Condominium living is gaining in popularity these days and this is especially true with Paradise Valley real estate. The idea of living in a desirable location with desirable attributes, such as affordable housing and low maintenance along with the enhanced security features is appealing to those buyers that opt to invest in a condominium.
However, investing in a Paradise Valley condominium is not an easy matter. There are a lot of tasks that need to be considered before decisions are made. If you are thinking of investing in a condominium here’s a checklist of questions to ask before investing a condominium.
Are you planning on living in a condominium, rent it out, or re-sell it? How many units are you going to invest and how many rooms? These things are worth looking into in choosing the condo that is right for you or your family. It is also important to decide on whether you are going to live in high rise or low rise building. Beyond the amazing city view, determine if there is a family member that has fear of heights so you’ll be guided appropriately.
How much will you be willing to invest in a condominium? What other fees will be incorporated in the ownership of a condominium? Most developers have association fees to maintain and other recurring costs. Make sure you understand you tax obligation on your unit and how it is computed. Most importantly is to understand the current financials of the Home Owner Association (HOA) as moving into a condo that is about to demand assessments for maintenance, etc., is a surprise you don’t need.
How accessible is the condo to schools, offices and other conveniences? Nowadays, people are opting to invest in a condominium for proximity to these conveniences, so it is important to choose a condo that is close to the places you frequently want to frequent. There are also mixed-use condominiums that are partially residential and commercial providing many of the wants and needs you may need in the same building.
Rules and Restrictions:
Every condominium is governed by its rules and restrictions set for its residents. These may be very strict or relaxed. These are necessary to ensure that condominiums are properly operated and maintained. How are repairs and renovations processed? Or is alteration of the unit space and appearance allowed? Are pets allowed? How many occupants are allowed in your unit? Know all the covenants and restrictions of your HOA because this is what you’re signing up for and what you’re going to live with for the duration of your ownership of your unit.
Condominiums can be a complete community within one complex offering a wide range of social and recreational activities. Before choosing the right condo for you, consider the target market of the condominium. Many condominiums are especially suited for a certain lifestyle, such as young professionals and families with young children and some are age restricted. Some of the condominiums have commercial establishments on the ground floor and it may not be suitable to your lifestyle.
What are the amenities offered by the condominium? Will they be of use to you? Most condominiums offer a variety of amenities so pick one with amenities that are of use to you such as parking space, concierge service or a gym that may compliment your lifestyle. For those with kids, one with a swimming pool and playground is a good pick.
You also need to consider the track record of the real estate developer. Further, there are many real estate agents and other professionals available that will be able to assist you along the way. A skilled and trustworthy real estate agent that understands condominiums and HOA’s can help you save time, energy, and money. Once you have answered the questions you need to consider in investing in a condominium and your REALTOR has answered your questions you can pursue your purchase with peace of mind and enjoy your new abode.
If your choice in Paradise Valley real estate includes a condominium or a luxury valley home, give us a call or email us. Paradise Valley real estate is our full time business and our Luxury Valley Homes team is here to help you with your real estate requirements.
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Paradise Valley Homes Arizona:
The Paradise Valley real estate website offers insider information on many Paradise Valley, Arizona luxury neighborhoods. It’s designed to give you an idea of the local market and current Paradise Valley real estate Multiple Listing Service (MLS) listings and all of the Maricopa County listings that are currently available. We understand that your time is precious – why waste it trying to find descriptions of communities or downtown ondo buildings?
Get all your Paradise Valley real estate research done right here, in one place. We want to make navigating the real estate world as easy as possible, you’ll see that on our website, and you’ll see it in our service.
If you’d like more information about relocation, luxury real estate, waterfront homes, or properties in Paradise Valley, AZ, please don’t hesitate to contact us. We’re happy to answer all questions, big or small.
There are actually two Paradise Valleys. The first is the more secluded Town of Paradise Valley, comprised mainly of high-dollar homes nestled against the sides of Sonoran Desert hills or hidden behind oleander-covered estate walls. Commerce here is limited almost entirely to a handful of award-winning destination resorts. The town’s country club atmosphere creates a sense that this is paradise found.
The second is Greater Paradise Valley, a larger, more diverse community that encompasses newcomers and longtimers, the young and the old, and businesses large and small. At its core is Paradise Valley Mall, the regional shopping center and surrounding all this are the homes that make up Paradise Valley real estate.
The Town of Paradise Valley, located just north of landmark Camelback Mountain, is almost entirely residential. Among its amenities enjoyed by residents and visitors alike are Marriott’s Camelback Inn Resort & Spa, Marriott’s Mountain Shadows Resort, Doubletree’s La Posada Resort, the Sanctury Retreat, and the exclusive shops and restaurants located near the town’s border with Scottsdale, and Phoenix.
Despite the town’s relatively small area and population compared to other cities in the Phoenix metropolitan area, Paradise Valley is home to twelve resorts, making it one of Arizona’s premiere tourist destinations. Paradise Valley real estate is known for its luxury homes, with a median home price at $1.74 million, with many exceeding $5 million and some over $20 million.
There is no postmark that reads “Greater Paradise Valley”. The community, well within Phoenix city limits, is considered a distinct “village”. Encircling the shopping mall are retail developments, apartments and condominiums and health-care facilities. Paradise Valley Hospital is here. A major high tech industry, City of Phoenix, which produces silicon wafers, opened in 1997 and the Mayo Clinic Hospital opened in 1998.
Outside this core are townhomes, single-family homes, small estates with horse privileges and a handful of golf courses. The area is known for its above average housing, excellent schools and overall family quality of life.