Do You Really Want to Buy a Condo?

Do You Really Want to Buy a Condo?

Greater Cincinnati Condo LivingCondo living appeals to all age levels, incomes and lifestyles throughout the greater Cincinnati real estate market.

A home of your own with having to worry about cleaning gutters, cutting grass or anything else outside your front (and back) door. And according to the Multiple Listing Service of Greater Cincinnati buyers have approximately 1282 condos to view ranging in price from $2000. all the way to $3,300,000.

And also according to the MLS, the condo listings are available in just about every area:

Cincinnati Condos for Sale

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The first thing just about every potential condo buyer asks about is “how much are the condo fees”?. Often when they hear a high dollar amount- they move on to the next listing. That may be a huge mistake. Condo fees combined with sound fiscal planning is what potential condo owners should be concerned about. If you’re serious about buying a condo-ask to see the Association’s financials. You want to see a good size “reserve fund” to handle updating, roads, maintenance and so on. If the reserves are minimal- you may be facing special assessments to handle future issues.

If you buy- please have a “whole house inspection” – as an owner you’re still responsible for the interior of the unit. And finally many complexes restrict or prohibit rentals. If the plan is to live in the unit for a few years then use it as rental income- make sure you’re allowed to use as rental property

Remember most purchase contracts include clauses requiring the seller to provide a copy of the “condo docs” which the buyer has a few days to review. Honestly most buyers just glance at them- I strongly suggest you take the time to read the document and question items you don’t understand.

Ready to start house hunting or market your property now-Click here to to Call: 513-300-4090,by email .