Are you looking into your real estate options? Let’s go through why buying a condo in Hawaii might be a great choice for your next purchase.
Hawaii is a paradise. Look around at the lush, tropical jungles, white sandy beaches, and clear blue water. Add in a unique native culture that includes a beautiful language, delicious food, and rich history.
One day in Hawaii and you can see why people consider it to be heaven on earth. You may go on vacation and realize that you never want to leave. And you might not ever have to.
If you want to wake up in paradise every day, consider buying a condo in Hawaii. Here are some questions to ask, so you find out what you need to know about buying a little piece of paradise.
Does the Condo Have Amenities?
One of the defining features of a condo is all the amenities it can offer the residence. This is especially true on Hawaii’s islands, where paradise is infused in every aspect. The amenities that condos offer can often be what makes the deal.
So it’s essential that you figure out what amenities you’d like to have in your condo building or complex. Pools, tennis courts, and rooftop patios are just the tip of the mountain in what Hawaiian condos can offer.
Be sure to get a list of the amenities a condo community offers and compare them, so you get to enjoy all the benefits of paradise.
Are There Maintenance Fees?
As previously stated, amenities are a great bonus of living in a condo. But all those pools, sports courts, rooftop patios, and more don’t come cheap. In a condo, it’s the responsibility of the residents to pay the fees that maintain these amenities.
So don’t think that you buy the condo and you’re done with it. The more amenities our condo has, the more you will likely pay in fees. Maintenance fees are monthly and can range from hundreds to a couple of thousand dollars.
Be sure you know what you’re expected to pay each month since that will factor into your total budget.
What Rules Has the HOA Set Up?
Another common feature of condos is an HOA, a homeowners association. Many people have strong opinions on HOAs, and they can be both a blessing and a curse. And because HOA rules vary by building, it’s essential you find out what they are.
You will have to abide by these rules, so it’s in your best interest to get a copy of the building rules before you buy. If the rules are too strict, that may be your sign to move on to the next building.
Is the Condo Pet Friendly?
If your furry friend is planning on making the move with you, you better make sure they’re allowed in the building before crossing the Pacific. Not every building will allow you to have a pet, and some that do may have restrictions.
Before buying, make sure your fur baby is allowed to live in the building. You should also compare pet amenities between buildings. Extras like community dog parks and pet washing stations can be a major bonus.
What Financing Is Available?
Planning on financing your condo by taking out a loan to pay for the purchase? Before you do, you’ll have to do some research. Most times, the condo has to meet the requirements set out by the lender.
Government loan programs only work with pre-approved buildings. Not every condo will meet the requirements. Before taking out a loan, it’s best to have a conversation with your lender to know the right move.
Are There Strict Renting Rules?
The beauty of Hawaii is enough for most people to consider moving there. But if you’re thinking logically, you’re probably asking: is buying a condo in Hawaii a good investment? Most often than not, the answer is yes.
Buying a condo in Hawaii as an investment property is a good idea because the islands are popular travel destinations. But before you buy a condo to turn it into a rental vacation home, make sure you’re allowed to do so.
Some buildings may have stricter rules than others about renting out units. Be sure the HOA is alright with vacation residents, and know the state laws regarding rental properties.
When Was the Condo Built?
This may be a question you haven’t thought to ask, but it’s essential if you want to get a full picture of what your life in Hawaii will be like. There’s a huge range of building ages, and that can affect your day-to-day life in your condo.
You may find that in older buildings, there are maintenance problems and issues with the upkeep that newer buildings don’t have to deal with.
If an older building has problems with the elevator or pipes often, it’ll take away from your experience. So this can be an enlightening question to ask before you buy a condo.
Can You Renovate?
Before you fall in love with a fixer-upper, make sure you understand what projects you can undergo. Renovation is one of the biggest pros and cons of buying a condo in Hawaii.
Your unit may have had work done prior, and in that case, you should ask about the remodel. Who completed the remodel, and were they licensed? Were there permits, and can you see them?
And, if you want to put your mark on the unit, make sure you know what kind of renovations you’re allowed to do. Be honest about your future projects so you know what you’re allowed to do and what you aren’t.
A Little Piece of Paradise: Buying a Condo in Hawaii
Who doesn’t want to spend their days on sandy beaches enjoying a rich culture and eating delicious food? For most people, this sounds like a dream that only comes true through a week-long vacation.
But if this sounds like a life you want to live every day, you should consider buying a condo in Hawaii. With your own piece of paradise, you can wake up to bright sunny days, spend your afternoons on the water, and spend nights at world-class restaurants.
Ocean views or jungle views? Are you ready to find your place on the Islands? Let’s chat about your new home in paradise.