3 Tips for New Condo Owners
Condominiums provide an affordable and low-maintenance way to purchase residential real estate. However, if you’re used to living in a house or apartment, moving into a condominium community might feel like an odd transition at first. If you’ve just joined a condo community, make the most of your experience by starting on the right foot. Follow these three tips to know what to expect and how to enjoy your future there.
Residential Real Estate Guide for Condominium Owners
1. Read the Rules
Each member of a planned community agrees to follow certain rules for the benefit of the community. Following these rules will ensure you avoid any fines and get you off to a good start with your new neighbors. Read the CC&R (Declaration of Covenants, Conditions & Restrictions) and the bylaws to know the rules you need to follow. Some common rules to look out for in this type of residential real estate include those regarding pets, allowed noise, outdoor furniture, and parking.
2. Understand Your Rights
Just as you have rules to follow, you also have rights in place for your protection. The board of your association should be transparent regarding its budget and financing. While they may not automatically present you with this information when you move in, you can ask for it. The bylaws lay out your rights as a resident, and they dictate how the community is governed. It’s up to you to read and understand your rights, and doing so will make you more empowered as a resident of the community.
3. Go to Association Meetings
You have the right to attend association meetings, so take advantage of this. Regularly attending meetings lets you get to know the association members. These members are also your neighbors, and knowing them will be helpful in the future, whether you wish to host a gathering in your home or if you eventually want to give them any input on the future rules.
If you’re considering moving into a condominium, talk with a realtor at Liberty Realty LLC in Hoboken, NJ. This residential real estate team has been in the local market since 1995 with proven results. They serve real estate buyers and sellers alike with their in-depth industry and local knowledge. Contact this real estate agency online or at (201) 610-1010 to schedule an appointment.