There are many reasons for wanting to downsize or simplify your housing situation. Life transitions such as kids moving away to college, retirement, divorce, changes in financial situation, physical limitations, desire for more time to enjoy life, and less time and money spent on keeping up a larger home.
Some of the most common reasons for wanting to downsize are:
Deciding to downsize from your current home can naturally carry with it some anxieties. You're changing your way of life as you knew it, and that can bring on some challenges. On the other hand, this life transition will open new doors and opportunities. In all the excitement, there are several steps you need to take in order to successfully sell your home with minimal hassle and stress.
If you want to make the most of your next big move, here are some things to remember for a seamless, happy life transition:
So you've thought about it and decided that your next home should be a condo? Here's why that could be a good idea for you — and where it could potentially go wrong:
If you've weighed your options and decided to downsize to a condo over a single-family home but don't know where to start, you're not alone. Transitioning from being a homeowner with land and certain responsibilities — and privileges — to living amongst others in a close, community space can be daunting. Here are some questions to ask when buying your first condo in Boston:
What is the assessment of the building’s remaining useful life and of its systems? Are there any independent reports available to review?
What is the condo/HOA fee and what is included?
Are there any upcoming special assessments? Has an independent audit been done with regard to future required repairs and renovations to the building?
What does the master insurance policy cover?
Is there parking assigned to each unit or available for lease/purchase? Are there spaces for visitors?
What are the qualifications to run for the condo board? How and how often are elections held? Are there term limits for officers and how long is a term of service?
What renovations and modifications to units are allowed?
Are pets allowed and under what conditions?
Are sublets permissible? What percentage of the building is owner-occupied?
Is it possible to speak to current owners/residents?
Best practice: Engage a real estate attorney to review all documents related to the purchase of a condo.
Whether you are looking for a single-family house, condo, or investment property, I will help you navigate the current market to find the place you can call home.
Whether buying or selling, I will work relentlessly on your behalf to achieve your real estate goals. Contact me today to find out how I can be of assistance to you!