3 Factors to Consider Before You Buy a Condo

by Jackie Davis 08/05/2017

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.

About the Author
Author

Jackie Davis

Welcome to Jackie Davis and Company. If you have navigated this far, we thank you and would like to share how we differ from other teams and agents. We work tirelessly and are committed to providing 100% customer satisfaction. We recognize, listen, value, and appreciate your goals as you move towards listing or selling your home. As Listing Agents we continuously integrate new and advanced technology to promote your biggest asset. Our strong negotiation skills are invaluable for getting you the best price for your home. As the Buyer's Agent we pride ourselves on being fully educated in our local markets. While focusing on integrity and honesty we will provide you with the highest level of professionalism and analysis. We are proud that this hard work has earned us recognition as top 1% both company and state wide in the industry. Achievements * 1st Quarter 2017 Leading Sales in Fairfield * 2017 February Leading Sales Team * 2017 March Leading Sales Team * Chairman's Elite representing the Top 1% Agent at William Raveis Nationwide & Fairfield County * Over $45 million Listed & Sold in 2016 * Over $30 million Listed & Sold in 2015 * 99% List to Sales Ratio (higher than market average) * 75 Average Days on Market (less than market average) * Jackie Davis Promoted to Sales Vice President 2016 * Raveis Award of Excellence every year * Exceptional Customer Service Award every year * Top Units Sold Team October 2016 * Top Customer Service October 2016 * Top Mortgage Support September 2016 * Top Selling Team January 2016 * Top Mortgage Support August 2015 * Top Selling Team Feb 2014 * Top Producing Team Jan 2014 * Top Selling Team Dec 2013 * Top Selling Team Nov 2013 * Top Producing Team Nov 2013 Professional Specialty Innovative Marketing and Technology equals proven sales. Our team of licensed professionals is ready to serve. We handle: Sellers & Buyers Exceptional Properties Investors Waterfront & Beach Area Homes Country & Equestrian Properties New Construction & Land Relocation Professional Association National Association of Realtors Connecticut Association of Realtors Greater Fairfield Board of Realtors Consolidated Multiple Listing Service Community Involvement PTA committee member for past 14 years from elementary through high school PTA Board Member for 4 years Shoff Darby Advisory Scholarship Board member past 5 years Committee member for Cancer Care of Norwalk past 10 years Volunteer Habitat for Humanity Operation Hope coordinator for elementary and middle schools, last 3 years Volunteer for a variety of town sports teams, that my daughters participate in The County Assemblies Board Member The b-Cause Foundation Board Member- a non-profit organization whose mission is to educate children to recognize neighbors in need in our local community. Wakeman Boys & Girls Club- Fundraising Committee Member Committee Member for Cancer Couch Fundraiser the Cancer Beat 2016 Near and Far Aid Volunteer Education BA from Merrimack College Personal Fairfield resident for 39 years Currently reside in Fairfield Beach Area Married 27 years Four daughters currently in & have graduated Fairfield Public School system Areas Covered Fairfield Southport Westport Weston Norwalk Trumbull Easton Stratford Shelton Milford Stamford Bridgeport