Consider amenities (pool, gym) versus costs, location, and parking.
Look for a healthy reserve fund (a good rule of thumb is at least 25% of gross income in reserve) to avoid future special assessments.
Calculate what you can afford, including mortgage, taxes, insurance, and monthly HOA fees. how to buy a condo
Contact a lender for pre-approval, which strengthens your offer and clarifies your price range.
High owner-occupancy (rather than renters) usually indicates better maintained property and makes financing easier. Consider amenities (pool, gym) versus costs, location, and
This document provides a snapshot of the unit's legal and financial standing. 5. Make an Offer and Negotiate
Hire a real estate agent with specific experience in condominium sales. They will understand how to evaluate condo documents and check for specific community pitfalls. 3. Identify and Research Communities Contact a lender for pre-approval, which strengthens your
Review the Covenants, Conditions, and Restrictions (CC&Rs) for pet restrictions, renting rules, and parking restrictions. 4. Review Condo Documentation (Crucial Step) Before finalizing the purchase, you must review: