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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
    The leader in providing education and resources to the volunteer homeowners who govern community associations and the professionals who support them. Get valuable resources by joining our association today!
    MAP
    Write review for this local business

    STANDARD LISTINGS:   CONDOMINIUMS-AND-TOWNHOUSES IN/NEAR LEEDS
    Lakewood Commons Condominiums
    1 review: *****
    144 E University Dr, Auburn, AL 36832
    (334) 826-7500 Write review for this local business

    "Well kept grounds, walk to Kroger, pool, Lake-with fish and you can launch a small boat, washer/dryer, good parking, Tiger Trans. stops here first at 2 stops. Quiet place to live and be able to study. Some Condos have 1 bedrooms so you don't have to have a roomate. Most Condos allow pets. ..."
    Bay Pointe Condominiums
    1 review: *****
    6122 Bay Village Dr, Athens, AL 35611
    (256) 729-1572 Write review for this local business

    "As nice as the location is, if anyone is considering purchasing ensure you review the HOA fee collections and where the funds are being utilized. Several areas of concern identified on a visit 14 Sep ..."
    Brookhill Condominium Owners A Write review for this local business
    2350 Montevallo Rd Ofc 1100, Birmingham, AL 35223
    (205) 871-4204  
    Horizon Condominium Association Write review for this local business
    1 Morning Sun Dr, Birmingham, AL 35242
    (205) 995-7592  
    Cross Creek Park Condominium Write review for this local business
    4301 Wilderness Rd, Birmingham, AL 35213
    (205) 871-2549  
    Inverness Cliffs Write review for this local business
    100 Inverness Clfs, Birmingham, AL 35242
    (205) 538-2877  
    Lakeview Condos Write review for this local business
    700 34th St S, Birmingham, AL 35222
    (205) 226-0007  
    Highland Plaza Association Inc Write review for this local business
    2250 Highland Ave S, Birmingham, AL 35205
    (205) 933-7876  
    Condos The Capri Write review for this local business
    1300 27th Pl S, Birmingham, AL 35205
    (205) 994-3721  
    2600 Highland Assn Write review for this local business
    2600 Highland Ave S, Birmingham, AL 35205
    (205) 201-6759  
    Arlington Crest Write review for this local business
    2600 Arlington Ave S, Birmingham, AL 35205
    (205) 933-7394  
    Park Tower Condominiums Write review for this local business
    2717 Highland Ave S, Birmingham, AL 35205
    (205) 322-2865  
    Montreat Condominiums Homeowners Associations Write review for this local business
    2205 Montreat Cir, Birmingham, AL 35216
    (205) 822-0487  
    The Avenues AC Write review for this local business
    2316 1st Ave N, Birmingham, AL 35203
    (205) 714-3006  
    Regency Terrace Condominiums Write review for this local business
    1120 Beacon Pkwy E, Birmingham, AL 35209
    (205) 879-5812  
    The Abbey at Boulder Ridge Write review for this local business
    114 Aspen Cir, Birmingham, AL 35209
    (205) 683-6615  
    The Abbey at Regent's Walk Write review for this local business
    726 Raleigh Ct, Birmingham, AL 35209
    (205) 390-0280  
    The Abbey at Vestavia Falls Write review for this local business
    2927 Columbiana Ct, Birmingham, AL 35216
    (205) 433-9567  
    The Abbey at Lakeshore Write review for this local business
    1301 Lakeshore Pl, Birmingham, AL 35209
    (205) 267-6734  
    The Abbey at Wisteria Crest Write review for this local business
    2250 Little Valley Rd, Birmingham, AL 35216
    (205) 683-6194  
    The Abbey at Stone Ridge Write review for this local business
    700 Aspen Dr, Birmingham, AL 35209
    (205) 683-6196  
    The Abbey at Riverchase Apartment Homes Write review for this local business
    3708 Lodge Dr, Birmingham, AL 35216
    (205) 208-0323  
    Broadway Park Condominiums LLC Write review for this local business
    1040 Broadway St, Birmingham, AL 35209
    (205) 945-2073  
    Valley View Condo Write review for this local business
    1741 Valley Ave, Birmingham, AL 35209
    (205) 918-2002  

    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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