Looking At Condos For Sale: Ask Yourself These Questions Prior To Buying When it's time to move or own a home, many people choose to go the condo route for the many perks and less headaches. It is important to ask yourself some crucial questions in order to ensure that the condo you select is the right choice for you whether you want to transition from your single family home or an apartment into a condo. What Do the Complex's Minutes Look Like? The condo you're looking at should certainly provide you with the minutes from the association's board meetings. Before doing anything, you need to examine the reports on prior meetings. This document can provide you with insight pertaining to what some of the usual problems are like in the community and what people love about living there. If the condo association's minutes don't expose any issues, the minutes can also supply you with a better feel for what kind of upcoming projects the association is thinking about. What Is the Cost of the Repair Fund? The maintenance done around the complex is normally covered by a condo repair fund which means the dues that are paid to the association, paying for lawn and repair work needed. While moving into a community where the regular cost of contributing to the repair fund is low might be beneficial on a financial basis, this may end up hurting you in the long run. Be suspicious of complexes that boast that the repair fund cost is small as this could be a sign they don't keep up with maintenance. What's Covered Under the Association Policy? A copy of the association's policies and regulations needs to be obtained to begin with before considering buying any condo. Even if you don't do anything else while you're looking at condos for sale, this is the one thing you ought to make a priority. Should the condo you purchase ever incurs damage and needs to be fixed, this policy will help you understand what you will be accountable for. If you're having a difficult time wading through all of the insurance jargon, take the policy to an insurance professional you can trust to go over all the details. Do the Bylaws Make Sense? Condos regulate with a set of rules identified as bylaws. Have a look at what these bylaws cover and whether or not they align with the legal guidelines in your state. If there is anything at all in there that you do not particularly understand, take the community bylaws to your attorney to look at for you to see if they are acceptable. Is the Condo Renter-Friendly? In many cases, people buy condos in order to rent them out to others. If you intend to be renting
Looking At Condos For Sale: Ask Yourself These Questions Prior To Buying the condo out, be sure to look at the policies regarding that. Before you make the final decision to rent out your condo, remember that your condo association has the power to change the bylaws to restrict renters at any time. What Is Management Like? Some condo communities place the responsibility of management on the owners while others keep a management team on-site or in close proximity. If you're not planning to live in or close to the condo you purchase, you may want to select a community that keeps a management team on staff. If there is a management team, get to know them and the current residents to see what they think about the community before moving in. When out trying to find condos that are for sale, asking yourself these straightforward questions will increase the chances of buying a condo that'll be comfortable regarding the community. Contacting a skilled real estate agent is the simplest way to locate all the most outstanding Bethesda condos available. Take a peek at Bethesda Real Estate by visiting their web site which is http://www.bethesdarealestate.com/.
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Published on May 16, 2014
Contacting a skilled real estate agent is the simplest way to locate all the most outstanding Bethesda condos available. Take a peek at Beth...