Tired of ho-hum apartment style condominiums?  Enjoy a better lifestyle in this lovingly cared for home. With 1300 square feet of living space and 3 good sized bedrooms you won’t feel cramped or crowded in this meticulously maintained Andover home. The floor plan flows smoothly from room to room and there are plenty of window for natural lighting and fresh air.  Modern kitchen, hardwood floors,full size  in-unit laundry and garage! Close to Andover center, Andover schools and shopping.  Search the MLS for other homes for sale in Andover and the surrounding communities.

$249,900

Historic Andover Landmark

This stately residence boast an architecture and style unparalleled in the Andover area.  Truly unique and affordable, this Andover landmark showcases a stunning new ballroom and grand entry and foyer.   The new heating system, storage facilities, laundry, elevator and carpeting are among the fully insured improvements you’ll enjoy. Upstairs, soaring ceilings, spacious open living room  a bonus sleep/storage loft area welcome you home.  Deeded and guest parking and close to parks,schools,shops and transportation.  Offered at an incredible $139,900 and presented by Paulette Zuena, REMAX Partners, Andover, call for your personal tour or click here for more details.

I’m still stunned when I hear professionals use those words….”Don’t worry,  the condo association will take care of ____ “(insert… roof, deck, driveway…any common area of your choice.)  The fact is, if you are thinking about buying a condominium YOU ARE (or will be) THE ASSOCIATION.  Buying a condominium can be an excellent option.  It may offer you a great value and owning a condominium may suit your lifestyle perfectly.  Just be sure understand how condominiums are owned, financed, maintained and managed before you make that buying decision.  If you buy a condominium you are entering into a partnership with your fellow association owners.  If you were buying a partnership in a business, you would, presumably, complete a careful analysis of that business. You’d look at its expenses, its revenues, its operating budget, its financial reserves, its assets and its liabilities.  I encourage my clients to look at condominium ownership in a similar manner.  Condominium associations which are well managed  pay attention to costs, have established maintenence schedules and have budgets for both current and future expenses.  Those that don’t often suffer serious financial hardships over the long run.  Sooner or later the owners have to address deferred maintenance issues and the solution, sadly, is usually a costly special assessment to the unit owners.  If you’re considering purchasing a condominium or single familyhome contact Paulette Zuena at REMAX Partners in Andover to arrange a complimentary buyer consultation and Search all Andover homes for sale.

Turnkey! Bright, sunny and beautifully maintained both indoors and out this 2 bedroom condominium has much to offer. Appealing floor plan, private deck, plenty of windows,central air conditioning, new windows,ample closet and storage space, in-unit laundry and detached garage all conveniently located near shopping, schools and highways. Great location, terrific value offered  at $199,000.  Search the MLS for other condominiums and single family homes for sale in the Andover area.

For many home buyers, a condominium offers an excellent lifestyle and an affordable alternative to buying a single family home. If you’re considering  buying a condominium in Andover or any other community, be sure to take time to find out everything you can about your condominium association. 

Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive—and organized—its members are. Start by asking the condominium board  with the following 10 questions.

1.      What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.

2.      What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can’t rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.

3.      How much does the association keep in reserve? How is that money being invested?

4.      Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs. To determine if the assessment is reasonable, compare the rate to others in the area.

5.      What does and doesn’t the assessment cover—common area maintenance, recreational facilities, trash collection, snow removal?

6.      What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board’s fiscal policy.

7.      How much turnover occurs in the building?

8.      Is the project in litigation? If the builders or homeowners are involved in a lawsuit, reserves can be depleted quickly.

9.      Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer’s report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren’t in good repair, they become your problem once you buy.

10.  Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you’re buying, may require separate assessments.

Reprinted from RealtorMagazineOnline with permission of the National Association of Realtors. Copywrite 2005. All rights reserved.

As your real estate consultant, I can help you find the answers to these and other important questions. So contact me anytime or search the MLS for condominiums.

Condominiums and townhouses offer an affordable real estate option to single-family homes in Andover and North Andover Massachusetts. But here are just a few of the many  facts to consider before you buy.

1. Storage. Some condos have storage lockers, but usually there are no attics or basements to store belongings.

1. Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you hate yard work, this may be the perfect option for you.

1. Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.

1. Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home.

1. Security. Many condos have keyed entries and or even door attendants. Plus, you’ll be closer to other people in case of an emergency.

1. Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees agreed to by the condo board, whether or not you’re interested in the amenity or not.

1. Resale. The ease of selling your unit is more dependent on what else is for sale in your building, since units are usually fairly similar. Single-family homes usually are more individual.

1. Freedom. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.

1. Proximity. You’re much closer to your neighbors in a condo or townhome. If possible, try to meet your closest prospective neighbors before making a decision.

Search for condominiums for sale in Andover, North Andover and surrounding communities.

Reprinted from Realtor Magazine Online with permission of National Association of Realtors Copywrite 2005 All Rights Reserved.