Condominium Associations Invoke Many Different Reactions From Buyers And Residents
Pop Quiz:
Q. Which of the following reactions are normal for condominium owners when thinking about their building’s condo association?
- Fear of the association’s ability to impose restrictions on residents of the building
- Confusion about the association’s purpose
- Denial that dues and assessments are determined by a resident “governing body”
- Acceptance of how the association can preserve the condo units’ value strong by-laws
A. They are all correct. These are all normal reactions to a condo association.
As a buyer considering a move to an association-controlled home, though, you can use home showings to get beyond your initial “reaction” and to see whether the association is effective or not.
For example, take a quick gander at common areas.
Are they clean? Is the landscaping well-maintained? Are the floors and walls kept in good condition?
Even as we talk about curb appeal in homes, common areas (and building exteriors for condo buildings) are the curb appeal for owners in an association.
A good association can add value to a property; a bad one can take it away. Your real estate agent can help you ask the right questions to determine “just how good or bad is the association for this home”.
