So you are considering a Condo in O'Fallon MO or St Charles County MO......

By
Real Estate Agent with Keller Williams Realty Chesterfield

So you are considering a Condo in O'Fallon MO

ContractThere are different lifestyles for different tastes and needs.  One of those lifestyles is a condominium where life is easy.  There is little, if anything, to care for on the outside of the condo.  Just one thing, have you considered some of the following?

 

 

 

  1. Why do I want to buy a condominium?  Make a list of all the reasons you want a condo rather than a single family detached house.
  2. Is what you are looking at really a condominium?  If you want a condo be sure you are not buying a look-alike (ex: townhouse, zero lot line, etc.).  Make sure it is technically a condominium.
  3. Pay close attention to the covenants, restrictions, by-laws, indentures, etc.
  4. Don't hesitate to contact the "Board of Directors" for questions and concerns.  This is the body that should be able to give you the facts on key issues that may be important to you and also make you aware of past problems.
  5. Take time to learn the key rules governing condominiums.  Federal, state and local laws all have a potential impact on your experience as a condominium owner.
  6. The quality of construction.  A very important issue both in the short and long run.
  7. Assessments and fees.....Are the fees realistic?  Too little is a problem waiting to happen...
  8. What is the profile of the occupants who live there?  What % is owner occupied.....What % is tenant occupied.....Is there anything else important to you check it out at City Hall or maybe the local Chamber of Commerce or on the web.
  9. Did you select a real estate agent that understands condominiums?  You want to pick a pro!

Take time to consider these points before buying a condominium in O'Fallon MO and St. Charles County MO and you too will be a happy condo owner.  Take the time to talk to a knowledgeable REALTOR® about condo ownership, too.

If you are looking for a new Condo and a REALTOR® that knows the St. Charles County MO marketplace and one that has called O Fallon MO home for over 15 years give me a call.  Call Don Rogers at 314-954-6775 or email me at Don@DRogersHomes.com and we can start you home buying experience today.  By the way I am never too busy for your referral, so if you know of someone that is looking to buy or sell have them give me a call, too.

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Don Rogers is a licensed REALTOR® in Missouri.  I specialize in St. Charles County Missouri and have called O Fallon MO my home since 1993.  If you are looking to buy or sell or you are relocating to the area and would like information about the St Charles County MO area do not hesitate to give me a call at 314-954-6775 or if you would prefer to send me an email.

 

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Ambassador
1,880,144
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Don, I think your point of tenant occupied or owner occupied can say a lot about the upkeep of the condos. Great point and list.

Jan 24, 2009 02:40 PM #1
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Gary,

Thank you for stopping by and being the first to comment.  One of the things that people don't realize is the make up of owner to tenant occupied condos have an effect on property condition as well as how they may be able to finance their purchase too. 

Jan 25, 2009 04:36 AM #2
Rainer
22,118
Shawn Davis
Home Crossings, P.C. - Davison, MI
Homes For Sale, Genesee County, Michigan

Some years back I used to work exclusively selling a Condomimium Project, Locally.  There are many reasons to purchase a Condominium, Care Free Living is the most popular; if you are a person always on the go or just simply love to travel there is no better option that a Condo, Don.  You make some great points on this blog!  Shawn Davis

Jan 25, 2009 07:37 AM #3
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Good afternoon Shawn,

Thank you ma'am for the comment.  I agree that there are many good reasons to purchase a condo.  The biggest one would be for the carefree lifestyle and it is in the buyers' best interest to do their home work before buying.

I hope that you are having a GREAT weekend.

Jan 25, 2009 07:48 AM #4
Rainer
215,890
Gail MacMillan
Titusville, FL

Hi Don - One problem which has developed in my market is the high number of pending short sales/foreclosures hasput a strain on the HOA budgets where many are not making the monthly condo fee payments.  This means the funds are not available to keep up with maintenance which causes the complex to look neglected.  All good points you've made that potential condo buyers need to consider.  Have a great week, see you soon :-)

Jan 25, 2009 11:57 PM #5
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Good morning Gail,

Some condo and townhome communities have spent money like a drunken sailor and there are not any reserves let either and they (the buyers) need to know what is going on.  Thank you ma'am for your input.

Jan 26, 2009 12:12 AM #6
Rainer
208,371
James Wexler
wexzilla.com - Scottsdale, AZ

Don - great list for helping presopective buyers make the decision of condo buying (and living) is right for them - have a profitable week!

Jan 26, 2009 01:32 AM #7
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

James,

Thank you for stopping in and commenting this morning.--I hope that things are improving in your area my friend.

Jan 26, 2009 01:51 AM #8
Rainer
304,164
Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC

Hi Don,
Great educational post, so many people do not recognize the difference in condos, zero lot homes, etc.  I believe one of the most important things to consider is the RCs --can't tell you how many times I have heard "but I didn't know" when in fact, they should have because they got a copy of the RCs.

Jan 26, 2009 11:17 PM #9
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Cynthia,

This is so true.  We have a seperate rider for them as well as the assn. financials. 

Jan 27, 2009 12:17 AM #10
Rainmaker
1,049,106
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Don these are great questions for a buyer to think about. Sometimes buyers don't realize how different living in a condo can be.

Jan 28, 2009 12:33 AM #11
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Bill,

So true sir.  There is a big difference and it needs to be really looked at before buying.

Jan 28, 2009 01:13 AM #12
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