Page 1

5 Matters you should Check Upon While Buying a Condo “Condo” short for Condominium is referred to as an “Apartment building” or “Flats”. These apartments are ownership based, where people share the rights and responsibilities of common amenities such as building, yard, gym, clubhouse or any other common ground utility. 502 Madison condo is one such place where you can get various facilities along with trustworthy experts.

Here are some common set of key points that would help an individual to select the best Condo unit according to his requirements: Rules The condos are restricted to certain rules, depending on the social norms and resident’s collective convenience. A rule such as disallowance of pets, forbidding lights and music nuisance after a period of time, record keeping of regular visitors for security purpose are imposed upon the residents. The prospective buyer should be well aware of all the rules in order to avoid any inconvenience to him or the association thereafter. Additional fees The association levies Condo fees on its residents for the amenities provided by the society. These amenities include pool, gym facility, doormen keeping etc. which varies depending on the types of facilities provided. Thus, before contemplating the contract, the buyer should verify the facilities covered under the additional fees charged.


Insurance Policy cover Every Condo has a master policy which provides insurance to the exterior part of the building, leaving out the interior appliances upon the house owner’s risk. There are certain situations where internal household appliances can be insured under the master policy by way of additional premium. On acknowledging the terms of master policy one can decide what type of Condo unit insurance can be taken depending on individual’s risk factor. Reserve fund policy Every association keeps a certain amount of money as part of society funds, which can be used in situations of immediate actions. One should always check whether the association has adequate amount reserves to meet any contingencies. If the reserves are considerably low it could a pose a threat to residents in future, creating a hidden liability on the occurrence of any event. Research the neighborhood Knowing your surrounding helps the individual take better decision on selection of their condominium. The individual should check the facilities available depending on his and his family lifestyle. A person with kids might look for a school nearby. Other important factors such as hospitals, transportation facilities etc. should be kept in mind before finalizing the deal. One needs to be careful about all the matters mentioned above as well as other important factors that form a part of the individual’s concern. The motive is to get best possible satisfaction from the choice made by the consumer. 502 Madison makes its best efforts to provide facilities that suit the needs of their customers.

Company Name :- 502madison Address

:- 502-510 Madison St. Hoboken NJ 07030

Office call

:- (201) 963 6330

Fax

:- (201) 963 6331

Email

:- info@502madison.com

Website

:- http://502madison.com/

5 matters you should check upon while buying a condo  

Have You think to do investment in condo or purchase new condo, before purchase condo you need to check key point to buy the best condo. 502...

5 matters you should check upon while buying a condo  

Have You think to do investment in condo or purchase new condo, before purchase condo you need to check key point to buy the best condo. 502...

Advertisement