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9 Issues to Consider BEFORE Buying A Condominium in Chico

September 30, 2008

Issue #1
Why buy a condominium?
Make a list of all the reasons you want a condominium rather than a single family detached house.

Issue #2
Is what you're looking at really a condominium?

If you want a condominium be sure you're not buying a look-alike (ex: townhouse, zero lot line, etc.). Make sure it is technically a condominium.

Issue  #3
Pay close attention to the covenants, restrictions, by-laws, indentures, etc.
Are these things you would be okay adhering to?

Issue #4
Don't hesitate to contact the "Board of Directors" for questions and concerns.
This is the body who should be able to give you the facts on key issues that may be important to you and also make you aware of past problems.

Issue #5
Take time to learn the key rules governing condominiums.
3 Federal, state and local laws all have a potential impact on your experience as a condominium owner.

Issue # 6
The quality of construction

A VERY important issue both in the short and long run

Issue # 7
Assessments and fees

Are the fees realistic? Too little is a problem waiting to happen...

Issue #8
What is the profile of the occupants who live there?

...% owner occupied
...% tenant occupied
Other demographics that are important to you

Issue #9
Did you select a real estate agent that understands condominiums?

Pick a pro!

 

 

Interested in learning more about the Chico area or Ryan
Vaught Properties: Chico Income Property
Chico Condos: Chico Condo Sales
Ryan Vaught: Ryan's Residential website

Ryan Vaught, Realtor
Keller Williams Chico CA
Office Phone: (530) 343-2959

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Comment balloon 1 commentRyan Vaught • September 30 2008 04:48PM

Comments

Fantastic post. With your permission I'd like repost a portion of this article at Condo Benefits. I would of course link to you in the byline.

Posted by Will Nesbitt, Nesbitt Realty is a family-run brokerage. (Nesbitt Realty at Condo Alexandria) almost 11 years ago

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