Things to Know Before Buying a Condo

Things to Know Before Buying a Condo

Monday, May 16, 2011

Condos like ICON Miami Beach are generally a “safe bet” when it comes to buying a condominium home.  Just like you would a traditional single family home, there are things you should be aware of regardless of how highly regarded a condo may be.  Nowadays, the risks of buying a condo are much more prevalent.

Even if you're considering buying a unit in the ICON condo, take a look at the minutes during association board meetings.  There may common problems that several owners are not pleased with which could affect your decision or perhaps impending projects you weren't aware that could also sway your decision.

Another important thing to look into is the existing delinquency rates. If several owners aren't making their association payments, there may be an underlying problem such as an association that's underfunded or a large portion that are unhappy for whatever.

Generally speaking, these problems aren't likely to be found at a building ICON but the more you know, the less problems that may arise when you're out searching for the right Miami Beach condo to call home.

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