If you’re considering purchasing a condominium in the Laguna Hills, CA area, you may want to consider if condo living will suit you. There are benefits to condo living, such as an instant social life due to close neighbors.
Some items can be a benefit or a problem depending on your perception, such as the condominium bylaws designed to govern the residents. Financially, purchasing a condo can be a good investment, or it can be a financial strain, depending on your situation. Here are some things to consider if condo living is the right choice for you.
Considering a Condo
If this is your first property purchase, you want to keep in mind the condo association fees and homeowner’s insurance. The condo association fees go towards the condo insurance for the entire property, not just your condo, and helps to pay for fixing things in the community like a broken parking garage gate. Be aware that these fees do not cover your personal property from theft or damage. You will need a homeowner’s policy for your coverage.
Because condos are part of a complex, it brings with it close neighbors and a natural social setting for the person living there. It’s important to find out what type of community there is in the condo complex to know if you will fit in. For example, some have more young people that enjoy parties, and some have more retirees that enjoy peace and quiet. Introduce yourself to few residents as a potential buyer before you make the leap. Not only can you find out what the neighbors are like, but if they enjoy living in the complex.
Contact Friant Insurance Agency
Contact the Friant Insurance Agency to explore your condo insurance policy options in the Laguna Hills, CA area today. Our agents can help answer questions or start a policy.