Massachusetts Real Estate- Merrimack Valley
Real Estate in Essex and Northern Middlesex Counties, Massachusetts
Buying a condominium is a little different than a single family home. Of course you have the unit you are considering purchasing. But there are now other things to consider when purchasing a condo. You have the governing of the condominium complex, the financial stability, who owns what, who repairs what..... the list goes on. Because you have shared ownership when buying a condominium, you have to consider aspects of the entire condominium complex as a whole above and … Continue reading...
Condominiums are certainly popular in the greater Boston real estate market. And for some home buyers, buying a condominium can be a great choice. In last week's article I discussed some great reasons why a condominium may be a good choice for a home buyer. But this week we will look at the other side of the coin of why you should not buy a condominium. Last week's article discussed that a condominium purchase is generally cheaper than buying a comparable single family home as … Continue reading...
Is Living in a Condo Right for You? Condominiums have come along way since the 80's. While the concept of condos were new and approached with hesitation back then, condos are now a stable, viable source of housing in today's real estate market. Condominiums come in all shapes and sizes. You can get a unit all on one floor, a townhouse with no one living below or above you, stand alone units, a condominium in an over 55 community, a luxury condo, condos that cater to weekend get … Continue reading...
Condominiums are becoming more and more popular for home buyers. The cost is generally lower than a single family home and much of the maintenance is usually taken care of by the home owner's association. Your condominium is a bigger part of a whole and their is a legal structure behind it as well that needs to be governed as people are brought together in ownership. So when you buy a condominium there is a whole set of language that may be new to you. The article … Continue reading...
427 Farrwood Drive, Haverhill MA 01835- MLS# 71920123 Price: $191,000 Living Area: 1645 Bedrooms: 2 Baths: 2 full 427 Farrwood Drive Haverhill MA 01835 is located in the Farrwood Greens Condominiums. Farrwood Greens has always been a popular choice for many condominium buyers in Haverhill MA. It is an affordable complex that offers a lot of space for the money, located of 125 on the North Andover/ Haverhill MA line. It is just minutes to route … Continue reading...
Selling a condo is slightly different then selling a single family home. Often times owners of condominiums forget that when selling their condo they are not only selling the condominium unit itself but they are also selling a percentage share of the condominium complex itself. When a potential homeowner is considering purchasing your condominium they will want to understand the overall financial health of the condominium association, so they know what to expect financially in the … Continue reading...
A question just cam up on Trulia... What does lower owner occupancy mean and why would a 20% requirement down be needed? What is owner occupancy ratio? The owner occupancy ratio is a term you see when purchasing a condominium. Most lenders require a homeowners questionnaire to be filled out asking many questions about the entire condominium project before lending on a condominium. The owner occupancy ratio is the percentage of the units that are occupied by the owner versus the percentage … Continue reading...
