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Difference Between Condominium And Apartment

Difference between Condominium and Apartment (2)

Condominiums and apartments are not different in their appearance but rather in ownership. Apartment units are housed in a building complex often owned by a single entity that rents them out to individuals. Condos on the other hand are individually owned but managed under an umbrella body for condo owners in the area.

Renting a condo or apartment

It might be quite expensive to rent a condo as unlike apartment units, they often come with high end amenities. This is usually because condo owners strive to invest in their units to boost rental income or increase the unit’s value in the real estate market. Because only one person actually owns a condo, it is easy to find variety as people add personal touches to different units.

  • Condo

Difference between Condominium and Apartment (3)If you are planning to rent a condo be ready to pay more upfront costs for things like reserving the elevator, administrative fees to the property management company. Those who prefer condos like the chance of establishing a one-on-one relationship with the landlord. This comes in handy when you need an upgrade or more flexible terms of payment. The downside to this is when the landlord travels or is out of reach and you have to wait unknown lengths of time before your issues can be sorted out. An important matter to discuss before moving in to a condo is the maintenance fees you will have to pay to enjoy various amenities.

  • Apartment

An apartment complex on the other hand comes with straightforward amenities such as parking, on-site laundry, gym or pool. Such amenities are available to everyone living in the apartment building unlike for a condo where extra facilities are provided by the owners. Living in an apartment assures you that repairs and other issues will be promptly handled by the managing corporation.

Difference between Condominium and Apartment (1)

Whether you choose a condo or apartment, remember that there are rules to be followed by tenants everywhere. Sometimes you will be required to fill in some information to help the landlord or home owners association serve you better.

If you are looking for property to rent it is important to talk to your real estate agent to make sure that you get the best deal. This will help you start living in an apartment or condominium where your interests come first. By clearing things up beforehand you will not be faced by extra costs or terms after moving in.…

Checklist For Inspecting A House

Checklist for Inspecting a House (2)

Architectural details, modern conveniences, and wall and floor coverings are key factors in the buying decision, but this write-up focuses the inspection on the structural, electrical, and mechanical condition of the house. This checklist for inspecting a house is designed to provide the real estate agent or potential buyer with a way of detecting some of the obvious major deficiencies or flaws in the critical components of a home. While this inspection checklist may not detect all the flaws in the property, it provides a basic guide to identifying potential areas of problems that might exist in the home or property.

1. InteriorChecklist for Inspecting a House (1)

Foundation: Check the walls and ceilings in every room for obvious cracks. Check for trees encroaching on the house’s foundation. This can also be done on the house’s exterior.
Attic: Assess the interior of the roof structure for any signs of leaks.
Interior Leaks: Check the floors and ceilings in each room for obvious leaks.
Basement: This place is prone to dampness, therefore you should check for adequateinsulation. For a crawl space in place of a basement, leave this to the professional home inspector.

2. Exterior

Assess whether the exterior will require any repairs/ repainting soon. Check whether gutters and downspouts are firmly attached. Watch out for any loose boards or dangling wires as well as for asbestos in the exterior, as this may require extra cost to repair or replace.
Lot: Check if the drainage seems to be away from the property and for any obvious soggy places
Roof: Check the overall condition and ask when it was last replaced. Find out whether there are signs of trees encroaching on the roof.

3. ElectricalChecklist for Inspecting a House (1)

Check out for any obvious malfunctions and find out whether all the switches work. Are the outlets grounded? Also, do find out whether the panel is updated and expandable to accommodate additional appliances that you may require, or a potential home remodel to improve the look and feel of your home.
Appliances: Note that these are not a part of the electrical system, but if they are included in the house, then you need to find out their age and condition.
HVAC: The heating, venting, and cooling system should also be checked for obvious flaws and malfunctions. Determine the age of the furnace.

4. Plumbing

Look out for any blocked sewer lines. Establish whether there are any potential cracks.
Lastly, smell the house for any strange odors and determine what can/cannot be fixed. Musty odors could mean a wet basement.…