Orange County condos are at very affordable price right now, and some even say they have reached bottom. Seems like buying a condo is a great investment opportunity even if you don't plan to live in it. But before you jump into buying a condo, there's 10 questions you should know the answer to, ask yourself or find out about:
1. How much are the monthly condo fees and what does it go towards?
2. What are the specific rules of the condominium?
3. How much is in capital reserves and how much gets funded every year?
4. Any contemplated or pending special assessment or legal stuff happening?
5. How is the association managed: professionally or self?
6. Is it legible for FHA or VHA funds?
7. How many of the units are lived in by their actual owners?
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