– Ask about occupancy. If you plan to rent out your condo, make sure it’s allowed under the rules. Likewise, you may want to know if you’ll be sharing space with temporary renters.
– Look beyond the unit. Some questions you may want to ask include: Is the building well managed? Does it have a healthy reserve fund? What special assessments have been done in the past? What work needs to be done in the future? Your home inspector should look beyond your unit too.
– Get the right insurance. The insurance included in your condo fees (or paid separately) only covers common areas and the original building. It’s up to you to cover your belongings and what happens inside your unit — like water damage or accidents.
– Volunteer with your condo’s board of directors. If you want a say in what happens, consider participating in your condo association’s board of directors — but keep in mind you only get one vote. Regardless, it’s a good idea to keep up with what’s going on and bring any concerns you might have to the board’s attention