How to Choose a Condo Type That’s Right for You

August 10, 2014 | By Audra Jones AuthorMy First Apartment

Although we as buyers tend to think of a “condo” as the name for those fancy high rise apartments in the sky, the name condo really doesn’t have that much to do with the style of the place, but rather the type of ownership. When you buy a condo home, you are in reality buying a…

Should a First-Time Condo Buyer Consider Purchasing a Foreclosure?

July 29, 2014 | By Contributors AuthorMy First Apartment

By Stephanie Brimo First, let me describe a foreclosure. Also known as an REO sale or a bank-owned sale, a foreclosure takes place only after the home’s original owner has stopped paying the mortgage for a long enough time (often a year or more) that the bank has the legal right to repossess the home.…

Top 5 Things I Wish I’d Known Before Buying a Condo

July 10, 2014 | By Alissa Green AuthorMy First Apartment

With any big life change, there’s a certain degree of blind faith. Sure, you ask people who have gone through the same experience (see: MyFirstCondo.com), but often these big changes amount to trial by fire. Looking back with the wisdom of a veteran (almost 2 years!) condo owner, there are many things I wish I’d…

Bidding Wars: 7 Winning Multiple Offer Strategies

June 29, 2014 | By Contributors AuthorMy First Apartment

By Ali Donoghue What if you find a condo you love, but someone else also loves it? It happens more than you’d think. In fact, in many urban areas there are more buyers than suitable condos. That’s great for sellers, but not so great for you – especially if you’re buying your first condo. If…

When It All Goes Wrong: What I Learned From Not Getting the Condo

May 20, 2014 | By Christa Aiken AuthorMy First Apartment

I was supposed to be part owner of a condo. It was going to be great. I was supposed to move in, make all my renovation dreams come true, and live like a queen. Unfortunately, that didn’t happen and the condo I wanted ended up slipping through my fingers. My mother decided to buy a…

Pro-Tip: Look Past the Charms of a Cleverly Staged Condo

April 11, 2014 | By Contributors AuthorMy First Apartment

If you’ve ever been a part of selling a condo, you’ll know that it’s a complex business, and those who are successful have it down to a fine art. On the buying side, and especially if it’s your first condo, you need to know sellers and their agents will do just about whatever they can…

Condo Price Check: What Can You Get for $100,000 or $200,000 in Eight Cities?

March 28, 2014 | By Douglas Mack AuthorMy First Apartment

If you’re a first-time condo-buyer, your budget probably isn’t huge. But how far will it stretch? We set out to find out what you’ll get for your dollars in various cities. Unsurprisingly, results vary widely. (San Francisco residents, best of luck to you …) These results are based on current posted listings (as of March…

The Plusses and Minuses of Buying A Condo Pre-Construction

March 15, 2014 | By Alex Starace AuthorMy First Apartment

If you’ve been searching for a condo a while, you’ve probably come across listings of places that are still under construction. Maybe you can see developer’s plans, or you can visit a model at the developer’s office, or you can walk around the construction site. But the place you’re buying is not yet built and you cannot see…

10 Point Neighborhood Checklist for Condo Buyers

March 7, 2014 | By Alex Starace AuthorMy First Apartment

Before you go out condo hunting, you need to decide in which neighborhood(s) you’re going to look. Since you’re buying for the long term (ideally, five years or more), you want to be confident you’ll still love where you live down the road – and that when you go to sell, the property (and neighborhood)…

Reviewing the Condo Association’s or Co-op Board’s Meeting Minutes

February 5, 2014 | By Seija Goldstein AuthorMy First Apartment

Condo associations and co-op boards are required to record in written notes, called meeting minutes, all important actions taken and major building issues reviewed during their monthly board meetings and the annual member or shareholder meetings. A review of these minutes for the previous couple of years is part of the customary due diligence conducted…