Answer: A condo is an appealing way to enter the housing market if the cost of a single-family home is out of your reach. Condos are especially popular among single homebuyers, empty nesters, and first-time buyers in high-priced housing markets. Unlike a house, condos offer a lifestyle that is free of yard work and exterior maintenance and repairs. Many condominium communities also offer amenities such as exercise rooms, tennis courts, and swimming pools that you might otherwise be unable to afford if you purchased a single-family home.

One of the most enticing reasons to buy a condominium rather than a single-family residence is that it provides a simpler, low-maintenance life style. If this is your goal, make sure that you'll actually be getting what you bargained for. Don't assume that your homeowner dues will take care of all exterior maintenance. You may even find variability within one complex. The dues in one phase might cover exterior paint and roof replacement, but not in another.

Before buying a condo, find out exactly what is covered in your homeowner association dues. Also, find out if there are owners who are delinquent in their dues, and find out how much the dues have been increased over time. In a new development, the initial dues assessment may not be realistic in terms of handling future problems. In older buildings that require a lot of upkeep, you may find that the homeowner's dues are exorbitant.

Investigate any pending litigation against the complex. If the project is new, check out the builder's reputation. Have homeowner's associations of other complexes he built sued him? How does he deal with routine complaints and requests for repairs?

Read the minutes of recent homeowner's association meetings to find out if there are issues you should be aware of. Is the reserve fund adequate to handle unexpected expenses? Or, should you anticipate further assessments to repair a tennis court or replace a furnace?

While you can do all of this research on your own, why risk potentially missing an important detail? We are the experts in the Columbus, Ohio condominium market, and are available to you for any inquiry. Just contact us.

Just contact us.