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!

The Latest Headlines

Union Square San Diego Market Updates

Union Square – Market Updates In the East Village between Broadway Avenue, C Street and 14th and 15th Avenues is Union Square, a mixed-use development featuring 262 condominiums located in three buildings.......

read more

What Are Loan Requirements for Condos?

Modern living has brought forth all the perks of a condo lifestyle. If you’re on the lookout for properties in San Diego, CA, Acqua Vista, or condos for sale in the region,......

read more

Bella Via San Diego Market Updates

Bella Via – Market Updates Bella Via is a 42-unit, 6-story condominium project located at the corner of India and Cedar Streets in the heart of Little Italy. Completed in 2004, Bella......

read more

Your Guide to the Mortgage Pre-Approval Process 

Whether as a first-time buyer or as an investment property, purchasing a condominium is a great way to enter the housing market. Its flexibility, convenient amenities, low maintenance, and affordability are just......

read more

5 Red Flags When Buying a Condo

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......

read more

Closing Costs Assocation with your Downtown San Diego Home Purchase

“Closing costs are often the last thing a person thinks of when buying a Condo. While closing is the joyous moment the downtown condo becomes yours, the costs can be surprisingly aggravating.......

read more

10 Easy Ways to Pay Off Your Mortgage Faster

A mortgage is likely one of the largest expenses you’ll ever have. However, that doesn’t mean you can’t manage it and pay it off as quickly as possible. If you’re like most......

read more

Your In-Depth Guide to Condo Fees

If you’ve been considering purchasing a condo unit, you must have come across mentions of condo fees. Although it’s common knowledge that condo maintenance bills come at a lower price compared to......

read more

Downtown San Diego April 2013 Events

April 6th ACT Today 5K Participants can choose between a 5K or 10K run, or, for kids, a 1-mile fun run. event All proceeds go to providing treatment for the children of......

read more

Downtown San Diego December 2014 Events

Legoland Snowdays Dec. 1 – 31 Come build Holiday memories during the month of December at LEGOLAND California Resort. Play in real snow, build snowmen and throw snowballs at LEGO targets. See......

read more

Get Listings and Articles Delivered Straight to your inbox

  • This field is for validation purposes and should be left unchanged.