Condos are usually less expensive than single-family homes and have lower maintenance requirements, making them good options for homebuyers on a budget or people looking to downsize. Loans can be harder to get for a condo because some lenders have strict requirements regarding owner occupancy and loan-to-value ratios.
Condo owners will have to abide by the covenants, conditions, and restrictions (CC&Rs) of the complex or risk being fined, forced to comply, or sued. Condo owners pay monthly fees that cover the cost for ongoing maintenance and repairs of common areas within the complex, such as the grounds, pools, lobbies, elevators, and recreation rooms.
One of the things that come with condo ownership is the Homeowners Association (HOA). It sets out a declaration of covenants, conditions, and restrictions (CC&Rs) that lists things that you, as the condo owner, must comply with in order to live there. If you find that you won’t be able to abide by the CC&Rs, condo life might not be for you. Non-compliance could mean you could be fined, forced to comply, or even sued.
Condos may be a suitable choice for a certain type of person, like a first-time homeowner who cannot afford a more expensive single-family home. Condos also offer the advantage of low maintenance. This can be an attractive feature to older folks who are looking for less of a home to physically manage. Condos can also be an attractive choice for the person who wants to be centrally located in a big city.
Just like a house, according to Aspen Air, making upgrades in the HVAC system in your condo will increase its value. When you purchase and install ductless condo air conditioning, you will add value to your home through the improvement in home comfort, clean-air benefits and energy efficiency.
Fees For The Flanders Condominiums Include:
– Monthly Condo fees $527.00 (standard 1 bedroom)
– 22% commission to Flanders (per rented night)
– $20.00 maid service, per rented night
– Parking in season only, $15.00 per rented night only peak season
– Annual fees (estimated):
- HVAC cleaning 125.00,
- Carpet cleaning, 95.00,
- Unit deep cleaning, 200.00,
- Linen replenishment, 250.00
- Beach tags
- ONE TIME nonrefundable fee of 994.00 upon purchase. (at settlement) in addition to your settlement fees)
Included in Monthly Association Fees:
– Common Area and Exterior Maintenance
– Fire, Flood and Casualty Insurance
– Liability Insurance for Building and Common Areas
– Water and Sewer Fees
– Advertising
– Telephone
– Cable TV and Wireless Internet
– Heated Pool
– Management & Routine Maintenance (building)
– All Utilities except Electric in Units
*Data deemed reliable but not guaranteed. Figures are estimates and can change at anytime.