Beat the Chicago Heat in a Lakefront Condo

Chicago lakefront condos offer a perfect way to beat the summer heat. Step out onto your balcony and enjoy that refreshing breeze off Lake Michigan, or throw on a swimsuit and head down to the water whenever you please not to mention, many of those high-rise condos along Lake Shore Drive have pools where residents can take a dip and do a few laps. The rooftop swimming pools are especially nice in hot weather because you can be outside and bask in the sunshine, then jump in the water to cool off whenever the mercury levels rise.

A number of Chicagos lakefront condo buildings are equipped with outdoor areas that range from landscaped terraces to designated doggy runs. Some condos invite residents to grill up steaks (or veggie burgers) on the barbeque and dine al fresco while taking in a view of Lake Michigans endless blue horizon. There arent many places in the world where you can take an after-meal stroll along 18 miles of unobstructed freshwater shoreline but lucky for us, Chicagos lakefront real estate affords that type of luxury to condo owners from the South Shore to Edgewater.

Proximity to Lake Michigan is a huge selling point for residential real estate in Chicago. For the most part, the closer you are to the lakefront the more valuable the property. Of course, not many condo buildings are technically “on the water” due to a city initiative that preserves the land for public parkland and open access to Lake Michigan. Minus a few high-rises north of where Lake Shore Drive ends, most condominiums were built west of The Drive. Still, there are plenty of housing options in Chicago that put you within a couple minutes walk of Lake Michigan.

The condo buildings in downtown are among the most notable. There is a relatively new development in Chicagos New East Side neighborhood that boasts thousands of lakefront condo units. Many of these state-of-the-art skyscrapers offer amazing views, full-service amenities and a location that cant be beat. It goes without saying the higher the floor the more spectacular the view. And those upper-floor condo units with east-facing exposures take the cake for best vistas in Chicago because its pristine aquamarine as far as the eye can see.

Residents of New East Side can expect to find things like exercise facilities, business centers, 24-hour doormen, valet parking, dry cleaners and common party rooms in their buildings. The high-rises surround a large park area with walkways that connect to both the Chicago Riverwalk and the Lakefront Trail. So, when the mood strikes, these Chicago condo owners have their choice of waterfronts to enjoy.

No matter what the new-fangled developments promise, there is one lakefront condo in Chicago that (literally) stands out from the restLake Point Tower. It is the sleek, black building that looks like a three-leaf clover and stands alone to the east of Lake Shore Drive. This 70-story condominium is the only residential structure on the lake side of The Drive. With two pools, a rooftop restaurant, a private wooded park and incredible panoramic views, it may be just the place for anyone in search of that perfect summertime condo in Chicago.

Experiences In Living In A Condominium

Thinking of living in a condominium unit? But before buying a condo unit, have you ever asked if what kind of experience would you expect in living in a condominium? Different condominiums can offer different advantages, benefits, disadvantages, and consequences. So before purchasing a condominium, try to investigate what experiences do residents have in living in a condominium.

Experiences in living in a condominium Condominiums have become a very popular type of housing in many countries around the world, such as in the Philippines. According to many real estate experts, condominiums have become the most popular and in demand type of residential Philippines properties available in the market today.

There are different types of condominiums in the market today. There are condominiums found in the city, while other condominiums are found in the outskirts or even in provincial areas. Each type are known to provide different experiences to its residents. First is with the typical condominium found in the city.

Lifestyles in living in a condominium in the city According to many Filipinos living in condominiums , the first thing that many of its residents would experience is its luxurious living space. Because most of these types of Philippines properties are found in the heart of the busiest business and commercial districts, most of these types of condominiums are built to provide the most luxurious living space, both in exterior and interior designs.

However, the main advantage that many Filipinos have experienced in these types of condominiums is its convenience in allowing its residents to live within walking distance to their workplaces, a kind of feat that other types of housing lacks. However, residents can still enjoy their privacy within their own units.

However, there are other condominiums which can provide a different sort of experience to its residents, such as those living in a condominium complex.

Lifestyles in living in a condominium in the outskirts Compared to condominiums in the city, condominium complexes are mostly found in the outskirts while others are even found in provincial areas. Although not as beneficial in terms of accessibility to workplaces compared to condominiums in the city, these types of Philippines properties can provide a different experience, particularly for Filipino families.

According to many of those Filipinos living in a condominium complex, the first thing that residents would experience in these types of condominium is its peacefulness, which is in comparison with that of the city.

Another popular experience in living in a condominium complex is its amenities, such as swimming pools, gyms, recreational parks, and playgrounds in which residents can freely and exclusively enjoy.

