If you’re buying a condo for sale in DTLA, it’s important to know what each condo community includes with your purchase. Your DTLA Realtor® can help you determine whether a condo is right for you based on its amenities and several other factors.
Amenities Many Condo Communities Include
Every condo building is different, but the basic thing to know is that you’re buying into a community. You’ll own the space between your walls in your unit, but you’ll also have shared ownership of community amenities and features. Some of the most common amenities in DTLA condos include:
- Swimming pools
- Dedicated parking spaces (or a parking garage that everyone can use)
- Additional storage areas
- Community spaces outdoors
- Concierge services
How Do You Own Shared Amenities?
When you buy a condo, you’ll have to join the condo owners’ association that comes with ownership. The association uses your dues to pay for all the amenities the community shares, as well as for repairs and upgrades on existing community amenities.
You’re free to use all the community amenities, as long as you stick to the rules for using them.
It’s a good idea to find out how much the condo association dues are before you buy. The more amenities your condo building has, the higher the dues are likely to be. Sometimes you can pay monthly; other times, you pay quarterly, semi-annually or annually.
Every condo owners’ association has rules called covenants, conditions and restrictions, or CC&Rs. You have to agree to abide by those rules to live in a condo building.
Are You Buying a Loft or Condo in DTLA?
Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.
While you’re here, check out our:
- DTLA Arts District lofts for sale
- Historic Core lofts for sale
- DTLA Little Tokyo lofts for sale
- Bunker Hill lofts for sale
- City West lofts for sale
- South Park lofts for sale
- Fashion District lofts for sale
- Financial District lofts for sale