A Piccadilly Grand condo is an excellent opportunity to move into homeownership without worrying about the maintenance of single-family homes or townhouses. Condo owners can typically take advantage of shared amenities and the association of condos will take care of building maintenance. The condo doesn't need to be your primary residence. If the association permits rentals, a condo can be an investment option that generates rental income.

Think about your lifestyle

Are you tired of mow the lawn and trimming the hedges? How do you feel about cleaning your driveway with pressure. Are your finances such that the cost of laying out an additional $5,000 to replace your roof could be a burden? Condo living could be the best option for you if the answer is "yes" to these questions.

However, if your desire for a huge backyard outweighs the time you'll need to manage it, then a different type of home could be a better option. A condo, which means you'll be living on top of your neighbor's walls or ceilings and floors could not be the right choice suitable for you. Condos work best for people who are comfortable with the majority of the aspects of living in an apartment with the exception of the built-in maintenance.

Choose a Realtor who is knowledgeable of the condominium landscape

If you've decided that buying Piccadilly Grand is for you, it's important to locate a real estate agent who has your best interests at heart. You'll need someone with expertise in condos and can answer any questions you may be having and help you navigate essential steps like looking over the condo association's documents.

Agents need to be knowledgeable of the current issues and developments in the condo community. Things that could adversely affect your living in the condo could be problems with community finances, as well as problems with infrastructure or structure in the community's buildings or structures, or the rules you can't abide by. If there's been any discontent with the community, a good agent can provide you with the information. They'll also be able to tell which developments have fared best in terms of resales values, which is especially important. If the Piccadilly Grand isn't your permanent home, you're going to want to maximize its value when you decide to sell it.

Decide what amenities you want to include

Condos offer many facilities. There are basic options that only cover snow removal, but other options include the use of outdoor grills, gyms and other luxurious perks.

If you're working with your Realtor discuss the amenities you'd like in addition to factors like location and budget. You're buying access to these amenities when you buy your property and therefore don't be afraid about putting them on your list of priorities.

Locate a FHA-approved condo

Getting a mortgage for a condo might be more involved than other types of properties. This is due to the condominium construction itself, as your personal finances will be scrutinized once you seek the loan.

It is recommended to get the help of a mortgage professional with condo experience to find the best financing option to purchase your condo. On its website on the Federal Housing Administration (FHA) which is the agency that provides insurance for FHA mortgages, offers an approved list of condos. Conventional lenders may have similar requirements to those of the FHA however, if the condominium isn't FHA-approved you might not be able to qualify for an ordinary loan.

Find the right property management firm

It is crucial to determine who will be responsible for maintaining the property. It's frustrating to pay association dues only to see the amenities become deteriorating, and poor management can possibly affect the value of your home or cause your HOA dues higher.

Find out who oversees the day-to-day operations of condos when you visit the condos. The property management company should be consulted regarding rules and requests from residents. You should do some research on the company's reputation and also discover what other projects they handle, and talk to board members to find out if they are satisfied with the services provided by the company.