Living the LA Condo Lifestyle


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Tips & Insights for Condo Buyers

Buying a condominium today is different from what it was just a few years ago.

 

Even experienced buyers quickly discover that they are treading new ground – that documentation is far more extensive and complex, and that even the simplest condo purchase involves inspections, disclosures, contingencies, approvals and, of course, negotiation.

If you’re considering the purchase of a Los Angeles-area condominium – whatever size, age, style, price or location – you can prepare yourself and make the purchase process easier by keeping these tips in mind:

Set priorities

  • Finding the right condo is partly a matter of knowing what is most important: which features you can’t live without and which ones you’re willing to forego if necessary. Do this in writing, so you can be sure you’re getting everything you want when you start looking at properties (I’ll be happy to give you a Condo Buyer’s Worksheet to make this easier).
  • Think about the size of your household (adults/children/pets) and how you plan to live in your condo (at-home businesses, entertaining, sports activities, gardening, etc.).
  • Consider your long-term plans: how long do you plan to stay in this condo? How might that affect the size of your household or your lifestyle?
  • Make a note of any special health or other considerations. For example, if someone in your household is 6’4” tall, high ceilings and doorways would be important.
  • Now picture your condo room by room and list the most important features as well as the “dream” features. If you’ll be moving large pieces of furniture into your new home, measure them and note those dimensions in the appropriate rooms. (You definitely don’t want to have to cut your antique sideboard in half to make it fit in your new dining room!)
  • Don’t forget the exterior. Is a swimming pool important to you? Do you want balconies large enough for entertaining?
  • Think too about location: what services must be close and how far you are willing to commute?
  • Once you’ve compiled your list, highlight the must-have items and keep updating the list as new ideas occur to you. Bring your list when you meet with your real estate agent and carry it with you for reference when you look at properties.

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Know yourself

Most people make some compromises in price or features when they buy a home. It’s useful to think about how much you are willing to do to get the condo you really want. Do you need a private exercise room or would a fully-equipped homeowners’ gym be okay? If you’re “downsizing” from your current home, are you willing to get rid of some furniture or take on the additional expense of storage? Would you be willing to put up with the inconvenience of a kitchen remodel if you find a condominium that’s otherwise ideal?


Some areas of interest on my site for those interested in buying a home:

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Get pre-approved

When you’ve found the right condominium, your ability to act quickly can give you the edge in a competitive market. Talk with your lender as soon as you make the decision to start shopping for a condo. Not only will you position yourself to make a timely offer, but you will also have a better idea of exactly how much you can afford, and you may even be able to lock in an attractive interest rate. If you don’t have a lender, I would be happy to suggest some names to get you started. (This is also a good time to start talking with movers and considering your costs and options for moving and storage. Again, I’m happy to make recommendations.)

Finding the right condo can be a confusing process if you don't already have a specific development in mind. Make it easy on yourself and let us help.

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Drive around

The right condominium is more than a structure – it’s part of a neighborhood. Southern California is made up of an enormous number of neighborhoods, each with its own character, and condos come in many shapes and sizes. You may have already decided where you want to live, but you might also be surprised to discover other wonderful, appealing areas as you drive around. When you find a neighborhood you like, get out of your car and walk. Picture yourself jogging or walking the dog along these streets. If you’re comfortable, this could be the perfect place to start your condo search.

Work with an agent

For most of us, our residence is our largest single asset. When you invest in a condominium, you want to make sure that you’re getting good value, that your interests are protected, and that your deal (and your condo) won’t fall apart. A real estate professional is a partner and advisor, a representative and negotiator whose job it is to make sure that you make great decisions, get solid value, and end up with a condo that really suits your needs

  • Your agent can show you properties that are newly listed or may not be advertised or have a For Sale sign.
  • Your agent can arrange for showings and provide detailed information about specific properties (even if they are listed for sale with another agent or company!) and about neighborhood and building values and trends. § Your agent can help you set your priorities and can give you expert advice when decisions become challenging or emotional.
  • When it comes time to make an offer on a condo, your agent will explain all of the fine print in the documentation and then present the offer and negotiate on your behalf.
  • Your agent will represent you during inspections and keep you informed as your escrow progresses.
  • And when your escrow closes, your agent should continue to be available to answer any questions you may have about your new home.
  • Your agent can even help you manage the details of your move!
  • Choosing the right agent is as important as choosing the right condo.

If you’re thinking of making a move – to, from or within Southern California – we would be happy to talk with you about helping you find the neighborhood, the condominium, and the LA condo lifestyle of your dreams. Contact us today at Buying@LACondoLifestyles.com or 310-278-6033

LA Condo Lifestyles
875 Comstock Avenue Suite MR10, Los Angeles, 90024

phone: 310-278-6033 | fax: 310-388-5641

www.LACondoLifestyles.com | Buying@LACondoLifestyles.com