The condo market offers excellent opportunities right now for savvy buyers, because there seems to be more inventory than interested purchasers. This is particularly true for condos located in larger buildings and high rises—not so much for units in smaller buildings with access to outdoor space. Those are still popular and go into contract more quickly.
It’s important to consider the complexity of owning this type of property, before you rush out to look at different possibilities.
Here’s a quick primer that will help you evaluate the fundamentals of a condo and its homeowners association (HOA). Continue Reading