Lisa Westerman's Blog
1 Village Road, Paxton, MA 01612
A condo can be a great resource in expanding your property search for a home. Condos allow the same benefits of traditional single family home ownership with slightly less hassle. If you have been juggling the idea of buying a condo versus a traditional home, you may be in luck. The first thing you should worry about is whether or not your needs will actually be met by condo living. Do you want a big yard? Are you comfortable having neighbors super close by? Most importantly, you need to make an informed decision that will help you to find the kind of property that’s right for you.
If you want a secure space and living that provides you with easy upkeep, a condo is really a great option. Condos provide many advantages that people may have not even thought of until now.
Condo living has different perks than that of traditional homes. Your condominium complex can include things like a swimming pool, a clubhouse, community events, tennis courts, fitness centers, and more. You won’t get all of these little extras living in a single family home. It can be a great environment for both single people and families alike.
Condos often offer either a gated community or security staff on the premises. These features allow you to feel a lot more secure in your home environment. Security will keep rowdy kids from roaming the property and only allow owners and their visitors. This feature alone may be worth it for many home buyers when shopping for a place to live.
If you’re the type of person who doesn’t enjoy yard work and is not a DIYer, condo living could be for you. Included with your condo fees is the ability to have different things in and around your home taken care of. Although the fees include different extras from place to place, Living in a condo is definitely less work as far as home care goes than a traditional house.
Although condos do include additional fees, the price point of most condos is much lower than that of a traditional home. If you are just starting out, a condo is a great way to ease into homeownership without needing to save up an exorbitant amount of money for a downpayment.
While condo living has many different advantages, they do carry some disadvantages for people. These include:
- HOA Fees
- Lack of privacy
- A difficult sell if you want to move
- You live under management rules
These points can be deal breakers for some buyers. While many relish their freedom from maintenance responsibility, others just want to do as they please with their yard without needing approval. A condo could be a great choice for you in your own situation, you just need to step back and look at the pros and cons.
Believe it or not, buying a condo can be a quick, easy process, particularly for those who understand their homebuying needs.
Ultimately, there are several factors to consider before you purchase a condo, including:
1. Your Budget
How much can you afford to spend on a condo? You should evaluate your homebuying budget closely to ensure you can cover all of the costs associated with condo living.
Getting pre-approved for a mortgage usually is ideal. With a mortgage in hand, you can browse a wide range of condos and find one that matches your budget perfectly.
Furthermore, don't forget to account for homeowners' association (HOA) fees before you buy a condo. HOA fees will vary depending on the condo community, and you should learn about them in advance so you can budget accordingly.
2. Property Size and Location
How much space do you need to accommodate your family? Consider the short- and long-term ramifications of a condo purchase, and you should have no trouble finding a condo that is the right size for you.
If you're uncertain about how big of a condo that you'll need, don't hesitate to consult with a real estate agent. This housing market expert will learn about your homebuying needs and help you narrow your search for the ideal condo.
Also, be sure to consider the location of a condo. If you want to find a place to live near school or work, you should search for condos that will help you cut down on your commute time.
3. Condo Rules and Regulations
Condo living is different from living in a traditional house. In a condo community, you'll have your own property, but there may be numerous condo rules and regulations in place that you'll need to follow at all times.
For example, many condo owners cannot modify a property's exterior without first getting approval from an HOA board. This means if you want to paint your condo bright pink or upgrade the property's windows, you'll need to ask the HOA board for permission.
Examine a condo community's rules and regulations prior to purchasing a condo. This will enable you to review the HOA board's mandates and determine whether you would feel comfortable following these rules and regulations.
When it comes to finding a condo, there is no need to look for a property on your own. Conversely, if you work with a real estate agent, you can take the guesswork out of searching for a top-notch condo.
Finding a real estate agent with condo experience is essential. This real estate professional will set up condo showings, keep you informed about new condos as they become available and negotiate with property sellers on your behalf. That way, this real estate agent will make it easy for you to acquire a first-rate condo at a budget-friendly price.
Kick off your search for the perfect condo today, and you can move closer to securing a condo that will serve you well for an extended period of time.
This Condo in Chelsea, MA recently sold for $320,000.
This is a Brownstone style home and features 3 total rooms, 1 full bath, 1 bedroom, and was sold by
Lisa Westerman - RE/MAX Prof Associates
This Condo in Berlin, MA recently sold for $378,000.
This is a Townhouse style home and features 5 total rooms, 3 full baths, 1 half bath, 2 bedrooms, and was sold by
Lisa Westerman - RE/MAX Prof Associates