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Each condo complex will have their own rules and restrictions. You should be well aware of those before you buy a condo and find you can’t live with their rules. What to Know About Buying a Condo. In addition to a condo’s rules, you should also be aware of the condo association’s budget.
You know the drill: They’ll give you a bunch of coupons if you give them an hour to pitch you on owning a portion of a condo.
We took that money as a credit toward closing costs so we could keep as much cash as possible to use for reserves. here in.
No matter how much you love kicking back in your condo, there might come a point when you want to move on-which means you may need to know the ins and outs of how to sell a condo.No, it’s not.
A massive apartment, condo and hotel project in the Rainey Street area is moving. adding they had previously focused too.
How Much Should Condo Associations Have in Reserves? This is a question that is asked frequently by condo association board members and homeowners. There is really no scientific formula that is applicable to address this question.
· What Price Condo Can You Afford on Your Income? Before you step foot in an open house, you need to know how much condo you can afford. For example, if you make $50,000/year, you cannot afford a $300,000 condo, unless you have a secret trust fund.
· The questions to ask when buying a condo found below are something every buyer should consider when purchasing this type of housing. I would be willing to bet that many of these questions are nothing that many buyers would have ever thought to ask. Purchasing a condominium is much more complicated than buying a house.
One good estimation is to assume $40,000 in personal property for the first 1,000 square feet of your condo and then add $5,000 for each additional 500 square feet. figure out what level of liability insurance you need. If your assets are more than $500,000, you may want to look into an umbrella policy.