When you are considering purchasing Real Estate for your BVI VACATION home, condos provide an affordable option to single-family houses in many areas. They’re perfect for people who like a maintenance-free lifestyle. But before buying, ensure you must do your legwork. Here are some fundamental points to consider:
*Storage. Some condos have storage lockers, However you will not usuall find any basements or attics to store your extra possessions.
*Outdoors space. Yards and outdoor areas are often smaller in condos, if you enjoy relaxing in a garden or entertaining friends outdoors, a condo may not be the ideal place for you. However if you dread working in the garden, this may be the perfect option for you.
*Amenities. Many condos have pools and fitness centers, together with other facilities that would otherwise be very pricey in a family home.
*Maintenance. Many condos have on-site maintenance personnel to take care of communal areas, carry out repairs within your unit, and let in workers when you’re not home – very good news if you travel a lot.
*Security. Keyed entries and security personnel are common in many condos. You’re also closer to others just just in case of emergency.
*Reserve funds and association payments. Although these payments generally go towards amenities and offer savings for future repairs, you will have no option but to pay the fees determined by the condo board whether you are interested in the amenity or not.
*Resale. The simplicity selling your unit may depend on what other condos are for sale within your building, due to the fact that all units are usually similar.
*Condo rules. Although there is a residents election, the rules of the managing association will affect how you use your condo. For instance some do not allow home businesses, others prohibit pets while others do now allow owners to rent out their condos. Ensure you are fully aware of all the restrictions before you make the decision to purchase.
*Neighbors. You’re much closer to others in a condo. wherever possible, make an effort to meet your nearest prospective neighbors.