You Just Bought a Condo…Now What?

There are numerous things that a new homeowner has to take care of. The dozens of Myrtle Beach, SC condos for sale ads may have compelled you to purchase one for yourself, but now what? You have already done your new condo owner dance.

Now, it’s time to make sure that all the paperwork is proper by meeting up with your real estate lawyer and agent. Double check that everything is approved, finalized, and completed.

Then get started on this comprehensive checklist:

1. Purchaser’s Visit

You need to get your real estate agent to schedule a purchaser’s visit so that you can pick out the paint, measure the condo for furniture, and get quotes for anything else you want done. You should also consider hiring movers. There are several moving companies in Myrtle Beach that can help you pack and move your stuff safely or you could just use U-Haul.

2. Property Management

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Most Myrtle Beach, SC condos for sale require the new owner to register with property management. This will ensure that you are on record as the owner. This is important if you want guests to be allowed in remotely or have parcels delivered. Sometimes, new condo owners receive a welcome package from the property management company.

3. Check Everything is Working

Don’t accept the keys before ensuring that everything is in order. You need to make sure that all purchase agreement terms and conditions have been fulfilled. Try switching on all the fixtures to see whether they are working.

You would be surprised at the number of times dishwashers stop working and plumbing gets blocked just as a condo deal is closed. Your real estate agent and lawyer would be able to help you if something is amiss.

4. Home Insurance

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Now that the deal is finally closed and you are about to move in, you should consider purchasing home insurance. Generally, condo buildings already have insurance, but these won’t cover you or your belongings.

5. Get Involved

You are a condo owner which means that you have a stake in the management of the property. You should consider getting involved by interacting with other owners. There is no better place to meet other owners than condo board meetings. Ask the front desk about the next scheduled meeting.

While you are at it you should also get information about the building’s common areas. Is there a swimming pool in your condo? How can you access it? Ask the front desk to take you on a day tour so that you are familiar with everything your property has to offer.

6. Budgeting

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You need to take account of your overall financial situation. While renting you had to make a fixed monthly payment, but now that you are the owner of the property you need to pay for maintenance, mortgage, taxes, and utilities.

Budgeting is important since all the bills are going to come to you. You also need to make sure that you know your responsibilities and rights as an owner.

And, don’t forget to enjoy your new home!

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