Do Your Homework – As the Condo Turns…

Today I’ll touch on the more serious side of things…
It’s all fun and games until somebody buys the wrong condo!

Tip of the day – Do your homework

1. Like what you see: Can you picture yourself there? Does it “feel” like home? Do you like the view from the windows? What can you hear? If something bugs you now, it will drive you nuts down the road. 

2. Read the rules: Check out pet restrictions to make sure your beloved little Snuffles, doesn’t have to go to a “nice family out in the country” before you move in. 

3. Look before you leap: Take your time and compare, to get the best bang for your condo buck. Remember, your real estate agent wants to make his commission and go home. You have to live there and pay condo fees, forever and ever and ever…

4. Assume nothing: Ask to see the Status Certificate. Find out how they spend their money. This is probably the most important element of your decision, and the one most of us ignore out of unfamiliarity or simple trust.

5. Check under the hood:  Just because everything looks good on the outside, doesn’t mean the innards of the building are in good working order. When was the last reserve fund study done? Are there any special assessments planned? The roof on a condo building doesn’t come cheap.

Until tomorrow…these are the days of our lives.