Harrison condominiums & townhouses

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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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    Write review for this local business

    Condominium Management Service
    1 review: *****
    PO Box 4264, Trenton, NJ 08610
    (609) 599-3311 Write review for this local business

    "I was VERY disappointed with the professionalism of this company. I thought that being in business for so many years, there would have been more to appreciate. Their service is terrible--their staff, unqualified and unresponsive to your needs. They were bought out by another company and that hasn't made their service better--only more customer unfriendly. FIND ANOTHER MANAGEMENT COMPANY IF YOU ..."
    Bakers Bay Condominium II Maintenance Ofc
    1 review: *****
    5100 Convent Ln, Philadelphia, PA 19114
    (215) 632-5718 Write review for this local business

    "Wonderful maintenance, beautiful setting, great neighbors. ..."
    Kings Croft Condominium Association
    1 review: *****
    137 Kings Croft, Cherry Hill, NJ 08034
    (856) 482-2605 Write review for this local business

    "really nice community with a lot of benefits. benefits include water, snow plow, grass mowing, excellent maintenance ..."
    Hermo Court Condo Assoc Write review for this local business
    54 Polk St, Newark, NJ 07105
    (973) 465-9167  
    Waldo Lofts Condo Assocation Write review for this local business
    111 Mulberry St, Newark, NJ 07102
    (973) 622-7500  
    Highland Heights Condo Assoc Write review for this local business
    140 Highland Ave, Kearny, NJ 07032
    (201) 997-2572  
    Executive House Write review for this local business
    175 Prospect Street, East Orange, NJ 07017
    (973) 672-6636  
    Zion Towers Write review for this local business
    515 Elizabeth Ave # OFC, Newark, NJ 07112
    (973) 705-3117  
    Schuyler Manor Condo's Write review for this local business
    43 Schuyler Ave, North Arlington, NJ 07031
    (201) 991-1929  
    Bridgebrooke Condominiums Write review for this local business
    725 Joralemon St, Belleville, NJ 07109
    (973) 751-2445  
    Hilltop Condo Association Write review for this local business
    21 Barnett Ln, Belleville, NJ 07109
    (973) 759-5991  
    Austin Villa Condo Assoc Write review for this local business
    30 Austin St, Newark, NJ 07114
    (973) 353-0183  
    T M Gardens Condo Assoc Write review for this local business
    619 Schuyler Ave, Lyndhurst, NJ 07071
    (201) 438-4254  
    60 Condominiums Write review for this local business
    60 Parkway Dr E, East Orange, NJ 07017
    (973) 675-2555  
    Forty One Condo Write review for this local business
    41 Oak St, East Orange, NJ 07018
    (973) 676-5674  
    19 Lyons Towers Condominium Association Inc Write review for this local business
    19 Lyons Ave, Newark, NJ 07112
    (973) 923-4232  
    Summit Condominium Associates Write review for this local business
    2787 John F Kennedy Blvd Ste C, Jersey City, NJ 07306
    (201) 656-7305  
    Saint Johns Condominiums Write review for this local business
    201 Saint Pauls Ave, Jersey City, NJ 07306
    (201) 798-3330  
    The Auburn Condominiums Write review for this local business
    418 Martin Luther King Jr Dr, Jersey City, NJ 07304
    (201) 434-7226  
    574 Commercial Write review for this local business
    574 Summit Ave, Jersey City, NJ 07306
    (201) 659-6563  
    Gothic Towers Condominiums Write review for this local business
    50 Glenwood Ave, Jersey City, NJ 07306
    (201) 435-1025  
    Walnut Village Condo Association Write review for this local business
    186 Walnut St Ste 1, Bloomfield, NJ 07003
    (973) 748-1258  
    Hudson Point Condominiums Write review for this local business
    108 Waldo Ave, Jersey City, NJ 07306
    (201) 222-5793  
    2600 Association Write review for this local business
    2600 John F Kennedy Blvd, Jersey City, NJ 07306
    (201) 451-2711  

    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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