Main Line and Philadelphia Real Estate Blog

So You're Looking for a Condo

Condominium living offers many benefits:

  • You don't have to concern yourself about exterior home maintenance anymore. Bye-bye lawn equipment and extension ladders.
  • You own a real estate asset that provides the same tax benefits and appreciation possibilities as any home.
  • There is frequently an enhanced sense of community in a condominium development versus a detached home neighborhood

But before you take the plunge, you owe it to yourself and your family to get answers to the 7 questions below.

  1. What is the financial health of the development? You have the right to examine the current financial statement of the condominium association of your prospective development. Your real estate agent can procure this for you. This is done after there is an agreement of sale in place and the agreement should allow you to exit the deal and receive back your earnest money if you are not satisfied with what you find. You...