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Are your Buyers prepared for Condo living?

Reblogger COMPASS PALM SPRINGS | Stewart Penn
Real Estate Agent with COMPASS DRE# 01339266

This is an excellent post about Condo Living - written by Steve Shatsky a year ago. 

It's worth re-reading.

Original content by Steve Shatsky

The diversity of condominium owners makes for very lively "discussions" about associations rules and their enforcement.  Prior to purchasing a condominium, every buyer receives a copy of the by-laws and rules governing the community, yet it seems that often condo buyers are unprepared for the "compromises" that community living requires.  All the time I hear about condo neighbors throwing very loud parties that go late into the night (or early into the morning) as well as loud stereos, home theater systems with surround sound that makes items hung on shared walls vibrate or fall down, and even misuse of common areas like hallways and elevators when a resident pet decides to use one of these areas as a toilet and the owner feels no obligation to pickup after it ("Isn't that why I pay my monthly HOA fees?).  And the rules violators always seem to use the same defense... "I should be able to do whatever I want since I own here, pay my HOA fees and this is my home."

As a condo owner, when I hear these complaints around my building I often wonder if or how the real estate agents who sold these people their units prepared them for the realities of community living.  Clearly, you give up certain freedoms to live in a condominium.  You must live and be respectful of your neighbors in a way that you need not be in a single family detached home.  You must realize that your neighbors' property values are tied to yours and when you (or your pet) destroy the common areas that you affect everyone's property values and that the HOA budget is funded by every owner.

When I represent a buyer wishing to purchase a condo, I always have a "lifestyle" conversation with them before I will write a contract for them.  Do you live loudly (stereos, parties, etc.) in a way that will disturb neighbors?  Do you realize that if you do live loudly that your neighbors will likely have cause against you per the building rules?  Do you realize that even in the nicest of condos there will be a certain amount of noise transference between units?  Will living by rules that may change and that you may not necessarily agree with bother you to the point of unhappiness?  By asking these questions I can help a prospective condo buyer make sure that they will enjoy their new home, and not regret their choice... and that hopefully their neighbors will be glad to have them as neighbors.  I want my buyers to not have any surprises or regrets, or to ever call me for a conversation that begins with "Why didn't you tell me that buying a condo means..."

What (if anything) do you do to prepare condo buyers for the reality of their home choice?

Comments(7)

Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Oh yes...."why can't I have all 8 of my cats" "why can't my son live her for 7 months out of the year with his Pitbull" "why can't I have my loud music on till 3 am when I get tired"

Jun 12, 2009 05:58 PM
Ralph Gorgoglione
Metro Life Homes - Palm Springs, CA
California and Hawaii Real Estate (310) 497-9407

Most clients know that there are rules for the complex.

But I suppose there are still a few boneheads out there who need to be reminded.

Jun 12, 2009 06:13 PM
Roy Kelley
Retired - Gaithersburg, MD

Some buyers will never be happy with condo life. Even those that like the lifestyle are complaining about the financial problems that many condo communities are facing.

Follow me on Twitter: http://twitter.com/roykelley

Jun 12, 2009 09:52 PM
Betina Foreman
WJK Realty - Austin, TX
Realtor, C.N.E., with WJK REALTY

Nice post on condo living. It is commendable that you ask the right questions to determine if a condo is really right for your buyers.

Jun 13, 2009 02:51 AM
FN LN
Toronto, ON

Great post regarding condo living lifestyles and condo rules.  Condos are not suited for some people but not all people.

Jun 13, 2009 10:08 PM
Troy Jowers
Pogo Realty, LLC - New Orleans, LA
New Orleans Realtor

Thanks for reposting this. With the great deals in the condo market around here, many University students and their parents are buying small condos as an alternative to our insane rental market. I think these folks in particular require the "lifestyle" conversation since the stereotypical college life will have to be toned way down to make that investment a smart choice. Thanks again for bringing up the topic.

Jun 28, 2009 02:07 AM
Cris Burlew
Beach & Luxury Realty, Inc. - Saint Pete Beach, FL
Broker ~ St Pete Beach FL Real Estate

Most of the condo's we sell in our area are for 2nd home and or to rent out. We still have to explain to them all the restrictions imposed upon them, even if they are not going to live in the unit. Most of our buyers are of a different mindset and don't have any problems with the rules.

I personally enjoy condo living...I get to lock up and go...no yard, roof or pool to maintain...all paid by maintenance fees. It gives a certain freedom and definitely a "lifestyle". Thanks for reposting this all too important topic for condo's.

Jun 29, 2009 01:41 PM