Think you’ve got a bargain at a newly developed condo? Is the price too inviting for its looks? Are the real estate agents too friendly and overly compensating? Well my friend, welcome to a game of hunting – for condominiums, that is. Money isn’t really easy to earn nowadays, so we must be aware of where our money goes. The recession is hitting the economy pretty hard, so owning your own house or condo isn’t the ideal move to make nowadays, right? Wrong. If you really look at the difference between renting apartments or condos, and renting to own, is the ever budget-hurting first down payment.
Say, you have two options: a.) rent, and b.) rent to own. Now, with the first option, you are expected to pay a month in advance, plus a deposit, and other fees. While the second option requires you to pay for 30-50% of the condo’s price, and pay for the remainder in flexible payment plans. Why buy a new car when you still have one? Owning your own house or condo will help you reach that dream as well.
Patience is a virtue. Anyway, let’s say you have the money to own a condo and work is doing great. You are still renting an apartment and it’s taking 20-40% of your salary every month. Do the math; you just have to realize that it’s the time for you to get one yourself.
Feeling it? Good.
Here are some tips on looking for good Miami Condos:
• Check the neighborhood.
(Are the people around you friendly? Are there any homeless people around alleyways? Research show that if you combine crimes committed by homeless people in the total crimes of Miami annually, it’ll add .05 to its total net average.)
• Check the bus routes, and transportation.
(I can’t stress this enough, transportation is important! This is one of the key reasons why some condos are selling at a very affordable price – because it’s hardly accessible.)
• Check online ratings.
(Now this may sound silly, but let’s face it, you’re not the only one who has ever attempted to look for a good neighborhood online. Every now and then, a good soul will actually share something that we never knew.)
• Never hesitate to ask. Demand answers.
• Check the condo’s background.
(Like previously stated, ASK. Look at the place; that is where you will spend your money on.)
• Remember, you get what you pay for.
(Cheap doesn’t always mean good, and vice versa. Be sure to check every option. This will test your patience, but remember, there’s always a reward for people who wait.)