Someone I know is moving to another state and is selling her condo. I am also interested for a condo myself in the same area. How can I decide if this is a good deal for me? What all information should I request for and what steps should I follow? I don't want to miss a good offer if it is!!
2006-09-14 03:23:45 · 2 answers · asked by rebecca 1 in Home & Garden ➔ Other - Home & Garden
I know.. from experience. that is a tough decision particularly in these times when the housing market is flat.. in most areas. I just bought one last year noted as an investment but I plan to eventually move into the condo...
What to look for:
-As time goes on, security will become ever so important with so many deranged people around, etc so get a sense if the condo location is a good one for or with security in mind.
-HOA fees.. very important because the HOA organization can become like NAZI Germany's gestapo
-Look at condo equivalents in the area.. what are the prices of this one over that one, etc and what does one have that the other condo does not.
-Garage: Does the condo have a garage or not. I know mine that I bought, I had to buy the garage separately as there may be 240 units in the whole compound but only 150 garages and the rest have to be covered parking
-If you are buying it for an investment(during these times) I woud think twice but if, like me, you bought it as a future residence, then that is different
-Does the condo have sufficient upgrades to satisfy you.. and if NOT.... Are makling upgrades allowable... considering the HOA business
2006-09-14 03:31:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Have the condo inspected and first find out if you qualify for the mortgage payments by seeing your banker.
2006-09-14 10:29:23 · answer #2 · answered by The ReDesign Diva 7 · 0⤊ 0⤋