Homebuyers

Three questions to ask before buying a condominium

The unit is only part of what you are buying. The building's finances, rules and upkeep matter too.

Contemporary condominium towers
Contemporary condominium towers. Editorial image via Unsplash.

At a glance

  • Compare the maintenance charge with the building's facilities, age and service intensity.
  • Lifts, façades, pumps and waterproofing eventually require capital spending.
  • Test mobile reception, lift demand, visitor access, parcel handling, waste disposal and the route from parking to the unit.

What does the monthly charge actually support?

Compare the maintenance charge with the building's facilities, age and service intensity. A low charge is not automatically a bargain if it leaves too little for preventive work. Ask how often charges have changed and what large expenses are expected next.

Is the sinking fund ready for major repairs?

Lifts, façades, pumps and waterproofing eventually require capital spending. A healthy sinking fund gives a building options. Request the latest accounts and meeting records where they are available, and note whether planned work repeatedly appears without being completed.

How does the building work on an ordinary day?

Test mobile reception, lift demand, visitor access, parcel handling, waste disposal and the route from parking to the unit. Ask about renovation rules, short-term stays and pet policies. These operational details often affect daily satisfaction more than the showroom finishes.

Keep in view

Property decisions depend on personal circumstances and current rules. Verify documents and seek qualified advice where appropriate.