If there’s a leak or something to that extent the they take care of the right? That’s what the fees are for correct? Also, do you think with covid and everything that’s happening now, we’ll see a drop in prices?
A condo fee covers the roof, building insurance and I believe anything from the drywall out (usually anyway), so they would cover certain types of leaks. For instance, a leak inside the wall, they should cover, but a kitchen sink leak or a toilet leak, no. Condos are a little trickier to sell due to limited financing available, but they still sell. There is so much demand right now for every type of property...hard to say what’s going to happen. The only impact I see is more demand for property in FL, so prices have stayed steady.
This video was over a year ago so I’m not sure if things have changed. At the end you said you would need 20-25% down. With the FHA I was told I only need 3.5% down…so how does the FHA loan factor in?
condo buying is tough. I would love to buy a condo in orlando, kissimmee, or melbourne...but with the hoa or condo association fee and the taxes, and the homeowner insurance, and sometimes a "special assessment fee"....its just tough...any condos in orlando without any fees or homeowner insurance or taxes required.
Condos will all have condo fees, since the outside out the building is maintained by the association, as are the amenities and grounds. Homeowners insurance is required by lenders, so you can avoid it if you pay cash. I’m afraid you won’t find any without property taxes.
I think you mean to say “stacked vertically“
I bet you’re right!
Shes spot on.
Thanks!
Great video. Brought to light questions that I never thought to ask. Thanks,
Glad it was helpful!
If there’s a leak or something to that extent the they take care of the right? That’s what the fees are for correct? Also, do you think with covid and everything that’s happening now, we’ll see a drop in prices?
A condo fee covers the roof, building insurance and I believe anything from the drywall out (usually anyway), so they would cover certain types of leaks. For instance, a leak inside the wall, they should cover, but a kitchen sink leak or a toilet leak, no. Condos are a little trickier to sell due to limited financing available, but they still sell. There is so much demand right now for every type of property...hard to say what’s going to happen. The only impact I see is more demand for property in FL, so prices have stayed steady.
Love this video
This video was over a year ago so I’m not sure if things have changed. At the end you said you would need 20-25% down. With the FHA I was told I only need 3.5% down…so how does the FHA loan factor in?
Make sure you are speaking to your lender about buying a condo. Most condos do not qualify for FHA financing.
condo buying is tough. I would love to buy a condo in orlando, kissimmee, or melbourne...but with the hoa or condo association fee and the taxes, and the homeowner insurance, and sometimes a "special assessment fee"....its just tough...any condos in orlando without any fees or homeowner insurance or taxes required.
Condos will all have condo fees, since the outside out the building is maintained by the association, as are the amenities and grounds. Homeowners insurance is required by lenders, so you can avoid it if you pay cash. I’m afraid you won’t find any without property taxes.
NEED KEEP LOWLIFES OUT