What To Know About Buying A Condo

t’s important to know that when you purchase a condo, you’ll be sharing the responsibility of upkeep with the homeowners association. Usually, this is what draws people to condos, since important things like repairs and upgrades to your condo’s exterior are taken care of by the association.

Investing in real estate can seem like an overwhelming venture. Real Estate Broker Pierre Carapetian gives us his expert advice on seven things you need to know before buying a condo.. Photo.

We all know how important it is to save for retirement. And yes, if you’ve been living in a smaller condo or townhouse, it.

Arlington VA real estate agent and Realtor Matt Leighton talks about 5 mistakes people are making when buying a condo. Subscribe for more real estate videos.

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The process for getting a condo approved is more involved. Condo associations may not be willing to go through the process, which means you would not be able to use VA financing. It is important to know if you are buying a non-warrantable condo. You may hear your real estate agent or lender refer to a condominium you are buying as non-warrantable.

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When Marsh Williams and his wife, Carol, of Columbus, Ohio, wanted to buy a low-maintenance home in 2013, they knew a condominium would let them travel without fretting about forgoing necessary yard.

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More and more Canadians in expensive markets like Toronto and Vancouver are opting out of traditional homeownership and choosing instead to purchase condominiums in order to buy and still live in the.

There’s definitely an appeal to buying a condo that comes with amenities like a swimming pool or tennis courts. You won’t have to manage the upkeep of those amenities yourself, nor care for the lawn or garden. Condos also come with a great built-in opportunity for a resident’s social life.

How Much Downpayment Do I Need For A House My Mortgage Is Too High  · Challenge the Tax Assessment. As a result, the lender collects your property taxes each month to protect its interest in your home. This payment sits in escrow until the yearly property tax bill is due. Property tax is based on the county’s tax assessment of how much your home and land is worth. Many of these assessments are too high,”We never lived together until we bought a house together,” says Jack. Which is good, because sometimes you do something.

If you have never bought a condominium, you may be surprised at all of the different issues to consider. Buying a condo is not the same as buying a house. Not only could you have adjoining walls.