Temporary Housing 101

1. Ponder on the thoughts when preparing to buy a condo. Is it the right move? Will it fit my budget? Will it fit my Lifestyle?

2. Check the advantages and disadvantages of an urban lifestyle. Check out various Condos and note their strengths and weaknesses and also take note of the price range.

3. Get pre-qualified for a mortgage.

4. Inspect the building complex of your desired condo location. See my article on how to inspect for a condo unit.

5. Make an offer and close on the deal.

From AllAboutCondoLiving : How to Buy A Condo

1. Design and Layout – check the design of the unit and the layout of the floor plan such as rooms, doors, windows. Is the unit in the direct path of the sun? If that’s the case you should consider that in summertime you may spend a bit more energy and money for airconditioning.

2. Noise – from both inside and outside sources visit the unit you want to buy at different times because there are times when it so peaceful but check it at weekends or during rush-hour period to see if the noise is bearable or not.

3. Privacy – We all want our privacy and we must find the perfect unit to help maintain our privacy, check the unit decks and patios to make sure your safe from prying eyes and such.

4. Security – Comes hand in hand with Privacy, Is there a security system in the building complex and in the unit, is it properly lit at night Is the unit or building secure and have ample security to deter criminals?

5. Amenities – Every building has amenities that are widely available to residents, such as a pool, a hot tub and community room. And always check and ask the building management if there are fees for usage and maintenance of these said amenities.

6. Parking – Which is near an elevator, stairs, or close to your unit. And is properly lit.

From AllAboutCondoLiving :Inspect a Condo Unit Before Buying

Building defects, should they occur are mostly the responsibility of the property owner but is more often than not discovered by tenants. They are quite easy to deal with should the landlord be amiable to resolve the issue quickly but with some difficult landlords, a more stern approach should be taken. Renters have rights as to protection from hazards that exist within properties they occupy as part of their contract with the landlord making sure the premises always maintains safe and acceptable living standards. (more…)

Image Source: www.house-remodeling-plan.blogspot.com

An Apartment Hotel is a type of accommodation, described as “a serviced apartment complex that uses a hotel style booking system”. It is similar to renting an apartment, but with no fixed contracts and occupants can ‘check-out’ whenever they wish.Apartment hotels are flexible types of accommodation; instead of the rigid format of a hotel room an apartment hotel complex usually offers a complete fully fitted apartment. These complexes are usually custom built, and similar to a hotel complex containing a varied amount of apartments. The length of stay in these apartment hotels is very varied with anywhere from a few days to months or even years. Prices tend to be cheaper than hotels. Apartment hotels were first created in holiday destinations as accommodation for families that needed to ‘live’ in an apartment rather than ’stay’ as they would in a hotel. The apartments would provide a ‘holiday home’ but generally be serviced. Later on these apartments evolved to be complete homes, allowing occupants to do everything they would at home, such as cleaning, washing and cooking.

Many of us are all craving for independent living as well as sufficient privacy. Hence, there is a noticeable number of people purchasing a condominium or apartment unit in many different places. However, there is more to just getting oneself a place to call his own. Is it surprising that there is also such a thing as homeowners association in building residence?

One does not just own a part of the whole – all unit owners are actually co-owners of the whole building and the land it stands on. With this, there is a need to form a board of directors that shall administer and maintain the whole property. This is a given because condominium or apartment living is a cooperative venture which requires a set of rules and conditions that shall motivate each owner to respect the rights of one another and also for all of them to have a hassle-free maintenance. Everyone will be required to cooperate with all of the little things such as prompt payment collection, care for facilities and the like. In short, owning a condo unit or an apartment door is independence under a set of reasonable laws.

(For further reading: http://condolawyers.com/articles/carefree.htm)

Hollywood is seen as one of the richer places in America. However, even in one of the affluent places, there are poor people. That’s why the local government’s doing something about it.

The Los Angeles Community Redevelopment Agency approved a revitalization plan last Thursday to help finance a series of commercial and residential projects adding more low-income housing in the area.

Low-income projects planned over the next five years include the $7-million Villas at Gower, which will offer 70 “very low-income housing units” along with supportive services for homeless families and what the CRA calls “transitional youths.”

Source

The present administration is lobbying for home ownership but according to a study conducted by both the Center for Economic and Policy Research and the National Low Income Housing Coalition it should focus more on rental and affordable properties.

Due to the surging rates of foreclosures, people may choose the apartment or temporary housing options this year. There’s even a figure stating that 1 million people rented apartments last year compared to 139,000 more people looking into buying a house.

“With or without proactive policy, the transition from owner-occupied housing to rental housing is happening,” the report said. “In these bubble markets, policymakers must not only be less committed to sustaining ownership and home values, but also must proactively facilitate the conversion to rental of vacant, foreclosed and delinquent units to limit the pressure on the rental market.”

Although staying in a condominium would be a good way to start on the road to independent living, it might not be such a great idea for everyone.

Things to consider about staying in a condominium is that there are higher safety risks, considering that you may be living on the top most floor and that at any time natural disasters could strike. Moreover, staying in a condo costs a lot, from the fees to the unit itself. Consider your needs before picking out that condo, it might not be for you after all.

Source : Condo 101

    Having been a British colony for quite a long time, Hong Kong is very much influenced by the West. While there is a majority of Chinese that makes up its population, Hong Kong is also a home for people from Australia, United Kingdom, Japan, and Korea. It’s not a wonder why real estate in Hong Kong is getting bigger.
As such, citizens and tourists who are both into the much modernized Hong Kong metro have taken action of acquiring a home amidst the busy lifestyle. Hong Kong is no doubt a business central and many people just want to take part into the action. Condominiums are very sellable, and as such, it’s very noticeable how lavish their condo units are. Every common facility is equipped with high-end appliances and function rooms are very luxurious as well – game rooms, spas, saunas, meeting rooms, salons, intercom systems and all that. Some condominiums are also specialized to those who are retirees or committed to singlehood.