Things to look out for when renting or buying a condo?

November 24th, 2009 | by admin |

What are some negative signs and potential red-flags to watch out for when looking for a space to rent or buy? This is for personal. I’m not a realestate agent.

I’m looking for a QUIET neighborhood, no kids, not alot of animals. No loud cars and music. Nice and roomy space, no bugs and criters or a home thats coming apart. Good heating in the winter and very moisturerized. I cannot have a dry home that screws with my allergies. A superintentant who takes care of repairs when asked to etc.

Make certain the condo complex is at least 51% occupied by owners. If there are too many renters, the value and marketability may decrease over time, whereas owners have a vested interest in keeping their unit and neighborhood nice.

Get with a realtor and with a lender. The realtor can give you tips on the area’s improvement or decline over the last few years, and help you find the right place. The lender will make sure you are asking the right questions so you can get a loan for the property.

  1. 4 Responses to “Things to look out for when renting or buying a condo?”

  2. By George on Nov 24, 2009 | Reply

    a bad sign is a crack house next door
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  3. By Reapor-ted! on Nov 24, 2009 | Reply

    nearly every condo has condo fees. watch for these. sometimes they can charge you for the dumbest sh*it and get away with it. other than that it’s just like renting an apt. just look around and see if the hood is good and you’ll be alright
    References :

  4. By dmckinner on Nov 24, 2009 | Reply

    Hire a real estate agent to work for you. As the buyer, it wont cost you anyhow. They should be able to help you thru all aspects. Ask to see the ccr’s which is the convenants, conditions, and restrictions, this will tell you whats allowed and what is not. Then ask your agent or title company for copies of at least the last 3 months meeting minutes. This will let you know what has been discussed at the homeonwners association meetings and if there is any planned repairs, etc…
    References :

  5. By pseudo on Nov 24, 2009 | Reply

    Make certain the condo complex is at least 51% occupied by owners. If there are too many renters, the value and marketability may decrease over time, whereas owners have a vested interest in keeping their unit and neighborhood nice.

    Get with a realtor and with a lender. The realtor can give you tips on the area’s improvement or decline over the last few years, and help you find the right place. The lender will make sure you are asking the right questions so you can get a loan for the property.
    References :

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