Knoxville, TN is a top 100 city to live in and offers a wide array of housing options to match various lifestyles. With beautiful single-family homes, this diverse and multi-faceted city also features a number of condominiums. These condos that appeal to homebuyers, prefer the convenience and security of this type of property.
A Knoxville condo are just as varied as the single-family homes in the area. Finding the perfect condo can be a bit of a challenge.
To make the process easier for you, check out the following pointers for buying a Knoxville condo:
Get mortgage pre-approval
Pre-approval will give you an idea on the size of the mortgage you may qualify for. Condos in Knoxville come in a wide range of prices and sizes. By knowing how much house you can actually afford, you can narrow your choices considerably. If you like a property that’s priced more than what you’re pre-approved for, you can plan on how to pay for the difference ahead of time.
Look into HOA fees and other costs.
A Condo in Knoxville usually come with monthly homeowners’ association fees, which go to the upkeep of the property. This is the trade-off you get for the convenience of not having to worry about your home’s maintenance and for the use of your building’s amenities.
Check the location.
Since location is an important factor to consider when buying a condo in Knoxville, regardless of the property type.
You can find many condos in the Knoxville downtown area. This means you’ll be close to the city’s best shopping, dining, and entertainment options.Other properties are waterfront, giving you great access to Knoxville’s lake Loudon.
In addition to nearby destinations, consider a condo’s proximity to your workplace. If you need to commute to work, check out your transport options. Make sure the real estate trends, noise levels and area is right for you.
- Consider the amenities. Many condos boast desirable amenities like swimming pools, fitness centers, walking paths, and others. These are great benefits, but more amenities means more HOA dues.
- Look into the quality of the building’s management. Is the property taken care of? How often do they do the upkeep and how responsive is the management to occupants’ maintenance needs? Good building management not only enhances your comfort, it helps in improving the resale value of the property.
- Look into condo rules. Check if you can live with the restrictions that may be in place. If you have pets, make sure the building allows them. If you’re thinking of leasing your unit, ask if this is ok.
- Consider the condo’s interior. Are you thinking of changing the flooring or the countertops? Due to the size of some of the condos, consider remodeling a condo if you need to add structural changes. Due to the restrictions on some of the condos, this may be more difficult than remodeling a home. You may need to get the approval of the condominium board first. It would be best to find a condo that already meets your interior preferences.