Buying a Condo or Townhouse in Massachusetts
Buying a condo or townhouse as your primary home, investment property or vacation home may make perfect sense to meet your goals and needs. The diversity of the Massachusetts real estate market offers fabulous options for locations, including urban, lakefront, oceanfront, and slope-side condominiums. You’ll find a wide range of price options to suit a first-time home buyer or someone with a higher budget who wants the swanky lifestyle of the downtown Boston waterfront.
Whatever your life stage, if you are interested in buying a condominium in Massachusetts, you have many fabulous developers and options to investigate as you start the process.
How to buy a condo or townhouse is more involved than most home buyers think. For a first time home buyer or a family seeking to buy a condo for vacation property, the buyer may assume that the monetary investment compared to buying a home translates into a less complex real estate transaction. That is not true. When buying a condo, you are not only buying a property, you are buying into an association. The level of complexity and due diligence in evaluating and assessing the investment is more complex than buying a single-family home.
For that reason, MABA strongly encourages any home buyer considering buying a condo or townhouse in MA to fully consider the benefits of engaging a MABA buyer broker to help you navigate the complexities of the process of how to buy a condo.
Know What You Are Buying and Buying Into
When buying a condo or townhouse, you are buying a defined property and you are buying into an association. In evaluating the condo, do not make any assumptions about what you own and what is common property. Be sure to get clearly defined floor plans and dimensions and have an agent and inspector whom you know and trust working with you. It is best to work with an agent who has proven expertise in evaluating and negotiating condo properties for other buyers.