Condo Buying Tip List

• Number of units in complex?
• Percentage of owner-occupants?
• Percentage of unsold units?
• Monthly homeowner association dues?

• What do dues cover?
• How often have dues been increased?
• Any anticipated increase in dues?
• How many homeowners are delinquent in paying dues?

• Is there a fee for transferring association membership?
• What does homeowner's association insurance cover?
• Will you need additional insurance coverage?
• Is homeowner association professionally managed?
• Amount in the association reserve account?
• Any large expenses anticipated?

• Is homeowner association professionally managed?
• Amount in the association reserve account?
• Any large expenses anticipated?
• Is the association involved in litigation (status and likely resolution)?
• Are pets allowed?
• Can you rent your unit out?
• Are there restrictions that’ll cramp your style?
• How many parking spaces are included?
• How many storage spaces are included?
• What common facilities are included?
• What do current owners like best about the complex? (Interview current owners).
• What do current owners like least about the complex?
• How is the soundproofing?
• How are water pressure, heating systems, etc.?
• Does the developer have a good reputation?
• Are sales prices going up or down?
• How active are sales?
• Attend homeowner’s association meeting.
• Review covenants, conditions, and restrictions.

• Review bylaws and articles of incorporation, or have an attorney review them.