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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.
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    STANDARD LISTINGS:   CONDOMINIUMS-AND-TOWNHOUSES IN/NEAR IRVINE
    Tustin Imperial Townhouses Ass
    1 review: *****
    1777 Mitchell Ave, Tustin, CA 92780
    (714) 544-1081 Write review for this local business

    "The security here is a joke. If you call them for anything, they never come. Parking here is supposed to be for stickers only. I have a permit sticker and still can't find parking anywhere. When you call security, they tell you they are coming and never show up. ..."
    Mesa Golf Carts
    1 review: *****
    1760 Monrovia Ave, Costa Mesa, CA 92627
    (949) 642-1300 Write review for this local business

    "poor quailty repairs and over priced needs exper. mechanic bad ..."
    Dylan Marshall Realty
    1 review: *****
    2502 W 117th St, Hawthorne, CA 90250
    (323) 376-9403 Write review for this local business

    "Dylan Marshall is a very hands on and detailed real estate broker that knows the real estate business ..."
    Condominium Management Company-Tustin Write review for this local business
    2492 Walnut Ave Ste 200, Tustin, CA 92780
    (714) 665-2900  
    Paloma Summit Condominium Rentals Write review for this local business
    26371 Paloma, Foothill Ranch, CA 92610
    (949) 484-9814  
    Astoria At Central Park West Write review for this local business
    401 Rockefeller, Irvine, CA 92612
    (949) 797-1524  
    Condos Etc Write review for this local business
    5067 Scholarship, Irvine, CA 92612
    (949) 887-6694  
    MacArthur Village Home Owners Assn Write review for this local business
    1000 W Macarthur Blvd, Santa Ana, CA 92707
    (714) 751-2956  
    Southcoast Terrace Condominium Write review for this local business
    1001 W Stevens Ave, Santa Ana, CA 92707
    (714) 966-1050  
    Foothill Busine Write review for this local business
    26469 Rancho Pkwy S, Lake Forest, CA 92630
    (949) 716-0531  
    Fletcher Woods Townhomes Write review for this local business
    725 W Fletcher Ave, Orange, CA 92865
    (714) 974-4800  
    Woodside Village Homeowners Associations Write review for this local business
    2511 W Sunflower Ave, Santa Ana, CA 92704
    (714) 641-1556  
    Stadium Lofts Cummunity Association Write review for this local business
    1801 E Katella Ave Ste 1007, Anaheim, CA 92805
    (714) 634-3663  
    Saddleback Business Park Write review for this local business
    26072 Merit Cir Ste 116, Laguna Hills, CA 92653
    (949) 328-6054  
    Vivere Condominiums Write review for this local business
    1331 E Katella Ave, Anaheim, CA 92805
    (714) 978-9700  
    Keller Williams Realty Write review for this local business
    27101 Puerta Real Ste 150, Mission Viejo, CA 92691
    (949) 463-7523  
    Laguna Shores Management Write review for this local business
    26131 Marguerite Pkwy Ste D, Mission Viejo, CA 92692
    (949) 367-1923  
    Mallorca Condo Write review for this local business
    22565 Formentor, Mission Viejo, CA 92692
    (949) 768-1199  
    Channel Reef Community Association Write review for this local business
    2525 Ocean Blvd # OFC, Corona Del Mar, CA 92625
    (949) 673-1788  
    Alize at Aliso Viejo Apartment Homes Write review for this local business
    2 Enterprise, Aliso Viejo, CA 92656
    (949) 328-7633  
    Fullerton Business Center Write review for this local business
    2478 Fender Ave Ste A, Fullerton, CA 92831
    (714) 459-5301  
    Alicante Apartment Homes Write review for this local business
    27662 Aliso Creek Rd, Aliso Viejo, CA 92656
    (949) 234-7378  
    Madison Newport Write review for this local business
    2345 Newport Blvd, Costa Mesa, CA 92627
    (949) 791-9437  
    Vista Del Lido Write review for this local business
    611 Lido Park Dr, Newport Beach, CA 92663
    (949) 675-6244  

    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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