Buying a condominium can be an expensive endeavor if you do not investigate the hidden costs. This week we offer 6 tips on buying a condominium that may help you avoid the pitfalls.
6 Tips for Buying a Condominium
- First look carefully at the pros and cons of a condominium purchase.
- Second, condominium ownership comes with special assessments. For example, there are extra charges that an owner is asked to pay for significant projects that must be undertaken.
- Third, review the fees and regulations of the association.
- Fourth, investigate the property management.
- Fifth, look at the amenities it has and consider how those line up with what you really want. For instance, some condos offer pools or golf courses that you may never use. The landscape may be beautiful but how important are the other amenities.
- Find a condo that is FHA-Approved!
Finding a realtor who has Condominium experience
Finding a realtor with experience in condominiums is top priority when looking to buy one. According to bank-rate: “When working with your realtor, address the amenities you want in addition to factors like location and budget. You are buying access to these amenities when you buy your unit. So don’t be shy about putting them on your wish list.”
Furthermore, an amenity such as a pool might help the resale value of your home. We will be discussing in length just how important a pool can or should be to the value of a home in a future blog.
The Dias Team
Joe Dias III: Realtor with the experience you need to buy a condo
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- 626 Smithfield Road, Unit #908, North Providence, RI 02904 PENDING
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- Staircase Interior Condominium on 626 Smithfield Road, North Providence, RI 02904
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- Loft View Condo 626 Smithfield Road, Unit #908, North Providence, RI 02904
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- Bedroom Window Condo 626 Smithfield Road, Unit #908, North Providence, RI 02904
As mentioned in a previous blog, this beautiful condominium is now PENDING! Contact us today if you need a realtor with experience to help you find the condominium of your dreams.