By Barbara Lehrer
Real Talk
Barbara Lehrer.
It seems that the public has a negative attitude toward living in a village. Isn’t that what condo life is like? If you are social you can meet new neighbors and know that there are others around you, just in case. A clubhouse, a pool: sounds like a vacation. The pros and cons are many, but I can tell you that I really have never had a new buyer tell me he is unhappy in his or her condo.
Of course, if you are used to privacy and you have lived with a large yard then this new lifestyle may seem a little close. But think about the benefits. No longer will you mow the lawn, trim the trees, fertilize and weed, clean the gutters or worry about the roof and the driveway. You will not have to clear the snow or worry when you go on vacation that things could go awry at home.
What you get for your money, which is a monthly charge between $300 and $500, is even more than that. You get exterior home-owners insurance most of the time, garbage removal, sometimes water and sewer charges and a management company that will research and respond to any problems you may have that relate, for instance, to an adjoining wall of a neighbor.
You cannot buy a decent house these days for under $250,000 but you can buy a good condo. The values in Milford and Orange are doing nothing but going up. We live in a great location. The shopping, transportation, entertainment, beach and education far outweigh most other New Haven county areas. Even out of our area, families are purchasing cluster homes in North Carolina and high-rise condos in Florida, all for the ease of living.
Don’t knock it because someone bought a unit on which the deferred maintenance of major issues was coming due, the kitty of funds was probably never established properly and now they need to raise the fees substantially. Scrutinize your prospective units. Even a good lender who knows you are writing an offer on a condo will call the management company and request the budget and any outstanding lawsuits or bills.
You can even get on the board at most developments if you want to. These little “villages,” as I call them, welcome assistance in planning ahead and pricing out projects to be done. If you are purchasing, just make sure that the major items have been completed and paid for in the past 10 years. That is a safeguard that promises to keep your condo fee down.
Of course, a good real estate agent will get these answers for you up front also, finding out the percentage of renters on the property, how many units there are, what the most recent sales were closed at, and more. Always rely on your realtor first for the best advice and information.
If you need more information on these issues, email Barbara.Lehrer@cbmoves.com.