Factors to Consider when Purchasing a Condominium
Posted Jul 15, 2009 @ 1:31 pm, Viewed by 207 Visitors, Read 210 Times.Do you have dreams of becoming a homeowner, but the thought of maintaining a home, mowing the lawn and cleaning out the gutters leave you feeling a bit less than thrilled at the idea?
There is an alternative to a single-family home, and it comes with loads of perks and amenities! Condominium living affords many individuals the opportunity of becoming a homeowner, yet it does not include much of the hassles associated with home ownership.
From secure parking to concierge services and great amenities like swimming pools and tennis courts, condo living is an exciting opportunity for everyone from young, single professionals to empty nesters looking to break out of the suburbs.
Finding the Jacksonville condo that’s right for you (and your budget) may be a bit challenging, however, if you don’t know what to look for and which questions to ask.
What to Consider before Purchasing your First Condo:
- HOA Fees – Homeowner’s Association Fees, also known as HOAs, are fees charged for amenities and services used by the homeowners in a condo building. HOA fees can cover a wide range of services and amenities, such as landscaping, trash removal, swimming pools, parking and general maintenance. As a result, HOA fees can vary widely from one condo building to the next, and can have a large impact on your monthly budget. Therefore, consider the building’s HOA fees in your overall budget.
- Location – The location of a condo may mean the difference between thousands of dollars. The term location, location, location really does hold true when it comes to condo living.
- Location within the Building – The location of a condo within the condo building can play a big role in the overall cost of the Jacksonville property. A condo on an upper floor may be more expensive because of the views offered, while a corner-unit may be revered for its panoramic views and abundance of natural light.
Visit the most comprehensive online guide to Jacksonville Real Estate and Ponte Vedra Beach Real Estate. Find the condo, townhome, waterfront property, gated community or luxury home of your dreams with our easy to use search functions and maps. Then put over 30 years of Northeast Florida real estate experience to your use when working with the Phyllis Frankel Realty Group. Let us guide you through the complex real estate process with our care, skill and knowledge.
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I had heard of end units selling for significantly more money based upon the 3 wall view versus a 2 wall view. Also, if I am representing the Buyer, I will form that as HOA's go up, the price of the condo usually goes down however market conditions will also determine that factor.