The disadvantage of living in these types of condominiums, however, is that residents have had difficulties getting back to the city, particularly because of rush hour.

Different Condominiums for Different Filipinos

Condominiums, according to many real estate experts, are some of the most popular and in-demand types of housings in the Philippines. There are many reasons as to why this is, and one of those is its continuous evolution to provide the best types that many Filipinos needed in today’s rapidly changing needs.

Different Condominiums for Different Filipinos There are currently two popular types of condominium Philippines today. There are those that are found in business and commercial districts, while others are found in the outskirts or even in the provinces.

Condominiums in the City According to real estate experts, condominiums were first established in business and commercial districts. Their aim is to provide Filipinos with residential real estate that allows them to easily and conveniently access their workplaces as well as other popular entertainment locations (such as malls, shopping centers, etc.).

Because of its location, and the benefit of its accessibility, many Filipinos found these types of housings appropriate for their needs, making it easier for them to avoid the hassles of rush hour. However, though found in one of the busiest districts, these condominiums can still offer its residents the privacy, peace, and relaxation that they needed.

Other than its location, however, many condominium Philippines are also known for its amenities. Some of older condominiums offer gyms as their amenity, while some of the newer ones can offer indoor swimming pools and sports complexes as amenities, which adds to the popularity of condominiums in the Philippines.

However, though known to offer spacious units, allowing families to live comfortably, many Filipinos still found these types of housings inappropriate for their needs and the needs of their children. This is because of its lack of facilities that can accommodate a growing child. This is the reason why condominium complexes were established in the market.

Condominiums for Families Condominium complexes, compared to other types of condominium Philippines, are mostly found in the outskirts, or even in the provinces. Because of this, condominium complexes are known to offer a much more family-oriented environment for modern Filipino families.

Compared to most condominiums in the city, condominium complexes are known for its wide open spaces, allowing children to run and play safely. Other than swimming pools, gyms, and sports complexes, condominiums are also known for its recreational parks and playgrounds which made it more family oriented compared to condominiums in the city.

The disadvantage of these types of housings is its location, which made it harder for its residents to get back to their workplaces, particularly because of rush hour.

Condominium Property Development- is it right for you

Condominium properties are selling these days and because of this, many people who are interested in property development are looking at whether buying condos is a good choice for them. While many condominiums are a good choice for you to buy and develop, others may not be. Here are a few things to look into when deciding whether a specific property is right for you.

Are new or existing condos selling better?
There are some areas where existing condominiums are selling better and more quickly than new builds are. In many areas, this trend is reversed. People are more interested in getting into a brand new property than they are one that has been around for some time. It is important to know which situation you are dealing with. You do not want to purchase an existing property and then find that you are unable to resell it when you are ready to move on.

As well, new builds can be difficult to develop unless you are willing and able to purchase several properties at once. Buildings that are being constructed are often customized to a purchasers specifications and preferences and this makes it difficult for you to move in and put your own stamp on a place.

Look at the fees and the financial documentation
It is important to know what you are getting into when purchasing a condominium for development. You need to find out what the HOA fees are. If they are too high you may have a hard time moving a property. Price can be negotiated but HOA fees cannot be. If the fees are very low, however, a homeowners association or condo board may not have enough money to pay for repairs to the building. This can mean that if large repairs (such as broken elevators or other structural issues) need to be performed the condo owners will need to pay the extra money to cover the cost. This is not a good situation and many real estate lawyers will warn buyers away from these properties due to the risk involved.

Rules and regulations
If you have found that existing properties are selling well and a condo board has a sufficient reserve fund in place it still may not be a good idea to purchase a property in some condominium complexes. You need to take a look at the rules and regulations that exist in the building. If there are too many or they are overly restrictive you may find that it will deter potential buyers from purchasing the property you are offering.

You also need to find out what rules and guidelines you will need to adhere to during a renovation. Is there a restriction on colors that you can use on the exterior of a unit? Are there time restrictions that may impact when and how you can work on a project? All of these things can influence the success of your property and so it is important to take them into consideration when deciding which condo you will ultimately purchase.

Condominiums – A Smart Investment

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Condominium Purchase In Thailand

Condominium Purchase in Thailand

Purchasing a condominium in a tropical paradise is a dream for many foreigners who wish to escape the cold winters and the high cost of living in their home country. Thailand offers the foreigner many benefits including beautiful beaches, tasty food, friendly people, world class health care and inexpensive property. Many foreigners come to Thailand to purchase a condo for various reasons: for their retirement, as a second residence or for investment purposes. For those who desire to stay longer in Thailand, the ability to acquire property is an important issue. Many foreigners prefer to reside in a condominium since there is less maintenance involved for the owner. You can simply close and lock the door until your next stay. Projects in Thailand offer 24 hour security so you can feel safe that everything will be as it was when you left. From the perspective of a Legal Advisor, I would like to share with you the process so you’ll feel secure of your purchase of a condominium in Thailand.

