Legal Guide

Things To Consider Before Downsizing To A Condo

You may want to move to a smaller house for many reasons. Maybe all your kids have moved out, and there is too much space in your house that you do not use. Or, you require a place that requires less maintenance, or you are simply looking for a change. Whatever the reason may be, changing houses requires time and effort. 

If you and your partner are considering downsizing to a condo, you probably have a lot on your mind. Selling your current home, finding a new one, and relocating can be stressful for anyone. On top of that, you have to deal with the legalities as well. To lessen your burden, it is recommended to work with a real estate attorney in Monroe, NC

Things you should consider before downsizing to a condo 

  • Cost. 

This may seem obvious because no one buys a property without looking at its cost first. However, many people still make a few silly mistakes. A condo may appear less expensive than a home, but remember there are other costs associated with it—for example, the monthly fees of the complex, maintenance charges, etc. Depending on the size and location, the expenses could be anywhere between a few hundred to thousand dollars. 

  • Rules and regulations. 

Another thing you should consider when moving into a condo is the new set of rules you may have to follow. If you enjoy having a lot of guests over or playing loud music, you may have to give up or at least limit certain things. While you won’t be kicked out on your first violation, repeated mistakes will result in fines or eviction. 

  • Less space. 

Some homeowners do not realize how much they like living in a house with a bigger space unless they move into a condo. Your old house may have had several rooms, a lawn, a backyard, a garage, and a balcony. However, you can expect some or all of these to go away with downsizing. Before starting a minimalist life, be sure you really want it. 

  • Close quarters. 

Many people do not realize the importance of privacy unless they move to a condo with close quarters. Living in a condo in NC means having people living above you, below you, and on both sides. Moreover, the amenities of the condo are meant for all residents. You would have to share the pool, garden, gym, recreation room, etc. 

 
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