Home Buying in Camp Hill>Question Details

Stephanie Br…, Home Buyer in Camp Hill, PA

What are the advantages/ disadvantages of buying a condo?

Asked by Stephanie Brothers, Camp Hill, PA Fri Mar 29, 2013

After you pay off your mortgage you still have a monthly fee to pay to the association... is it worth it?

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Hi Stephanie,
Information you already received is great. Another thing to add is some of these HOA and condo communities are not FHA approved either, so you can knock out alot of first time home buyers or buyers with little money down. Also with so many condos and town homes still being built re-sale can be tough sometimes.
0 votes Thank Flag Link Tue Jun 11, 2013
Condos may keep you from not having to worry about outside yard, sidewalk, driveway & parking work. Some even cover the entire outside of the building so far as repairs. Of course you will have to pay a monthly fee for these things to be taken care of. On the down side, you may difficulty on a future resale should enough other condo owners in the same complex decide to rent their units rather than to live in them. Once a certain number become rentals financing / mortgages can be difficult to secure. You should talk to a Realtor in your area as each condo complex or building will typically have its own set of rules, guidelines and fees involved.
0 votes Thank Flag Link Fri Mar 29, 2013
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