Buying a Condominium: What to understand About Condominium Associations

Condominiums can be a superb house ownership option for a lot of people today. The lowered maintenance and shared neighborhood space are appealing to numerous kinds of purchasers who also desire to personal their very own dwelling. But condominiums also come with in-depth legal frameworks. If you are thinking of purchasing a condominium, you need to initially make yourself aware of each of the structures surrounding condominium ownership to determine if it can be the ideal fit for the circumstance.

If you invest in a condominium, you are getting a personal unit inside the condominium complicated? fundamentally you personal anything within your walls. You will be also purchasing a share from the condominium at massive? the shared property. This shared property contains any prevalent space, including lawns, pools, and roofs. To keep this shared space, condominiums gather ownership costs or dues.

Condominiums frequently asses your portion of ownership primarily based on the size of the unit that you just buy. The assessment of the unit size as well as the expected upkeep of all shared home determines the association charge that you is going to be required to pay on a month-to-month, semi-annual, or annual basis.

The collected costs are employed to pay for the upkeep of shared condominium property, and can incorporate:

  • Lawn Services
  • Pool or club property maintenance
  • Roof, sidewalk, outdoor building repair
  • Road maintenance
  • Trash removal services

Condominiums are regulated by laws that might be recorded as well as the plat of land and unit division at the nearby land workplace. The condominium association is the legal entity that may be accountable for establishing and enforcing the bylaws. Whilst all unit members hold ownership of your condominium and are technically members of the condominium association, a board of directors commonly holds the powers in the condominium association.…

Surging Real Estate Scenario in India to Speed Up Building Projects

India is now turning out to be a lucrative destination for all kinds of businesses. Whether it is manufacturing, information technology, automobile or telecommunications, companies are gearing up to tap the potential in the market through newer strategies. Real estate business is not an exception. Actually, it is one sector that is least affected by the global recession. Property business in India is passing though a flourishing stage to open the door to unlimited possibilities for investment all over the country.

A recent surge in the prices of both residential and commercial properties in India has brought smiles in the faces of plot owners as well as builders. The majority of urban cities have witnessed a price rise of more than 250 percent in a matter of few years. A large number of commercial complexes, industrial parks, shopping centres and residential townships are being planned and established in all cities irrespective of their sizes.

Owning a house in Chennai is the dream of every Indian. As a result, many residential projects are coming up in this happening city. Egattur OMR (Old Mahabalipurum Road) project is going to give a tremendous facelift to the city of Chennai with the first large-scale integrated community hub. Spread over 110 acres of land, the project consists of residential as well as partly commercial buildings to satisfy wide-ranging requirements. Developed by Hiranandani Upscale, the state-of-the-art community is filled with all modern amenities strategically positioned at a walking distance.

The demand for properties in Hyderabad is not limited to a particular category, but has spread across many different categories such as separate residential houses, apartments with multiple floors and villas. The supply aspect is equally diversified with numerous choices in every segment like low-priced homes, premium housing and luxurious housing schemes. Mantri Developers is …

Top 5 Atlanta Condominium Amenities

While location and floor plan layouts might be the key to choosing your new condo, don’t forget about considering the amazing amenities of the condo property. Perhaps some of the best features of the condo-lifestyle are the resort-like amenities including: private club rooms with bars, 24-hour concierge services, private poolside cabanas, game rooms equipped with everything from pool to poker tables, valet parking, guest suites, etc. After scouring Atlanta for some of the best condo amenities we have compiled a listing of the top 5 to keep your eye out for when looking for your new condo residence!

1. Indoor and Outdoor Movie Theatres at the Paramount. A state of the art indoor theatre is just the beginning of celebrity-inspired amenities at the Paramount. Add to it the outdoor theatre capabilities where you can host a private viewing party while enjoying a delicious grilled out dinner and it’s over the top!

2. Putting Green and Golf Simulator at the Aberdeen. Golf lovers agree that being able to practice on this well-manicured putting green is key to improving their game. And when it is raining, being able to head inside and enjoy a state-of-the-art golf simulator makes this any golfer’s dream residence.

3. Saline-infused Heated Swimming Pool at the Ritz Carlton Residences. Overlook Buckhead, Midtown, Brookhaven, and Downtown Atlanta all while soaking in a luxurious resident-only pool with private dressing rooms and pool-side towel service.

4. His and Hers Saunas at Luxe. What could possibly be better after a hard workout or a long and stressful day at the office than a relaxing sauna? The his and hers sauna accommodations at Luxe provide a spa-like escape in your own home!

5. Expansive and State of the Art Gym at the Manhattan Condos. From new and diverse equipment to mounted …

7 Reasons for Buying a Condominium

Hi Everyone:

I’ve been invited to speak to a Heritage Group, comprised of retiree’s who are interested in learning more about the condominium life style. In preparation for this presentation, I’ve examined some of the main reasons what makes a condominium so popular, and some of the advantages that come with this life-style. By the way, condos come in different types.

So here we go: 7 Reasons for Buying a Condominium

1) A cost-effective alternative to houses.

I’ve just listed and sold a 700 sq ft bi-level home which received 11 offers and sold for well over $200,000. No garage, no appliances included, nothing fancy…a good solid house with a few upgrades. By comparison, there is an 1100 ft condominium, with central air and central furnace, insuite laundry and all appliances that will sell for approx. $165,000. For First Time Buyers, who are sick of the bidding wars, this is an excellent alternative.

2) Lifestyle

Do you like to travel? Or perhaps you’re both working full time and looking after the house and yard is a chore you simply don’t have time for? A Condominium offer a simple ‘lock-up-and-go’ lifestyle. In many cases, your neighbours won’t even know you’re gone,….unless you tell them.

3) No Yardwork

Getting tired of shoveling all winter, and mowing all summer? Is house and yard maintenance weighing you down, or simply getting away from you? In a Condominium, you don’t have to lift a finger. Walks are shoveled, grass is cut, garbage is picked up and halls and common grounds are cleaned and maintained. Just enjoy…

4) Security of a Condominium

A Condominium (especially Highrise Units) offers secure entrances, with security cameras and often even patrolling security companies. As a former police officer I can tell you that break-ins to high-rise condos are …

What Types of People Buy Condominiums?

Condo living is not for everyone, but it does offer many benefits. One of the biggest benefits is not having to worry about maintenance of the exterior of the unit and the grounds. For some people this is the ideal way of living. There are a few typical groups of people that love the condo lifestyle .

The Young Professionals

The first group is the young professional couple. These are people who lead very busy lives. Because of this, they don’t want to worry about wasting what little free time they have doing yard work. The condominium lifestyle offers them an opportunity to live in a property they own without worry over exterior maintenance. Often this group also enjoys the many amenities certain condominium complexes have to offer. From gyms and swimming pools, to community centers and spas, condo living can be a great place for young professionals.

Senior Citizens as Condominium Owners

The other prime group that loves condo living are senior citizens. This group traditionally has already had years of enjoying their time owning homes and caring for yards and gardens. They are often at a point in life where they just want to relax more, travel more and worry about yard work and exterior maintenance less. Condominium living for retirees can be a wonderful way to continue home ownership without all the stressors of exterior property maintenance and care. It often gives senior citizens a great sense of relief when they can own property without these additional home ownership worries.

The Single Person Lifestyle

The last group of people that are traditional condominium buyers are the single person home buyer. These people may come from any age group and are usually looking for a way to buy a home they can call their own. However, because they …