Major Things to Consider When Buying Condominium Property in Uganda

Major Things to Consider When Buying Condominium Property in Uganda

Buying a condo is often fundamental purchase of your life with due regard to the prevailing real estate conditions. An average condo in Uganda ranges between USD 30,000 to USD 250000 due to many considerations including locations, amenities and rental value of the area. It is easy to become passionately friendly when seeing a condo not unit you surely like it. When buying a Condo, you are acquiring it for various reasons either for your own residential safety, commercial rental or any other purposes.  There are various things you need to consider when making such a big decision purchase a condominium of your dream. At Ecoland Property Services, we have enlisted the following 22 things you should know when buying a condominium property.

  1. Location, Location, Location!

This is a very vital factor when you are making a condominium purchase. The neighborhood and what you see through your windows is very. Please make your research and find out about any likely development plans in the area you are opting for. Even though you won’t own that condo forever, it is significant to think about the resale future plans. Sometimes, the neighborhood or surrounding area may be up-to-the-minute and popular, but don’t heavily rely on that as things change. Location accessibility is very important as you need to be nearby to public transit, a hospital, shopping malls and groceries, parks and good schools especially international ones.

  1. Proximity and Quality of Schools

Most of the time, the value and market price for a condo are driven up by how good the schools are in the area are. In real sense, modern schools create more prospective buyers as well as multiple offers for the property. This is a fundamental factor to put in mind when buying a condo because even if you do not have children now, you may need them in the years to come. Proximity to good schools aids the resale value of the condo unit.

3. Condo Rent Out Possibilities 

Many buyers acquire condo units as an investment and rent them out which is very fine. But it is alway good to check in advance whether there is no restrictions on putting your unit available for rent either on short term or longer period. Knowing such conditionalities in time will save you stress in case renting is not allowed. 

What is the Demographic of the Condo?

When moving into any property, it is always good to know who the neighbours in the estate. You need to know the neighbours by social class, nationality or business categories. Find out what the demographic is and know if you will be comfortable within environment.

What is the Parking Arrangements?

In case you own a vehicle or plan to buy one, it is necessary to  know that there is parking space allotted to your unit. Look around to confirm that the parking space is enough for the available condo owners as well as their visitors. You dont need to own a condo property and start improvising parking needs outside the facility. 

Energy Efficiency

That is a distinctive feature that most condo buyers do not look at in the early stages when prospecting the property, but they realize it later upon seeing the utility bills. Energy-efficient condominium features may include superior isolation preventing affecting warmth or coldness with the dynamic weather conditions. Energy efficient items like bulbs or heaters, time sensors on lights or solar panels are good to look into.

What Do the Condo Fees Cover?

Knowing in time what your condo fees cover with help you determine whether you need to pay extra for given services which are not covered. In most place, each unit owner is obliged to pay for monthly condo fees that typically cover repairs and maintenance of the common areas like swimming pools, parking area or gardens.