A condo is ownership of a single unit within a larger structure, plus a fractional interest in shared common elements. In the best buildings, that fraction buys concierge, fitness, pool, rooftop, secure parking, and a maintenance staff that answers when the dishwasher fails on a Sunday.
The financial and legal review of a condominium is more involved than any other property type. We read the resale package cover to cover: budget, reserve study, meeting minutes, insurance master policy, litigation disclosures, rental caps, pet rules, and any pending special assessments. A building with a beautiful lobby and a hollow reserve fund is a building to walk away from.
For You If
You want amenities, urban proximity, minimal exterior maintenance, and a lock-and-leave lifestyle.
Reserve Studies Matter
A fully-funded reserve is a green light. An underfunded reserve is a future special assessment with your name on it.
Financing Nuances
Warrantable vs. non-warrantable status affects loan program, rate, and down payment requirements.
- For You If
You want amenities, urban proximity, minimal exterior maintenance, and a lock-and-leave lifestyle.
- Reserve Studies Matter
A fully-funded reserve is a green light. An underfunded reserve is a future special assessment with your name on it.
- Financing Nuances
Warrantable vs. non-warrantable status affects loan program, rate, and down payment requirements.