One of the trends in urban living today is buying a unit (or units) in a building that is yet to be constructed, or is currently being built. More often than not, the terms seem to be more affordable than those for units in already completed buildings. Is buying a unit in an unfinished building a good idea, though?
At the end of the day, it is your decision. However, you have to understand that there are risks associated with buying in unfinished buildings. Perhaps the biggest risk is for investors or lenders to pull out. Unfortunately, this happens all too often. Think about it – how many half finished buildings have you seen around your city? The chances are that these buildings have suffered from a lack of funding somewhere down the road.
What you can do is to make sure you know as much as you can about the developer in order to lower this risk. Alternatively, find a unit in an already finished building.
Filed under: Real Estate, Urban Living by admin on Tuesday, October 14, 2008 | Social tagging: condo buying tips > condo units > condominiums > Condos
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More and more people are looking at buying units in condominium buildings instead of separate houses. With space being of prime consideration in urban centers, this is but understandable. Before you purchase a condo unit, though, there are certain considerations that you should look at.
Covenants, Conditions, and Restrictions
These are the rules and regulations that you have to follow if you are to reside in a condominium building. These can cover a lot of points – from pets in the building, visitors, painting and remodeling, and more.
Association Dues
The only thing that you will own is your unit. The upkeep of the common areas, the security, etc. – these will have to be covered by association dues. Make sure you understand how much the dues are and exactly what they cover.
Owner-occupants to Tenant Ratio
Many condo owners lease or rent out their units to tenants. If this is going to be an issue for you, you ought to find out the ratio. This can also come into play if you are going to take out a loan from a financial institution as some entities prefer a higher number of owner-occupants.
Filed under: Real Estate, Urban Living by admin on Tuesday, August 19, 2008 | Social tagging: condo buying tips > condo units > condominiums > Real Estate
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Living in the city usually means a much smaller livable space. Unless you can afford to buy or rent a huge place, you will have to learn how to make do with more or less cramped quarters. Here are some useful tips that will help you with that.
1. No clutter, please.
Having clutter will only make your living area seem smaller. Get rid of what you do not use on a daily or weekly basis. Just keep what you really need.
2. Multi-task.
Choose furniture that can serve more than one purpose. For example, get a bookcase that can function as a stand. A sofa that can be turned into a bed if necessary. A coffee table that has storage space underneath. You get the idea.
3. Pay attention to colors.
The use of light colors will give you the illusion of wider spaces. Make use of contrast as well. Play around with colors to make the most of your space.
Filed under: Home Improvement by admin on Sunday, June 8, 2008 | Social tagging: Home Improvement > interior decoration > small spaces
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As with most other things in life, living in an urban setting has its disadvantages as well as its advantages. There are always two sides to a coin. Here are some of the downsides to urban living.
Cost
The convenience that city living affords always comes at a price. The nearer to the center of things you live, the more expensive your rent will be. The same thing applies to buying property – the cost will be higher.
Population density
People have a tendency to flock to the center of things. Hence, you will not be alone in seeking a home in the city. The population density is much higher in urban living centers, and there is nothing you can do about it.
De-personalization
Due to the high number of people living in urban centers, there is a tendency for neighborhoods to become de-personalized. That is, you might not know many of your neighbors and the interaction will be much less. For some, this is not a disadvantage at all.
Filed under: Real Estate, Urban Living by admin on Friday, March 7, 2008 | Social tagging: disadvantages of urban living > population density > real estate cost > Urban Living
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Having a home in the countryside and actually living there is perhaps one of the best things you can do. However, there are advantages to living in the city that one might miss if he were to live in the country.
For one, urban living definitely comes with all the conveniences that one can ask for. In an urban neighborhood, you can get everything – from food to electronics to massages – without having to commute for more than an hour at the most. In many cases, you can get around on foot, or use public transportation all day (and night) long.
The fact that public transportation is easily accessible also gives you an added plus – you can have the option of not using your car or even getting rid of it altogether. More so, living in the city provides you with more options with regard to job opportunities. It is no wonder, thus, that a lot of people are seeking urban homes more and more.
Filed under: Urban Living by admin on Friday, January 4, 2008 | Social tagging: pros of urban living > Urban Living
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