You know your reasons for buying. Now learn the ways to choose carefully.
Homes in Arlington vary widely but one of the most popular residences of choice for many professionals just moving to the DC Metro area are the lower cost condos in abundance throughout the downtown area including Arlington.
A litany of surprises and conditions await the novice buyer. You'll want an experienced and well versed in the community agent on your side. Negotiation is critical when faced with special assessments for items from refurbishments to roof repairs and elevator upgrades. You name it .There's a fee. Condos in Arlington are often in aging infrastructure of older and even historic buildings and maintenance is a consideration in the overall cost of living in one.
Lending standards also apply to condos in ways they don't for single family homes. Approval must also include consideration of the entire condo building, not just the one you may be purchasing.
In the Condo article, things to note include: Ownership considerations, Management, Condo Fees, those dreaded "Special Assessments", FHA approval, Condo Docs and House Rules and Regulations. All of them impact your condo owner's experience so be prepared in advance.