4 Rules to Remember When You Buy Your Boca Raton Condo
If you’re a first time buyer and you’re thinking about purchasing a Boca Raton condo, you’ll find that they are available across all price ranges. While a condo is likely to require a larger down payment than a single family home in Boca Raton, you may find the benefits of owning a condo well worth that initial expenditure.
Among the benefits typically provided by your Boca Raton condo are a lack of outside maintenance expense, no worries about the cost of replacing your home’s roof, an end to expensive monthly wind insurance payments, and no more water bills. However, there are 4 basic rules to keep in mind if you decide a Boca Raton condo will be your preferred residence.
1. Use your inside voice.
Typically, your Boca Raton condo will require that noise levels be kept to a minimum after certain hours of the evening and until the morning. This aspect of living is known as “quiet enjoyment.” It is a rule you have probably noted in an apartment lease, if you have ever rented. This rule will apply not just to general living, but also to the occasional party you might have. Rowdy friends can scream and shout until the designated time (usually 9 or 10 o’clock PM). But after that they have to put themselves on vibrate.
2. Garage space is only good for parking.
Unlike single family homes in Boca Raton, where garages often turn into storage units, your Boca Raton condo garage space may be used only for parking. If you’re a pack rat and you’re planning to purchase a Boca Raton condo, plan ahead: hold a garage sale (even if you don’t yet have a garage) or a yard sale, or just get rid of anything you haven’t used for the last 6 months. This may be your chance to make a large, charitable donation of clothing, furniture, dishes, and other useful items.
3. Pets are not welcome at most condos.
While there are a few Boca Raton condo buildings that are pet friendly, they are few and far between. That pet ban applies equally at all price levels. Yes, if you search long and hard enough, you will find a pet friendly condo, (and we can help you), but your choices will be very limited. If you find a pet friendly Boca Raton condo, you will typically find that the number of pets is strictly limited, most of the time to one pet, and a weight limit may be strictly imposed. If you already have a pet, you may want to reconsider your choice of a Boca Raton condo. If you don’t yet have a pet but hope to have one later on, you may have to postpone that decision until you have sold your Boca Raton condo.
4. Be careful of the “investment condo” concept.
Too many people buy a Boca Raton condo with the idea that they can rent it immediately; or that after they move they can rent the condo to create an ongoing income. When you buy a condo, ask your Boca Raton real estate agent to verify the rental guidelines.
In rare cases, you can rent your Boca Raton condo immediately. However, more and more condo boards are creating rental restrictions. Those restrictions may last for only a year, but they may be as long as 3 years. Other boards will allow rentals only on an every other year basis. While this may seem like punishment to some, condo boards believe that these restrictions help to maintain values for residents.
Before you buy a condo, ask your Boca Raton real estate agent to check all the facts and figures for the building. Make sure you know everything you need to about the Boca Raton condo you have in mind. Once you know that it will work for you in terms of location, price, and convenience, then buy it and enjoy it.
Marc Jablon, the Jablon Team
Re/Max Complete Solutons