Audrey
The population of most large cities across the globe consists of those who were born within its boundaries, along with many others who are attracted by the prospects of better paid work, as well as being able to find lots of things to enjoy, with the enticement of a better quality of life. Whatever the situation someone finds themselves in as they enter adult life and start climbing a career path, they will require somewhere nice to live.
While there are some who are quite happy entering a rental agreement, there are many others who want a more permanent arrangement so that they feel secure and can make plans for the many years that follow. That usually means purchasing a property, with those in Bangkok preferring a condominium perhaps viewing The Line Vibe. Here are some important errors to avoid when purchasing a condo wherever in the world it is located, but particularly in a big city. This article highlights them.
There are countless stories of those who have found what they think is the perfect place to live, but within a year they are desperate to sell and move on because they have failed to plan properly and ask the right questions of real estate agents or by researching online. This is totally avoidable, especially with so much information that can be easily obtained, as well as being able to visit locations first. Moving into somewhere can be extremely stressful to begin with, so creating negative emotions once an owner, should be avoided at all costs.
One of the most common factors which lead to regret after a serious error has been made, is that the owner, while full of dreams and aspirations, has failed to budget properly and account for the finances that are required. It is vitally important to guarantee that any money coming in along with savings is enough to meet the repayments and any monthly bills or service charges which can be easily overlooked. Checking out a property first and speaking to experts will ascertain just how much maintenance might be required, which also adds to the money being spent. Not checking everything that may be assumed to be included in the price, can also lead to many woes.
Even those who make the repayments can see their quality of life severely affected if it takes up all their income each month, leaving them with nothing left to enjoy free time properly as well as being able to buy food and clothes. One of the attractions of moving to a vibrant city is all the fun it can provide, so not being able to indulge in it is a cardinal sin. Budgeting properly and putting a financial plan in place should be top of the list before any purchase is made as well as remembering some interior design trends that might wish to be included later.
Poor planning can also lead to the wrong location being chosen, which is totally avoidable, while often created by simply listening to the patter of a salesperson rather than taking the time and trouble to visit and check things out first hand. Things such as travel time from the condo to work is well worth finding out by making the journey several times, during peak hours, daytime, and again at night as all can be very different. Once satisfied with that, ideally by an excellent public transport system, the visits should include different times of the day so that safety, security and what is done in the neighbourhood can be assessed. Those who find themselves stuck in heavy traffic for several hours a day can see the quality of their work dropping in standards which can lead to issues, as well as their general health and demeanour suffer.
How a big city operates during the day and night can be completely different. For instance, in hotter countries as found in southeast Asia, many come alive after 5pm because it suits the residents be out having fun when it’s a bit cooler. That can lead to an increase in the volume of people near a condo, and with it the noise that they generate. If there are entertainment venues nearby, then this can be multiplied many times over, which is why several visits are advised. Of course, it can also provide many benefits for those wanting to enjoy embracing local culture, visit night markets, and sample local cuisine, but that’s not for everyone.
Then there is the inside of the condo to consider. Does it have the space required, perhaps for a home office for someone who may consider registering a business. Those who make the purchase without checking out such things can find they have not enough room, or it has a very poor Wi-Fi connection which then requires extra spending to put right. Another mistake that can be made is not finding out expert guidance on any nearby future developments which might depreciate the value of the property. For instance, if a new block goes up and blocks out a magnificent view, it takes away much of the attraction which led to a purchase and will see its resale value drop drastically.
A condo can be a superb investment, but it is important to research thoroughly and ask plenty of questions to prevent huge errors being made, which can lead to serious financial and health implications, which are easily avoided.
