Charlottesville condos at Arlington Court,
Turtle Creek, Walkers Square, River Bend, Forest Lakes, Hollymead Square, Hessian Hills and everywhere else around
Any Link Below To View:
Charlottesville Condos By Price
Charlottesville Condos from $80,000 to $199,999
Condominiums in Charlottesville from $200,000 to
Charlottesville Condo from $300,000 to $399,999
in Charlottesville Va from $400,000 to $599,999
Charlottesville Condos from $600,000 and up
Albemarle County Condos
Hollymead Condos at Forest Lakes
The Cottages at
The Woodlands of
Charlottesville Condos By
Jefferson Park Ave Condos
Run Condos at Pen Park
at Southern Ridge
If your version of the American dream doesn't include mowing the lawn, think about buying a Charlotteville
condo. Good options for both first-time home buyers and older folks who are ready to downsize, most affordable
Charlottesville condos are typically smaller and less expensive than a single family home, and can include
attractive amenities as part of a home owners association (HOA), such as pools and fitness facilities.
Think about how long you're going to stay in one place. Buying a Charlottesville condo is no different than
buying a single-family home--you need to live there at least a couple of years to recoup closing costs, assuming
the property will appreciate.
Give some thought to what you want. If you're not interested in the pool or sauna, understand that the condo's
price and ongoing monthly association fees will reflect their use regardless of your interest in swimming or
sweating. Visit various Charlottesville condominium or Charlottesville townhouse communities so you know what's
available where you live.
This way you'll get a good sense of prevailing prices. Request a market analysis from one of our Charlottesville
condo agents regarding the selling prices of condos in the building or area.
Check the price appreciation on the market analysis to evaluate how quickly the condos are increasing in value;
subtract the selling price from the purchase price and divide by the number of years the property has been held by
the previous owner for a ballpark estimate of annual appreciation, if any (varies from state to state and place to
place), in the neighborhood.
Get prequalified for a mortgage.
Find out if the building has a good reputation. Ask current residents how often repairs and maintenance are
required, and how good the soundproofing is between units. Check out parking, storage, security and other
amenities. Ask to see the minutes from a recent meeting of the home owners association (HOA).
Find out what the hot issues are and if members are fighting tooth and nail. You may want to keep looking--
nobody wants to live where neighbors are at each others throats. Ask how large the HOA's reserve funds (used to pay
for maintenance and emergency repairs on the building) are. The larger the reserve, the less a chance of an
assessment or one-time payment to chip in for an unexpected expense.
The smaller the reserve, the greater the chance you'll be billed for an assessment in the near future. Some
states require periodic updates of reserves to be published to HOA members.
Check the HOA's history of assessments to see how many have been made in the past 10 years and how large they
have been. This information will help you gauge how likely it is that you'll be assessed in the near future, and
indicate how well-managed the building is. Better managed buildings make fewer assessments.
Talk to other members and find out how restrictive your HOA is. For instance, some buildings even dictate what
sort of holiday lighting you can put up. Request the same information as you would for buying a house. Read the
CC&Rs (covenants, conditions and restrictions). Budget in association dues, which are above and beyond your
monthly mortgage payment.
To assist in long-term financial planning, ask the condo association whether association fees have increased in
recent years. Also estimate monthly maintenance costs that you're responsible for in addition to the association
fees. Make an offer and close on the deal and LIVE!
Email us about Charlottesville
* A Charlottesville 55+