When you move to Utah, buying a condo can be a great investment. However, before you commit to any purchase be sure to consider the types of neighbors you have in your complex. Your neighbors can actually have a role in how the homeowner association runs.
It is important to know the type of neighbors you have. How your neighbors treat their property will effect the value of your condo. Here are a few questions to consider before buying your condo.
First, how are issues regarding the complex discussed? Is there an open communication with the use of technology, such as email and online forms. Or is it a little behind the time so it takes a while for complaints to be heard. Knowing the guidelines of the complex can help you handle situations with neighbors better.
Secondly, do your neighbors pay their homeowner association dues on time? Members of the HOA are obligated to pay fees in order to keep the property maintained. Members who do not pay their dues make it hard on the entire complex because the property will be neglected and not taken care of as nicely as it could be.
You can find out the rate of late payments by requesting a history of dues payments. If there are a high number of individuals that is an indicator that your property isn’t, or soon won’t be, kept up the way it should be. Homeowners who do not make payments are sometimes forced to foreclose, which is not a good sign either.
Lastly, how many units in the complex are rented out? The reason to consider this is because renters are more prone to not take care of their condo. Owners of condos usually invest more time in to their property and making it look nice.
Buildings with high rental occupancy don’t sell easily. The more renters in your complex the less value your property will have. Some lenders stipulate that 30 percent or more of the units be rented because of how difficult it is to maintain the condo’s value.
Utah moving companies can really come in handy during a move to a condo. Utah moving companies save you time and energy during your move to Utah. Once you have found your perfect condo go ahead and give Two Man Movers a call – your favorite Utah moving company.