How to Decide if a Condo is Right for You

If you’re thinking about buying a condo for sale in DTLA, you have to ask yourself if it’s the right choice for you – and here’s what you need to consider.

How to Decide if a Condo is Right for You

Before you make such a big purchase, you have to decide whether a condo is really the right choice for you. Here’s what you need to know:

Condos are shared pieces of property with individual unit owners
Condos typically offer shared amenities and services
Every condo community is different

What is a Condo?

A condo is a shared piece of property that individual unit owners own parts of. You’ll own the space within your unit, but you won’t own the property outside or the exterior of the building. (This is a big bonus when the building needs a new roof!)

Shared Amenities at Condos

Most condos in DTLA have shared amenities, such as fitness rooms, tennis courts and swimming pools. Some have concierge services and doormen, and some have designated parking garages that guarantee you a spot. There are typically common areas outdoors, as well, and some have playgrounds and picnic areas.

Why Every Condo Community is Different

Every condo community has its own rules and regulations. They’re actually called CC&Rs, or covenants, conditions and restrictions. You’ll have to pay dues to be part of the condo association – you don’t have a choice when you buy a condo – and the dues will go to various expenditures that typically relate to the common good. (Fixing the tiles in the pool, improving landscaping and making upgrades or doing maintenance in common areas are standard expenditures for a condo association, and your dues pay for them.)

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.

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