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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
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    Write review for this local business

    STANDARD LISTINGS:   CONDOMINIUMS-AND-TOWNHOUSES IN/NEAR ZEBULON
    Tamarack on the Lake Apartments
    1 review: *****
    3613 Pine Lake Dr, Fayetteville, NC 28311
    (877) 359-2059 Write review for this local business

    "Staff is a joke. They had a good manager and replaced her with a person more concerned with herself than the property. ..."
    Center Pointe
    1 review: *****
    408 N Eugene St, Greensboro, NC 27401
    (336) 458-0250 Write review for this local business

    "I am really happy that this building turned out the way it did. It's a catalyst for visitors to go downtown and it's truly a beauty! I have a great condo here and absolutely love the view. ..."
    McKinney Management Services
    1 review: *****
    304 W Fisher Ave, Greensboro, NC 27401
    (336) 370-9958 Write review for this local business

    "Worst I've ever seen...terrible management of property. This company has bankrupted more condominium Boards than I care to expound upon. ..."
    Perry Creek Condo Assoc Write review for this local business
    8620 Neuse Club Ln, Raleigh, NC 27616
    (919) 878-6598  
    Perry Creek Condo Association Write review for this local business
    8621 Neuse Club Ln, Raleigh, NC 27616
    (919) 872-7415  
    Govenor's Square Write review for this local business
    710 N Person St, Raleigh, NC 27604
    (919) 755-9097  
    Pines of Ashton Write review for this local business
    3105 Holston Ln, Raleigh, NC 27610
    (888) 517-3239  
    The Pointe At Amelia Village Condo Write review for this local business
    1601 Kenmore Dr, Clayton, NC 27520
    (919) 550-8382  
    Greenwood Townhomes Write review for this local business
    500 Greenwood Dr, Clayton, NC 27520
    (919) 553-2660  
    The Pointe At Amelia Village Condo Write review for this local business
    200 Sturbridge Dr, Clayton, NC 27520
    (919) 550-8724  
    The Pointe At Amelia Village Condo Write review for this local business
    100 Sturbridge Dr, Clayton, NC 27520
    (919) 550-6364  
    Chandler Place Condos Write review for this local business
    100 Northbrook Dr, Raleigh, NC 27609
    (919) 571-3430  
    Chandler Place Condos Write review for this local business
    116 Northbrook Dr, Raleigh, NC 27609
    (919) 571-1589  
    Chandler Place Condos Write review for this local business
    108 Northbrook Dr, Raleigh, NC 27609
    (919) 571-2675  
    Avondale Apartments Write review for this local business
    835 Navaho Dr, Raleigh, NC 27609
    (919) 876-4548  
    Condos Plaza Write review for this local business
    301 Fayetteville St, Raleigh, NC 27601
    (919) 278-7841  
    6 Forks Station Write review for this local business
    8501 New Brunswick Ln, Raleigh, NC 27615
    (919) 847-2000  
    Bryn Athyn at Six Forks Write review for this local business
    7303 Bryn Athyn Way, Raleigh, NC 27615
    (888) 504-0866  
    Falls River Condo's Write review for this local business
    1311 Durlain Dr, Raleigh, NC 27614
    (919) 847-6371  
    Brighthurst Hoa Write review for this local business
    1000 Brighthurst Dr, Raleigh, NC 27605
    (919) 832-1943  
    PCS Homes At Kingston Write review for this local business
    11731 Mezzanine Dr, Raleigh, NC 27614
    (919) 453-1401  
    Breezewood Condo Write review for this local business
    2120 Breezeway Dr, Raleigh, NC 27614
    (919) 847-1448  
    St. Mary's Square Write review for this local business
    600 Saint Marys St, Raleigh, NC 27605
    (919) 234-7775  
    Village Green Apartments Write review for this local business
    2000 Village Bluff Pl, Raleigh, NC 27603
    (855) 384-9993  

    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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