Archive for March, 2009

So you’re ready to buy the perfect place, preferably a condo in Bridgewater right? The last thing on your mind is to ask your agent to see if the finances of the condo community your joining are on the up and up. This overlooked step can sometimes cause you problems, but thats where a good Realtor comes into play. As your Realtor I can make sure you get the condo’s financial documents in time, which gives you ample opportunity to look over the in’s and outs.

I serve on a condo board in Bridgewater as their secretary, so I know what these budgets look like and it can be tough to understand. There are many pieces to the budget but the main thing to look for is to see if they have about 1/3 of the total money in reserves. This just means that if the community needs a new roof down the line, there is enough money to cover it.

Most communities have their books in order because they use a third party company to take care of all the budget issues. For example, the Bridgewater Condo community I live in is the Bridle Club and we’re managed by Integra Management. We have two full time property managers that handle the day to day operations and have a real grip on the budget. The point is, it’s your purchase and it’s good to know all the facts. I can help you sort through these facts and get you into a great place.

Questions? Give me a call.