Greater Kalamazoo and Portage Condos for Sale
The Greater Kalamazoo and Portage area have some wonderful condo developments at many different price points.
The Veenstra Team has been helping people buy and sell condos for many years and will be able to help you explore your options.
Condominium homes or Condos do not specify a certain type of look of a home and is not a certain “building type”. When a property is called a condominium, it refers to the type of ownership which is available for the property.
In the condominium form of ownership in Kalamazoo and throughout the state of MI, the owner of each unit holds title to the unit. The individual unit owners also own a specific shared interest in what is typically called the “common elements”. Common elements will vary from condo development to development but typically can include things like land, courtyards, lobbies, exterior structures, elevators, hallways, the roof, the exterior of the property and more. Joint or shared interest in amenities like pools, exercise facilities, tennis courts, golf courses, walking paths, ponds, woods can also be a part of the condominium’s features. The shared or common elements that are included with a various condomiuium complex vary widely and are typically spelled out in the Bylaws of the Condo Association or in the Condo Rules of Association.
Because the main ownership of a condo is the individual unit, but does not often include the roofs, exterior windows, siding and lawns, condos are often a great, low-maintenance choice as a primary residence, a second home, a vacation home or even an investment property.
The National Association of REALTOR (NAR) regularly does research on condo ownership. The popularity of condominiums continues to rise. Condos are often a very desirable option for Seniors who do not want to bother with home maintenance chores or who like to travel much of the year. According to NAR, condo sales are up 23 percent from 2013 with a medium price of $209,600. This is also true in Kalamazoo and Portage. The popularity of condos seems to continue to grow.
Condos also have some very unique aspects to a purchase and home buyers who are looking to purchase a condo should make sure that their REALTOR has experience in helping buyers purchase condos. In addition, because condos are so popular, it is really important for potential condo owners to connect with REALTORS have excellent tools and systems in place to ensure that they learn about the condos that come on the market.
As we mentioned, condos as an alternative to the traditional single-family home has unique issues to consider before buying, as well as unique benefits. When the Veenstra Team works with home buyers interested in condos we want to be sure that you have the background information to help you realize if purchasing a condo is the best way to reach your real estate goals.
If you are considering buying a condominium for a home, here are a few things you should know:
Basic information about Condo ownership:
As a general rule, if you own a condo, you typically own everything inside your unit, not including walls that are shared with other units. So the individual condo owners hold title to the condominium unit only and not the land under the unit. As we mentioned before, all owners have a shared title to the common areas or common elements which can be: the grounds, lobby, halls, parking areas and other amenities. The management of the condo association is usually handled by a homeowners’ association (HOA). The HOA typically creates and enforces the rules of the condo association and also collects a monthly fee from all condominium owners to pay for the operation and maintenance of the property. HOA fees in Kalamazoo can cover such items as insurance, landscaping, snow plowing, pool maintenance, clubhouses, security, and administrative costs. The HOA fees will vary widely from condo association to association so the Veenstra Team will be able to provide information about the monthly fees and the HOA buy in fees when you are interested in any condominiums.
Condominium owners are all members of the condo association. The association is typically run by a volunteer Board of Directors, usually other residents who who act as go betweens for the homeowners and , often a professional management companies who are often hired to assist the board in their decisions. The condo association also ensures that the rules and regulations of the association are carries out and work to maintain the value of the development and the investments of all the owners.
HOA Associations in the greater Kalamazoo area typically post rules and regulations which usually offer answers to some or off of the following questions:
- Are dogs allowed in the condo association?
- Is there a limit to eh size of the dogs in the condo association?
- Is there an age limit to live in the condo association?
- Are utilities covered by my condo association fee?
- How are Board members of the association elected?
- How often are board meetings of the Home Owners Association?
- Do I need to get approval of the board to buy or sell a condo in the condo association?
- What are the hours of use in the condominium clubhouse and exercise facility?
Connect with the Veenstra Team by phone (269-350-5514) or by CLICKING HERE to complete a quick contact form. The Veenstra Team are becoming the top condo specialists in the Greater Kalamazoo Community. We will connect you with an amazing tool that will ensure that YOU get an email, AT THE SAME TIME AS REALTORS DO, when new condos are for sale in Kalamazoo or Grand Rapids.
Though we have not said much about it, we can provide the amazing Condo Search Tool for other cities in SW MI too! We have a condo search tool for Holland Condos For Sale, Grand Haven Condos For Sale, South Haven Condos For Sale, Battle Creek Condos For Sale, Hudsonville Condos For Sale and the Greater Grand Rapids Area Condos For Sale.