August 1, 2020
What You Need to Know About Buying a Condo Today
By LLCR Staff

These past few months have been nothing but a rollercoaster, but that doesn’t mean you have to scratch all future home-buying plans. Here’s what you should know when looking to buy a condo in Chicago right now:

The Impact of COVID-19 on Buying a Condo

COVID-19 has altered the way we do business in real estate. Moving to completely digital for the time being has allowed us to look into various streams of communication and showing homes while at a distance. Thanks to the 3D touring technologies, you can now virtually tour condos from the comfort of your own home. We have also implemented various safety and wellness measures when touring in-person, such as PPE, daily temperature checks, and social distancing.

The rest of the condo-buying process can also be done almost completely virtual. Sign all contracts online using an electronic signature system. Wire your deposit or one of our team members can pick up the deposit check for you. Inspections are also completely online, as they will send all documents digitally with detailed photos and descriptions. Mobile notaries bring the closing to you. And lastly, we will hand-deliver your keys when it’s time to move into your new condo!

What You Should Know if You’re Looking to Buy

If you’re ready to make that next step in buying a condo, there are a few things to note.

First off, make sure you are ready to buy! Dig into the reasons for your current move and compare those motives to your life goals. If they align, great! If not, it may be best to really look into whether this is the right time to move. 

Once you’ve decided that this move makes sense to you, it’s time to start making your checklist. Before even looking at condos, make a list of your must-haves, would-like-to-haves, and no thank-yous. Think about what is important in your lifestyle and really whittle down what’s necessary for your move. This will be extremely helpful when starting the condo-buying process.

Before you start the buying process, make sure to find the right realtor, and discuss your checklist. Purchasing a condo is a big decision, especially if it’s your first time. Having an experienced agent to help you along the steps of home buying helps you tremendously from finding the perfect condo to making sure all necessary steps are taken throughout the process. 

When you start the hunt for your perfect home, be sure to get pre-approved first. Sellers want to see that you’re a serious buyer and that you’re ready to purchase with a lender in hand.

Luxury Living Chicago is committed to helping you safely find your dream home. Ready to begin the search for your new condo? Take advantage of these condo buyer tips and get in touch with a broker today!

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