If you are trying to find the best property for your client, you may be thinking about a condo building. Because there are lots of condo buildings available, you need to be able to cut through the flak to find the diamonds in the rough.
Even though some condo buildings are beautiful, others might be better left to someone else. How can you help your client find the best condo building available? Take a look at several important tips below.
Think About the HOA Fees
First, you need to think about potential HOA fees associated with the condo building. Of course, condo buildings are typically going to have higher HOA fees when compared to a home single-family neighborhood; however, you also need to think about what the HOA fees include.
For example, there is a chance that these fees could include utilities, which might be helpful. Furthermore, if the condo building has a bunch of nice amenities, such as a gym or a pool, the HOA fees may be worth it to some people.
As a result, you need to take a look at the HOA fees, see what they cover, and weigh them carefully with the price of the unit.
Consider the Floor of the Unit
When you are taking a look at units, you need to think about the floor on which the unit is located. For example, there are lots of people who prefer to be on the top floor because I do not have to worry about hearing footsteps above that.
In other situations, people might prefer to be closer to the ground floor because they can get in and out of the building more easily. Think about what your clients might prefer.
Then, take a look at the units that are available. The floor of the unit can make a significant difference in how well it might work for your client.
Think About the Parking Situation
You also need to think about the parking situation. Where are people going to park their cars? Ideally, your clients should have an assigned parking location.
That way, they do not have to worry about someone taking their spots. If there are no assigned parking spots, this might be an issue. Some spots might be better than others, and other spots might require an extra fee. Make sure you understand how parking works.
You also need to think about the security of the building. Do people have to worry about getting their cars broken into? How safe is the parking garage? Or, are people parking on the street?
Identify What Is Covered by the HOA’s Insurance Policy
Next, you need to figure out what is covered by the HOA condo policy. Even though your clients need to have a strong insurance policy for your condo, they should not have to pay for protection twice.
A portion of the HOA fees are going toward the condo insurance policy, so clients need to make sure they only cover areas that are not covered by the HOA insurance policy.
If you take a look at the best condo management software program available, you should be able to explore the details of the condo building’s insurance policy. That way, you can figure out what is already covered, and help your clients figure out what they need to protect.
Consider the Amenities in the Area
Finally, you also have to think about the amenities in the area. When people decide to go out, where do they usually go?
Are there a lot of restaurants in the area? Is it relatively easy to get to shops? A lot of people like living in a condo building because it is relatively close to the downtown area. Is that the case with this building?
Are there plenty of entertainment opportunities available? Think about the type of lifestyle your clients like to lead. Then, see if the condo building allows them to lead that lifestyle.
Find the Right Condo Building for Your Clients
In the end, there are a lot of condo buildings available. Therefore, you need to think about the benefits and drawbacks of each unit. You need to make sure you find the best possible unit for your clients, so remember to take a look at every available condo building to see if there are units for sale.
You might also want to talk to other real estate agents to see if they know of any available units in the near future.