13 Questions Every New Condo Buyer Should Ask Before You Commit
Buying a condo can be an exciting step toward homeownership — but it also means joining a community governed by an association (HOA or condo board), which handles shared maintenance, rules, and long-term planning. Before you sign, it’s essential to understand not just the unit itself, but the association that maintains the whole building.
Here are 13 key questions every smart buyer should ask — and what the answers mean for you.
1. How much is the condo fee and what is covered?
Condo fees (HOA dues) are typically collected monthly and cover shared expenses that homeowners don’t pay individually.
Ask:
What the monthly fee is
What specific services and utilities it covers (e.g., water, heat, trash, landscaping, snow removal, building insurance, elevator maintenance, amenities)
Why this matters:
Your monthly condo fee is like a built-in utility bill. Understanding what’s covered helps you budget accurately and avoids surprise costs down the road.
2. How is the association managed?
Some associations are self-managed by unit owners, while others are run by a professional property management company.
Ask:
Who handles day-to-day operations
Whether there’s an on-site manager or off-site management company
Why this matters:
Professional management can mean smoother operations and faster responses to issues, but may also contribute to higher monthly fees.
3. What future maintenance or topics are being discussed at association board meetings?
Boards discuss everything from roof repairs to landscaping upgrades.
Ask:
What major projects are coming up
Any known deferred maintenance tasks
Why this matters:
This gives insight into upcoming costs, disruptions, and how proactive the board is at maintaining the property.
4. How much does the association have in reserves, and is it 10% of the annual budget?
Reserve funds are savings set aside for big repairs like roof replacements or exterior painting.
Ask:
Current reserve balance
Whether it meets the guideline of at least 10% of the total annual budget
Why 10%?
This is a common rule of thumb that indicates healthy financial planning and reduces the chance of special assessments.
5. Are there any special assessments coming up?
Special assessments are one-time charges levied on owners to cover unexpected or large expenses.
Ask:
Upcoming assessments (amount, timeline, purpose)
Why this matters:
Even if monthly fees are reasonable, a pending assessment could mean thousands in additional costs.
6. Are there any lawsuits against the condo complex?
Legal issues can impact fees, insurance, and even resale value.
Ask:
Whether there are pending or active lawsuits involving the HOA
Why this matters:
A lawsuit could indicate structural issues, disputes between owners, or financial trouble.
7. What’s the delinquency rate?
The delinquency rate shows how many owners are behind on their HOA fees.
Ask:
Percentage of owners currently delinquent
Why this matters:
High delinquency rates may signal financial instability, putting pressure on the association to raise fees or levy assessments.
8. What does the master insurance policy cover?
Master insurance covers common areas and the building structure, but not your personal belongings or interior unit finishes.
Ask:
What the association policy includes and excludes
Whether it covers floods or earthquakes
Why this matters:
You’ll likely need your own HO-6 policy to cover personal property and interior walls, so it’s important to know where association coverage ends.
9. How many units are owner-occupied?
Owner occupancy can impact pride of ownership, stability, and financing options.
Ask:
Percentage of owner-occupied units vs. rentals
Why this matters:
Higher owner occupancy is usually viewed as more stable and appealing to lenders.
10. What are the condominium rules?
Condo rules govern how the property is used.
Ask:
The full set of governing documents (bylaws, covenants, rules & regulations)
Why this matters:
Rules on noise, renovations, rentals, parking, pets, and amenity use can affect your lifestyle.
11. What is the rental and pet policy?
These details are critical if you plan to rent the unit or have pets.
Ask:
Whether rentals are allowed (and any restrictions)
Pet restrictions (size, breed limits, number)
Why this matters:
Some associations strictly limit rentals or pets, which could affect future plans or investment goals.
12. Where do I park? Is it deeded or assigned? Visitor parking?
Parking logistics can vary widely in condo communities.
Ask:
Whether your parking space is deeded, assigned, or first-come, first-served
Guest/visitor parking rules
Why this matters:
Parking can be a major quality-of-life factor, especially in urban areas.
13. Does the HOA insurance deductible exceed 5% of the building coverage limit?
Large deductibles can lead to special charges being passed on to owners.
Ask:
Actual insurance deductible
Whether it’s more than 5% of the total building coverage
Why this matters:
If the deductible is high, owners may share in big out-of-pocket costs after a major claim.
Final Tip for New Buyers
Don’t just ask these questions — get the answers in writing and review the association documents with your real estate agent and, ideally, a real estate attorney. Being well-informed now can save thousands later.
If you’re considering purchasing a condo in Boston, Cambridge, or surrounding communities, understanding the financial and governance structure of the association is just as important as loving the unit itself.
For guidance on navigating condo purchases and association review, contact:
Konover Property Group
Boston & Cambridge Real Estate Advisors
Follow on Instagram: @konoverpropertygroup