Legal Structure

In Thailand, a foreigner may own a condominium 100 percent in his/her own name. Freehold title for the condominium purchase is the most secure method of ownership for the foreigner. If the project is over the 49 percent quota for foreigners, you may need to draft a lease contract for your transaction. In Hua Hin we do not find this problem since Thai owners are the majority in most condominium projects.

Legal & Financial Planning

Before you sign any deposit agreement or contract, you should sit down with a lawyer or solicitor to discuss the legal process. You need to know the correct legal process in Thailand for the foreigner to purchase a condominium. Remember that you are spending part of your life savings to acquire this property and you must carefully plan your steps in the process. Some banks will offer up to 70 percent financing to foreigners for purchasing a condominium. The repayment term can be as high as 20 years. Siam Legal offers free legal consultation to potential property buyers. You should get the legal facts of the property and contract laws in Thailand before you deposit any money.

Title Investigation

A comprehensive examination of title deed recorded at the Land Department should be done. You need to verify that the Seller has clear and legal title of the land before you enter into a contractual agreement. The title search will trace the land to its first possession. Don’t take the word of anyone who tells you it has been checked before. The lawyer conducting the title investigation will provide you a full report and a copy of the title deed in English language.

Due Diligence

Every financial transaction requires some sort of due diligence on behalf of the purchaser to verify that it is a sound investment. When you purchase shares of a company listed in stock market or a mutual fund you will generally research the profile and performance of the company or fund. The same is true when you purchase a property from a developer. You should check with the previous buyers to see if they are satisfied with the quality and time frame of construction. If you don’t have the time to spend on checking the history of the developer, a local lawyer near the development will know or can check the project, its directors and their reputation.

Deposit

When you feel satisfied with the property and it meets your expectations, you will be asked to make a deposit to show your good faith to continue the process. In return, the Seller will reserve the unit for you and start the process by drafting the contracts for purchase. Unless you write specifically a “get-out” clause in the deposit agreement, for example “subject to clear title” or “subject to agreement on the contract terms,” the money deposited is non-refundable.

Construction Contract

There are some fundamental elements which should be included in every contract. These are, among others:

1.Time frame

An agreement should have a time frame which stipulates clearly the starting date for construction as well as its completion date. Check for any extension clauses which normally give the developer a few extra months to complete without incurring any penalties.

2.Payment Penalties

Check that the penalties for default of payment are not too burdensome on you. Terms such as immediate rescission of contract and retaining the money you have already paid are not uncommon but there should be a period given to you to remedy this default.

3.Developer’s Default

Ensure that you have some recourse to a full refund in the event that the developer does not complete the construction due to insolvency or for any other reason.

4.Late Completion

Penalties should be given to you if the completion is late. This is normally deducted from the final payment due upon completion. Penalty rates vary greatly in Thailand although for condominiums there is a daily minimum penalty of 0.01 of the property’s value was made available to foreigners who did not qualify for a local loan. This gave many foreigners access to finance for their dream homes even if they did not reside in Thailand. Up until this time, there were only a handful of private offshore firms offering lines of credit of this kind and often at rather stringent and unattractive terms.

Bangkok Bank in Singapore still offers such loans to foreigners and the demand for this is increasing. They are able to tender loans in several currencies including US and Singapore Dollars (SGD). Currently, the interest rate for SGD loan stands at 6.00 for USD and 6.00% for SGD. However, it appears their processing fee may be slightly higher but offers the advantage of applying for the loan locally in Thailand without having to set foot in Singapore. UOB’s entrance into this niche market is a welcoming sign to the area of financing to foreigners in Thailand.

“Flipping”

Many investors target a condo project when the development first launches. They are keen to purchase the plum units in the project as an investment. Later, the investor will resale or “flip” the unit typically before the legal interest is registered at the Land Department. The value of the unit increases prior to the completion or title transfer. These investors will capture their profits without their names ever appearing on the title deeds. Care and caution should be exercised if you are “flipping” the unit since some developers will not allow assignment of the unit to another person. Some developers will allow this option but they will charge a very high administrative fee or even a percentage penalty.

