Hawaii Condos For
Sale |
Advance MLS Search
 |
Are you in the
condo market and searching to purchase a piece of Hawaii real estate
soon? If so, there are many factors involved and different building
styles to choose from. Ask yourself, “Do I want to search for a town
home, apartment buildings or one of the Hawaii condos for sale?”
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Low rise, high rise or walk up building?
Low rise is a building that consists of 6 floors or less. High rise
is a building that consists of 7 stories or higher. Walk up is a
building or structure with no elevators and you must like it says
“walk up”.
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Fee simple or leasehold?
A simple check mark on your search criteria will allows you to
separate fee simple from the leasehold properties. A fee simple
condo, town home or apartment is one that the owner owns a
proportionate portion or percentage in the land and private interest
of a particular unit from the inside walls and in. On a leasehold
property, the buyer also owns the unit from the inside walls and in
but does not own the land which the structure sits on. A monthly
lease fee rent will covers that. Your condominium docs will
describe what the common areas are and what is not.
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Where do you want to
live?
Choosing the right neighborhood, city or particular building in the
Hawaii real estate market can be a tough decision to make especially
if you don’t know the island too well. Best way to do it is to do
some research beforehand and get to know your community. Do I want
to live near the beach, my work place, kid’s school, shopping,
Church, close to family members or far away from them?
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Maintenance fee?
Your home owners association or condominium owner’s association
assesses each owner a maintenance fee charge which is apportioned
based on the percentage of ownership in the project you live in.
This fee covers the upkeep and repairs needed now or in the future
of the common elements like grounds, parking areas, recreational
facilities and maintaining the external structure of the building.
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Finding a MLS home
search in my price range?
Usually when looking at all the Hawaii condos for sale on an IDX
website, you should enter a dollar amount slightly higher than what
your loan officer pre-approved you for. Since it’s a buyers market
out there, it’s not uncommon to negotiate on a condo or town home a
few thousands less than the asking price. Have your real estate
agent check the seller’s motivation, property condition, type of
listing, days on market before jumping to a price conclusion? A
full price or higher offer on a short sale may still be a tremendous
deal after knowing all the facts. Your real estate agent should
provide you with a comparative market analysis showing the entire
active, in escrow and last sold to get a better idea on the Hawaii
real estate property you are targeting to justify a fair price to
offer.
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