Buying a Condo

Back to first Five Things

Thing No 6  

Get the inside scoop.

Ask to see the past year or two of board meeting minutes, as well as the last two years' of budgets and the current year's projected budget. Read the minutes to find out whether there are any large-scale improvement projects that the building is planning, and how much those might cost. (Not to mention who hates whom.) You should also look for any signs that a special assessment fee is might be in the works. Do these goons know what they’re doing with the budget? Take a look at the line-item budget and whether or not they have accurately projected annual maintenance costs.

Thing No 7  

Meet the neighbors.

You''re going to be sharing walls, floors and ceilings -- There may be as little as 6 feet between where your head is sleeping and the freak’s next door so, you’d better figure out what kind of freak you’re freak is – smoker? Closet headbanger? Chronic chanter? Or, the nice doctor in residency who’s only home to study and sleep?  This is not a case where you want to keep your enemies close.