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Do’s and Don’t’s of Condo Buying

August 18th, 2014

With the plethora of condos available in the Triangle, it may be tempting to buy one as a primary residence or even as a second home. There are shiny new condos and old mills turned into charming abodes and everything in between.

There was a great article in the News and Observer recently by Ellen James Martin with some purchasing pointers.

Choose a condo where you want to live – do you want to walk to work? To the grocery and wine shops? Is there activity nearby day and night?

Is an older building well maintained? Will there be any assessments for large maintenance projects in the near future?

How loud is your life? Do you play a musical instrument? How loud are the lives of fellow condo owners? Is there sufficient soundproofing?

Read and understand the condo rules before you buy. Will you be able to rent your unit in the future if you have to move quickly?

How are the condo finances? Ask for a copy of the homeowners’ meeting minutes and financials.

How about looking at a good mix of “old” and new? Bloomsbury Estates condos in Raleigh is a newer building built in the Second Empire Style with lusciously modern interiors, not to mention great views. The Cotton Mill in Raleigh is another that mixes the old charm of a former cotton mill (brick, exposed beams, high ceilings) with modern amenities.

Durham boasts some amazing historic-building-turned-condos too such as the Durham Kress and a bunch of new construction condos are available.

Drop the Mission Possible Team a line for a personal tour of the many units currently for sale.