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Owning a home can be a lot of work especially when you live in Massachusetts! Anyone who lived here during the winter of 2015 remembers the seemingly never-ending snow storm after snow storm! With a foot in some places last week and blizzard warnings for the next two days, here we go again! After the snow is done, there’s fixing the roof, repairing the siding, landscaping – there’s always something…<\/p>\n
Condominium living is exactly the right lifestyle for a lot of people. If you are a first time home buyer, you can generally get more living space for the same price as a single-family home, developments tend to be newer, and some offer<\/a> amenities such as swimming pools, tennis courts, fitness centers.<\/p>\n If you\u2019re just too busy or not interested in working around the house, owning a condo may be for you; the exterior maintenance is taken care of by the homeowner association so you don\u2019t have to be concerned about painting<\/a>, landscaping, snow plowing, roof replacement, etc. \u2013 the benefits of home ownership without the work!<\/p>\n A lot of empty-nesters also like the idea of simplifying and having someone else take care of things. Wouldn\u2019t it be nice to just lock the door and go somewhere warm next winter without having to worry about anything? Sounds perfect if you\u2019re someone who wants easy living; doesn\u2019t mind having close neighbors; is OK with letting other people make decisions for you or is willing to volunteer to be on the Homeowners Association Board. You won\u2019t mind trading some personal freedoms in return for convenience, right?<\/p>\n A condominium is a form of ownership that includes a divided interest – your unit, an undivided interest – common property, and exclusive use areas, ie. decks, parking spaces, some landscaped area. A condominium can be an apartment-style, an attached townhouse, a detached single-family home, a townhouse in a duplex<\/a> or a tri-plex, or a floor in what was previously a multi-family house. Some communities have age restrictions and are for active-adults who are 55+ or older. <\/p>\n Regardless of the style of the home or the size of the development, all condominiums have homeowner associations, known as HOAs and have rules and a Board of Trustees that govern the community. Offers to purchase a condominium should always include a contingency that says the offer is subject to satisfactory review\/acceptance of all documents\u2026 Most HOA rules are pretty standard, and your attorney can tell you which ones you can expect to find in most places, however, communities can and do amend the rules over the years so rules can vary. <\/p>\n Parking and pets seem to be the biggest issues but there may also be rules holiday decorations, gardening, decks, facility usage; bicycle and baby carriage storage, any selling or rental restrictions \u2013 these days many developments will not allow investors \u2026 Some associations dictate what vendors you can use to replace the windows \u2013 yes, units owners are often responsible for windows, doors; know what you will be responsible for. <\/p>\n The lender will review the budget and send a questionnaire asking about the overall well being of the development \u2013 i.e. number of owner occupied units, if there are any pending lawsuits, special assessments; but as the buyer, it is really important for YOU to read the rules. Only you can know if you\u2019ll be comfortable living by the rules that govern the condo development you\u2019ll be sharing; and the best time to do that is before you make an offer. Once you accept the condominium rules (or not) you can move forward and enjoy the lifestyle that\u2019s right for you! About the author: Marilyn Messenger, a licensed real estate<\/a> broker, Certified Residential Specialist (CRS) and Accredited Buyer Representative (ABR) associated with Andrew Mitchell in Concord, has sold dozens of condominiums and townhouses (new and resale units) in Sudbury, Wayland, Maynard, Concord, and the towns west of Boston since 1993. As a condominium\/townhouse owner and former Board of Trustees Member of a 155 unit complex, she knows how first-hand about buying and selling condominiums and about condo living. Ask Marilyn at 508-596-3501 or This email address is being protected from spambots. You need JavaScript enabled to view it.<\/span>. Search for homes at www.MarilynMessenger.com<\/p>\n<\/p><\/div>\n [ad_2]
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