After choosing a neighborhood to focus your search for a new condo, one of the other key decisions that you will face is whether to purchase a resale or new construction condo.Many buyers are attracted to new construction condos and there are a wide variety of reasons why. On a subliminal basis, we have been trained by Madison Avenue to yearn for the biggest, fastest, latest and newest products. It is pretty easy to go out and buy a new iPod, while it is not so easy to upgrade your condo decision.
With new construction condos, you can elect to have the unit finished exactly how you want it, purple glass tile in the shower….not a problem! We all want to feel a connection to our surroundings and customizing the finishes in your condo are a great way to achieve this connection.
New construction means that all your neighbors are going to be new as well. As you are all in the same boat, it should definitely be easier to meet friends and not have to break into established social circles. You will also have a clean slate with regards to your condo association. A new development will not have major systems facing obsolescence that require expensive assessments. Also your individual unit will come with a warranty, giving you peace of mind regarding unbudgeted repair expenses.
Modern condo designs offer more interesting interior spaces than what had been available in the past. The explosion of loft-designed condos has made cookie cutter boxy interiors feel very dated. Open kitchens and living areas, coupled with high ceilings and over-sized windows are all staples of high-end new construction condos. As more work is shifted to the home, these open spaces with plenty of light are very desirable. When it comes time to sell, a fresh modern design is sure to attract a premium at the closing table vs. an outdated condo design.
When you start your search for a new construction condo, it is especially helpful to work with an independent buyers agent. The buyers’ agent can assist when you visit a new community so that you are not dependent on the builders’ sales representative. Having this resource on your side of the negotiating table will prove helpful throughout the purchase process.