What You Need to Know About Condo Associations

When you buy a condo you are buying more than just the four walls of your unit. You are buying an undivided, shared interest in the common areas of the building. It’s important to understand the health of the building and the association to ensure you don’t have any special assessments sneak up on you. You can do this by examining the common areas of the building. It’s also important to check the reserves of the building and ensure there is at least $1.5k- $2k in reserves per unit in the building. Check out my videos below to get a better understanding on specific condo association topics.