What You Need To Know When Buying a Condo

Are you planning to buy a condo? Here’s what you need to know.

I’ve recently been working with a few clients who want to purchase condos and then rent them out as a part of their real estate investment. It’s a great way to generate wealth but condos are not exactly like houses. If you want to pursue this route, there are a few key differences between the two you’ll need to know.

You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:

0:00 — Introduction

0:34 — Condos are governed by more rules

0:49 — Many condo associations have rental restrictions

1:35 — Renting out your condo can drive down your property’s sales price

1:50 — The condo association typically takes care of the maintenance of the condo building

2:31 — There is typically a monthly condo fee you’ll have to pay

2:56 — What you own when you buy a condo

3:42 — Learn the scope of your ownership and responsibilities

3:57 — A Wisconsin law when buying a condo

5:52 — Wrapping up

If you need more details about this topic or have any real estate concerns, don’t hesitate to call or email me. I’ll be happy to help!

 

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