BUYING A CONDO - FOOD FOR THOUGHT

Posted by Laurie Larson on Friday, May 10th, 2019 at 4:47pm.

 

Are you considering the purchase of a condominium in the Bozeman area?   Here are the stats from March 2019:

When purchasing a condo, here are a few factors (but not all) to consider:

Costs

  • Listing Price
  • Monthly Dues
  • Expenses not covered by the monthly dues
  • Insurance

Condo Association

  • Who manages the budget?
  • What is covered under the master insurance plan for the complex?
  • Is there a healthy reserve fund for maintenance?
  • What is the owner to investor ratio of the complex?

Financing

  • Have you talked to a lender to ensure that you have the credit score and financing needed for a purchase?
  • Are there restrictions on the type of loan?
  • What does the master condo association cover?
  • Did you know crawl spaces are sometimes considered personal space?
  • Did you know attics and windows are often the owner’s responsibility?
  • Ask if there are any special assessments on the horizon for future maintenance such as roofs, siding, etc.

Questions to Ponder

  • How many cars are allowed for parking?
  • What kind of pets/how many pets are allowed, if any?
  • What if you move? Can your condominium be rented out?

These are a few factors to consider when purchasing a condominium to help ensure you are an informed Buyer. 

If you are looking for a Realtor to help you navigate the process, I am glad to help you. Please phone or text me at (406) 579-8571 to get started, or CLICK HERE.

 

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