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Old 03-13-2015, 08:32 AM   #41
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heeyy_joe's Avatar
Join Date: Nov 2012
Location: Madeira Beach Fl
Posts: 1,403
Whatever is on your checklist, building condition, reserves available, annual budget, and delinquencies need to be near the top of your list. In many States it is easy enough to check the tax roles to determine % of homesteaders and can lead to other info such as tax delinquencies - sometimes you can also (with a little more research) collect the relative age(s) of the owners.

Be aware that it usually takes 2/3 of owners to agree on changes, including capital improvements. Many older residents resist improvements such as adding an area for bicycle storage or adding a shared common element such as a BBQ grill/patio.

There are plenty of places that offer great condo living, you just have to have a good checklist and ask a lot of questions. Personally, I was originally attracted to low monthly fees, but when looking at units quickly realized that to a large extent higher fees often results in better condition, better reserves, and sometimes even better neighbors.

Or, I just got lucky with the 50 unit building I bought into...

"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
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