Real Estate Blog | Jain Oncor

Everything You Need To Know About Buying Apartment In A Condo

A condominium is a building or a complex of buildings whose private ownership is exercised on an individual or family basis. What all condos have in common is that they share specific areas such as patios, garages, tennis courts, swimming pools, recreation rooms, or gyms.

Owners pay fees to an administration, usually comprised of elected owners and/or a private company, who hire gardeners, maintenance staff, pool cleaners and other professionals for anything that needs to be fixed or repaired.

Likewise, within the functions of the condominium administration will be publicize and enforce the coexistence regulations.

Characteristics of a Condominium

Life in a condominium is associated with a series of considerations related to sharing spaces with neighbors, complying with regulations, sharing expenses and schedules, and consensual security measures.

Factors to evaluate to decide on a Condominium

Condos are often ideal for people who want real estate but don’t want to worry about landscaping and general maintenance or security. Condos tend to be better built and maintained than rental residences and generally have a fairly attractive amenity package.

The advantages of living in apartments for sale in Gurgaon are varied. They are often well-designed, have functional spaces, and are generally strategically located near shopping centers, schools, parks, and areas of interest.

Buying a resale or presale apartment requires that you have a good understanding of the advantages and disadvantages of both options. These two options are the most popular among buyers, but there is also a third option today, assigning a pre-construction contract.

Advantages of buying an old apartment

Advantages of going for a Pre-construction purchase

Purchase through a rights session

The above are the two main ways to buy an apartment in a condo, but you should also know a few things about this third option:

Both preselling and reselling have their advantages and disadvantages. The outcome will depend on your preference, your budget, and the amount of risk you want to take.

Before deciding, it is a good idea to consult real estate agents in Delhi to guide you through the entire process.

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