Why Buying a Condo Is a Bad Idea

Chris at Hauseit (https://www.hauseit.com) goes over the various reasons why buying a condo might be a bad idea.

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While we firmly believe that buying real estate of any type, whether is be a single-family house or a condo, is usually a good idea especially in an inflationary environment like we're in today, there are also more than a few reasons why buying a condo unit may be a bad idea. After all, condo and community living in general might not be to everyone's tastes!

We'll go over a litany of various reasons why condo living might become a headache, such as the prospect of loud neighbors, crazy board members, unresponsive management companies, a board that is apathetic, a lack of fiscal discipline, unexpectedly large special assessment levies, shenanigans in the offering plan regarding favorable treatment of the sponsor or commercial unit owners and so on.

There are many reasons why buying a condo might be a bad idea, including simply the fact that you're an introvert and don't enjoy having to see or talk to other people, or share amenities. Perhaps you simply want the pool all to yourself, and don't want to have to work out with neighbors who might want to chit chat.

Also, there's building rules that you don't control (unless you're on the board) that you have to worry about. This was especially an issue when we have lockdowns and other restrictive pandemic related measures which made condo living in certain locales less desirable. And lastly, sometimes you just want to be the king of your own castle, so to speak. Watch this video and let us know your thoughts!
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https://www.hauseit.com

Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Est 2014.

Hauseit Group LLC, Licensed Real Estate Corporation
Tel: (888) 494-8258 | https://www.hauseit.com
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