Is a condo right for you? - Page 2 of 2

Is a condo right for you?

meetings is a good idea as well, so you’ll know what kind of problems have been discussed. And get a copy of the association’s financial statements to find out how much of your dues are put toward maintenance of the complex. “You need to know if [the homeowner’s association is] in debt or surviving above water,” stresses McDaniel. “You are at the mercy of the [real estate] association for the exterior of your property.”

Lastly, Davis says two- and three-bedroom condos resell better than one-bedroom condos. And he advises that you pay attention to the residential turnover in your complex because “the value of your unit can go down if other people start to sell. That can dictate the selling price for other units in that complex.”