Quote:
Originally Posted by tony286
If you are thinking to go with the condo. Ask to see condo assoc balance sheet, a copy of the hoa rules. How often are special assessments and how much?(dont want to move in and one month later they are calling for a 50k special assessment) When is the next major thing the assoc will have to do and how much will it cost? How much does the hoa have in reserves? How much are hoa fees and how much do they go up every year? How many delinquents does the community currently have? These are things Realtor wont volunteer and dont accept vague bullshit answers for any of those questions..You can learn from my pain lol.
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All this stuff should be covered off in your offer, and reviewed by a lawyer before you go firm on your offer. Just make your offer conditional on a status certificate, and reviewed by lawyer - it's pretty standard.
As someone that's moving from rural to an downtown condo, I'd advise it all comes down to lifestyle. Do you want to be close to everything and walk, or have a bigger home/yard, and drive everywhere? - your choice.
If I was 25, I'd go downtown, especially if you plan on being there 5-6 years - In Canada, you'll make money on real estate in that time period for sure.
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