What kind of service are you getting for that condo fee?
Buyers of condominiums know that there is a wide variety of fees charged by condo fees. Sometimes they are just covering the basics - master insurance, landscaping & snow removal. Sometimes, they cover much more including water, sewer and heat. Maybe there is a pool and the fee covers the maintenance of that too. A good REALTOR will make sure that the Buyer is aware of what the fee is, what is covered and what is not.
Just knowing what the fee covers is only half of the information. As I was driving around in the snow today for some showings, I encountered some properties where the snow had not been plowed or not plowed very well. If you are paying a fee for that service, it should be done well and promptly. So, if you are thinking of buying a condo, take a second (or third) look. Drive by some time after it has snowed and see how the plowing was done or drive by at a random time to see how the landscaping is kept up. I had a client who drove to one complex after we had seen it and found a couple of residents to find out how they thought the complex was managed and if the fees were used wisely.
Some condo fees can be hefty. Take the time to do your research and have your agent do research to determine whether or not you get what you should for that fee.
Finally, if you decide to put an offer on a condominium, make sure that your offer has a contingency period for review of the condominium documents and financial statements as I discussed in a previous post.
If you are considering buying a condo in Canton MA or in a Norfolk County community, contact me to find out how your Canton MA Buyer Agent can help.
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Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field.
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