10 Questions to Ask When Buying a Jupiter Condo

Filed in What's New? by on July 19, 2017

                   Purchasing Jupiter Condos

You’ve decided to purchase a Florida vacation home and decided to look for Jupiter condos and the surrounding areas. Many of you have owned single family homes and have never lived in a condo community with rules and regulations. I will tell you some condo associations are strict rule enforcers and others are more lax.

10 Questions when buying a condo – Don’t Make an Expensive Mistake!

  1. Condition? How is not only the condo maintained but the building and the grounds which reflect how they spend their money.
  2. Common Areas? Are common areas clean, well maintained and updated?
  3. For Sale? How many condos are for sale compared to similar buildings. Large percentage could be a problem or assessments coming up.
  4. Owner Occupied? What percentage are owner occupied versus rentals? Back during the boom investors bought cheap condos for rentals and banks don’t want to see a large rental percentage.
  5. Condo fees? How much are the fees and what’s covered? Have they changed dramatically over the years?
  6. Reserves? Florida has a 3 day rescission period to look over books, rules and documents.
  7. Board Temperment and Management Company? Read your board minutes to see what’s happening now and in the past.
  8. Lawsuits? Pending litigation against the condo? Banks may not lend if pending litigation.
  9. Insurance? Does the condo cover exterior insurance and you pay only interior contents(HO6) . Flood insurance? Yes, even a hi rise condo may need flood insurance.
  10. Debt? How much debt(liabilities ) does the financials show?

                                       Jupiter Condos

Soon to follow the next 10 questions you need to ask when buying a condo. Following these few questions will make living in a condo community much more enjoyable and you won’t be surprised. Speak to the owners in the building, ask questions. What do they like or dislike about the community. I specialize in condo communities and no what questions to ask before you plunk down a cash deposit to buy a new Florida vacation home.

See some great Jupiter condos for sale below!

 

We sell in local areas as well. We can help you find Singer Island condos which is just down the street or look at Jupiter Island condos which offers both water views as well.

Jupiter Condos

Buying a Jupiter Condo

 

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