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Questions to Ask about Condominiums

If you're looking into condominium sales in hopes of moving into one, you're probably aware already that this is a potentially life-changing decision. It's an important next step for many who decide they no longer wish to rent an apartment or lease their housing. Before you buy that attractive waterfront condo for sale, there are some vital questions you need to ask before you sign the dotted line.

  • How much money is in the reserve fund?
    The reserve fund is the money kept available for repairs and maintenance. As a general rule, the older the building, the more money should be in the fund. If the fund gets too low, you may face rising monthly fees.

  • What regular fees are assessed?
    Condos usually collect a monthly fee, called an assessment, from each unit to help with general upkeep. These can vary substantially, so make sure they will not pose a burden on you. But low fees can also cause problems because a luxury waterfront condo can fall into disrepair if there are no funds to maintain it.

  • Is the condo association run by the owners or an outside management company?
    Many condominiums are managed by the unit owners themselves. Others hire outsiders experienced in real estate management. Self-managed condos often have relatively low monthly fees, but they can run into problems when neighbors can't agree on housing regulations. If the condo is run by a professional management company, you should check their credentials.

  • What restrictions are in place?
    Because you will be sharing common elements, such as pools and laundry rooms, you need to check the rules and regulations governing these. Like apartment buildings, you may face restrictions on parking privileges and pet ownership, among other things. You may not be allowed to rent or lease your unit to others when and how you wish.
  • Community Associations Institute
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    MAP
    Write review for this local business

    STANDARD LISTINGS:   CONDOMINIUMS-AND-TOWNHOUSES IN/NEAR ALBANY
    Windham Ridge Homeowners Assoc Write review for this local business
    1230 Central Ave, Albany, NY 12205
    (518) 734-3919  
    Turning Point Condominiums Write review for this local business
    423 New Karner Rd, Albany, NY 12205
    (518) 464-9054  
    Vly Pointe Condominiums Write review for this local business
    702 Vly Point Dr, Schenectady, NY 12309
    (518) 785-5313  
    Vly Pointe Condominiums Write review for this local business
    802 Vly Point Dr, Schenectady, NY 12309
    (518) 785-0508  
    Bentley Condominiums Write review for this local business
    8 Wall St, Clifton Park, NY 12065
    (518) 688-0081  
    Crowne Point Condominiums Write review for this local business
    804 Royale Ct, Troy, NY 12180
    (518) 326-5555  
    Brandle Meadows Write review for this local business
    1001 Kelly Cir, Altamont, NY 12009
    (518) 861-3300  
    Franklin Square Condominiums LLC Write review for this local business
    57 Railroad Pl, Saratoga Springs, NY 12866
    (518) 226-0171  
    Franklin Square Condominiums Write review for this local business
    87 Railroad Pl, Saratoga Springs, NY 12866
    (518) 226-4869  
    38 High Rock Condos Write review for this local business
    38 High Rock Ave, Saratoga Springs, NY 12866
    (518) 581-1500  
    Park Place Condominiums Write review for this local business
    87 Railroad Pl, Saratoga Springs, NY 12866
    (518) 226-4505  
    433 North Condominium Trust Write review for this local business
    433 North St, Pittsfield, MA 01201
    (413) 443-2157  
    433 North Condominium Trust Write review for this local business
    443 North St, Pittsfield, MA 01201
    (413) 443-2157  
    A Condo Connection Write review for this local business
    11 Park Dr, Pittsfield, MA 01201
    (413) 298-4023  
    South Pond Farm Condo Trust Pool Area Write review for this local business
    1136 Barker Rd, Pittsfield, MA 01201
    (413) 445-5043  
    Donat's Brow Write review for this local business
    125 Donats Brow Ln, Cobleskill, NY 12043
    (518) 234-3971  
    Morgan Manor Condominiums Write review for this local business
    1 Morgan Mnr, Lenox, MA 01240
    (413) 637-3539  
    Berkshire Homes and Condos Write review for this local business
    30 Church St, Lenox, MA 01240
    (413) 637-5080  
    AIM Services Inc Write review for this local business
    572 Gansevoort Rd, South Glens Falls, NY 12803
    (518) 743-0729  
    Canfield Properties LLC Write review for this local business
    93 Maple St, Glens Falls, NY 12801
    (518) 761-3034  
    Hunter Mountain All Services & Accomodations Write review for this local business
    8355 Main St, Hunter, NY 12442
    (518) 263-4737  
    The Village At October Mountain Assoc Write review for this local business
    880 East St, Lee, MA 01238
    (413) 243-4214  
    Stonegate Condo Trust Write review for this local business
    111 West Ave, Great Barrington, MA 01230
    (413) 528-9554  
    Gardens At Rhinebeck Write review for this local business
    72 Astor Dr, Rhinebeck, NY 12572
    (845) 876-8081  

    Condominiums are a great alternative to renting an apartment or townhouse because you will be the sole owner of the condo. Condominiums are basically apartments for sale or sometimes lease to own. Condominiums can have multiple bedrooms, be in high rise buildings downtown, and often times come with laundry facilities either in the condo itself or on the property. Newer luxury or contemporary condominiums sometimes come fully furnished and almost all of them have full kitchens.

    Condos often offer 24 hour security services for their residence so people can feel safe while they are at home or on vacation. Real estate agents play a very important role in condos for sale which is often different from when people lease property. Real estate agents will put listings online, in papers, and sometimes even magazines that appear in hotel lobbies. New condos are also featured in home magazines to show kitchen or bedroom styles and can also be featured in architecture magazines to debut new high rise designs.

    People who want to sell, do inspections, or appraisals on condominiums often need to be licensed by the state or county they work in and sometimes you need a realtor's license to sell a condo depending on the state you live in. Inspections and appraisals are often required or at least highly encouraged when buying a condo.

    Condominiums offer individuals and consumers various options for living and investing. They are a good alternative to renting or leasing because a person will own the property instead of paying monthly rent payments.



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