Saturday, April 12, 2008

Las Vegas Condo Buying Glossary

Here are some of the terms that you should be familiar with during the condo purchasing process. Some of these are also good tips to remember when comparing condos, and remember that the purchasing process is a long process so it is best to keep a level head and not make any rash purchases. The Las Vegas condo market is complex, so take some time to research and familiarize your self.
Square footage Square footage can be measured any number of ways in condominium plans. If exact measure is important, carry a measuring tape, and work consistently from the inside measure of condo apartments. Divide the asking price by the number of square feet to arrive at dollar-per-foot costs that you can compare. The average Las Vegas Condo is roughly 1000 square feet.
Parking Parking can be an uncovered stall, a covered stall, indoors but unheated or indoors heated and secured. Its legal status can be either assigned common-area space, or legally-titled ownership. If your condo comes with an assigned parking place, make sure that it is clearly defined in the lease. A parking space can be a luxury for a Las Vegas condo because the weather is nice enough to park a car outside year round.
Quality of Construction The quality of construction for condominiums can vary dramatically. Concrete obviously is more long lasting and generally quieter than frame construction, but post-tensioned concrete construction can have problems requiring maintenance. Concrete transmits tapping sounds, while wood-frame buildings can quiver slightly under heavy footsteps. Quality will be your best investment, and I can identify the construction types and any sound issues as you shop. Heating Heating is an chief issue in condo buildings. In apartment condos it is usually central gas-fired hot-water heat, which means the cost is covered by your monthly condo fees. Older hot-water heating systems can be heard, but I still prefer it! Electric heat is convenient, quiet and controllable in each room, but it s expensive. New in-floor radiant hot-water heat is wonderful for warm toes, but if you turn the temperature down, it takes a while to respond.
Age mix Age Mix of owners might seem like a strange consideration, but if you re a young and social, do you want to live in a retirement home? And if you re enjoying a quiet retirement, you probably want neighbors you can relate to and make friends with. In short, condominium projects can become small communities where if you choose the right one you can make many friends and enjoy an in-house social life. Condo Orientation Orientation of the condo is vital if it s an apartment facing only one direction, less so if it s a townhouse or duplex bungalow condominium with more exposures. How much sun does the residence receive, and is that sun shinning in your bedroom windows at 5 a.m. during the summer? You may prefer it, or you might hate it, so be aware of which way/s a home faces and whether it will be bright enough, too hot, or too dark for your needs.
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