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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 SOUTHAMPTON
    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. ..."
    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 ..."
    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 ..."
    Smallow Management Co Write review for this local business
    403 Lakeside Park, Southampton, PA 18966
    (215) 322-5700  
    Warminster Heights Homeowners Assoc Inc Write review for this local business
    75 Downey Dr, Warminster, PA 18974
    (215) 672-0610  
    Centennial Station Condos Write review for this local business
    1000 Centennial Sta, Warminster, PA 18974
    (215) 443-5361  
    Carousel Station Condominiums Write review for this local business
    301 Byberry Rd Ste A, Philadelphia, PA 19116
    (215) 464-5588  
    Stonebridge Condominiums Write review for this local business
    300 Byberry Rd, Philadelphia, PA 19116
    (215) 464-5183  
    Franklin Condo Write review for this local business
    720 Johnsville Blvd, Warminster, PA 18974
    (215) 675-1716  
    Heritage Creek Condo Assoc Write review for this local business
    3104 Knox Ct, Warminster, PA 18974
    (215) 682-7319  
    Huntingdon Place Condo Association Write review for this local business
    200 Carson Ter, Huntingdon Valley, PA 19006
    (215) 947-8696  
    Cenntennial Station Condo Write review for this local business
    2000 Centennial Sta, Warminster, PA 18974
    (215) 328-9764  
    Meadowood Condominium Associates Write review for this local business
    1575 W Street Rd Apt 210, Warminster, PA 18974
    (215) 443-7201  
    Warminster 456 Group LLC Write review for this local business
    553 York Rd, Warminster, PA 18974
    (215) 672-3845  
    Yardley Commons Condominium Associations Write review for this local business
    300 Main St, Langhorne, PA 19047
    (215) 493-0365  
    Excelsior Condominium Association Write review for this local business
    2131 Welsh Rd, Philadelphia, PA 19115
    (215) 698-1862  
    Imperial Manor II Condominium Association Write review for this local business
    8940 Krewstown Rd, Philadelphia, PA 19115
    (215) 676-9902  
    Terraces At Welsh Walk Write review for this local business
    2015 Welsh Rd, Philadelphia, PA 19115
    (215) 464-6149  
    Regency One Condominium Write review for this local business
    9945 Norwalk Rd, Philadelphia, PA 19115
    (215) 969-4194  
    Pathways Condominiums Write review for this local business
    9921 Bustleton Ave, Philadelphia, PA 19115
    (215) 677-3022  
    Doral Condo Write review for this local business
    9908 Bustleton Ave, Philadelphia, PA 19115
    (215) 969-9004  
    Ambassador Condominium Association Write review for this local business
    805 Red Lion Rd, Philadelphia, PA 19115
    (215) 698-9410  
    Fountain Pointe of Philadelphia Office Write review for this local business
    9200 Blue Grass Rd, Philadelphia, PA 19114
    (215) 676-5330  
    2628 Condominium Write review for this local business
    2628 Welsh Rd, Philadelphia, PA 19152
    (215) 676-3574  

    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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