10 Tips for buying a condo

10 Tips for buying a condo

Buying a condo in Santa Monica can be a rewarding investment, given the area's desirable location and vibrant lifestyle. Here are ten tips from the Kelley/Westbrook Group to help you navigate the process:

1. Understand Your Budget:
   - Before starting your search, determine your budget, including the purchase price, HOA fees, property taxes, and any potential renovations.

2. Get Pre-Approved for a Mortgage:
   - Secure pre-approval for a mortgage to understand your buying power and show sellers that you're a serious buyer.

3. Research the Neighborhood:
   - Santa Monica has diverse neighborhoods, each with its own character. Spend time in areas you're interested in to find the one that best fits your lifestyle.

4. Check HOA Rules and Fees:
   - Homeowners' associations (HOAs) manage many condos. Review their rules, regulations, and fees to ensure they align with your needs and budget.

5. Consider Future Resale Value:
   - Look at market trends in Santa Monica to gauge potential resale value. Popular amenities and proximity to attractions can impact future value.

6. Inspect the Condo and Building:
   - Hire a professional inspector to assess the condition of the condo and the overall building, including common areas and facilities.

7. Evaluate Amenities:
   - Consider the amenities offered by the condo, such as parking, gyms, pools, and security. Determine which are essential for your lifestyle.

8. Understand the Commute:
   - Factor in your commute to work, school, or other daily destinations. Santa Monica traffic can be busy, so proximity to major routes and public transport is important.

9. Review the Condo Association’s Financial Health:
   - Ensure the condo association is financially healthy by reviewing their budget, reserve funds, and any upcoming assessments for major repairs.

10. Work with Experienced Real Estate Agents:
    - Partner with experienced agents like the Kelley/Westbrook Group who specialize in the Santa Monica area. Their local knowledge and expertise can guide you through the process smoothly.

By following these tips, you can make a well-informed decision and find the perfect condo in Santa Monica that meets your needs and preferences.

10 Tips for buying a condo
10 Tips for buying a condo


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