7 Things To Look For When Buying A Condo

Condominiums or simply condos are single sold property within a communal living complex. They provide you with a stable and amenity-filled living space for a quite affordable amount.

Preferring to buy a condo rather than a single-family house or apartment comes with questions like whether it is the right choice for you or is it convenient enough, and if it has all you need to live comfortably.

Frankly, a condo should have certain basic options to make your stay enjoyable and as such, below are seven things to look out for when buying a condo.

Check for The Present Issues

Buying a condo should come with comfort and you wouldn’t want to live in a community that is filled with issues. Find out the crime rate in the community, the available social amenities, or if your basic needs can be met within the community. Also, communicate with condo owners in the community and find out how the association is being run and if there are any issues with the management of the association.

Take A Look at The Budget

This is quite important for you to know as some condo owners miss this at the initial stage and later run into problems with the condo association. Ask the agent in charge of a copy of the association’s budget and look through to understand their budget. Find out the total amount owed by the association, if at all they are in debt, to know what you are getting into and also, the amount you will be required to pay recurrently.

The Condo’s Insurance Status

Buying your dream condo should always come with an insurance to avoid future challenges. A lot of condo buyers fall into the category of people that neglect insurance policy and never addressed it before paying for the condo, and later on, run into insurance problems. Some condos associations use a flexible policy to cut down cost, and this could make your investment vulnerable. To avoid this, ask for a copy of the building’s insurance policy and let your insurance agent take a look to see if the insurance coverage is enough to secure your property.

The Status of the Cash Reserve

Before making your payment, finding out the status of the cash reserve is a wise thing to do. Since it is required that condo owners should always set aside 10% of their annual revenue for unforeseen emergency or for capital expenditures, there is definitely a cash reserve and it will be beneficial to know the present status. If the cash reserve for the condo’s association is quite low, there are chances that the owners might run into issues with the special assessment force.

Know Your Responsibilities

Owning a condo inevitably comes with a shared responsibility as this is one of the reasons why some people opt for a condo. Though some condo associations are responsible for some minor issues in the condo, it will be advisable to enquire about what your responsibilities are. This will give you a head start to prevent any future complications. Meanwhile, condo associations do take care of repairs of ceilings, roofs, windows, doors, and plumbing issues in most cases.

Look for A Storage Space

If you are a sports lover and want to buy a condo, finding out where to keep your bikes, winter skis, four-wheelers, and even your extra luggage is important. Some condominiums offer an extra storage space to keep your belongings. You should make inquiries about this before you pay for the condo.

The Rules

To be able to have a smooth stay in a community, you should know the rules guiding the community. Some condo owners will want to bring a pet along, it will be advisable to know if this is allowed. Flower lovers might want to make a bed of flowers, also find out if it is allowed. Ask for a compilation of the rules guiding the community and go through it before you make your decision.


Knowing the above-mentioned tips should help you make a well-informed decision when buying a condo. If you are from Los Angeles, you can check out condo for sale in Los Angeles. If you are more especially from the Santa Monica region of Los Angeles, you can find the best deal at condo for sale Santa Monica. Buying a complete house can be too expensive in a place like Los Angeles and a luxury condo unit can be an affordable yet perfect choice for you.

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