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5 Tips For Purchasing Your First Condo


July 27, 2021

Buying a condo is a much different process than purchasing a single-family home. Before purchasing, many factors can sway your decision, such as location, amenities, and access to breathtaking views from our Continuum condos for sale that you can’t find in Miami Beach homes. 

 

First, you’ll need to determine if condo life is the best fit for you. Many people love living in condos for access to amenities. For example, Continuum South Beach has access to two large pools, an outdoor restaurant, a state-of-the-art gym, and 24/7 security. Condos are also likely to be remodeled, whereas many houses will require remodels and DIY renovations. If you aren’t interested in a renovation, a condo would be a great fit. In a condo, you also won’t have to worry about lawn care or exterior maintenance. 

 

If you decide that condo life is right for you, start looking into financing. Again, this process is not the same as it is for a single-family home. It’s best to get pre-approved before looking to purchase to avoid a hassle in the future. Plan for a lengthy process as many lenders don’t cover condo purchases. Most people opt to purchase with cash or use a private mortgage. 

 

Another factor to consider, and possibly the most important one, is to assess your future plans. Condo values don’t appreciate nearly as much as a single-family home, which is important if you are looking to stay long-term. Of course, no one can accurately predict market values in the coming years, but having a general idea of your future plans can help you keep maximum value in your condo.