Condos For Sale In Livonia MI
Welcome to the most up to date resource to find condos for sale in Livonia MI. This site is updated every 20 minutes with all new Livonia condos for sale, and as well any condos that have accepted offers are taken off immediately. The integrity of our data is extremely important to our team and I'm sure it will show though our entire website.
Livonia Condos For Sale
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Additional Information on Condos for Sale in Livonia MI
Purchasing one of the condos for sale in Livonia MI can be either an adventure or a disaster. Our goal on The Perna Team is to represent all of our clients purchasing Livonia condos for sale have a smooth transaction with no surprises, and we work very hard to that end. This information below will serve as a base layer of information to arm yourself with if you're considering purchasing one of the condos for sale in Livonia MI.
The first question you must ask yourself is should I buy a condo or a house?
Livonia condos for sale are very different from Livonia homes for sale. With a R1 residential you have the freedom to make many external that are not allowed in condo complexes. That's only the beginning. When shopping for a condo be sure to procure a copy of the bylaws and financial statements before the closing with ample time to review them. A Perna Team Realtor will not only get this for you but protect your right to walk away from the transaction if you there are restrictions in the bylaws you don't like. As an example there are several (not many but they are out there) associations that cap the number of or size of pets. Also there are a more and more associations after the down turn with low reserves and they're now having to assess the condo owners thousands of dollars for upcoming repair and replacement projects (new roofs, road work etc). These all are factors on whether a condo is the right purchase or a house is.
Is there any ongoing Litigation: A must ask question to ask when purchasing a condo for sale in Livonia MI is "is there any ongoing Litigation". By law associations have to disclose if there is or is not, though they don't have to disclose exactly what litigation is ongoing. Most complexes carry insurance against lawsuits, however some do not, and in all cases lawsuits affect the mortgageability of a condo. In other words, if there's a lawsuit going on, banks don't want any part of it.
Can I have a minute with the Minutes please?: The last great question to ask that's not one of the typical we hear is, may I review the minutes from the last association meeting. All speakers are recorded and archived. Some complexes are moving to digital minutes. However for now all in our area are still transposing notes and recordings. The minutes will tell you if there are any ongoing maintenance issues, slow repair complaints by co-owners, or anything else of relevance that you need to know.
As we get past all of the potential pitfalls of buying a condo, the benefits of buying a condo are substantial. The obvious ones are no yard maintenance, negotiated services (condos are much larger accounts than individual owners so laws services are less per owner), and having a consistent look and feel to the complex. No one can paint their exteriors off the wall colors. There are a few other benefits that are not as apparent.
Lower Insurance Costs: Homeowners insurance is not needed in condos, only contents insurance. In Michigan condo complexes are required to carry a master policy of insurance covering the complex. This also is at a lower per owner rate because of the size of it, and also this is included in your association dues.
Inherent Neighborhood Security: Because of the close proximity and the "small town" effect of many complexes crime in condos for sale in Livonia MI averages 40% per complex. This is as per the U.S. News. In some complexes (depending on setup) one can see up to 30 other units at a glance and it becomes very apparent very quick if there's something amiss.
Buying a condo is no small affair. There are many important aspects to consider that you don’t have to worry about with single family homes. This is why it’s important to go into the process knowing what to look for, and what to ask.
Have any of you ever thought about buying a condo? Or, do you already own one? Which questions do you wish you had asked before you bought?