Association of condominiums budgets and determines the cost for all the condo units. Condo fees are often determined by the size of your drive, how many units are currently occupied and projected costs for building maintenance and repairs.
Condo associations and organizations vary in their experience. Some questions you might want to look at are as follows:
* Does the association to maintain a reserve fund to pay for unexpected repairs and potentially expensive? This will help determine whether it is possible to beat the special assessment level. If you are looking for an upper west side luxury condominium then you can navigate this webpage https://thevandewater.com/upper-west-side-architecture.
* Does the association maintain the building in good condition? Can handle repairs and maintenance before they become a big problem? Before you buy, is a good idea to get a check in your unit luxury, as well as the entire structure to identify potential problems.
* Does the association intend to expand its facilities, such as swimming pools or gym, soon? This can cause a sudden increase in their costs. Ask to see the latest meeting minutes from the condo association, which should reveal the plan.
* The development is pending lawsuits? Is there a conflict between landowners, developers or associations should know about?
* What is the reputation of the association in the building?
The developers usually do not maintain long-term interest in a building, but the work they put in is important. A home inspection may appear major structural fault in the building, but not based on this alone. You should investigate the history of the developer, and find out if there is a problem with evolution.
Also, find out if the developer is still in business and whether it is financially stable. If the developer is no longer in business, condominium associations who may have little or no legal recourse in the event of serious weaknesses found in the property.