Are you thinking about buying a Condo on The North Shore Of Long Island?
You may have some questions about Condo life in general that you need answered. Larry & Sheila Realtors are answering Frequently Asked Questions about Condo Living on Long Island to help Buyers decide whether or not this would be the right lifestyle choice.
Are There Rules To Be Followed? ~ Yes, upon buying a Condo, you will be given a Homeowner's Manual and/or By-Laws. Many Condo communities do not allow you to see these rules before you are in contract
Are There Monthly Fees Involved? ~ As a Condo owner, there are monthly fees you will have to pay as an owner. Every Condo here on The North Shore Of Long Island has its own set of fees that are determined by the cost of running the common areas and the amenities which it offers.
Do All The Condos Charge The Same Fees? ~ No, every community has different fees. At some Condos all owners pay the same fee no matter what size unit you are buying, and some are determined by the size of the unit.
Can I Change The Condo To Meet My Needs? ~ It depends on what kind of changes you want to make. Any exterior structural changes cannot be done. Any interior structural changes will have to be submitted to the Board or Management for approval. Each community is different and these rules will be included in the community By-laws and Homeowner's Manual.
Do Condos Have Garages? ~ Some Condo communities have attached garages, some detached garages and some no garages. But most communities have parking spaces, although some are not designated ones.
Are Pets Permitted? ~ This depends on the Condo. Some on The North Shore Of Long Island are pet friendly and others do not allow pets. Ask Larry & Sheila specifics when buying a Condo here.
Whose Responsible For Exterior Maintenance? ~ If it's a Condo and not a Homeowner's Association, most of the time the community is responsible. However, check with Larry & Sheila for details of the Condo you are interested in.
Are Rentals Allowed? ~ Sometimes yes and sometimes no. Each community is different so if you are planning to buy a Condo on The North Shore Of Long Island to rent out, you must verify this information with the individual community.
Do All Condos Have Amenities? ~ No. There are active Condo communities with clubhouse, pool, tennis, gym and social activities, and there are also some with no amenities except that the lawns are maintained and snow is removed. Some neighborhoods do not cover the lawn or snow maintenance, so again, check with Larry & Sheila for this information.
What's The Difference Between A Condo, A Townhouse and A Pud?~The easiest explanation is the following but you can also read this link which Larry & Sheila wrote on this subject: http://activerain.com/blogsview/3035434/is-there-a-difference-between-a-condo-a-townhouse-and-a-pud-
Townhouse ~ You own the land on which it sits.
Condominium ~ You own the inside of the unit.
PUD ~ You own the land front and back of unit.
Many consumers and Realtors too, conveniently refer to all of these types of structures as Condos, although they may actually be a Townhouse or PUDThere are many factors to keep in mind when choosing the North Shore Long Island Condo of your choice. This will be an investment decision that can last a lifetime and should be considered very carefully.
This Long Island Real Estate Condo Buyer Tip is courtesy of Larry And Sheila Realtors 631-805-4400, helping Buyers and Sellers on The North Shore Of Long Island.