Buying A Condo First Time Buyer Apr 2026

Ask for the last 12–24 months of board meeting minutes to uncover ongoing issues like noisy neighbors or pending litigation.

Lenders may refuse to finance a mortgage if too many units are owned by investors rather than primary residents. 3. The Inspection Process

Before finalizing a purchase, you must investigate the health of the condo association. Use this checklist as a guide: buying a condo first time buyer

First time condo buyer: 7 things you need to know - Better Mortgage

Check for restrictions on pets, parking, or your ability to rent out the unit in the future. Ask for the last 12–24 months of board

When you buy a condo, you own the of your unit privately, but you have a shared ownership stake in the common areas (hallways, landscaping, and amenities) with other owners.

Never waive an inspection, even for a condo. A specialized condo inspection focuses on what is "inside the walls" for which you are responsible. The Inspection Process Before finalizing a purchase, you

These are one-time fees charged for major repairs (e.g., a new roof) that the regular HOA reserve fund cannot cover. 2. Essential Due Diligence Checklist