Considering Buying a Salt Lake Condo?

If mowing a lawn and shoveling snow aren’t part of your american dream, then you’ve probably considered buying a condo. Condos in SLC can offer great amenities, and many are located close to restaurants, shopping, and entertainment.

Here are a few steps to take when selecting and buying a condo that’s right for you.

  1. Get pre-qualified for a mortgage. Unless you’re one of the few that can pay cash for your new condo, you’ll need to get a mortgage. If you’re not sure which lender to go to, ask friends and family who they used, or ask your real estate agent for a good referral. Remember, interest rates are at historic lows, which means you’ll be getting more bang for your hard-earned buck.
  2. Consider exactly what your needs are. Do you need an elevator? Do you have to have secure parking? How about a pool or hot tub? Usually, the more amenities a condo offers, the higher the price and monthly association fees. Check out Salt Lake Condos for information about which have amenities that suit your needs.
  3. Make sure the location is right for you. Do you need to live close to a TRAX station or freeway access? Do you want to avoid high-traffic areas? Would you like to walk to favorite dog park or market? Narrow your search to the area or areas that work best for you.
  4. Find out what’s available. Your real estate agent will be able to help you determine which condos are available in your price range and target area.
  5. Tour a few condos. Getting inside a building is the best way to give you a sense of whether or not you’ll feel at home. Be sure to take a look at the parking, storage, and other amenities.
  6. Investigate the HOA. Get a copy of the rules and regulations of the HOA. Make sure there are no deal-breakers like age or pet restrictions. You should also ask to see recent HOA meeting minutes. This will give you an idea of what the hot issues are, and make you aware of any assessments that may be coming up.
  7. Find out what your association dues pay for. Above and beyond your monthly mortgage payment, most condos have monthly dues that generally cover building maintenance and repair, insurance, sewer, water and garbage removal. They can also include things like heating, security, cable television, and internet.
  8. Make an offer, close the deal and move in!

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