Chartwell Insurance Services Blog & Bulletin
News and article stories we enjoy.
Original Chartwellian thoughts and advice.
What You Need to Know Before Buying a Condo
Condominium living has numerous advantages: condominiums require significantly lower investments of time and money when compared to single-family homes. On top of these perks, most condos provide access to communal amenities of a higher quality than you will find in a rented apartment.
The recent news about the catastrophic building failure in South Florida makes it a good time to talk about what you need to do if you’re thinking about buying a condominium. Thankfully, this type of disaster is rare in our country, but stories of poor association management that result in losses for owners abound, so it's important to be fully informed when considering purchasing a condo.
The following factors will impact your condo ownership: the rules and regulations governing owners and residents; effective and prudent management of the association; and how well the building and grounds are kept. All this information is available to a prospective condo purchaser—all you have to do is request and read. Your real estate agent and lawyer will help.
View All Bulletins