with Century 21 Advantage
Condos come in many shapes and styles.
They can be an apartment style or row housing, they can have a garage, underground parking or outside parking. While most condo complexes are different but they all have one thing in common – less maintenance and work for the owners.
Thinking of selling? On top of being a Realtor I have taken extra courses to know how to represent you in the best possible way while marketing your condo in many ways. I will do a great job in your sale.
If you are looking for a home with less work then a condo might be for you. Below are some things to look for when buying a condo.
What is a condo? – A condo is another form of home ownership, where you as an owner have certain rights to your unit and is a member of the condo corporation that control the running of the building and common areas.
Condominium Documents (docs) – Condo docs are a set of papers you receive that outline the rules & regulations plus all the financial papers including budget and reserve fund.
Condominium Fees – The fees are your monthly contribution to the condo complex. A portion of your fees each month is applied to the reserve fund which is a savings account for maintenance needing done to the complexs common area.
Reserve Fund – The reserve fund is a savings account set up by the condo association to pay for upcoming maintenance to the buildings common area.
Parking – When you buy into a condo project one concern is parking. Parking is different in every building but consists of titled, leased or assigned.
Common Property – Common property is all property that is outside of the living residences. It is owned by the condo corporation and included on the condominium plan.
Other items to know about –
Pets, Special levies, condo plan, property manager; unit factors & utilities
Not every condo complex is the same,
While price is important VALUE is more important.
What is covered in your cost? What is covered in your condo fees?
Condos are a wonderful lifestyle; do not be nervous of the rules.
Most condos are well run by people just like you.