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Ann, Home Seller in Easthampton, MA

How to research before buying a Condo in MA including the fees and utilities?

Asked by Ann, Easthampton, MA Tue Jul 17, 2012

Where can I find out how much a condo has charged for condo fees and how often they go up? Is it possible to find out how much the cost of electricity and gas heat will cost per month?

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Answers

5
If you call the utilities with the address and ask for the average annual usage, they will usually give it to you. Then you have to adjust for number of people, ages, personal temp preferences, etc.

Condo association docs can be reviewed - usually a real estate pro will provide these. You can also request info as part of an offer - Subject to review of docs including but not limited to annual fee history - or something like that.
A good pro with experience will help you.

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0 votes Thank Flag Link Sat Jul 21, 2012
Usually, the listing will note what the monthly condo fees are and what they include. Condo fees can include grounds maintenance, snow removal, capital repairs on the outside of the buildings and common areas, and sometimes even your taxes can be covered in the condo fees. It is important to know what you are paying for and what you are getting for that money.
As far as utility costs go, on any home or condo that you are buying, your primary resource is your real estate agent. Your agent will be able to obtain information through the owner, if it is that agent's listing, or through the agent who is listing the property. Most owners are very happy to share that information. It is important to note that utility bills can vary greatly because of habits of use. The less you use, the less you pay.
0 votes Thank Flag Link Tue Jul 17, 2012
Hello Ann,
your realtor should be able to get you this information, how much condo fees are, what they cover and if there are any special assessments currently in place or in the near future. This is typically spelled out in the condo docs. As for the cost of utilities it will vary depending on usage but your agent could always ask if seller could give you an average of what he/she spends but again is all up to usage.

Wen
info@wenrealty.com
Web Reference: http://www.wenrealty.com
0 votes Thank Flag Link Tue Jul 17, 2012
Hi Ann

It would be helpful for you to ask the condo association for a copy of the condo docs. This will let you know what is covered in the association fee. Also ask them when was the last increase in association fees. You can also ask the homeowner what they pay for heat and electricity to get an idea but keep in mind the number of people in the household and that everyone is a little different on how warm or cool they like it.
0 votes Thank Flag Link Tue Jul 17, 2012
For the condo fee information, that should be with the management company. It might also help to reach out to an owner or two for their view
0 votes Thank Flag Link Tue Jul 17, 2012
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