5 Questions To Ask Before Buying A Condo In Orange County

Are you thinking about buying a condo in Orange County? Here are some questions to ask yourself before making the purchase!

Whether you are buying a condo for yourself or as an investment, there are a few things to consider before buying. You don’t want to find yourself stuck in the wrong place or in the wrong community. Condos are usually heavily regulated by an HOA, so it is important to make sure you are comfortable with the bylaws of the community. Below, we offer some things to ask yourself before buying a condo in Orange County!

What Are The HOA Fees?

When you own a property in a condo community, there are going to be HOA fees. It’s important to know what these fees are, what they cover, and the rate at which they can be increased. If you are living there yourself, you should add the HOA costs to your monthly expenditures. If you are renting out the property, you’ll need to factor in these costs when setting the price of the rent. A condo in a community with few amenities will rent for much lower than the same condo in a community with lots of benefits and perks.

What Is The Policy On Renting The Condo Out?

Be sure to read all the rules and bylaws in place in the community. Some communities have rules about renting the condo out to third parties. Typically, using the condo as a vacation rental on sites like Air B&B won’t be allowed.

Is The Complex In Demand?

Take a look at the recent sales as well as other units for rent in the area. How long are these properties staying on the market? If they are being snapped up pretty quickly, its a sign that the property is in demand and will increase in value over a relatively short period of time. As an investor, you’ll want to make sure that you will be able to find a high-quality tenant right away. While some vacancies are normal, you don’t ever want to risk being stuck with a vacant unit over a long period of time.

How Will It Meet Your Needs Longterm?

Many people will purchase a condo as an investment with the goal of using it themselves during retirement. Once you’re retired, you may not need the space, yard, or hassles of a single-family home. If you plan on solely renting it, make sure it is an area that is appreciating, with positive future development plans in the works. When buying a condo in Orange County, you’ll want to make sure it will be beneficial for you for years to come. Of course, if you are flipping the property, this won’t apply.

Are The Rules And Regulations Reasonable?

An HOA puts rules and regulations in place in order to maintain a high quality of life for its residents. For example, you don’t want to hear music all night, have strangers park in your spot, or worry about the shared areas being dirty or full of litter. However, it’s no secret that some HOA’s go overboard with what they demand of its residents. Everything from what’s on your patio to the color of your interior curtains can be regulated. While some people appreciate the order, others can feel like they are losing their sense of freedom. Before purchasing a condo in Orange County, make sure you are comfortable with the rules of the community.

Purchasing a condo in Orange County is an excellent way to begin or add to your real estate portfolio. Once you know what to look for and where to buy, purchasing condos as an investment can be a very profitable practice!

Contact us if you are thinking about buying a condo in Orange County, we are here to help! 949-625-4533


Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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