Are you thinking about buying a condo? If you are currently searching for one or just thinking about purchasing one in the future, there are many questions to ask regarding condos. Since they are different than a house, there are different things you needs to consider. For example, if a condo will be your year-round home, will it have enough storage for all of your things? However, here in the Lakes Area, if you’d like a second home, a condo may be the way to go. Your snow removal and yard maintenance is done for you, and utilities may be cheaper. Below are more questions to consider when you are looking for a condo!
– How much outdoor space is there?
If you choose a condo, you might not have much of a yard. If you love to grow a garden, will there be space for that? If you have a pet that needs a lot of space to run around, is there room for that?
– Are there amenities with the condo and will they be used?
Many times a condo offers a swimming pool/hot tub, a fitness center, a community room, etc. These features may cost more if you don’t live in a condo setting. If you love to workout or go swimming, having these features in your condo may prove to be a great deal for you.
-Who will maintain the property?
If you live in a condo, many times the manager of the property will hire somebody to maintain the property and take care of damages. This creates less work for you and more time to do the things you enjoy.
– Are there association fees, and how much are they?
Many condos require you to pay fees, which will help pay for amenities and any future repairs. Keep in mind, if the property needs improvement and you aren’t in favor of the improvement, you still have to pay the fees.
If you want more information on this topic, visit Questions to Ask When Considering a Condo from REALTOR® Magazine, the Official Magazine of the National Association of REALTORS®. This handout explains each question more in-depth, and it features other questions to ask that are not mentioned above.
REALTOR® Magazine. Questions to ask when considering a condo. NATIONAL ASSOCIATION of REALTORS® Official Magazine. Retrieved from http://realtormag.realtor.org/sales-and-marketing/handouts-for-customers/for-buyers/questions-ask-when-considering-condo
Image retrieved from Realtor.com