What is a high rise condominium and is it a good choice for you? There are tremendous benefits of owning one of these such as luxurious amenities and someone else taking care of all of the maintenance duties. There are also some important drawbacks to living in a high rise condo. In this article we will take a look at the ups and downs of this type of home.
The first point about living in a high rise condo could be taken as either a positive or a negative depending on your personal habits. Are you a packrat? If you are, keep in mind that space is a desirable commodity in a high rise condo. You typically pay for square footage in this type of home. So you must ask yourself if you want to pay for storing junk. If you do not, you can take this as an opportunity to part with some of your junk. If you cannot bring yourself to do this, perhaps a high rise condo is not the correct type of home for you.
If you love your pets; as most of us do, beware that there may be strict rules governing a high rise condo pertaining to pets, especially dogs. There may well be restrictions on the size and type of dog you can have. Even in those buildings that do allow dogs you must be certain there are enough green areas to walk him. Do you really want to truck three or four blocks away to the nearest dog park on a bad weather day? There also may be restrictions on more exotic types of pets, even if they are small. If you do not want to be forced to part ways with your furry (or scaly) babies, a high rise condo probably is not right for you.
Do you live a relatively noisy lifestyle? Do you like to listen to music late at night or perhaps have young and active children? If yes, then a high rise condo is definitely NOT the place for you to live. The majority of them have strict rules about noise control. What may seem like harmless sound to you could be considered a racket by your neighbors. You may find yourself contacted by an HOA officer or even visited by a police officer if you violate the building’s noise restrictions.
Do you plan on leasing out your high rise condo unit? If so, be very careful here. Some buildings absolutely forbid this altogether. Others have umpteen restrictions on who you can lease to and how your terms must be structured. Some buildings will even require your prospective tenants go before the resident condo board for a stringent evaluation.
We are not saying that living in a high rise condo is a bad thing. We are just saying that the rules for such housing can be very strict. BEFORE you buy a unit there, do yourself a favor and completely read the building’s rules. You may save yourself a lot of headaches.