Things to Ask
Big Decisions

Things to Ask Before Buying a Condo

Buying a condo means buying both a private unit and a financial relationship with a larger property. Your monthly payment is only part of the cost. Association fees, reserves, insurance, special assessments, building maintenance, rules, rental restrictions, parking, shared systems, and future capital projects can materially affect ownership.

Condo laws, disclosure rules, reserve requirements, association powers, and document availability vary by location. Review the actual governing documents, budgets, financial statements, insurance information, meeting minutes, and required disclosures. For legal or financial questions that matter to the purchase, use qualified local professionals rather than relying only on a checklist.

Things to Ask About the Monthly Association Fee

Start with what the fee covers and how often it has increased.

A low fee is not always better if it leaves the association underfunded.

  1. What is the current monthly association fee?
  2. What does it include?
  3. Does it include water?
  4. Does it include trash?
  5. Does it include exterior maintenance?
  6. Does it include insurance for common areas?
  7. Does it include amenities?
  8. How much has the fee increased over the last five years?
  9. Is another increase already planned?
  10. Are different units charged different amounts?
  11. How is each unit's share calculated?

Things to Ask About Reserves

Reserve funds help pay for roofs, elevators, pavement, siding, plumbing, structural work, and other major future expenses.

An association with weak reserves may rely more heavily on special assessments.

  1. How much money is in reserves?
  2. Is there a recent reserve study?
  3. When was it prepared?
  4. What projects does it identify?
  5. Is the association funding reserves at the recommended level?
  6. What major components will need replacement soon?
  7. What does the reserve study estimate those projects will cost?
  8. Has reserve funding been reduced to keep monthly fees low?

Things to Ask About Special Assessments

A special assessment can add thousands of dollars or more to ownership cost.

Ask about both approved assessments and projects that may create one soon.

  1. Are there any current special assessments?
  2. How much is my unit's share?
  3. When are payments due?
  4. Are any assessments under discussion?
  5. What major repair could require an assessment?
  6. Have there been assessments in the last ten years?
  7. How large were they?
  8. Why were reserves not sufficient?
  9. Could the seller remain responsible for any existing assessment under the contract or local rules?

Things to Ask About the Budget

Read the association budget to understand where money goes and whether expenses are rising faster than income.

Look for large insurance, maintenance, management, utility, legal, or repair costs.

  1. Can I review the current budget?
  2. Is the association operating with a surplus or deficit?
  3. What expenses have increased most?
  4. How much is spent on insurance?
  5. How much is spent on management?
  6. How much is contributed to reserves?
  7. How many owners are behind on dues?
  8. How much delinquent assessment income is outstanding?
  9. Are legal expenses unusually high?

Things to Ask About Building Insurance

Condo insurance is layered. The association may cover common elements while the owner needs a separate policy for the unit, personal property, liability, improvements, deductibles, and loss assessment.

Ask an insurance professional to explain the specific master policy and your likely coverage needs.

  1. Can I review the association's master insurance summary?
  2. What does the master policy cover?
  3. What does it exclude?
  4. What is the property deductible?
  5. Are there separate wind, hail, flood, earthquake, or water deductibles?
  6. Can deductibles be allocated to unit owners?
  7. What unit-owner policy is normally needed?
  8. Has the association had difficulty obtaining insurance?
  9. How much have premiums increased?
  10. Are any major exclusions affecting the property?

Things to Ask About Rules

Condo ownership means accepting rules that can affect pets, renovations, flooring, balconies, grills, noise, decorations, vehicles, storage, and guests.

Read the actual rules rather than relying on a seller's summary.

  1. What pet rules apply?
  2. Are there breed or size limits?
  3. What renovation approvals are required?
  4. Are hard-surface floors restricted?
  5. What noise rules apply?
  6. Are grills allowed?
  7. What can be stored on balconies?
  8. Are holiday decorations regulated?
  9. What vehicle restrictions exist?
  10. Are commercial vehicles allowed?
  11. What guest rules apply?
  12. What fines can the association impose?

Things to Ask About Rentals

Rental restrictions can affect future flexibility and resale value even if you plan to live in the unit yourself.

Ask about caps, minimum lease terms, waiting periods, and short-term rentals.

  1. Can owners rent their units?
  2. Is there a rental cap?
  3. Is the cap currently full?
  4. Is there a waiting list?
  5. Is there a minimum ownership period before renting?
  6. What is the minimum lease term?
  7. Are short-term rentals prohibited?
  8. Does the association approve tenants?
  9. Are rental rules likely to change?
  10. How many units are currently rented?

Things to Ask About Major Building Projects

Roofs, elevators, balconies, siding, windows, plumbing stacks, garages, pools, roads, and structural components can create large future costs.

Meeting minutes and reserve studies may reveal projects not obvious during a showing.

  1. What major project was completed most recently?
  2. What major project is next?
  3. Is the roof near replacement?
  4. Are elevators due for modernization?
  5. Are balconies being inspected or repaired?
  6. Are plumbing risers or stacks aging?
  7. Are parking structures undergoing repair?
  8. Are windows an owner or association responsibility?
  9. What project could be especially expensive?
  10. How will it be funded?

Things to Ask About Meeting Minutes

Board or association meeting minutes can reveal disputes, leaks, insurance problems, owner complaints, rule changes, lawsuits, deferred repairs, and upcoming costs.

