Why Buying a Condo Is Different Than Buying a House

Obviously, a condo is different than buying a house simply because of the layout and the location of the residence. However, there is a different set of rules that you agree to live by as well. Unlike your own property, you are not able to just make whatever changes you please, when you please. Rather, you will follow the same rules as other residents of the building and could be fined if you don't.
One of best places to learn about a condo sale is at Realtor.com where they offer plenty of advice on the sale process before you even begin.

In order to make sure you're choosing the right one, look at how much space is available. This space is going to include your parking, storage and any exterior recreation areas, so it's not quite like choosing acreage that accompanies a house. Instead, this is an all-inclusive number that shows how much room you have to live and play in.

Living Area Boundaries

It's also important to understand these boundaries so you don't invade another resident's space. For families with children, this could be important to avoid any misunderstandings with your new neighbors. If there is a board who votes on how much space each tenant has, there will also likely be a booklet or instructional documentation with this information.

Monthly Fees and Additions

Because the condo is run by a group of people, your fees are pooled with other resident payments to pay certain utilities and elements. However, there will also be a few that fall under your responsibility alone. Find out what these are so you can budget your monthly expenses properly. Fees like parking maintenance, garbage service and regular repairs will usually fall under the rent payment, but you should know how much you're paying for each of them.

Planning Remodeling Projects

Real estate renovations must be approved by the condo committee as well. They will usually want to know what your plans are and how extensive the work is going to be before they approve it. Again, in a house you own, you make this decision on your own. Choosing to live in the convenience of a condo means you make certain concessions like these. Only once the board has approved your remodeling plans will you be allowed to complete them. If you proceed to work on these projects, you may pay additional fines and repairs costs.

Pet Deposits and Noise Rules

Finally, what about pets and additional items you bring into your home? Make sure these are approved and there aren't any specific noise ordinances to be concerned with. If you need to pay a deposit for your pet or follow rules with the noise allowances, this should be part of your decision to move in.

As long as you research it carefully, then purchasing a condo might be a great choice for you. It's easy to get all the facts if you know who to talk to for answers and how long their decisions usually take. Find out if this is the right type of real estate before you invest any money and you'll be happier with your living situation and investment alike.

Article brought to you by Ian Blair, a contributor to http://www.OpenOffer.com, San Diego's trusted real estate source.

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