Are you planning to buy a condo? Here’s what you need to know.
I’ve recently been working with a few clients who want to purchase condos and then rent them out as a part of their real estate investment. It’s a great way to generate wealth but condos are not exactly like houses. If you want to pursue this route, there are a few key differences between the two you’ll need to know.
You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:34 — Condos are governed by more rules
0:49 — Many condo associations have rental restrictions
1:35 — Renting out your condo can drive down your property’s sales price
1:50 — The condo association typically takes care of the maintenance of the condo building
2:31 — There is typically a monthly condo fee you’ll have to pay
2:56 — What you own when you buy a condo
3:42 — Learn the scope of your ownership and responsibilities
3:57 — A Wisconsin law when buying a condo
5:52 — Wrapping up
If you need more details about this topic or have any real estate concerns, don’t hesitate to call or email me. I’ll be happy to help!
Located in the highly-rated Coventry Village on the West side of Madison, 7804 Courtyard Drive is the perfect home for someone ready to step into an active senior living community. The open concept floor plan showcases a great room with vaulted ceilings upon entry to the house, a three season room featuring a solar light and a screen door leading out to the back garden/patio, and ample storage space throughout the house. The master bedroom’s spacious walk-in closet as well as direct access to the roomy master bath make it its own, private suite.
Some additional free perks of owning this condominium in Coventry Village include a communal dining area with continental breakfast, unlimited fitness center access featuring a sauna, library and computer centers, shared lounge with fireplaces, educational programs, and community activities. A few of the services available at a charge include lunch and dinner in the dining area, dry cleaning services, personal transportation, salon services, and housekeeping services.
If you’d like more information on 7804 Courtyard Drive, click here.
Learn more about Coventry Village.
Middleton – Cross Plains Area School District
Well maintained, 3 bedroom open concept condo in an unbeatable location! Within walking distance of everything Hilldale has to offer: shops, restaurants, Target, Metcalfe’s, Sundance theater, and more! Convenient to UW, hospitals, and the bus line. Kitchen includes newer appliances and an island, plus a dining area. Other features: plenty of cabinets and closet space, in-unit laundry, and a balcony. Heat, hot water, and an off-street parking space included in condo fee!
Beautiful, move-in ready condo on the waterfront at Mariners Cove! Low town of Westport taxes! This open concept unit features fresh paint, a gas fireplace in the living room, and a relaxing waterfront view from the private porch. Updated kitchen with newer matching refrigerator, microwave & range/oven, plus a huge pantry. French doors open to spacious bedroom with 2 closets and a master bath with double vanity & jetted tub. Boat slip included with new docks less than 2 years old. This unit comes with a one-car garage which has convenient access to your boat slip. Condo fees include: Indoor & outdoor pools, indoor and outdoor hot tubs, a weight room, a sauna, a club house with free access, basketball court/tennis court & much more!Highly sought after Waunakee Schools and 10 minutes to the airport.Walk to Nau-Ti-Gal and Mariner’s Inn restaurants.
Private entry townhome in peaceful, tree lined location, yet very convenient to West side shopping, parks, bus route, and Epic! This unit features a spacious and open living area with tons of natural light, hardwood floors on the main level, and a private full bath for each of the bedrooms- a unique feature for Westchester condos! Laundry in unit, 2 car attached garage, and plenty of storage space in the basement (or could be easily finished). Low condo fees and taxes!
THE COVE CONDOS! Spacious west end 2 bedroom corner unit with stunning lake views from all rooms! Enjoy the peaceful setting surrounded by woods and nature trails, yet still very convenient to the city. This entire unit was completely updated in the last 5 years; granite counters, high-end appliances and cabinets in the kitchen, bamboo flooring throughout, and more! Boat slip included. Parking space is located on the same level as unit. Don’t miss out on this amazing opportunity!
Fantastic location! Close to almost everything! Epic, Ice Age trail, many grocery/convenience stores, restaurants and much more! Too many amazing features to list! Screened-in porch that looks out over a serene wooded area; extra-large 2 car attached garage w/ bonus storage room; private entrance; gas fireplace; private laundry; large jacuzzi tub in the mstr bath; beautiful built-in bookshelves in the loft; large, open kitchen w/ lots of counter and storage space. All windows just replaced last year block road noise and makes for manageable heating and cooling costs. Great for entertaining!
Peaceful half-duplex in Coventry Village located on 22 scenic acres, on Madison’s west side. You will feel right at home in your open concept great room, with vaulted ceilings, and gas fireplace. Walk out from your great room to your private and quiet patio. Large master bedroom features spacious walk-in closet and master bath. Washer/Dryer included and conveniently located a few steps away from both bedrooms, on the main floor. Updated kitchen with granite countertops and new sink in 2016. New carpet, and fresh neutral colored paint, throughout the home! Large basement allows plenty of room for storage and can easily be finished, or as an incredible play area for visiting family. Services and amenities include complimentary Continental breakfast, Happy Hours, events, programs, and seminars. No life-lease, no entry fee, Step care. Live independently while upgrading your lifestyle.
We will be contacting you shortly with information about your home.