    These work on loud sirens. When the alarm goes off, the sirens immediately go off alerting everyone around that area that security in your house has been breached. The sirens can also be fitted with flickering lights to draw more attention. The burglars are then scared off.
  • They don’t have monitoring fees attached to them making them a bit cost effective.
  • Unmonitored systems can be a nuisance because of their noisy nature in the case of frequent false alarms.

Make sure you do your homework when buying a home alarm system. There are a lot of options that we simply can’t discuss in one article on our blog. Visiting a website such as HomeSecurityCompanies.net allows you to read actual consumer reviews of most of the top home alarm companies.