10 crucial things you need to know before buying a condo in Chicago!

Let’s break it down:

1. HOA Fees: Understand what they cover – they can impact your budget & lifestyle.
2. Reserves & CAPX: Check HOA reserves & upcoming capital expenditures for financial stability.
3. Maintenance: Inspect roof age & waterproofing, especially for garden units & duplex downs.
4. Parking: Know if your parking is assigned or owned – it affects daily life & resale value.
5. Soundproofing & Building Type: Ask about soundproofing and construction materials for energy efficiency & noise levels.
6. Rental Policies: Review restrictions on rentals, especially for short-term (Airbnb). Make sure it’s allowed if you plan to rent.
7. Common Areas & Storage: Don’t forget to ask about storage space – sometimes people don’t even know they have it!
8. Snow Removal: Who handles snow removal? You don’t want to be stuck with that in the winter!
9. HOA Financial Health: Have dues increased recently? This can indicate the HOA’s financial stability.
10. Lawsuits & Repairs: Inquire about any ongoing lawsuits or major repairs – this is your investment.

These tips will help you find your perfect home! #ChicagoCondos #HOAFees #RealEstateTips #BenLalez #CondoLiving #ChicagoRealEstate #InvestmentTips #HomeBuyingJourney

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