Asking questions is a vital part of buying a condo unit. The trick here is determining which questions are the most important to ask. After all, you don’t want to waste a seller’s time by asking questions wherein the answers are already present in the description in the listing. With that in mind, here are a few questions you should definitely ask if you are looking to buy a condo unit in the near future:
Is the building professionally managed?
If the building is professionally managed, don’t forget to give the management company a call. This quick call can inform you of any future plans for the building such as renovations, expansions, and the addition of new amenities. This should give you a good idea of the value of a unit in the future.
What are the rules regarding renting out condo units?
Many condominium buildings have a strict set of rules when it comes to owners putting their units up for rent. This is an especially important question if you plan to rent out the property as a form of additional income. The last thing you want to happen is to invest in a condo unit only to find out later that you cannot rent it out to interested parties.