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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 SOUTHWICK
    Wilson Garden Condo
    1 review: *****
    127 Wilson Dr, Framingham, MA 01702
    (508) 620-2287 Write review for this local business

    "I am really very thankful to the condominium staff who are taking good care of the members. It is very neat and clean and the condos are very spacious too. Please write anything + or - about the management so others would also know and try to rectify it. ..."
    Oak Terrace Condominiums
    1 review: *****
    1321 Worcester Rd, Framingham, MA 01701
    (508) 879-5560 Write review for this local business

    "best real estate in Framingham, Mass. It is the best location in town., & a very well built complex. ..."
    Bishop Garden Condominiums
    1 review: *****
    Framingham, MA 01701
    (508) 872-6115 Write review for this local business

    "It is really a shame to the owners of Bishop Gardens Condominiums not to have enough parking for their guests and also for themselves if they have a second car. They dont have swimming pool too, but h ..."
    Halmar Inc Write review for this local business
    522 Salmon Brook St Ste A, Granby, CT 06035
    (860) 653-7283  
    Regency Condo Write review for this local business
    340 Regency Park Dr, Agawam, MA 01001
    (413) 789-3622  
    River Bend Condominium Write review for this local business
    555 Russell Rd, Westfield, MA 01085
    (413) 562-1033  
    Wentworth Estates Condominiums Write review for this local business
    1600 Memorial Ave, West Springfield, MA 01089
    (413) 732-5851  
    Lessard Property Management Services Inc Write review for this local business
    191 Chestnut St Ste 1A, Springfield, MA 01103
    (413) 734-3116  
    Kimball Towers Write review for this local business
    140 Chestnut St Ste 79, Springfield, MA 01103
    (413) 739-4551  
    Classical High Condo Write review for this local business
    235 State St, Springfield, MA 01103
    (413) 733-3030  
    Sumner Place At Forest Park Condominiums Write review for this local business
    34 Sumner Ave, Springfield, MA 01108
    (413) 734-4464  
    Georgetown Condominium Office Write review for this local business
    63 Yorktown Dr, Springfield, MA 01108
    (413) 737-3528  
    Kirby Condo Rental Write review for this local business
    90 Mckinstry Ave, Chicopee, MA 01013
    (413) 592-0933  
    Belden Forest Court Inc Write review for this local business
    40 Firetown Rd, Simsbury, CT 06070
    (860) 651-0438  
    Heritage Glen of Simsbury Write review for this local business
    11 Library Ln, Simsbury, CT 06070
    (860) 658-7837  
    Cherry Hill Condominium Write review for this local business
    1 Maple Crest Cir, Holyoke, MA 01040
    (413) 536-1094  
    Condo Holyoke C Write review for this local business
    45 Holyoke St, Holyoke, MA 01040
    (413) 533-9290  
    Fields At Chestnut Write review for this local business
    4 Broadleaf Cir, East Longmeadow, MA 01028
    (413) 224-1269  
    Ridgewood Village Condominium Write review for this local business
    124 Outer Dr, Chicopee, MA 01022
    (413) 593-6569  
    Doverbrook Condominium Trust Write review for this local business
    50 Doverbrook Rd, Chicopee, MA 01022
    (413) 593-5515  
    Toaks Condo Write review for this local business
    104 Johnson Rd, Chicopee, MA 01022
    (413) 593-1643  
    Pine Grove Condominiums Write review for this local business
    195 Pine Grove Dr, South Hadley, MA 01075
    (413) 533-5722  
    Hillcrest Park Condominiums Write review for this local business
    36 Hillcrest Park, South Hadley, MA 01075
    (413) 536-5868  
    Ridgewood Village Condominium Write review for this local business
    513 Newton St, South Hadley, MA 01075
    (413) 539-6800  

    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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