Is Downsizing To A Condominium The Right Decision For You?

Is Downsizing To A Condominium The Right Decision For You?

Is Downsizing To A Condominium The Right Decision For You?

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Downsizing to a Condominium

If you are considering downsizing from your current home perhaps a condominium is the right choice for you. 

Huntsville Alabama has many condo communities and one of the attractions is that Condos can be smaller with fewer maintenance issues and a great alternative when downsizing.  However with condos come HOA’s, and a special set of guidelines so it’s important that you pair up with a real estate agent familiar with details of condo ownership.  Be sure to read the association by-laws as some can be very restrictive.

 Condominium The Right Decision

In exchange for a monthly assessment or association dues/fees, maintenance is provided the condo owners usually by a management firm.  With a part of the dues set aside for larger maintenance jobs or repairs and replacement such as roofs, or siding.  It’s important to know what is covered in the monthly assessment.  The services vary widely from one association to another and may include, common grounds and individual owners yards, exterior insurance, water, pest control, trash removal, cable/TV, snow removal etc.  Don’t assume that the association fee will be cheap!  I’ve seen association fees from $10 a month into the $1,000’s.

Many condo buyers never think about checking a condo associations financial records or insurance policy.  You will want to know what is insured as most associations insure from the walls out and you may need to carry a separate insurance policy for “paint in” covering your belongings.   Associations also have to re-certify in order to be approved for an FHA loan…something you need to know before making an offer on a condo.

 You might find this link helpful regarding Condominiums

A little research into a condominium association and complex ahead of time will help to ensure you’ve made the right condo decision and answer the question, “Is Downsizing To A condominium The Right Decision For You”?

While deciding please take this opportunity to see available Condominiums in Huntsville Alabama.

If you need a knowledgeable real estate professional in Madison or Huntsville Alabama area, why don't you let me Google that for you! I also know outstanding agents in all states and Canada should you need help relocating to a new area.