Summary

Living in Thailand should be an enjoyable and relaxing experience. If you plan and prepare in advance for the acquisition of your property, you will be rewarded for your efforts. Those who take short cuts in the recommended process above will save some money but in the end it will not be worth it if something goes wrong. Property is a solid investment in Thailand as well as a great place to live while enjoying life in paradise.
Thailand Property & Real Estate Legal Services – Attorneys – Solicitors

Characteristics Of A Townhome

When it comes to home buying you have many residential options available to you. There are single family homes, condominiums, and townhomes. The simplest definition of a townhome is it is a house that is attached to other houses. When townhomes first hit the scene, only the rich could afford them. These homes sat on small bits of land but were built tall, sometimes with 6 or more floors, to provide luxurious accommodations to wealthy residents. They were popular in big cities were the number of residents negated the possibility of owning a single family home. This included cities such as New York, Chicago, Boston, Philadelphia, Toronto, and San Francisco.

Today’s townhomes are still built on small parcels of land that the homeowners owns but they are generally not as tall, currently going only as high as three stories. They differ from condominiums because they are not stacked on top of each other and the homeowner actually owns the house. With a condo, the common areas must be shared but in a townhome everything belongs to the owner including the garage if there is one. Townhomes can, but not always, have a front and back yard. However, some Homeowner’s Associations in townhome communities will take care of the lawn mowing and other gardening needs.

The advantages to owning a townhome is that they tend to be cheaper than single family units but many increase in value faster. They are more spacious than apartments, yet still retain the feel of community living for those that like to have people around. For people living in major cities, sometimes a townhome is the only way to own a home in that area because the population is very dense. Because there isn’t much exterior area, maintenance of the home tends to cost less and be less time consuming.

But as with all things, there are some drawbacks to owning a townhome. While you may not have neighbors above or below you, you do share walls. You get a little more privacy than living in an apartment but it is still considerably less than living in a single family home. Often you are subject to Homeowner’s Association fees, policies, and restrictions. And they offer very little green space which could be terribly disappointing to those with pets or children. All in all, a townhome can be a great investment as a starter home or even as a second vacation home in a popular city.

Houston Condos – Best For Modern Lifestyle

Houston condos are just the right living places for present day generation. The busy people aspire for an easy, maintenance-free lifestyle with fantastic amenities. Condos in Houston cater to all their needs. They provide various facilities like pools, saunas, tennis courts, fitness centers, clubhouse, valet parking, and much more. Party rooms or rooftop terraces offer perfect venues to host parties for friends and families. Spacious and interesting dcor are ideal for entertainment.

High-rise condo living is the trend of the day. Houston condos offer convenience, luxury, and freedom to their dwellers. They provide an affordable opportunity for people to live in high-rise buildings. Houston condos for sale allow a buyer to own an apartment in the condominium. The resident not only owns the house but also shares the common places with the other homeowners. This is similar to home ownership but has an elected Board of Directors to manage the building’s business and make residential decisions on behalf of homeowners.

The varied styles of Houston condos offer innumerable options for the people who want to buy homes in high-rise condominiums and lofts. It is advisable to approach right service providers or real estate agents to find out about the various Condos for sale in Houston. With better information and knowledge, the agents work diligently to find a condo that suits the client’s budget and needs. They can find the best Houston lofts for sale and rent for a client who is moving in or out of Houston.

People who want to sell homes or their Houston lofts also benefit from these agents in getting maximum exposure to the right purchasers.

Getting out and meeting people has become very difficult with life getting busier than ever. But, Houston condos offer a lot of social interaction at the pool, gym, association meetings, and so on, where people inevitably run into their condo neighbors.

Condominiums The Kinds of Benefits that made it Modern

Condominiums are some of the most popular types of housings in the Philippines today. This is because of the kinds of benefits that allows its residents to easily live their lifestyles in comfort. So what are those kinds of benefits?

Benefits of Modern Condominiums One of the many reasons why condominiums had gained a lot of popularity in the Philippine market is because of its benefits that can conform to the needs of Filipinos who works almost around the clock, such as company and corporate executives, high-wage earners, as well as businessmen and women. This is because most condominiums in the Philippines are found in business and commercial districts.

Because of the location where condominiums are found, its residents can easily access their workplaces as well as their businesses with relative ease, which is unlike that of living in a typical house found in residential districts. This also allowed them to easily avoid the usual hassles of morning rush hour.

However, condominiums are not the only types of housing in the Philippine market that can offer residents the luxury of its accessibility. Apartment buildings are also known for this benefit. So what kinds of benefits can condominiums offer that made it even more popular?

