Any time you're buying a new home, there are lots of important questions you should ask. First-time homeowners often don't know what to ask, but even if you've owned a traditional home before you may not be aware of the idiosyncrasies of townhomes in particular.
Remember the old adage “if you don't ask the right questions, you won't get the right answers.” This is so true and, unfortunately, many townhome communities may not volunteer information if you don't ask about it specifically.
With that in mind, here are 16 questions to ask to help you make sure you don't make a decision that you'll regret:
- Who manages the complex and how accessible are they?
- What types of people live in the community, and do they match your lifestyle?
- What amenities are included in your home ownership (swimming pool, clubhouse, weight room, picnic shelters, etc.), and what are the rules governing them?
- What are the common areas of the community, and what are the rules and hours of operation for their use?
- Where are your parking spaces and what accommodations are there for guest parking?
- What type of storage space is available?
- What does the master insurance policy cover and what coverage do you need to secure?
- How much are the Homeowner Association (HOA) fees?
- What are the HOA rules and regulations? Make sure you fully understand and can comply with them.
- Which repairs and maintenance issues are you responsible for, and which items is the HOA responsible for?
- What other services are covered by the HOA, like insurance and security?
- Are major repairs or renovations planned, or have any major repairs been completed recently?
- Is the association involved in any legal disputes?
- How much money does the association have in reserve?
- Ask to review a copy of the association's covenants, conditions & restrictions, and bylaws, as well as recent meeting minutes.
- And, finally, meet and talk with people who live in the community. You'll want to make sure you feel like you're a good fit for the neighborhood, and this is also a chance to find out what they like best and least about living there.
The more you research your new home purchase the greater the likelihood you'll be happy with your decision. Above all, make sure you're purchasing from a developer that you can trust and that you have access to.
There's nothing worse than sinking a lot of money into a new townhome and ending up with nobody “in charge” in the event you have problems. Here at Edgewood, your developer is your neighbor. John Cannon is the developer, builder, and lives in Edgewood. That's one less worry on your mind!