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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!
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    STANDARD LISTINGS:   CONDOMINIUMS-AND-TOWNHOUSES IN/NEAR SALISBURY
    St Paul At Chase Condominiums
    1 review: *****
    1101 Saint Paul St, Baltimore, MD 21202
    (410) 727-0330 Write review for this local business

    "I looked at several condos with my realtor today. Of all the places we saw, St. Paul at Chase was most affordable and offered the most as far as front desk all day and night, parking in the building, and units that are larger than anywhere else we looked. I work in DC and take the train. This bldg is only about three blocks from Penn Station, which I can walk to in five or ten minutes. Becaus ..."
    Webster House Condominium
    1 review: *****
    1718 P St NW, Washington, DC 20036
    (202) 387-7777 Write review for this local business

    "It seems to be a very badly built/managed building as you hear a lot of sounds from the pipes and neighbors but more importantly it seems to be infested by roaches and I often hear rodents gnawing in ..."
    Shipley's Grant Write review for this local business
    5780 Richards Valley Road, Ellicott City, MD 21043
    (443) 539-8138  
    Shipley's Grant is an elegant community of townhomes in Ellicott City. These two and three bedroom Townhomes have spacious interiors, elegant baths, and are in close proximity to fine dining.
    Riverside Medical Park Condo Write review for this local business
    560 Riverside Dr, Salisbury, MD 21801
    (410) 543-7632  
    Avalon Retirement Write review for this local business
    233 Troopers Way, Salisbury, MD 21804
    (410) 742-1137  
    Grandview Unit of Council Owners Write review for this local business
    1112 S Schumaker Dr, Salisbury, MD 21804
    (410) 219-3321  
    Avalon Retirement Write review for this local business
    200 Troopers Way, Salisbury, MD 21804
    (410) 546-0939  
    Mill Pond Village Apartments Write review for this local business
    303 Mill Pond Ln, Salisbury, MD 21804
    (800) 822-2452  
    The Meridian Condiminium Write review for this local business
    6014 S Point Rd, Berlin, MD 21811
    (410) 629-1133  
    The Towns At Innerlinks Condominium Assoc Write review for this local business
    111 Hingham Ln, Berlin, MD 21811
    (410) 208-5030  
    Ocean Atlantic Associates VII LLC Write review for this local business
    33585 Windswept Dr, Millsboro, DE 19966
    (302) 945-4186  
    Gull Point Home Owners Association Write review for this local business
    31036 Crepe Myrtle Dr, Millsboro, DE 19966
    (302) 947-1800  
    Windswept Condominium Associates Inc Write review for this local business
    33571 Windswept Dr, Millsboro, DE 19966
    (302) 947-1971  
    Condo Line Inc Write review for this local business
    11102 Charlie Dr, Bishopville, MD 21813
    (410) 352-5118  
    Chapel Crossing Write review for this local business
    29506 Phoenix Ave, Dagsboro, DE 19939
    (302) 732-3307  
    Arrington Woods Condos Write review for this local business
    36345 Leyland Ln, Selbyville, DE 19975
    (302) 436-4106  
    Beach House Oceanfront Condominiums Write review for this local business
    14200 Wight St, Ocean City, MD 21842
    (410) 250-1968  
    Rainbow Condominium Association Write review for this local business
    11200 Coastal Hwy, Ocean City, MD 21842
    (410) 723-1648  
    Holiday Real Estate Inc Write review for this local business
    7700 Coastal Hwy, Ocean City, MD 21842
    (410) 524-7700  
    Sea Watch Condominium Administration Write review for this local business
    11500 Coastal Hwy, Ocean City, MD 21842
    (410) 524-4003  
    Capri Condominiums-Counsel of Unit Owners Write review for this local business
    11000 Coastal Hwy, Ocean City, MD 21842
    (410) 524-1331  
    English Towers Condominium Write review for this local business
    10000 Coastal Hwy Ste 1, Ocean City, MD 21842
    (410) 524-4196  
    Golden Sands Retail Operations Write review for this local business
    10900 Coastal Hwy, Ocean City, MD 21842
    (410) 524-3942  
    Fountainhead Towers Write review for this local business
    11604 Coastal Hwy, Ocean City, MD 21842
    (410) 524-2378  

    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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