Looking for a good real estate deal? Condos are the way to go!

Looking for a good real estate deal? Condos are the way to go!

This is the time to jump into the condo market! Single family homes are rapidly increasing in price and many buyers are frustrated because there is no good inventory for sale. You can get a good deal right now as there are many condos to choose from which are at bottom of the market prices.

Here are a few reasons why you should consider a condo.

Condos are usually much less expensive for similar square footage. The main reason is you will not be buying the land on which the complex sits. Condos are often the ideal choice for first time home buyers, people on a tight budget or looking to downsize.

You have fewer responsibilities when it comes to maintenance and repair. When you live in a condo, your common charges typically cover all the exterior and common area maintenance of your building. You can say good bye to shoveling snow and cutting the lawn!

Condominium complexes usually have several amenities, like a pool, club house, tennis courts and private gyms.

There are many popular complexes in Norwalk, here are three located in different parts of town.

Foxboro – built in 1991 is situated on the Wilton town line with a very convenient location to Route 7, I 95 and the Merritt parkway. There are several different floor plans in the complex. The smallest is a one bedroom with prices starting at 275,000 and the largest is a detached townhome with pricing in the $550,000 and up range.

Ledgebrook condominiums were built in 1972. They are located on Scribner Avenue towards West Norwalk area. It is a large complex with 220 units. The buildings are modern style with beautiful, lush landscaping. With prices starting in the mid $200’s, it’s a great bargain for the area.

Rolling Ridge is located at 50 Aiken Street. This complex was built in 1979 and has 150 units. The floor plans are all ranch style which is one level living. One of the best features is the beautiful stone walls and lovely landscaping plus a huge pool surrounded by lush trees and a pond. Prices here range from a $230 for a one bedroom up to $265,000 for a two bedroom two bath unit.

When you decide to purchase a condominium, make sure the complex is in good condition, check if the complex is planning any major maintenance or improvement projects. Ask if there are any current assessments or any coming up in the future. Some condos which are in need of major work such as painting or a new roof may result in an added cost per month to the common fee.  Make sure the associations reserve fund is adequate for the complex, check to see how many of the units are owner occupied. This may affect your ability to get a mortgage.  Most important, read thru the Home Owners Associations bylaws for the any rules and regulations placed on the complex.

Betty Bondi
Bondi Realty Group LLC -203-899-9990

 

 

 

 

 

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