Wednesday, January 27, 2010

Smart Questions to Ask Before Purchasing a Condo

Many homeowners acquisition the address affairs to be awful rewarding, and a acute investment. But there's some analysis to be done afore a astute acquirement is made. Here's a absolute account of questions to ask, at atomic accede afore you go advanced and acquirement a condo.

What is the age of the building?

Is the architecture air-conditioned?

What array of aegis arrangement is in place? Is it 24 hrs?

Is there a parking amplitude included in the acquirement price? (ask to see it!)

Is there bedfellow parking, and if so what are the altitude of use?

Is the use of recreational accessories included in the acquirement price, or account fees? Acquisition out the agreement of use for these accessories - are they carefully for the use of owners and their guests, or are they accessible to the accessible in any way?

Look into your unit's accurate situation. See if it's anchored abreast an elevator or debris chute. You ability additional assumption a acquirement if you apperceive you don't wish to reside with that array of intrusion.

What accessories and appearance are included in the acquirement price?

Are pets allowed, and if so what kinds and sizes of animals are acceptable and how abounding per unit?

Are there rental or charter restrictions on the unit?

Is the bedfellow citizenry over 10%? This may be awkward if you're searching for a a abode to alarm home. A top rental citizenry has its own set of problems.

What sorts of renovations are permitted, if any?

What is the account aliment fee, and what does this fee include?

To what admeasurement does the address association's allowance awning you? The allowance should be able to awning the amount of rebuilding the condo, if charge be.

How abundant advantage is in the association's adjustment fund? The adjustment armamentarium should be able to awning at atomic 10% of the amount of items that charge replacing or repair.

Has the address affiliation had any acknowledged issues? Go over the association's bylaws with a absolute acreage advocate and bifold analysis that their bylaws are constant with accompaniment bylaws in which you're purchasing.

Read over the address association's minutes, so as to get a absolute faculty of the humans on the board, and what array of gripes and complaints accept been lodged so far.

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