What To Know When Buying A Condo

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Related: Condo Fees: What You Need to Know Before You Buy a Condo #2 Condos Are Harder To Finance . If you’re buying your first investment property, you’re most likely going to take a loan to finance the purchase. If you’re interested in buying a condo for investment, one thing to.

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Investment such as buying a condo can offer a good return if done in the. This guide will help you in the process of owning a condo and know what you need to ask before making a big investment..

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Many condo buildings have what are known as "rental caps." This is a limit, set by the condo board or HOA, that restricts the number of condos that can be rented out (vs. owner occupied). As an investor, you’ll want to know for certain that the condo you’re purchasing can in fact be rented. HOAs have more power than you would think.

Buying Condos By Owner: Need to Know. Inspection of the unit should include both the traditional inspection of the physical condition plus a pest control inspection. Inspection of the common areas should include not only the building that includes your potential unit, but all buildings owned by the condo association: garages, club houses, pools,

Before you commit to owning a home, consider factors like maintenance fees and proximity to neighbors.

Chicago real estate agents share their advice for potential condo buyers.

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.

Buying First home: 5 reasons You Should Buy A Condo | INSIDE REAL ESTATE SHOW 043. if you’re a first time home buyer maybe your first home should be a condo. Buying a home?. to Know Before.

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Make sure you get a copy of the condo association’s insurance policy. Find out exactly what is covered, including the cost to bring the building up to code (if it’s an older building). Also make sure the estimates to rebuild are accurate, and not minimized or outdated. If the policy is confusing,