The convenience of owning a Lake Grande condo is reflected in the fact that condo owners are not plagued by the worries that traditional homeowners are. Many times, the maintenance of the condo itself as well as common areas are handled by an outside party. On the other hand, condo owners do have a whole different set of circumstances that traditional homeowners are not typically aware of. Therefore, it’s definitely a good idea to do your research before becoming a condo owner.
Before you buy, talk to other condo owners in the area, asking questions about the following:
1) Condo rules: how do they feel about them and how are they enforced- if at all?
2) Building issues: how are residents informed about issues with the buildings- common area bulletin boards, emails, phone calls, etc?
3) Maintenance quality: how often are elevators and common areas cleaned? How often are windows washed?
4) Is the management company approachable and what is their average response time to concerns?
5) Noise level: what is the neighborhood noise level? What is the interior noise level?
6) What is the average monthly amount for utility bills?
7) How is the security level of the condo complex?
In addition to speaking with other owners in the area, you will benefit from taking time to meet with a member of the board and ask them for a copy of the association rules and feel free to ask questions about the following:
1) What are rules on usage of the common areas?
2) What are the rules regarding rentals in the community?
3) What do the association dues cover and what increases have gone into effect in the past three years? What exactly are the dues used for?
Finally, before you buy a Lake Grande condo, you’ll want to make sure that your realtor has the following things in writing in your condo purchase agreement:
1) Information regarding parking: how many spaces can you have? Is it covered parking? Is parking included in purchase price or condo association dues?
2) Information regarding storage: how large is the storage area and where is it located?
3) Information regarding utilities: what utilities are included in the dues and which ones are not?