When it comes to deciding whether or not you want to invest in a condo or a single-family house, there’s a whole lot to mull over. Before stressing about homeowners associations and finding the perfect neighborhoods we decided to speak to Realtor Nancy Guerriero, who offered a wealth of sound advice.
“The biggest positive you have with a condo is the ability to lock and leave — go out with friends, travel, it’s so much easier than a house that needs to be watched over and maintained,” Guerriero says, “But at the same time you need to think about the neighborhood.”
She explains that there’s a basic checklist that most homebuyers go over before purchasing: What’s the school system like? Are there parks? Where’s the nearest shopping center? Grocery store? All of these components are essential, and as vital as exploring a condo’s homeowners association (HOA).
“The biggest issue is the governing power of the building, or HOA,” Guerriero emphasizes. “If you don’t have a good one, it’s bad news.”