What to know when buying a condo.

As a real estate agent and – for the past couple years, a resident of a condominium, I have learned a lot about condo living and how to decide it it’s right for others. Here are a few questions that you will want to ask me when we’re shopping for your dream condo home!

1. What am I responsible for paying in association fees – are those fees monthly, yearly condo fees and services do I get for them?
Do they take out the trash and mow the lawn?

2. What the the rules of the neighborhood – what CAN’T you do? Can I have my Great Dane there?

3. How much is in the association coffers? Do they spend my association fees or keep plenty in reserve?

4. Are there any planned assessments on the table? Re-paving, re-roofing, renovations to the clubhouse – there are a million ways to keep a condo neighborhood up to date.

5. Who manages the neighborhood? Is your association made of up neighbors or a company? There are advantages to each.

6. What is going on in the neighborhood? Potlucks, lawsuits, neighbor squabbles, garage sales – talk to some neighbors, they’ll let you know.

7. Are the residents owners or renters? Who am I going to live with?

8. What percentage of the community pay their fees? Are there delinquencies?

9. When I buy, what do I own? Can I have rockers on the porch and put in a small garden in the back yard, can I put on a deck?

10. Association insurance – do they have enough, what does it cover? If there is a freak hailstorm will they replace my roof or does my personal insurance have to cover it?

These questions were inspired by a blog I read recently on theconsumerist.com – if you are interested in finding a great condo in Farragut click here, if you’re looking for any type of home including condos come to My Real Estate Website.

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About knoxvillerob

I love Knoxville - inside it's housing is where I'm usually found, after all I'm a Realtor and a Landlord. I love to shoot things and people with my camera and I probably like ya.
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