High-rise residential units with the likes of Casa Tropicana have become very trendy in the recent past. This popularity has resulted from the high prices as well as the scarcity of land. These factors have left developers with no other choice but to invest in high-rise condominiums. Living in a high-rise is always fun and prestigious, but it also has a down side to it. Here are the chief factors to consider before buying a high-rise condominium.
What You Should Take Note Of When Buying A High-Rise Condominium
Land Status
High-rise Condominiums can either be located on a commercial or residential land. Buying a unit on a high-rise property located in a commercial piece of land means you're subject high rated bills in terms rent, assessments fees, and utility bills. This is contrary to a residential set high-rise which is relatively cheaper.
Location
When looking for a high-rise condominium to live in, its location is a very critical aspect. Deciding on the preferred location will solely depend on one's preferences and needs.
Choosing one located near education institutions like public schools may be ideal if you have schooling children living with you. You might also decide to settle for one that is established near shopping malls and or a market for convenience and ease of access, Or would you be well off in a more established residential neighborhood? Also, one located near your place of work is ideal to avoid the inconveniences of rush-hours.
Where to stay; up or down?
Another aspect of location to consider is where to reside within the high-rise building itself. Having young kids or elderly persons around may dictate that you choose a unit in lower floors to avoid time wastage and too much reliance on elevators. On the other hand, if your prefer waking up to a refreshing scenic view of the world around you, then higher placed floors are your thing.
Car Park
When buying a unit on a high-rise condominium, it's always wise to consider one that well suits your parking needs. This ranges from security all the way to the location of the car park. Factors to take note of are whether it's elevated or not, whether it's underground or outdoor. If the parking lot is located outside, it should have covering or shade.
Check to see how many slots are allocated per unit. In most cases, two slots are assigned to every unit, and you'd have to pay for ar rent any additional parking space if you own more than two cars. You also should be in the know whether there are any limitations with respect to the length and height of your vehicle.
Refuse area
Most high-rise condominiums are designed to have a refuse/waste room or chamber at every floor for convenience and cleanness purposes. You should check to see the exact location and condition of the one on your floor is satisfactorily good. You surely cannot compare the cleanliness level of the waste chamber to that of your living room, but it should be clean enough to eliminate any health hazard.
Air-conditioning and lighting
Apartments on the lower floors have relatively limited ventilations and light supply compared to those on higher floors. Also, they are known to have considerably higher mosquito intrusions. Some apartments may have free air conditioning facilities put into place to attract buyers.
Facilities
Amenities also play a vital role in decision making when looking for a high-rise condominium. Almost every condo comes with ample facilities such as a gym, a swimming pool and a community hall among others. It won't hurt checking the condition and usability of these facilities. Check to see whether they are well maintained and adequately equipped. It will be a waste if you're getting charged a maintenance fee for nonfunctional equipment.
Maintenance Fees
In most high-rise residences or condominiums, every person is subject to a monthly maintenance fee of specified amount that may vary with time or circumstances. The fee is used to cater for repairs, upgrades, and maintenance. Maintenance fees for older properties tend to be higher because the aging state of the buildings requires more maintenance practices.
Larger condominiums will have more facilities such as multiple lifts, swimming pool, gardens, terraces, and gyms. These facilities increase the need for the regular maintenance practices hence higher cost.
Security
When looking to buy a high-rise condominium, you ought to consider the security and safety of the environment to make sure it's conducive and ideal for you and your family. Make sure it's well-guarded with enough security personnel plus modern day security installations. Check to see how many guards are on duty both during the day and also at night. Ensure areas like the parking lot also have been assigned the best possible security.
Make sure there are no cases of robbery and break-ins in the neighborhood to guarantee your safety and well-being.
Elevators
Normally, there will be at least two standard high-speed elevators in every high-rise building. One must carry out necessary inspections to make sure they are built and installed in a standard way following all rules and regulations related to installation, usage, and maintenance of elevators. One must know that the higher the floor is, the longer the time it will take to reach their destination. Sometimes, the elevator has to stop over in different floors before getting to your floor which might be an inconvenience to if you're always in a hurry.
Fire fighting equipment
The buildings should have modern day fire-fighting system and equipment as well as a fire alarm installations put in place. Emergency fire exits are a must have. A buyer should ask for the fire control certificate to ascertain that these measures are put in place.
Though the choice is bound to be majorly based on the personality and needs of the buyer, these are some of the key factors that will act as a guidance reference point when buying a condominium unit, regardless of whether it's for use as a private residence or investment.
