Up and down the Front Range between Fort Collins and Boulder there are many new residential areas. These areas look like single family homes but quite a few are Modern Condo’s. Traditional thoughts on condo’s are multi-family units that are stacked and that lack curb appeal. Condo’s have grown statue and structure and can now fool a casual looker from the outside. Many look like family homes but they are indeed condos. Here are some reasons why you may or may not want to buy a condo.
Size Doesn’t Matter
It used to be that condo’s were only considered for singles, couples, roommates, and very small families. That is no longer the case. If you have the opportunity to step inside a modern condo you may be surprised with the look and feel. Builders have become savvy, and the demand for condo’s that feel more like homes has happened. Condo’s can now be used as family sized homes from start to finish. Size no longer matters. What does matter, is not what is inside the condo, but what buying a condo means.
Know the CCR’s
When buying a condo you are almost buying into a HOA – Home Owners Association. However, the developer of the condo complex can have more than just a covenant of laws and rules, it can have Covenant, Codes, and Restrictions. These can be a bit more complicated than an HOA and need to be looked at before buying. Sometimes, these CCR’s are kept quiet among non-owners, but try and get your Agent to see how the Association is doing financially. When buying a condo it can be considered a business venture with your neighbors. You want to know how it is doing before committing yourself to the team.
Make sure you understand what can and can’t be done. Maintenance and outside appearance are in the CCR’s. Make sure that you can follow and abide by what rules set before committing to the purchase. Some people find it well appointed and can easily live within the set structure. Others, however, want more freedom with a piece of property they own.
Give condo’s a chance and see what they are about. Again, many are no longer the square multiple unit boxes associated with builds of yesteryear. Or, even if they are square they have a modern look and feel to them that is appealing to the eye. Many places look like homes or townhouse homes, are actually condo’s. Talk with your C3 Agent to find out more about condo’s in the area and if it might be the right, alternative, fit for you.