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Old 09-06-2011, 08:00 AM   #13
Bilge
 
Join Date: Aug 2011
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Check the budget/association reports to see the pattern of special assessments. This will give you some idea how often they need to assess for repairs, upgrades, etc. If there is some kind of long-term plans, scrutinize these carefully. If the building needs major upgrades, see if there are sufficient reserves for these, or be prepared to face special assessments.

None of these are reasons to say no, but you need to understand what you're getting into. A well-maintained condo can be better than owning a home because you're not solely responsible for the cost or effort of maintenance. But a poorly-maintained condo can be a nightmare.
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Old 11-03-2011, 05:30 AM   #14
rosaanniey
 
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Sounds good to me, thanks for posting.
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Old 12-24-2011, 06:29 AM   #15
Heuvelman
 
Join Date: Dec 2011
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Before you jump into buying a condo, there's 10 questions you should know the answer to:

1. How much are the monthly condo fees and what does it go towards?
2. What are the specific rules of the condominium?
3. How much is in capital reserves and how much gets funded every year?
4. Any contemplated or pending special assessments?
5. How is the association managed: professionally or self?
6. Is there any legal stuff happening that the condominium is part of?
7. How many of the units are lived in by their actual owners?
8. What's the condominium fee delinquency rate?
9. Do you actually own certain common areas such as porches, decks, storage spaces and parking spaces, or are they use rights?
10. The master insurance policy, what does it cover?
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Old 05-26-2013, 03:00 AM   #16
Gladwin Elton
 
Join Date: May 2013
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You should also check the different extras of the structure. Is its lobby clean and welcoming? This is important especially if you love to have friends over. Is there parking for guests? Details like this can surely make things a lot easier in the future.
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Old 08-12-2013, 10:35 AM   #17
Albert
 
Join Date: Aug 2013
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I think to clear all that things you must need to consult with a solicitor there who will give you a better advice.The main thing when you buy a home is the safety at that place.Because if there is violation of laws in that place than you surely don't feel comfort.
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Old 09-11-2013, 05:35 PM   #18
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