What Questions Should You Ask when Buying a Condo?

Have you been out looking at condos for sale in NYC? Maybe you are tired of not being able to make improvements to your rental property. Perhaps you want to buy that condo before the prices in that neighborhood go sky high. Whatever your reasons are for wanting to buy your own condo, you should ask a few questions before you sign the final papers. If you aren’t sure what those questions are, read on below for a few of them to help you along.

How Much Storage Space is Available?

While the condos for sale in NYC are usually pretty spacious and luxuriant, you always need more storage. Since most condos are not going to have an attic or a basement, it’s important to ask if there is storage space for things like bikes, boats, and other big items.

Is there Anything More to Understand About Monthly Association Fees?

One of the main complaints from condo buyers is not being aware of what their monthly association fees include. Make sure that you ask for a breakdown of just what you will be paying for every month so that there are no surprises on down the line. Also, ask about the repair fund that is a staple with most condos, you want to know exactly where your money is going each month and how it will benefit you if you have the need for repairs.

What Are the Rules?

Always make sure to ask what the rules are for the community you are becoming a part of. Do they allow pets? Can you plant flowers? Can you rent the unit? Questions like these need to be answered before you sign the final paperwork so that you know exactly what the rules are.

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