what to look for when buying a condo
For many, purchasing a condominium seems like a win-win situation- you get to enjoy the perks of homeownership without all of the responsibility of a single-family home. There are many pros that draw.
Real Estate Broker Pierre Carapetian gives us his expert advice on seven things you need to know before buying a condo.. If you’re a well-established couple in your late 50s looking to come to.
Just like the neighbors, a HOA or condo board can make or break your living experience. Before you buy, ask to see the HOA’s rules and regulations, and request a copy of a recent meeting’s minutes. If you don’t feel comfortable with the rules or the board’s decision-making processes, consider looking elsewhere for your new home.
Be wary if there are many condos for sale in the building. Unless it’s a brand-new construction looking to welcome the first group of condo owners, you might want to think twice about purchasing in a community with many properties for sale. This could mean that there is a high level of dissatisfaction with the building and living conditions. If.
When you buy a condo, you own only what is inside the walls of your unit. Outside of those walls, the residents of the complex share ownership in a cooperative bound by a contract.. Take a look.
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Look for past or pending special assessments, talk of litigation, infighting or ongoing problems. Marsh, who is now president of his condo’s homeowners’ association, recommends meeting with, or.
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And remember, condo association fees are not tax-deductible like your mortgage is. You also need to look closely at the Repair Fund. Every condo association must put a certain portion of dues aside for major repairs. If the complex is less than 10 years old, the repair fund should have 10%.
In this article, we’ll be looking at some of the things you should look for when buying a condo. A Perfect Location. In real estate, one of the things that matter most is the location. Whether you’re buying the condo as your primary home or an investment, its location will impact both the current price and future appreciation.
In a Colorado resort that has lots of new things for families to enjoy in summer, you can find like-new luxury condos that.
That compares with at least 315 apartments and 144 condos and townhouses at this time a year ago. An artist’s rendering.
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