According to many Philippine real estate experts, the reason why condominiums became popular and in-demand among many modern Filipinos is because of its collection of unique amenities, such as its own maintenance and security personnel.

Many experts have said that condominiums were the first types of modern housing in the Philippine market that constantly offered their own maintenance and security personnel. With this benefit, residents are assured that their homes are maintained properly, while they are assured of their safety within the confines of the condominium.

In addition to that, condominiums are also the only types of modern housing in business and commercial districts that can offer their residents resort facilities such as swimming pools, gyms, and sports complexes.

Evolution of Condominiums Condominiums had also continuously evolved to accommodate the growing trends of Filipinos. A popular example is the introduction of condominium complexes, which are types of condo Philippines found in the outskirts of Metro Manila as well as in the provinces.

Because of its choice of location, which also provided residents with unique benefits such as wide-open spaces, privacy, and security, along with facilities that caters to the needs of growing children such as parks and playgrounds, condominium complexes quickly became a very popular type of housing for growing Filipino families.

Condominiums are some of the most popular types of housings in the Philippines today. This is because of the kinds of benefits that allows its residents to easily live their lifestyles in comfort. So what are those kinds of benefits?

Benefits of Modern Condominiums One of the many reasons why condominiums had gained a lot of popularity in the Philippine market is because of its benefits that can conform to the needs of Filipinos who works almost around the clock, such as company and corporate executives, high-wage earners, as well as businessmen and women. This is because most condominiums in the Philippines are found in business and commercial districts.
Because of the location where condominiums are found, its residents can easily access their workplaces as well as their businesses with relative ease, which is unlike that of living in a typical house found in residential districts. This also allowed them to easily avoid the usual hassles of morning rush hour.

However, condominiums are not the only types of housing in the Philippine market that can offer residents the luxury of its accessibility. Apartment buildings are also known for this benefit. So what kinds of benefits can condominiums offer that made it even more popular?

According to many Philippine real estate experts, the reason why condominiums became popular and in-demand among many modern Filipinos is because of its collection of unique amenities, such as its own maintenance and security personnel.

Many experts have said that condominiums were the first types of modern housing in the Philippine market that constantly offered their own maintenance and security personnel. With this benefit, residents are assured that their homes are maintained properly, while they are assured of their safety within the confines of the condominium.

In addition to that, condominiums are also the only types of modern housing in business and commercial districts that can offer their residents resort facilities such as swimming pools, gyms, and sports complexes.

Evolution of Condominiums Condominiums had also continuously evolved to accommodate the growing trends of Filipinos. A popular example is the introduction of condominium complexes, which are types of condo Philippines found in the outskirts of Metro Manila as well as in the provinces.

Because of its choice of location, which also provided residents with unique benefits such as wide-open spaces, privacy, and security, along with facilities that caters to the needs of growing children such as parks and playgrounds, condominium complexes quickly became a very popular type of housing for growing Filipino families.

Condominiums and Property Development

If you are interested in property development you may have looked at the many condominium properties and wondered if they are right for you. The fact is that it is possible to purchase a condominium to develop but there may be different challenges and setbacks that can be associated with such a project. Here are a few things to consider.

Condominiums do sell well for many different reasons. The first is that they are usually very low maintenance. A person who is purchasing a condominium does not need to worry about property maintenance in many cases because it is taken care of in the HOA fees. A condominium complex often includes many amenities that people find appealing such as pools and gym facilities.

However there are some drawbacks to property development in condominium complexes. The first is that there may be a large number of rules and regulations about what is permitted and what is not permitted in a condominium complex. You can get a copy of the rules that will govern life in a condominium complex. You need to consider whether the rules and regulations are too restrictive or whether they will appeal to the widest range of buyers possible. You also need to make sure that you will be able to make any necessary changes to the property when you develop it.

You also want to make sure that the condo association is in good shape financially. This is important. There needs to be enough money to cover major repairs. If the HOA fees are very low and it seems as though there are quite a few amenities this may mean that there is not enough money to cover any emergency situations that come up. You need to be able to get a complete breakdown of the fees and costs so that you can pass it on to potential buyers if you do decide to purchase and develop the property. Just remember that if a condominium complex is making alarm bells ring for you it is likely that they will do so as well for potential buyers.

If you are planning on doing renovations that can be quite expensive it is important to look at comparables that have sold in the building or complex as well. The last thing you want is to find that a property will not sell for a price that is high enough to cover the money that you have paid out to renovate and develop the property to your standards.

By doing your research and choosing the condominium property that you want to develop you can feel fairly confident that you will be able to purchase, renovate and then resell a property and make the kind of profits you are looking for.