Blah...HGTV lies. House hunting is not fun. I found a house I loved. But something screwy is going on with the owners and the bank so no go there. There is a condo that I like but I'm not sure that is the way I want to go. Advantages - Disadvantages? Come on Lois -"let me have it"
Sent from my Verizon Wireless BlackBerry
June 14, 2019
6 years ago
4 comments:
My 1-1/2 cents worth...
Condos are in a glut right now. So you may not be able to get what you want out of it when you sell. so, buy low! Think about how many buildings there are in town that aren't finished. If you're buying it to live in it... go for it. Buy low! (can't say that enough)... It all depends on the market. It's a buyer's market now...
Get a copy of the homeowner's association bylaws and read them. Also get a financial statement. Are they in the hole, spending money wisely? Also find out when the last assesment was, if any. I would also add a clause in the contract that if there's an assessment within a specified period of time, that the seller is responsible for it (6 months, year... whatever you and your realtor think is reasonable). Assessmnets are above and beyond the monthly fees.
What do the assocation fees include? When was the last fee adjustmnet.
Condo advantages: Common areas maintained. Usually more space for the buck... no yards!
Would love to know where it is... drop me an email. you know where to find me...
email me the MLS# Inquiring minds want to know...
more...(well, you asked!) HAHAHAHA!!!
I love condo life! It works well for us.
Each complex has its own flavor. Ours is a highrise that has a doorman, so it's fairly secure. When we leave town packages are signed for and mail is in a secure location.
Some condo complexes have the advantages of apartment complexes with pools/gyms, and party rooms.
Are the residents/neighbors similar to you? Great place to meet people. Do they have regular social activities? Some do.
Forgot to say wehn you get the financial statement, make sure they have adequate cash reserves. You're an accountant, so you know what's prudent.
What alterations can you make to your unit? Can you make any exterior alterations?
Just know there are lots of condos on the market and tons are in the process of being built. Certain price points will be more numerous than others.
Location is key...but that's true with all real estate.
Buy low...buy smart... But I ahve faith that you will...
My next move is to a condo. But I'm an old fart and lazy. Love to look at my yard. But I pay $50 every 2 weeks to have it cut. $45 6 times a year to have weeds sprayed, We just painted the outside. The house is only 4 years old.
All things to think about.
Post a Comment