Not everyone in the Sunshine State wants to live in traditional suburban neighborhoods miles away from the city. Some people prefer low-maintenance environments with stunning views, work proximity, and a more vibrant lifestyle. For these reasons, they opt for high-rise condominiums.
However, purchasing a high-rise condo in Orlando can be a challenging endeavor if you’re new to the Florida real estate market. There are some crucial aspects you need to consider, preferably with the help of an experienced Orlando realtor, before signing the purchase contract since not all high-rise buildings are created equal.
Therefore, in this post, we’ll share 5 things to consider before purchasing a high-rise condo in Orlando so you can get your money’s worth and pick the best option for your budget and lifestyle.
What to Consider Before Purchasing a High-Rise Condo in Orlando
The first thing you need to consider is the neighborhood, not just in terms of cost but also schools, public transportation, commute, markets, and public infrastructure. Most Orlando realtors recommend neighborhoods like Downtown Orlando, Thornton Park, and Rosemont since they’re closer to business centers and other amenities.
Parking is one of the biggest issues condo residents face not just in terms of availability but also space, convenience, distance, security, and the number of vehicles. Moreover, not all buildings can accommodate parking for guests. Therefore, it’s important to check the parking conditions and any cost for additional parking slots.
Amenities are what separate apartments from single or multi-story detached units. Many condominiums in Orlando include facilities like gyms, swimming pools, and other recreational spots. So, before you buy a condo, inspect the facilities to look out for any red flags, such as broken equipment or improper hygiene. Remember, amenities aren’t free, so you have to ensure you’re getting your money’s worth.
High-rise buildings typically comprise hundreds of residents, which is a lot of human traffic in a single building compared to landed homes. Depending on the neighborhood, this can raise some security concerns in the form of external intruders or rogue neighbors. Therefore, you have to ensure you and your fellow residents are safe. When inspecting a property, pay attention to the formal and informal entry points to see if they’re well-guarded. Secondly, look for security cameras and alarms. Lastly, speak to any resident to learn about the building’s history in terms of assault, theft, or vandalism.
When purchasing a high-rise condo in Orlando, you have to consider the recurring maintenance cost that covers everything from garbage management to security and repairs. Generally, older buildings incur greater maintenance costs, so if you have more money to spend upfront, you should opt for a newer building and save in the long run. Furthermore, buildings with multiple amenities, such as terraces, saunas, pools, gyms, and elevators, will attract a higher maintenance fee, especially in new or high-class neighborhoods.
Looking for an Experienced Florida Realtor?
And there you have it – 5 things to consider before purchasing a high-rise condo in Orlando. With this information, you can narrow down and refine your options in terms of neighborhood, amenities, security, and other factors that affect your lifestyle. Whether you’re just starting out or haven’t found the right condominium for you and your family yet, visit Megan Dowdy Realty or call 407-509-9279 to get in touch with an experienced Orlando realtor.