A Few Important Things You Need to Know Before You Purchase Luxury Condos

Posted by Terri McAuley on Monday, January 23rd, 2017 at 1:39pm

Questions About Luxury Condos

Approximately 92% of people use the internet to assist in their home search, but the real test is actually going to visit the real estate listings that you've picked out. It may seem obvious, but there's usually a big difference between seeing photos online and actually visiting a place that looks appealing. Whether it's your first time looking at a condo for sale or your fifth, it's very important to know what constitutes a great luxury condo. You don't want to get stuck with a lemon.

To help you along in your real estate search, here are a few extremely important questions you need to be asking when it comes to condos.

What Are the Biggest Complaints? 

One of the most important things to know about a condo for sale is what their problem management looks like. If you can talk to a few other owners and see what it's like to have a certain issue and how long it takes to get it fixed, you should get a pretty good idea of how effective the management is there. Try to get these owners alone, as the presence of agents, sellers, or building management might make it difficult for them to be frank with you.

How Is the Management Team?

Above all else, you'll want to make sure that the team running this luxury real estate organization is competent and compassionate about all their residents and their needs. Beyond talking to the team members themselves, make sure you talk to some of the current owners. Some new owners are woefully surprised to learn the ways in which bad management can make even the most luxurious condos seem like a terrible experience to have. Be smart and ask first.

What Are the Rules?

Before you sign any papers or pack any boxes, make absolutely certain you know the rules of the condo community you're moving into. If there's a Chicago condo for sale, you have a dog, but dogs aren't allowed, then that's something you need to know before anything is set in stone. You don't want to lose your pooch because you didn't ask. Many condo buildings have their own sets of rules set by managment or the strata council, so don't make any assumptions about what you can or can't do.

Are There Any Other Fees?

Just as you need to know all of the condo community rules before you sign any paperwork, you need to know what all of the fees are and if you've paid them. If you don't take the time to ask about this, you could be in for a world of trouble with hidden fees sucking money from your wallet. By asking, you can be sure to plan your budget accordingly and make sure that you don't get stuck with a condo that you can't afford.

Looking at a condo is one thing, but asking the right questions while you're there is absolutely key. Don't forget to ask! And be sure to contact Terri McAuley with any questions you might have about Chicago luxury condos for sale.

By:  Terri McAuley

Chicago Condos for Sale

Cell: 312-330-3211

“Chicago’s Luxury Condo Specialist”

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