Some Facts About Buying A Condo On The North Shore Of Long Island

By
Real Estate Agent with Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803


Are you thinking about buying a Condo on The North Shore Of Long Island 

You may have some questions about Condo life in general that youLong Island Condo need answered. Larry & Sheila Realtors are answering Frequently Asked Questions about Condo Living on Long Island to help Buyers decide whether or not this would be the right lifestyle choice.

 

Are There Rules To Be Followed? ~ Yes, upon buying a Condo, you will be given a Homeowner's Manual and/or By-Laws. Many Condo communities do not allow you to see these rules before you are in contract

Are There Monthly Fees Involved? ~ As a Condo owner, there are monthly fees you will have to pay as an owner. Every Condo here on The North Shore Of Long Island has its own set of fees that are determined by the cost of running the common areas and the amenities which it offers.  

Do All The Condos Charge The Same Fees? ~ No, every community has different fees. At some Condos all owners pay the same fee no matter what size unit you are buying, and some are determined by the size of the unit.

Can I Change The Condo To Meet My Needs? ~ It depends on what kind of changes you want to make. Any exterior structural changes cannot be done. Any interior structural changes will have to be submitted to the Board or Management for approval. Each community is different and these rules will be included in the community By-laws and Homeowner's Manual.

Do Condos Have Garages? ~ Some Condo communities have attached garages, some detached garages and some no garages. But most communities have parking spaces, although some are not designated ones. 

Are Pets Permitted? ~ This depends on the Condo. Some on The North Shore Of Long Island are pet friendly and others do not allow pets. Ask Larry & Sheila specifics when buying a Condo here.

Whose Responsible For Exterior Maintenance? ~ If it's a Condo and not a Homeowner's Association, most of the time the community is responsible. However, check with Larry & Sheila for details of the Condo you are interested in. 

Are Rentals Allowed? Sometimes yes and sometimes no. Each community is different so if you are planning to buy a Condo on The North Shore Of Long Island to rent out, you must verify this information with the individual community.

Do All Condos Have Amenities? ~ No. There are active Condo communities with clubhouse, pool, tennis, gym and social activities, and there are also some with no amenities except that the lawns are maintained and snow is removed. Some neighborhoods do not cover the lawn or snow maintenance, so again, check with Larry & Sheila for this information.

What Is A Special Assessment? ~ This is a fee approved by a homeowners association or Condo Board to cover items not provided for in the budget.  This can be a controversial expense. Many associations do an excellent job of planning for replacement costs and are adequately prepared, however, others accumulate funds based on outdated cost estimates and discover when the day comes for a major repair or replacement that they do not have the funds to pay for the project.
 
Do All Condos Have Washer & Dryers? ~ No, although many of them do have a washer and dryer within the Condo on The North Shore Of Long Island, but check with Larry & Sheila when choosing a unit.
 
Do Condos Have Central Air Conditioning? ~ Not all, so ask Larry And Sheila when purchasing on The North Shore Of Long Island.
 
Are There Age-Restricted Condos? Here on The North Shore Of Long Island we have Non-Age Restricted Condos as well as Age-Restricted Condos for 48+, 55+ and 62+ adults.
 
 

What's The Difference Between A Condo, A Townhouse and A Pud?~The easiest explanation is the following but you can also read this link which Larry & Sheila wrote on this subject: http://activerain.com/blogsview/3035434/is-there-a-difference-between-a-condo-a-townhouse-and-a-pud-

Townhouse ~ You own the land on which it sits.

Condominium ~ You own the inside of the unit.

PUD ~ You own the land front and back of unit.

Many consumers and Realtors too, conveniently refer to all of these types of structures as Condos, although they may actually be a Townhouse or PUD

There are many factors to keep in mind when choosing the North Shore Long Island Condo of your choice. This will be an investment decision that can last a lifetime and should be considered very carefully.
When you are ready to move to your Condo on The North Shore Of Long Island, hire Larry And Sheila Realtors 631-805-4400.

This Long Island Real Estate Condo Buyer Tip is courtesy of Larry And Sheila Realtors 631-805-4400, helping Buyers and Sellers on The North Shore Of Long Island.

