Moreover, since the condo is yours, you can replace anything you find outdated or purchase whatever is missing. Consider doing your own research on the companys reputation, as well find out what other projects they manage, and talk to board members to see if they are satisfied with the companys services. HOA rules may limit what you can do both inside and outside your home, like whether you can have pets and when you . Inspect HVAC systems (interior and exterior if both exist). More Staff = higher Maintenance Fee. Youre buying access to these amenities when you buy your unit, so dont be shy about putting them on your wish list. Besides, since units belong to different individuals, a complex may be populated by diverse personalities, ranging from noisy neighbors to nosey people. Condos that were built after 2005 were required to comply to a new Building Code that requires the installation of Hurricane Impact Windows. 1. ), Which type of Flooring do you prefer? (Tile, Marble, Carpet, Limestone, etc. This can help you get a better sense of what itd be like to live there. Mortgage options in Florida. Corner units and those with unobstructed waterfront views arepopular and have great resale value (a fact to consider if youre planning to sell the Unit in the future). There are various factors that you must consider when starting your Condo search. For instance, if you love swimming and barbequing, include a pool and barbeque pit on your wish list. A well-run association can usually avoid special assessments, except in extraordinary cases. How to Sell a House Without a Realtor in Florida - Real Estate Witch In addition to your mortgage payments, youll need to pay condo association fees for the upkeep of the property and its amenities. . Once again, working with a professional is a great idea. Some might be barebones offerings that simply cover snow removal and other maintenance in the common areas, while others include a gym, outdoor grills and other luxury-level perks. Condo associations can differ based on the requirements of the individual property. Pay attention to how they respond even when you first make contact; this can be an indicator of how much support you can expect to receive if a problem crops up. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Many listing agents, also known as seller's agent, have contracts with their clients with variable commissions. 5 Signs It's Time to Move into a Condo in Florida. Bankrates editorial team writes on behalf of YOU the reader. If you own multiple cars, living in a condo where the rules don't allow you to park more than one vehicle at a time can be challenging. Privacy Policy | Intellectual Property Rights | Sitemap | Real Estate Website Design & Internet Marketing by Agent Image. Living in a building with several other people has its perks and its risks. Its also a good idea to ask about the communitys house rules. Keep in mind, too, that even amenities you dont plan to use a pool, for example might still be worth having, because they can increase your resale value. Whether you're upgrading your quality of life, downsizing to avoid maintenance, or moving closer to the city, you want to find somewhere that meets your immediate and long-term needs. Answer some questions to get offerswith no impact to your credit score. For instance, an inground pool can cost anywhere from $28,000 to $55,000 in the United States, depending on shape, size, and materials. An experienced agent will be able to address any concerns you might have and guide you through crucial steps, like reviewing the condo association documents. This Operating Budget will include estimates regarding all common expenses that are to be shared amongst the owners. It is also a good idea to ask for a copy of the last set of minutes from the board meeting.
