We don't need to tell you that purchasing a condo is a huge investment. Even though Kew Gardens condos have a reputation for being more affordable than other Queens homes, you'll still need to consider your budget carefully before you throw caution to the wind.
COVID-19 contributed to one of the most unpredictable years in real estate that we have ever seen. Although the pandemic isn't over, sellers are becoming more comfortable with entering the real estate market.
This is welcome news for our buyers! In addition to increased inventory, buyers are finding that sellers are more willing to negotiate than they were last spring and summer.
If you are looking at Kew Gardens condos, don't be tempted to make an impulsive real estate move. While buyers should act quickly, it's also important to know what condo living means. Here are five questions to ask before you make an offer:
1. How much is the monthly HOA fee? Most Kew Gardens condos charge a monthly assessment that includes maintenance, repairs and amenities.
2. What services and amenities does the monthly HOA fee include? The HOA fees usually include common area maintenance, landscaping, snow removal, security and select utilities. A portion of the fee is also placed into a reserve account for large-scale projects.
3. Is parking available? Is there an additional fee for a parking spot? This is a must-know question for urban dwellers who own a car!
4. Can I see a copy of the rules? Review this document to make sure that you can live with everything it says.
5. Are there any special assessments on the horizon? If your building requires a significant improvement that the reserve funds don't cover, each unit owner will need to pay a special assessment. Even if there are no special assessments planned, condo owners need to prepare for this possibility.
We want you to fall in love with Kew Gardens condos, and these questions will help you make the right choice. Get in touch with us today to learn more about being a savvy buyer in Kew Gardens!
Contact us at 718-997-6000 or email us here for more information.