Want To Live In A Condo? Plus and Minuses

Pamela Madore
The Pamela Madore Group
Keller Williams Realty
http://iloveamarillo.com

What is a condo?

In other parts of the country there are many condos.  In Amarillo we have very few so unless you have lived in one, you may only have a vague understanding of what they are.  You may also have heard bad things.

Amarillo Condominium

A condominium development is a series of homes in all shapes, sizes, and structures.  They may be one floor or 10 stories high.   Each unit is owned fee simple--you own the property just like it was a house.

There is a mandatory condominium association that everyone belongs to.  It is run like a business with a board of directors voted in by the members of the association.  They keep a budget, plan for improvements,  keep a reserves for replacements for big items such as roof replacement or road repaving.

Condominium Pool

Usually, condominiums have amenities such as a pool and a clubhouse.  Some may pay for your water.  Often there are other recreational facilities depending on the size of the development.  There are condominiums that have golf courses as an amenity.  Some are gated communities with 24 hour security.

In addition to the amenities the association takes care of all yard work around the units and the public areas.  There is one umbrella insurance policy that covers from the studs out so owners only need carry contents insurance if they choose to.

There is a monthly fee that you pay for to the condo association (some condos are quarterly) to pay for all the above items.  Fees range depending on the amount of amenities provided.  The monthly fee is far less than if you owned a house and provided yourself with all of the amenities.  Homeowner's insurance, for one, this could be almost as much as your annual dues.

Not In Amarillo--Sorry

There are lots of misconceptions above condo living.  It is not for everyone.  But it is a great benefit to many people.  Busy people that don't want to do yard work. No fixing broken sprinklers.  Someone else maintaining the pool.  In other words, if you have worked all week and you just want the week-end to relax by the pool knowing that the yard is weed free, then it may very well be for you.

There are a few condominiums in Amarillo.  If you would like more information or would like to see one, please contact us.  

Pamela Madore
The Pamela Madore Group
Pink House Team
Keller Williams Realty
3955 S. Soncy
Amarillo, TX 79119
http://iloveamarillo.com
806-290-1920