Thursday, September 21, 2006

Condo Buyer's Look Out

Buying a condo in a high-rise is getting to be a popular way to break into the home ownership market. Newly built condos and/or renovated condos tend to look fantastic, but you have to be ready to investigate your location in the building. Condo's can house a ton of hidden problems that you can avoid if you look out for them. If you already own a condo than you might know what Im talking about. For example, I was reading an article in the Chicago Tribune , a home inspector was telling a story about a client who was distressed to discover that the garbage chute in his new condo building made a 45-degree bend right outside his unit, near a common wall. The condo owner would hear cascading trash hitting the chute wall all night. Ouch~! I wonder if he'll disclose that in the re-sale of his condo?

What if a homebuyer moves into a condo that is next to the Elevator. "Ding~!" Everytime a neighbor goes up and down from/to the lobby?

What if a homebuyer moves into a condo that is next to an EXIT door to the parking garage. "Squeek, Slam, Chatter" On the way out of the door to get to the car?

What about parking - If the condo includes a parking space, I'd suggest trying to get a spot on the 1st or 2nd level. Why circle down and drive up to your parking floor everytime you leave the building?

If you think of some other hidden problems in buying a condo - please comment.

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