Here are three questions you should ask the condo board before you buy a Boston condo:
- What percentage of the building condos are owner occupied and what percentage is tenant occupied? A lower owner occupancy may hurt your chances in obtaining a mortgage and also on resale.
- What covenants bylaws and restriction govern the property? Some Boston condos are only allowed to be owner occupied, if you’re thinking about renting about renting out the condo you should know the restrictions ahead of time.
- How much money does the condo association keep in reserves. Is there an upcoming assessment in the future?
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