Purchasing a condo can be a wise decision, especially if you do not want to handle exterior maintenance on your own. Being a part of a condo community means that you will share common areas with other owners, which can be more helpful then you realize.
If you are ready to live the condo life you might want to take a look at our tips below. You can learn everything that you need to know about purchasing a condo.
Rules and regulations
Before you choose a condo you need to understand the rules of the community. Each community comes with its own regulations. For example, certain combo communities don’t accept pets. If you are a pet owner, you need to make sure that you can bring your pet to your condo.
Additionally, some associations have rules related to quiet hours. These can be really helpful if you want to avoid bad neighbors, but some people don’t enjoy strict regulations.
When you are buying a condo you need to know what it includes. For example, if you want special amenities such as pools, tennis courts or fitness centers you need to find a condo community that offers them, such as luxury condos Denver.
On the other hand, if you don’t need these additional amenities, you shouldn’t choose a condo community that has them, because you will pay for them even if you do not use them.
Each condo community has its own association fees. It is very important that you find out how much you have to pay for these fees, since you need to be sure that you can afford it. High fees can be hard to pay, but you need a community that has enough funds.
You should also know what the association fees include. For example, they can cover landscaping, trash pickup, road maintenance, water or snow removal. Your association fees should pay for all the services that you need.
Who maintains the property?
You need to do a little bit of research when it comes to maintenance. You should know which companies are in charges when it comes to the maintenance of the property. For example, do you know who handles cleaning? In some communities the residents are the ones who clean the common areas, while in other communities an outside company is hired.
You should also find out whether your condo community has a management company. This type of company handles day-to-day operations. For example, the management company is the one that answers the residents’ questions and requests and enforces the rules and regulations of the association. When you are buying a condo you will discuss with the management company first.