How to Buy a Condominium

Tips for buying a condominium

1. Almost all condos are part of a condominium development, many of which function as their own little self-contained universe. Inspect the development you're looking to purchase a condo in. Do you like the size of it? Is the property nicely maintained? Talk to people already living in the development about their experiences inhabiting the space. Learn what amenities are close to the development (grocery stores, dry cleaners, restaurants, movie theaters, etc).
2. Very carefully consider the condo dues. Map out your budget and yearly income to see if you will be able to afford the cost of the condo. You should also closely inspect the rules of the homeowner's association that governs the functions of the condo development. Many have restrictions that might not gel with your lifestyle. Pay especially close attention to rules regarding pets if you have pets or are planning on buying pets.
3. Always request to see the homeowner's association's bookkeeping statements. This is important to do because you'll be able to gauge whether or not the association can pay for damages that might occur within your condo. You should also talk with a representative of the association about any damages the condo you're interested in has sustained in the past.
4. You should also learn what is-and more importantly-what isn't-covered in the homeowner's association's insurance policy.
5. Closely inspect every nook and cranny of the condo you're considering purchasing. Check the water pressure in the shower, make sure the pilots on the stove work properly, and be absolutely sure there's enough closet space for your belongings. Bring someone along with you (friend, family member) to get a second opinion on the space before making your final decision.

Caution

If there are many condos for sale within the development, be wary. This could mean that living conditions aren't all they're cracked up to be, and that overall satisfaction with the condos and outlying property is low (which is why it's so important that you talk with other condo owners in the development).

Where to buy a condominium

Check out the Web sites below for info on where and how to go about buying condos-

ezCondoFinder.com allows you to buy, sell, or buy AND sell condominiums. You will get matched up with a real estate agent by simply filling out info on where you want to buy a condo and what you want in your condo.

Find homes for sale nationwide at House Real Estate. Use the map of the United States to find property in a particular area, including condos, homes, apartments and more.

CondoBuzz is a national network for condos, lofts and townhomes is Here you'll find tools to help you locate condos and real estate agents in different parts of the country, plus condo valuation info and condo FAQs.