3 Features To Fully Evaluate Before Buying A Condo
Condos are very common and popular today for people of all ages, and they often offer benefits that you cannot find with regular single-family homes. If you would like to buy a condo and have not yet started looking for one, here are three important features you should thoroughly evaluate before you choose one to buy.
The Cost of the HOA Fee
The absolute first feature to find out about a condo is whether or not it is part of a homeowner's association (HOA). In most cases, condos are part of an HOA, and this means that you will have to pay a monthly fee to the HOA. The HOA is an organization that manages and controls the homes in the neighborhood, and the monthly fees are typically at least a couple hundred dollars per month. In really high-end neighborhoods, the fees can be a lot more than this, though.
Knowing this amount is important, though, because it will be a monthly expense you will have to pay if you choose to buy a condo.
What the HOA Fee Covers
Secondly, you should evaluate what the HOA fees cover. When you pay the fee each month, what is it for? To find this out, you may need to read over the HOA documents or talk to someone that manages the HOA. In most cases, the HOA fees cover all yard work, garbage pick-up, snow removal, and costs for maintaining all the common areas in the community. What the fees cover can vary, and it is important to find out as much as you can about the HOA before buying a condo there.
The Amenities Offered
The other important feature you should fully evaluate before buying a condo is the amenities offered in the community. When there is an HOA in a community, there are usually amenities that are offered there. This can include a swimming pool for the residents to use. Some communities offer parks or walking trails, and there are even communities that offer golf courses. Every community is different, and you should take a tour of the entire neighborhood before you decide whether to buy the condo you are looking at or not.
These are three of the most important features to fully evaluate before looking for condos for sale. If you have questions about condos or would like to buy one, contact a real estate agent in your city today.