The city of Minneapolis has been consistently ranked by different lifestyle publications as one of the top cities to live in America. The name Minneapolis means ”city of the lakes” which is an accurate description because the city is surrounded by water everywhere. An interesting fact about the city is that it also has the most selfless people with about 40% of its adult population being involved in philanthropic activities.
The city is known for its spectacular high rise buildings. If you intend to move to the city, there are a few things you need to know about buying a high rise Minneapolis apartment.
Apartments in Minneapolis
If you are moving from Southern California, you will be pleased to learn the Minneapolis is a good place to live, work, have fun and bring up a family. There are numerous properties to choose from and you need to keep your eyes open for a good deal. However, before you make a commitment on any property you may want to ask a few questions.
When you find an apartment you like you should find out whether when the building was first build it was meant for apartments. If that was not the original objective, you will discover that the soundproofing between units will be less than impressive. Something else that you need to keep an eye on is the type of buildings in the immediate neighborhood.
Although you may not control what happens, the next door buildings may affect the value of your property. In the worst case scenario, a 30 story building may come up next to your balcony completely blocking your view of the skyline. A good agent should have some insights on upcoming developments in the area.
When you purchase an apartment in a high rise building, you will be expected to make some contributions to the home owners association account of the building
These fees are meant to be used for shared services such as security, utilities, insurance and garbage collection among other services. It is important to make inquiries about the amount of money you will be expected to contribute. The state of the building will also inform how much you may be expected to contribute for maintenance and repairs.
A new apartment is best because it has lower repair and maintenance fees but on the other hand its purchase fee may be much higher. Some areas generally have higher fees that may add up to a substantial amount every year.
Every building has a pet policy and therefore if you love pets you will need to make the appropriate inquiries regarding the Minneapolis apartment building of your choice
Apartments that are a small distance from the city center may allow pets because of the availability of green areas.
However, as you get closer to the city center, it becomes harder to keep a pet due to space restrictions. A fact that many people often overlook is the number of rental units in the building. If the apartment building where you are purchasing unit has too many rentals, it may affect your financing. It is assumed a building with many home owners will generally be well taken care of.
Minneapolis is a great place to live and if you find your perfect apartment, you will never regret moving to the city.Read More