B & B Real Estate | Holyoke Real Estate, South Hadley Real Estate, Northampton Real Estate


Believe it or not, buying a condo can be a quick, easy process, particularly for those who understand their homebuying needs.

Ultimately, there are several factors to consider before you purchase a condo, including:

1. Your Budget

How much can you afford to spend on a condo? You should evaluate your homebuying budget closely to ensure you can cover all of the costs associated with condo living.

Getting pre-approved for a mortgage usually is ideal. With a mortgage in hand, you can browse a wide range of condos and find one that matches your budget perfectly.

Furthermore, don't forget to account for homeowners' association (HOA) fees before you buy a condo. HOA fees will vary depending on the condo community, and you should learn about them in advance so you can budget accordingly.

2. Property Size and Location

How much space do you need to accommodate your family? Consider the short- and long-term ramifications of a condo purchase, and you should have no trouble finding a condo that is the right size for you.

If you're uncertain about how big of a condo that you'll need, don't hesitate to consult with a real estate agent. This housing market expert will learn about your homebuying needs and help you narrow your search for the ideal condo.

Also, be sure to consider the location of a condo. If you want to find a place to live near school or work, you should search for condos that will help you cut down on your commute time.

3. Condo Rules and Regulations

Condo living is different from living in a traditional house. In a condo community, you'll have your own property, but there may be numerous condo rules and regulations in place that you'll need to follow at all times.

For example, many condo owners cannot modify a property's exterior without first getting approval from an HOA board. This means if you want to paint your condo bright pink or upgrade the property's windows, you'll need to ask the HOA board for permission.

Examine a condo community's rules and regulations prior to purchasing a condo. This will enable you to review the HOA board's mandates and determine whether you would feel comfortable following these rules and regulations.

When it comes to finding a condo, there is no need to look for a property on your own. Conversely, if you work with a real estate agent, you can take the guesswork out of searching for a top-notch condo.

Finding a real estate agent with condo experience is essential. This real estate professional will set up condo showings, keep you informed about new condos as they become available and negotiate with property sellers on your behalf. That way, this real estate agent will make it easy for you to acquire a first-rate condo at a budget-friendly price.

Kick off your search for the perfect condo today, and you can move closer to securing a condo that will serve you well for an extended period of time.


This Condo in Holyoke, MA recently sold for $128,750. This Garden style home was sold by Office Holyoke - B & B Real Estate.


40 Saint Kolbe Dr, Holyoke, MA 01040

Condo

$125,000
Price
$128,750
Sale Price

4
Rooms
2
Beds
1
Baths
Looking for simple living at a reasonable price, then you have found home. This 2 bedroom 1st floor condo has everything you need! Fully applianced kitchen with newer hardwood flooring and wall to wall carpeting. Plenty of closet space and additional secured storage in basement with coin operated laundry facilities. Walkways with river views. Conveniently located to highways, shopping and restaurants. Great alternative to renting with todays low interest rates. Easy to show.

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40 Saint Kolbe Dr, Holyoke, MA 01040

Condo

$125,000
Price

4
Rooms
2
Beds
1
Baths
Looking for simple living at a reasonable price, then you have found home. This 2 bedroom 1st floor condo has everything you need! Fully applianced kitchen with newer hardwood flooring and wall to wall carpeting. Plenty of closet space and additional secured storage in basement with coin operated laundry facilities. Walkways with river views. Conveniently located to highways, shopping and restaurants. Great alternative to renting with todays low interest rates. Easy to show.
Open House
No scheduled Open Houses

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Photo by Pixabay via Pexels

When it comes to home ownership, you have many options beyond buying a single-family home. A condominium and a townhouse are two such options. Before you consider making one of these your permanent home, it's important to understand the differences between them.

Condo Ownership

When you purchase a condo, you own the entire inside of the structure. The condo association owns the exterior, all common areas, and the land where the condo sits. Condo owners are not responsible for exterior maintenance. However, you need to budget for condominium association fees apart from your monthly mortgage payment. This covers the cost of repairs and maintenance in common areas. Most condos are in multi-story buildings.

Townhouse Ownership

When buying a townhouse in a traditional manner, you must pay dues to its homeowner's association. This fee goes toward outdoor maintenance, such as mowing the lawn and shoveling snow. Your fee may also include landscaping services. Townhomes typically appear as conjoined single-family homes.

If you choose to purchase a townhouse in a non-traditional manner, you own the land it sits on as well as the physical structure of the home. This means you are responsible for repairs and maintenance both inside and outside of your townhome. The association that owns a townhouse complex is only responsible for communal repairs such as potholes on the street.

Financial Considerations

You can't deduct homeowner's dues if either type of property is your primary or secondary home. The only exception to this is if you rent it to others. If you occupy the condo or townhouse, you can deduct real estate taxes and mortgage interest if you itemize deductions on your tax return. If you plan to use the condo as a second home and rent it the remainder of the time, make sure that you occupy it less than 10 percent of the time that you rent it. If you don't, the IRS considers it personal property.

The non-mortgage fees for a condo are almost always higher than they are for a townhouse. This is due to more shared areas and additional amenities that most townhomes don't have. These may include a swimming pool, a recreation room, or an area on the roof to suntan or host a barbeque for your neighbors. These amenities all carry an additional risk, which necessitates the need for additional insurance coverage.

The property taxes and initial down payment are typically higher for condos as well. Even so, some people prefer a condo over a townhouse because they feel that not being at street level offers them better security.

If you’re in the market for a non-traditional home, feel free to schedule a consultation. We'll go over your options and find the best home to suit your needs.


This Condo in Holyoke, MA recently sold for $99,900. This Garden style home was sold by Office Holyoke - B & B Real Estate.


53 Saint Kolbe Dr, Holyoke, MA 01040

Condo

$99,500
Price
$99,900
Sale Price

3
Rooms
1
Beds
1
Baths
One level living at it’s finest! This is the only unit in the complex with its own entrance and laundry inside the unit! This cute and clean condo is ready for you to call home! Hardwood floors flow throughout the whole unit. The kitchen has all stainless steel appliances. The updated bathroom has tile floors and beautiful vanity. The spacious master bedroom has a big picture window and huge walk in closet! Assigned storage unit in basement too! Dogs under 50lbs, cats and birds are allowed! (See Rules & Regs Attached) Easy to show! Schedule your private showing today!

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