What You Should Know Before Buying a Condominium
Buying a condo in Cheras, or anywhere else in Malaysia, is an excellent way to become a homeowner without having to deal with the maintenance that comes with single-family homes and town houses. Condo owners frequently have access to communal amenities, and the condo association is in charge of building maintenance. Condos, on the other hand, are not for everyone, so you should first assess your lifestyle and financial needs.
Condo organisations are often in charge of common areas. Typically, the association operates as a supervisory board and hires a property management company to handle maintenance, resident communication, and other tasks. Condo owners are responsible for their own property taxes, utilities, and upkeep, as well as, depending on the neighbourhood, outside care on occasion. The demands of each property may need a different type of condo association. Some may demand additional fees to cover shared expenses, such as unexpected building repairs or condo board-approved new additions.
Consider your way of life.
Do you despise mowing the lawn and pruning the hedges? Are you concerned about the expense of installing a new HVAC system or a new roof? If you answered yes to any of these questions, condo living may be for you.
A town house or single-family home may be a better option if your desire for a large backyard outweighs the effort necessary to maintain it. Similarly, if sharing walls, ceilings, or floors with a neighbour is an issue, a condo may not be the ideal choice. Condos are ideal for folks who are content with the majority of aspects of apartment living, except for the built-in upkeep.
Make a list of the amenities you want.
Condos can include a variety of characteristics. Make sure to discuss the types of amenities you want with your Realtor, as well as other factors such as location and pricing, so you can choose the ideal home. When you buy a unit, you have access to these amenities, so don’t be afraid to put them on your wish list.
Keep in mind that things you won’t use, such as a pool, may still be worth having because a condo that lacks the facilities of others in the neighbourhood may fetch a lower sale price when you attempt to resell.
Look into the property management company.
Because you want your apartment to be well-kept, you need to know who will be in charge of its upkeep. It can be inconvenient to pay HOA dues only to have the facilities fall into disrepair, and poor management can reduce the value of your house or raise your HOA dues.
Inquire about who is in charge of day-to-day operations while viewing condominiums. If you have any questions regarding who handles resident requests or community regulations, you may contact the property management company directly. Consider performing your own research on the firm’s reputation, such as learning about other projects they manage and interacting with board members to see if they are satisfied with the firm’s services.