5 Red Flags When Buying a Condo

November 17th, 2020

A house hunting process is often long and arduous, as it is notoriously difficult to find a home which fits all of your requirements. This is why many buyers of San Diego condos feel the impulse to jump at the first reasonable offer once it finally presents itself. However, if you’re a prospective buyer, don’t be in a hurry to put your guard down.

Purchasing a home is a huge decision, with far-reaching consequences and a significant impact on your life. Therefore, double-check everything before you commit. Continue reading to learn what you should beware of when viewing a condo and how to see through all marketing ploys. Only then will you be totally at ease when you eventually make an offer.
What to look out for when buying a condo

What to look out for when buying a condo?

Do you think you’ve finally found the perfect home? Don’t be in such a hurry to make your down payment, though. Apart from thinking about what features your new house needs to have, you also need to consider the tricks some sellers use when putting their property up for sale. Even when everything seems to be just like you imagined, there may be problems lurking under the surface.

Here is a checklist of warning signs that condo buyers shouldn’t ignore:

The condition of the common areas

Sharing certain common areas with other unit owners comes with being a condo resident. Apart from knowing what to look for in your neighborhood, it’s important to check these amenities.  If they are unhygienic, poorly kept or you notice several items that need repairing, it may mean that the condo isn’t managed well. This could pose problems for you down the line.

The seller doesn’t want an inspection

If the owner of your potential home refuses an inspection of the property, it is a major giveaway of shady business. Never seal the deal on a home without having an inspector take a look and assess its true condition. Find out what is checked as part of a condo inspection.

Disguised malfunctions

Your alarm bell should start to ring if you notice a fresh coat of paint on the walls, as it may be a way to hide cracks or mold. Faulty plumbing or electrical installations may not be easy to notice without having lived in a place for some time. Go to the homeowners’ association (HOA) meeting to learn more or ask the neighbors about the most common issues they’ve experienced.

Ownership history

Has the condo changed hands one time too many? This is usually a telltale sign that the previous owners weren’t happy living there, and neither will you. If nobody has stuck around for more than a couple of years, there is probably an underlying issue which made former residents jump ship.

Many units are for sale

You should be at least a little suspicious about the particular condominium if quite a few of the neighbors are advertising their property for sale. Although it does provide buyers with a good choice of condos to consider, be extra careful if this is the case. If the prices are also uncommonly low, the chances are you should avoid it.

Where can buyers find San Diego’s best condos

Where can buyers find San Diego’s best condos?

Would you love to move into a modern condo in Hillcrest, San Diego but you require some assistance with your property purchase? Contact Neuman & Neuman, the real estate business you can trust. With almost 40 years of experience in real estate, we know the market through and through.

When you need expert guidance while seeking out your future home, our team will have the answers. Reach out to us and get the latest scoop on San Diego real estate. We will use our finely honed skills to help you make a wise and successful investment, just like we’ve done more than 6500 times before. We’ll make sure that your home truly is your castle!

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