6 Things to Determine Before Purchasing a Waterfront Condo

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A waterfront condo gives you access to the waterfront without having to take care of a big piece of property. You can get a little slice of the waterfront without all the responsibilities of owning a home on the waterfront.

Thing #1: Parking

With a condo, it is important to find out what type of parking comes with the condo. Sometimes, you get an assigned parking space with the purchase of a condo, and other times, you will get a general spot. Sometimes you will not get a parking spot at all; you will have to purchase the parking spot separately from the condo.

Thing #2: Exercise Facilities

The thing about getting a condo is that you generally get additional amenities as well. One of the most common amenities is an exercise facility. Be sure to actually check out the exercise facility and ensure that it isn't just a random room with some outdated equipment in it. Look for a condo with a nice-looking exercise facility you can actually see yourself using; if you are paying for it, you will want to actually use it.

Thing #3: Storage Unit

Another common amenity that could potentially come with your condo is extra storage. Not all condos come with that much built-in storage, and as you don't have a garage or space for a shed outside, getting a storage unit with your condo can be really nice. A storage unit can give you the room you need to put all of your toys and extra decorations.

Thing #4: Patio Space

With a view of the water, you want to be able to enjoy that view. When looking for a condo, you will want to look for one that offers nice patios with the condos. You want to be able to open a sliding glass door, step outside, and feel the breeze from the water and take in the view outside.

You may also want to see what type of community patio space there is. For example, is there a big patio on the roof? If there is a roof patio, can you use it anytime you want, or do you have to reserve it?

Thing #5: Condo Fees

With a condo, you are going to need to find out what the condo association fees are. Literally, every condo is going to charge you fees. The condo association fees are all about taking care of the bigger building. Therefore, you are going to want to ensure that you can afford the association fees, in addition to the mortgage, taxes, and insurance on the property.

Thing #6: Special Assessments 

Finally, be sure to determine if there are any special assessments in place and the condo rules for voting in special assessments. Special assessments are additional or special fees for repairs or projects that fall outside the scope of what is normally covered with the fees.

When it comes to purchasing a waterfront condo, you will want to make sure you get all the details about what comes with the condo and what else you are going to have to pay for, so you can see if it is an excellent deal you are looking for.

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