Review more than the most recent meeting if available.

  1. Can I review recent board meeting minutes?
  2. What repair issues appear repeatedly?
  3. What owner complaints appear repeatedly?
  4. Are major rule changes being discussed?
  5. Are there recurring water leaks?
  6. Are there disputes with contractors?
  7. Are legal claims being discussed?
  8. Are assessments or fee increases being considered?

Things to Ask About Litigation

Pending litigation can affect finances, insurance, lending, and resale.

Ask what claims exist and whether they are covered by insurance.

  1. Is the association involved in any lawsuit?
  2. Is litigation threatened?
  3. What is the dispute about?
  4. Is insurance defending the association?
  5. Could owners face costs beyond insurance?
  6. Has litigation affected financing for units?
  7. Has the association sued a developer, contractor, or owner recently?

Things to Ask About Financing

Some lenders evaluate the health of the entire condo project in addition to your personal finances.

Association delinquencies, insurance, litigation, rental concentration, commercial space, or building condition can affect loan eligibility.

  1. Has this building had financing problems?
  2. Do major lenders routinely approve loans here?
  3. Are too many owners delinquent?
  4. Is investor ownership unusually high?
  5. Is litigation affecting loan approval?
  6. Does the building meet common lender requirements?
  7. Should my lender review the project before I spend heavily on inspections or appraisal?

Things to Ask About the Specific Unit

Condo inspections still matter. Interior plumbing, electrical, HVAC, windows, appliances, moisture, and finishes may be the owner's responsibility.

Ask which systems are shared and which belong to the unit.

  1. What systems belong to this unit?
  2. What systems are maintained by the association?
  3. Who maintains windows?
  4. Who maintains exterior doors?
  5. Who maintains the HVAC system?
  6. Is plumbing shared with other units?
  7. Have there been leaks from above or into units below?
  8. Has the unit had mold or water damage?
  9. What renovations were made?
  10. Were required approvals obtained?

Things to Ask About Parking and Storage

Parking spaces and storage may be deeded, assigned, limited common elements, rented, or simply allocated by the association.

Understand what transfers with the unit.

  1. Is a parking space included?
  2. Is it deeded or assigned?
  3. Can the assignment change?
  4. Can I rent another space?
  5. Can I rent my space to someone else?
  6. Is guest parking available?
  7. Is storage included?
  8. Is the storage unit deeded or assigned?
  9. What items are prohibited in storage areas?

Things to Ask Before You Make the Final Decision

Add the mortgage, taxes, insurance, association fee, expected fee increases, likely maintenance, and any assessment exposure together.

Then ask whether the building's governance, finances, rules, and future projects fit your tolerance for shared ownership.

  1. Can I comfortably afford the fee if it rises?
  2. Could I absorb a significant special assessment?
  3. Do the rules fit how I want to live?
  4. Would rental restrictions create a problem later?
  5. Do the reserves look adequate?
  6. What major project worries me most?
  7. Do I understand the master insurance and my own insurance needs?
  8. Would I still buy this unit if the monthly fee were meaningfully higher in five years?
You are buying into the association too.

A beautiful unit can still be a difficult purchase if the building has weak reserves, major deferred maintenance, restrictive rules, expensive insurance, or poorly planned future projects.

Things to Ask About Management

The association may be self-managed or use a professional management company. Management quality can affect maintenance, communication, collections, vendor oversight, and how quickly problems are handled.

Ask how long the current manager has served and whether turnover has been high.

  1. Is the property professionally managed?
  2. How long has the current management company been in place?
  3. How are maintenance requests handled?
  4. How quickly do owners receive responses?
  5. Who supervises contractors?
  6. How are emergencies handled after hours?
  7. Has management changed frequently?
  8. What complaints about management appear in recent minutes?

How to Use These Questions

Choose the questions that would genuinely change your understanding or decision rather than trying to complete every item in order.

When an answer matters, ask for an example, what changed, what the person means by a particular word, or what would make the answer different. A specific follow-up usually teaches more than another prepared prompt.

  1. Can you give me an example?
  2. What part matters most?
  3. What changed?
  4. What would make your answer different?
  5. What important question have we not asked?

Things to Ask About Owner Responsibilities

Condo documents divide responsibility between the association and individual owners. The boundary is not always intuitive. A pipe inside a wall, balcony surface, window, HVAC unit, or damage from a neighboring unit may be handled differently depending on the documents.

Understand the allocation before a repair becomes urgent.

  1. Which plumbing lines are my responsibility?
  2. Who repairs damage from a leak between units?
  3. Who maintains balconies or patios?
  4. Who maintains windows?
  5. Who maintains HVAC equipment?
  6. Who handles pest problems?
  7. Who repairs drywall after association plumbing work?
  8. What deductible or repair cost can be charged back to an owner?

Frequently Asked Questions

What should I ask before buying a condo?

Ask about association fees, reserves, special assessments, budget, insurance, rules, rental restrictions, major projects, meeting minutes, litigation, financing, parking, and responsibility for unit systems.

Why are condo reserves important?

Reserves help pay for major shared repairs and replacements. Weak reserves can increase the chance that owners face special assessments or large fee increases.

Should I read condo association meeting minutes before buying?

Yes, when available. Minutes can reveal recurring repairs, disputes, planned projects, assessments, lawsuits, insurance concerns, and rule changes.

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