BellaOnline Forums Money Home Ownership Seeking Advice from Condo Owners

I'm in the market for a condo in Dallas and was wondering if anyone has any experience/advice.

I've heard there is a lot to consider with regard to HOA's, and many people have gotten burned with them.

I put a contract on a condo two weeks ago, but because of structural issues that popped up as a result of the inspection, I terminated the contract. Back to the drawing board!

Hi. I don't own a condo but I'll tell you what I know. Condo's, PUDs (planned unit developments) and co-op have HOAs. You need to read everything the HOA or seller gives you prior to purchase because of possible restrictions. There is usually rules and regulations and by-laws. Rules can be things such as: they may not allow subletting. PUDs sometimes have restrictions like the color of your home, no boats, no pools. You may also be able to check with the local Attorney General's office where the condo is located to see if there have been any complaints. HOAs are usually run by the tenant owners, so it may be a good idea to get involved. Hope this helps a little.

Rosemary
Home Ownership Editor