Call, and take a look at Condos On The North Shore Of Long Island...

 
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If your home or condo is listed with another broker, this is not a solicitation of the property.
 
Sale May Be Subject To Term & Conditions Of An Offering Plan.
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Larry And Sheila Long Island Realtors 

Do You Have Questions About Your Long Island Neighborhood? 
Need More Specific Information On Your Long Island Home or Condo For Purchase Or To Sell? 
 
Call Real Estate Agents Lawrence "Larry" And Sheila For More Comprehensive Reporting At
 631-805-4400 (c) .
We Welcome Your Call!

If you or anyone you know is considering to sell their existing home on The North Shore Of Long Island, or is purchasing their first home, dream home, step-up home, or retirement residence, we would appreciate the opportunity to serve them. We can also recommend a relocation professional in the destination of choice outside our Long Island area!

 

Lawrence "Larry" and Sheila are more than just Real Estate Agents. To attain the designation of REALTORS®, Lawrence & Sheila have proven they are more knowledgeable and experienced, above and beyond the average requirements. Being a part of the network referred to as REALTORS®, you can be sure Lawrence & Sheila will cater to your Real Estate needs with superior professional practices.

 

Are you ready to trust this professional Husband And Wife Team who are committed to you the Client? Call Lawrence "Larry" and Sheila at 631-805-4400 (c) and start your real estate investment on Long Island with two REALTORS® you can trust.

 

 All content, including text, photographs and images, remains the exclusive property of Suffolk Experts. Only with written permission of Lawrence & Sheila may anything be used by others. All information is believed to be accurate but is not guaranteed. Suffolk Experts and Lawrence & Sheila make no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, delays in information, any losses, injuries, or damages arising from its display or use.

 

 

  

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Topic:
Real Estate Sales and Marketing
Location:
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Comments 20 New Comment

Show All Comments
Rainmaker
1,842,141
Gita Bantwal
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
RE/MAX Centre Realtors

Anyone looking to buy a condo in Long Island should call you . You are the experts.

September 15, 2012 04:30 AM
Ambassador
1,238,889
Toni Weidman
23 Years Selling Homes in New Port Richey, FL
Re/Max Sunset Realty

This is a great condo explaination, Larry and Sheila. Everything anyone needs to know about Long Island condos. Suggested.

September 15, 2012 04:35 AM
Rainmaker
1,339,336
Anita Clark
Realtor - Homes for Sale in Warner Robins GA
ColdwellBanker SSK Realtors ~ 478.960.8055

Larry/Sheila...this is an excellent explanation of many of the terms that may come up when buyers are looking to buy a condo on the north shore of Long Island.

September 15, 2012 04:37 AM
Rainmaker
1,385,351
Roger D. Mucci
Lets shake things up at your home today!
Shaken...with a Twist 216.633.2092

In the inimitable words of Carly Simon........"nobody does it better!"

September 15, 2012 04:53 AM
Rainmaker
1,881,569
Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

Very good information for prospective purchasers.


Have a very special weekend with your camera in hand.


September 15, 2012 06:58 AM
Rainmaker
1,046,560
Scott Godzyk
One of Manchester NH's Leading Agents
Godzyk Real Estate Services

Good Morning Larry and Sheila, A wonderful blog on purchsing condos on the North Shore of Long Island. Another great job. Have a great Saturday

September 15, 2012 06:59 AM
Rainmaker
1,370,237
Joan Cox
Denver Real Estate - Selling One Home at a Time
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373

Larry & Sheila, there are more rules with multi-family properties, and great post identifying these for potential buyers!

September 15, 2012 07:05 AM
Rainmaker
574,979
Patricia Feager, MBA, GRI, Cert Negotiations Expert, Military Relo Prof
The Little REALTOR® That Could
Keller Williams Realty

Larry & Sheila,

These are great questions and people need to know, even if they don't ask. There seems to be a lot of baby boomers, empty nesters and people who are single today. Condos are a great alternative to renting.

You've put together a great list of questions and answers which helps put things into perspective!

