10 Questions You Must Ask Before Buying a Condo

Buying a condo is not the same as buying a house. You are not only buying a condo unit but also the condo complex as a whole. This is why there are many important factors to consider, and it’s very important to know exactly what questions to ask to uncover the answers. We put together the 10 most important questions to ask before buying a condo to help you find the one that’s right for you.

1. What is the Condo Fee & What Does it Cover?

2. What are the Condo Rules & Regulations?

3. How Much Money is in the Reserve Account and How Much is Funded Annually?

4. Are There Any Pending Special Assessments?

5. Who Manages the Condo Complex?

6. Is the Condo Association Involved in Any Pending Legal Actions?

7. How Many Condo Units are Owner Occupied?

8. How Many Condo Units are Delinquent on Paying Their Condo Fee?

9. Do Condo Unit Owners Have Exclusive Easements or Right to Use Certain Common Areas?

10. What does the Condominium Complex’s Master Insurance Policy cover?

For over 30 years the Prime Property Team and Ron Carpenito of Keller Williams Realty Andover have been helping home buyers and sellers in Andover, North Andover, Haverhill, and the Merrimack Valley with their real estate goals. If you’re thinking of buying or selling a home anywhere in Massachusetts or know someone who is, contact Ron today at (978)494-0346.