There are some important steps to finding and buying a home. Working with The Real Estate One Family of Companies, I can make your experience easier. Use our tools to make your search easier and follow these steps toward homeownership.
for the week of February 8th
The Pros and Cons of Condos
Condominiums and townhouses offer an affordable option to single-family homes in most areas. But consider these facts before you buy.
- Storage. Some condos have storage lockers, but usually there are no attics or basements to store belongings.
- Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you hate yard work, this may be the perfect option for you.
- Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.
- Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home.
- Security. Many condos have keyed entries and or even door attendants. Plus, you’ll be closer to other people in case of an emergency.
- Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees agreed to by the condo board, whether or not you’re interested in the amenity or not.
- Resale. The ease of selling your unit is more dependent on what else is for sale in your building, since units are usually fairly similar. Single-family homes usually are more individual.
- Freedom. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.
- Proximity. You’re much closer to your neighbors in a condo or townhome. If possible, try to meet your closest prospective neighbors before making a decision.
Step One: Loan pre-approval.
The biggest advantage buyers have when negotiating a home purchase is loan pre-approval. To learn about the benefits of pre-approval before you make an offer, please contact me.
Step Two: Know what is available.
Real Estate One’s HomeMatch service lets you choose the home features that are important to you. As your agent, I watch the market and contact you when homes become available. This is one of the most efficient ways to keep ahead of the market. To get started, please click here.
Step Three: Use all the tools.
Browse available listings, properties with Virtual Tours, and open houses. With the Real Estate One Family of Companies and my website, you have access to more virtual tours than any broker in Michigan. Another option is to phone Infoline at 888-736-LIST to hear detailed information on properties by providing an infoline property code found on yard signs and in various newspaper ads.
Step Four: Secure your mortgage.
Once you have found your home, your pre-approval will speed the process of completing your financing and quickly getting you into your new home. To learn more, please contact me.
Step Five: Take it easy!
Take the easy route to moving by letting me help plan your move. In addition to moving services, I can help with all the resources you need to make your home purchasing and ownership experience a great one. For more information, please contact me.