Buying A New Condo

If you’re thinking of buying a condo, there are lots of reasons why it might be a smart move right now. Condos have never been more popular, particularly with the aging Baby Boomer population, which is starting to downsize and move into homes that are easier to care for. As a result, condos are in high demand and appreciating faster than single-family homes.

Buy almost new. A newly built condo is already going to be pricier than your average co-op; factor in the expense of paying the developer’s closing costs, and it can be quite a bit more than a similar apartment that’s only slightly lived in. "A lot of people come in wanting new.

Unless a condo community is a brand-new construction looking to welcome its first group of condo owners, you might want to think twice about purchasing in a community with many properties for sale.

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Buying A Condo Is Not Like Buying A House.. It would be a heck of a note to be handed the keys to your new condo only to discover a new amendment to the bylaws limiting each owner to one.

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Buying a condo can be an intimidating experience, especially if you are a first-time buyer. Learning a few tips on how to buy a condo can help you approach the process with more confidence, and save you a few bucks in the long run. Do the prep work, plan well, and before long, you’ll be closing on your new condo!

How Much Downpayment Do I Need To Buy A House  · At the end of the day, lenders smile when homeowners afford a 20% downpayment on their new home. Most of my homebuyers swallow hard when they look at what a 20% down payment dent looks like in their pocket, but how much do you really need to stop paying your landlord’s mortgage and get into that house of your dreams?

Whether you’re buying a house or condo, you’ll have to make a down payment. This can be anywhere from $10,000 to $100,000, or more. This can be anywhere from $10,000 to $100,000, or more. Once the down payment is made, you won’t have access to that capital.

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Buying a condo can be a great option. First, ask the condo board these questions to make sure it’s doing a good job taking care of the property (and you).