September 15, 2012 10:04 AM
Rainmaker
528,791
David Burrows
No Pressure, Just Seriously Devoted to Real Estate
Classic Realty

Larry & Sheila, excellent information that all potential Condo Buyers would want/need to know. Personally, I love Condo living! You've certainly answered many important questions.

September 15, 2012 11:11 AM
Rainmaker
1,305,938
Ron & Alexandra Seigel
Luxury Real Estate Marketing
ra@napaconsultants.com

Larry and Sheila,

This is a great explanation of condo living, and I am suggesting this post, as I feel the public at large should be aware of this.  Thankss, and it is well written.  A

September 15, 2012 11:43 AM
Rainmaker
241,251
Ellie Penaranda
Naples Florida Real Estate - Waterfront & Beach Co
239.776.5077 Downing-Frye Realty

Larry/Sheila, you did a wonderful job here answering a great deal of buyer questions for the Long Island market.  Have a wonderful weekend. 

September 15, 2012 12:17 PM
Rainmaker
494,494
Chris and Dick Dovorany
Broker/Associate at Premiere Plus Realty
Homes for Sale in Naples, Bonita Springs and Estero, Florida

Perfect.  Most condo developments have pretty much the same rules and regs.  Good to have them printed out so no one can say, "but you never told me".

September 15, 2012 02:30 PM
Ambassador
1,431,918
Jennifer Fivelsdal
Mid Hudson Valley real estate connection
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571

Larry and Sheila these are valid concerns when buying a condo.  A condo buyer would be wise to seek your assistance with the process.

September 15, 2012 05:47 PM
Rainer
232,378
Mike Yeo
3:16 team REALTY
Great question and answer post. That is a great way to help potential buyer in their research. COngrats on the featured.
September 15, 2012 08:02 PM
Rainmaker
338,151
Lloyd Binen
Silicon Valley R since 1976;408-565-8177
Certified Realty Services

Sheila and Larry, this is very helpful information for people thinking about purchasing a LI condo/towhnouse/PUD.  Most of it is the same in CA.  Except, I don't understand why a potential buyer can't get a copy of rules until they're in contract.  You, the Realtors, can go through all the time and effort of negotiating a transaction successfully, and then find out that there is a rule that's objectionable?  I'm sure it doesn't happen often, but it seems backward to this CA Realtor.  Why not let the buyer see the rules first and save everyone--buyer, seller and Realtor-- the trouble?  I guess the answer is: 'That's the way they do it in LI'.

September 15, 2012 10:09 PM
Rainmaker
305,145
Wandanna Melliphant
A Name Real Estate Investors Trust and Recommend
Royal Lepage Credit Valley Real Estate Brokerage

Hi Larry and Shelia,

This is a well done frequently asked list of condo questions.

Any first time condo buyer would find this blog helpful.

All the best for the rest of 2012!

 

September 15, 2012 10:10 PM
Rainmaker
1,773,492
Gabe Sanders
Stuart Florida Real Estate
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales

Great information about condo living Larry and Sheila.  These are questions very often asked by many who are not familiar with the condo lifestyle.

September 16, 2012 05:13 AM
Ambassador
1,637,838
Fernando Herboso - Broker for Maxus Realty Group
301-246-0001 Serving Maryland, DC and Northern VA
Maxus Realty Group - Broker 301-246-0001

Is almost like every question should be a whole post. .great job guys!

September 16, 2012 06:33 AM
Rainmaker
891,496
Michael Setunsky
Your Commercial Real Estate Link to Northern VA
Michael's Commercial LLC

Larry & Sheila, great answers to the many questions prospective Condo owners have before making the purchase. It's best to check with you first to make sure all their questions are answered.

September 16, 2012 06:39 AM
Rainmaker
495,659
Lori Cain
Midtown Tulsa Real Estate Top Producer
Chinowth & Cohen Realtors

And, in Tulsa county, many condos are not Fannie Mae, Freddie Mac or FHA approved, so question that before you write an offer!

September 16, 2012 08:23 AM
Show All Comments
Rainmaker
1,439,369

Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)

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