One of the more essential questions to ask when buying a condo is how much money is contained in the reserve fund. Finding out what’s in reserve is important because it establishes the financial health of the association. You want to know if the association has budgeted enough money if an unforeseen expense arises.

If you are a 4th grader considering buying a condo, or a senile 95 year old looking for a vacation condo, this book is for you. Otherwise, look elsewhere.

If you are considering purchasing an investment property, be certain that the condo association will allow you to rent out the condo unit on a short-term or long-term basis, before you buy.

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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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Buying a condo is not a small purchase, you have to make sure that you choose the right property so your money will not go to a waste.

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Buying a condo is no small affair. There are many important aspects to consider that you don't have to worry about with single family homes. This is why it's.

Cons of Condo Living. And, that money is paid by you. When you buy a condo, you essentially become a business partner in that community. You pay a monthly fee each month (on top of your mortgage) which goes towards the upkeep of the property, as well as future investments (e.g. a playground addition or dog run).

Before buying a condo, consider these things Buying a condo can be a good idea for many reasons, whether you want to own property for yourself or you just want to make an investment.

Looking to purchase your first condo? Congratulations! This is an incredibly exciting time in your life, but also a time when important decision-making and key investigating is both necessary and encouraged. Here are a few things to consider before buying a condo.