Condo Lifestyle

1. Condo HOA Fees

A few important questions to ask before purchasing a condo are about the Home Owners Association Fees.  How much are they and what do they cover?  Generally, insurance for the outside of the building and surrounding property is covered as well as amenities such as lawn care, snow removal, pest control and outdoor maintenance of the building are usually covered.

2. Are Water And Sewer Included?

One of the benefits of living in a condo is the fact that these types of city services are usually covered.  Water, sewer, and trash removal are usually included in the HOA fees.  However, this is an important question to ask because in the rare case that it isn’t covered you’ll want to be sure to factor that into your budget.

3. What Is The Condo Management Fee?

Management fees generally cover maintenance of the outside of the property.  It

is important to find out how much the fee is and also some background information about the company that is handling the maintenance.  You’ll want to be sure that it’s someone you trust in order to protect your investment in the community.

4. Cable And Internet Included?

If cable and internet are an important part of your daily life you’ll want to be sure that you ask about what is available in the condo you are considering.  Some of the questions you’ll need to ask include: Are basic cable and internet included?  Is it something you’ll need to purchase yourself?  Is Wi-Fi available or will you have to set that up as well?  Most condos are equipped with basic cable and internet, which can be very convenient when considering a condo as opposed to a freestanding home.

5.  Easier To Maintain Than A House?

When it comes to maintenance, one of the benefits of purchasing a condo is the limited amount of maintenance that will be required of you. No more worrying about unexpected emergencies or expensive repairs.  Due to HOA and management fees you can rest assured that if something breaks or if the roof begins to leak it will be covered by these fees.

6. Easier To Maintain Than A Yard?

Another benefit of condo living is that you will have no need to maintain a yard.  No more mowing and weeding and landscaping to worry about.  You will also have numerous amenities that you may not be able to find in a single-family home.  These might include a pool, a gym, and tennis courts all of which are maintained by the property.  Also the landscaping around the building will be manicured and beautiful without you having to lift a finger.

7. Condos: Turnkey = Worry Free!

If do-it-yourself renovations are not your style then condos are an excellent choice.   Generally condos are available without the need for any renovations or updates.  There is no need to worry about things such as an outdated kitchen or bathroom.  Simply find a condo that is up to your specifications and then move in!

8. Condo Insurance

Finally, if you do decide to take the plunge, be sure to research the best type of  individual unit insurance to protect the interior of the condo including your personal belongings. While HOA fees usually cover insurance for the outside of the building you will still be responsible for the insurance on the inside of your unit. This is usually a requirement for purchasing a condo and it’s an important part of protecting your investment.  If there is a leak from the condo above you, which damages anything in your unit, it is important that you have coverage.

Owning a condo can be a great investment as long as you do your homework and are prepared for any extra expenses that can accompany the condo lifestyle.