While what people look for in a condo may be largely determined by their personal preferences and needs, some factors are largely universal and cut across cultures, financial status, and other considerations.
Features to consider before buying a condo
The condo’s location matters a lot. It should be near amenities like convenience stores, schools, hospitals and social places like restaurants where people can eat out. In beach communities, a good condo should be close to the beach. It should be very easy to access the roads or different forms of transportation from the condo. From instance, Condos at Kipling and Dundas have easy access to Airport and excellent connection to major roads making them an ideal investment idea. If a condo is near water or a hill ensuring a magnificent view, it will easily attract buyers or tenants, since they will consider it to be in a great location.
2. Internet connectivity
Condo residents have a lot of devices that require internet connectivity, ranging from their smartphones, tablets, laptops and iPads. A good condo with a good internet connection is something that many tenants will need, better still, if it is free, fast and reliable. The internet connection can be installed in the individual units or even in shared amenities like lobbies.
3. Security and privacy
If you have a luxury condo, privacy and security are a basic necessity. Wealthy, influential people will need these two and they see them as priorities. Your condo should have an underground garage for instance with enough parking space for luxury cars. A front desk to filter visitors, and manned security. You may consider having a private elevator as well. Security is a general property that every tenant or buyer will go for, though.
Many condo dwellers will be turned off by properties that do not allow them to keep their dear furry friends. Pet-friendly rules will be very attractive to tenants and buyers alike. If you are a condo dweller, open door policies towards pets will make the residents feel at home, especially large dogs. It will also increase occupancy rates. Pet security is also of prime importance.
5. Storage space
Storage space is one of the four most searched for amenities when people are looking to buy or lease a condo. You want a condo where all your items will fit. In a place like New York where storage space is a challenge, many basements are now being converted into storage units, and other creative solutions like storage racks are being added. As a condo owner, you may consider adding storage to your condos to attract buyers or tenants. You could also charge the tenants for using the units and earn some extra money.
6. Fitness center or gym
Having a gym or fitness center indoors will save your condo residents from having to go outside for workouts. They need not pay for gym memberships. If you are the condo owner, you will attract more buyers and tenants alike.
7. Energy efficiency
Condos with energy efficiency designs are ideal as they help save on energy and electricity bills. A condo with ample windows, for instance, will have enough lighting during the day, and you will need not keep the lights on.
The above properties of a good condo represent what many tenants and buyers look for when leasing or buying a condo. Personal preferences and needs may have some tenants demand more. Other factors like status in society may require condominiums with more properties.