If you enjoy a low maintenance lifestyle then condo living may be a great fit for you. You can have the advantages of home ownership without the extensive maintenance. In a condo, your monthly maintenance fee generally includes exterior upkeep and insurance on the building along with the use of common areas. Many condominiums in Florida have a pool that you can enjoy along with other amenities.
Here are some things to know when considering a condo purchase.
1.) Condo Monthly Fees – These are sometimes referred to as HOA (Homeowner’s Association) fees or maintenance fees. You will want to find out what is included in the fee. Although you may think of condo fees as just being an added expense, they often include a lot of things that you would have to pay separately anyway, such as hazard insurance, exterior maintenance, lawn/green space care, and taking care of common areas. Some also include such items as monthly cable, water and sewer, pest control, and others.
2.) Condo Bylaws And Rules – It is important to review these documents thoroughly prior to purchasing a condominium. If items such as the policy on pets do not coincide with your lifestyle, it’s best to find out before moving in.
3.) Special Assessments – Always inquire about any current assessments on the condo.
4.) Reserves – Ask if the HOA has any funds in reserve to help take care of large maintenance items, such as roofing, exterior painting, etc. If the reserves are strong it can help to lower or avoid the assessments mentioned in #3 above.
If you are interested in finding out more about condos in the Jacksonville, Florida area, please let me know! I’d love to hear from you!
Looking for a condo in the Jacksonville, Florida area? Have a question regarding condominium living? Give me a call at 904-728-9720! I’d love to hear from you!