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Considering A Condo For Home Ownership? What To Know

If you know that you want to buy a condo and you're looking for a property that will suit your needs, you want to know what you are getting for the money. By asking the right questions before you purchase the property you can find out some information about what it will be like to live there. When you sit down with the manager or property listing agent for the condo association, take the time to ask them about the following things.

What are the HOA Fees and What's Included?

What do you have to pay each month to be an owner in that property development? What comes with that cost? You should expect that your lawn care and snow removal be covered, along with the parking lot and driveway maintenance throughout the property. Ask for a full list of what type of amenities you will have, such as a pool, gym or other options.

How are Potential Neighbors Screened?

You'll want to know what kind of other condo owners you'll be living by in the area before you buy the condo. Ask the condo association if they do both credit checks and background checks on the applicants or potential buyers, and if they have any sex offenders in the area. This helps you get to know what type of people buy in that area.

 Can the Units be Rented?

If someone purchases a unit and doesn't want to live there anymore, can they rent it out to other people and sub-lease their property? Can the condos be rented out to people that are vacationing in the area for the week? If the condo is going to be your part-time or permanent home, you want to make sure people aren't going to be coming in and out next you to.

You also want to know if there are restrictions on what you can do to the condo. If you are hoping to add a concrete patio, a pergola or other items in the back of it, are you allowed to do that? There will be rules and guidelines that you have follow, so make sure you know what they are in advance. If you're looking to purchase a condo and you want it to be a living space where you can put down your roots, make sure that you ask all the important questions that will affect how you live. Check out websites like citycreekliving.com for more information on living in a condo.