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Questions To Ask When Buying a Condo
Perhaps you start to consider buying a condo in a building close to your office. Or since you are just a small family, you don’t need that extra space right now so you think that a condo is enough for you.
No matter what your reason is, you really need to be nitpicky when buying a Oregon City House condo unit. Some condos are even more expensive than the regular single-family house so you really need to guard your investment. Here some questions that you need to ask the salesperson before buying a condo unit:
1. What are the most common complaints from the residents?
For many reasons, the condo management will hide some problems to you. The best way to know the answer to this question is to ask the occupants. If you heard a lot of complaints that are not being addressed immediately by the association, you might want to look somewhere else.
2. How is the condo being managed?
Interview the manager on your first visit. Ask him how he runs the operation of the condo 24/7. Understand how and to whom he delegates the tasks. During your interview, you can sense how proactive the manager is in dealing with the occupant’s concerns. Sometimes, a Canby homes condo building doesn’t have a manager and the occupant’s practice self-management. They designate a person that will run a home owner’s association office which you can talk to learn more about the building operation.
3. Is there storage available?
Some condos offer their resident more space where they can keep their things. Any small extra spaces where you can keep your bicycle or your motorcycle can be a lot of help.
4. What does your insurance cover?
Make sure that you know what concerns are covered by the association’s insurance policy. If the insurance is confusing, it is advisable if you will get a copy of it and consult a lawyer about it. Important factors that the insurance must not miss are the roof leaks and fire incidents.
5. How long will you stay in the condo?
One downside of buying a condo is that it takes a while before its price appreciates to the extent that you will earn a profit once you decide to sell it. If you will move before five years and decide to sell it, its value might not be enough to give you ROI. You cannot really tell what the future will bring so you really need to make sure that you want to stay in your condo unit long before you decide to buy.