Information

Take a moment to browse my resource center to look for answers and information including the latest trends in the local market.
Search MLS

Search the Washington Metropolitan area for Homes

Search Washington DC Metropolitan Real Estate Listings
Tips
Community News
Articles
Useful Links
Videos
close

Tips


Washington DC Real Estate Tips

Washington DC Tips

Energy Tips

close
close

Articles

close
close

Buckman Videos

Michele Buckman has put together some videos discussing the current DC market and what the future may hold for the real estate market in the Washington DC area.

close

Buying a Washington DC Condo: Is It for You?

Buying and living in a Washington DC condominium community has both benefits and drawbacks. This is why purchasing a Washington DC condo unit in the right community for you is so important.

Washington DC condo communities can be as different as night and day. Some have strict rules, while others are lax in their enforcement. Additionally, there are always variances in the costs associated with certain communities. Some have large monthly HOA fees. Others are minimal.

What sort of questions should you be asking your Realtor, Michelle Buckman and the local condo board?

  1. Is the community in good financial health? Are there adequate funds in reserve for large future repairs (i.e. replacing roofs, drives, sidewalks, and pools)? The condo board must be charging an adequate amount every month to keep this reserve fund in pace with inflation. If a board hasn't been doing their due diligence, you may face a big bill when a future repair needs to be made.
  2. Does this community allow you to rent out your unit? Sometime down the road you may find yourself wanting to move or rent out your unit, even to family. Many communities are very renter-friendly and this will be no problem. Others strictly prohibit non-owner occupied units.
  3. What is the percentage of tenant-occupied units? Is this a mostly rental-based community? This can bring with it the usual complaints of rentals - less upkeep, more noise, and less of a sense of permanent community.
  4. What is the turnover rate? Are residents settling in for years (an indication they like it there) or is this a community that sees people come and go?
  5. Is the condo board involved in any sort of litigation at the moment? Are they being sued by a former resident? Conversely, is there any litigation they are pursuing against any current or past residents? These kinds of questions can give you a real feel for the tone of the community.
  6. What are the bylaws and restrictions of the property? You may have your heart set on having a garden or doing your own landscaping. The condo board may have other ideas. What if you want to make certain upgrades or improvements to your unit? Is this allowed? Be sure to ask for a copy of these bylaws and then have a professional, like Realtor Michelle Buckman, look them over.

Living in a Washington DC condo can be a wonderful experience. They can be tidy and low maintenance, as well as a great social hub. Just be sure to do a little research when you're in the market to buy, so you can be sure to purchase in the perfect community for you. Got questions about buying a Washington DC condo? Please contact Michelle Buckman, Realtor. Serving all of the Washington DC area, Michelle Buckman Realtor specializes in real estate sales and has the experience you need to find and buy that dream home. Representing W.C. & A.N. Miller, a Long & Foster Company, and Christie's Great Estates properties in the Washington DC area, including Chevy Chase, Northwest Washington DC, Capitol Hill, and the Trinidad DC neighborhoods, Michelle works with a full range of clients, from empty nesters to first-time homebuyers. Please contact Michelle Buckman Realtor today at 202) 251-8400.




Copyright © Michelle Buckman Real Estate

202-966-1400 (o) | 202-251-8400(c)
michelle@buckmanrealtor.com

Michelle Buckman Real Estate


Tips for Selling Capitol Hill Real Estate
Selling a Washington DC Home from Out of Town
Buying a NW Washington DC Home: How Much Home Do You Need?
Washington DC Realtor: Washington DC Housing Market Has Recovered and Is Surging
Capitol Hill real estate is a popular choice for people looking to buy homes in Washington DC
DC Realtor: 5 Tips on Color Can Help Sell Your Washington DC Home

About | Buying a Home | Selling a Home | Listings | Relocating | Blog | Finance | Resource Center | Contact us | Home