Real Estate Blog
Are condominiums a good purchase? Let's find out now.
Making the decision to purchase a home has always been one of the biggest decisions you will make. Contemplating a condominium versus a home just adds to the confusion. Many of us really have no idea what condominiums are all about? What is an HOA? What is an HOA fee? Is a small condominium community right for me or do I want the 150 unit high-rise?
Being educated about condominiums is your first step and having a realtor who is educated about condominiums is just as important.
Initially, condominiums can be very attractive. The Homeowners’ Association takes care of the grounds, they take care of the building, they take care of security. Some buildings have a full staff on-site at your disposal. But at what cost?
Condominiums are a great option if you are done with worrying about a new roof, a new AC system, who you will pay to take care of your pool, and your grass. A condominium can be a wonderful choice.
When looking at condos, make sure your realtor is educated about condominium life as well. You have the right to ask for the Homeowners’ Association Documents. Additionally, you have the right to ask for the financial statements. You need to look at the financials to ensure the condominium is in good financial shape. The last thing a new owner wants is to be assessed thousands of dollars within a month of moving in.
Condominiums can be a great lifestyle choice for you and an educated realtor can make this happen.