A condo is a great purchase for many people who want to own a home, but don’t want the hassles, upkeep and maintenance that go along with owning a single-family home. When shopping for an Adkins condo, it is important, because they are quite different from a single-family home, to consider a number of things:
- HOA Fees – When purchasing a condo, you will likely pay HOA (homeowners association) fees. These fees, which are usually paid on a monthly or quarterly basis, are fees paid for maintaining and updating the property in which the condo is located and for amenities and services offered by the building. HOA fees may cover everything from landscaping and building repair to the cost of hiring security, valet staff or pool cleaners. When purchasing a condo, ask to see the history of HOA fees so you can determine how often they are raised.
- Location – Most condo homebuyers choose condos because of their urban location. In fact, you will find that most condo buildings are either located close to the city or near public transportation or a major roadway to help individuals get in and out of the city. Therefore, it is important to consider the location of the condo and the distance from locations most important to you, such as your work, the grocery store or your children’s school.
- Privacy – One of the downsides of purchasing a condo is the lack of privacy. However, today’s condos are often built and designed with privacy in mind, so pay close attention to the location of the condo and the noise you can hear when inside the home. In addition, it may also be a good idea to ask neighbors if they experience any noise problems.
- Amenities/Features – Sometimes the best part of living in a condo are the amenities and services that come along with it. Although you will certainly pay more in HOA fees according to the amenities and services offered, many condo owners are more than willing to pay the price for these key features, which may include: a swimming pool; valet parking; courier services; business centers; and party rooms, just to name a few.