If you’ve made the decision to purchase a condo rather than a single-family house, you’ve probably already looked at the benefits and disadvantages of each. Living in a traditional condo and belonging to a condo association entails monthly fees, but typically you won’t be responsible for exterior maintenance, snow removal, or landscaping, as you would if you purchased your own home. Additionally, you’ll have access to common facilities such as swimming pools, tennis courts, and gyms or fitness centers. And belonging to the association means you’ll have shared decision-making power over the complex’s rules and regulations. Condo complexes also offer a sense of community.
If your condo purchase is a second home or vacation property where you will live only part of the year, paying the monthly association fees will likely be well worth it to you. Leaving someone else to worry about maintenance will mean that you can be away for extended periods of time without having to worry about the state of your property.
Before you commit to buying a condo, however, you’ll want to find out all the details regarding the monthly fee structure; most condo owners can expect to see an increase in fees with time. You’ll also want to make sure you understand exactly which amenities are included with that fee. Some association fees cover very comprehensive services, including water and sewage, trash removal, and even certain types of insurance.
You may choose to look into buying a freestanding condo in lieu of the more traditional variety. Embodying aspects of both single-family homes and traditional condos, freestanding units have their own set of advantages and drawbacks. You might appreciate the extra outdoor space afforded by not sharing common walls with your neighbor, not to mention an increased sense of privacy. But it’s important to remember to read the fine print in your association regulations to understand just what, exactly, is covered in terms of maintenance and grounds upkeep. And while your unit might be freestanding, there will likely still be rules governing what modifications you can make – particularly to the exterior.
If you are looking into buying a condo, it’s important that you shop around. Not only might you be interested in the types of units available in different locations around the Cape, but you’ll want to comparison shop for amenities like the type of parking and beach access available to you as well as the regulations of different condo associations – like restrictions against certain pets. A real estate agent who understands the Cape market and is conversant in the different condo options available will be an excellent asset to you as you set out in your search for the perfect condo for your needs.
Bayside Realty Consultants
12 Bridge St, East Dennis, MA.