Are you considering purchasing a condo in Massachusetts? Do you want to find the best condo for your money? If this sounds like you, keep reading as the property experts at Sovereign Realty Advisors are going to share some important dos and don’ts to condo ownership in Massachusetts.
From finding the right condo for you, to ensuring that it will be a home that you will be proud to call your own, here are some dos and don’ts for condo ownership:
Dos for Condo Ownership
Consult A Real Estate Agent- before you even look at your first condo, consult with a professional real estate agent. Real estate agents know the industry better than anyone and can help you find exactly what you are looking for in a condo. From location and price, to features and amenities, purchasing the right condo can be made easier with a professional.
Do Your Research On The Property- always do your research before purchasing a condo. How old is the building? How often has the condo changed owners? What repairs have been made to the property? All these are important questions you should know the answers to. You may be able to request the property’s financial records as they will identify what reserves the building has set aside for improvements.
Research the Neighborhood- this is another important aspect of condo ownership. The condo itself might be perfect, but the neighborhood could be lacking some important features that you want. Be sure to check area schools, stores, condition of the homes around the condo as well as traffic and anything that could affect your decision.
Don’ts of Condo Ownership
Avoid Condo Developments with A High Rate of Renters- if the condo community you are considering has a higher than average rate of renters, this could devalue your property making it more difficult to sell later on. Renters do not typically have a vested interest in the property itself and this could affect the condition of the property over time.
Don’t Let Low Fees Affect Your Decision- just because a condo association is offering lows fees doesn’t mean it is a good buy. Condo fees are usually used to cover the costs of improvements to the property as well as the salary of a front-desk attendant or security personnel. A condo with low fees might not be able to provide the services you need.
If you are considering purchasing a condo in Massachusetts, contact Sovereign Realty Advisors and speak with a residential property expert today!
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