Condos are becoming very popular in our area, particularly with first time home owners and with retirees who want to downsize. Condo owners own and have title to their specific condo and have a percentage interest in the building as a whole. Assessment or association fees are collected from each unit owner on a monthly basis to pay for the maintenance and insurance of the exterior of the building and any other amenities on the property (such as parking, pools, recreation areas, etc).

The community covenants of each condo building outlines all the details of what the association does. It is important to read that document before you buy!

Here is a list of things to look for & questions to ask:

1. What are the monthly fees and when are they due?
2. What is done to collect delinquent payments?
3. What does the payment cover (ex/ garbage, cable, window washing)?
4. What does the payment NOT cover? (This would mean that YOU are responsible for these things.)
5. Does the association have a reserve fund to cover large repairs such as a new roof?
6. Where can you park?
7. Can you have pets? If so, is there a limit?
8. Is there an age limit? If there is, can your grandchildren come and stay with you? For how long?
9. Can you rent out your unit?
10. Do you have to have specific window coverings? (And other uniformity issues)
11. Can you operate a business out of your home?
12. Look at the minutes of the last association meeting and look at the budget.

Besides these specific questions, it’s a good idea to walk around the building and the common areas. Talk to current residents about what they do and do not like.

With a condo, you are not only buying a home - you are buying a community. Make sure that it is one you like and want to be a part of.