Buying a Condo or Townhome in South Jersey? Let's Find the Right Home and Community.

Why Are So Many Buyers Interested in Condos and Townhomes?

For the right buyer, condo or townhome living can offer an appealing combination of convenience, location, and lifestyle.

Condo or Townhome? What's the Difference?

This is something I explain to buyers all the time.

A condominium describes a form of property ownership. A townhome generally describes a style of home.

That means a townhome can be legally owned as a condominium, fee-simple property, or another ownership arrangement.

Buying a Condominium

When you purchase a condominium, you typically own your individual unit and share an ownership interest in the community's common elements.

An association usually manages designated common areas and certain building or property maintenance responsibilities.

You'll generally pay association fees to help cover the community's operating costs, insurance, maintenance, and reserves.

Buying a Townhome

A townhome is often a multi-level home attached to one or more neighboring properties.

Depending on the legal ownership structure, you may own the building and land or own a condominium interest in the property.

Some townhome communities have homeowners associations that handle landscaping, common areas, or other services. Others leave more maintenance responsibilities to the individual homeowner.

The important thing to understand is that two properties that look similar can have very different ownership structures, rules, and expenses. I'll help you identify these differences and obtain the information you need to make an informed decision.

Before You Buy, Let's Talk About Association Fees

One of the first questions I hear from condo buyers is: "What does the monthly association fee cover?"

That's an excellent question, and one you should ask before purchasing.

Depending on the community, association fees may cover some combination of:

• Landscaping and common-area maintenance.
• Snow removal.
• Exterior building maintenance or repairs.
• Roof maintenance or replacement.
• Common-area lighting.
• Trash or other utility services.
• Swimming pools, clubhouses, or community amenities.
• Master insurance coverage.
• Contributions to reserve funds for future repairs.

Not every community includes the same services. Some properties may also have more than one association, which can mean multiple fees.

Is a Low Association Fee Always Better?

Not necessarily.

A community with low monthly fees may seem appealing, but you should also consider whether the association has sufficient funds for ongoing operations and anticipated major repairs.

An association that isn't adequately funded may need to increase fees or impose special assessments.

I'll help you understand which questions to ask so you can evaluate the full cost of ownership.

What Is a Special Assessment, and Why Should Buyers Care?

A special assessment is an additional charge an association may impose on homeowners to pay for expenses that aren't sufficiently covered by its regular budget or available reserves.

For example, a community might need money for roof replacements, major building repairs, parking lot improvements, or other significant projects.

Depending on the circumstances, an assessment could amount to hundreds or thousands of dollars per unit.

Before buying a condo or townhome, I encourage buyers to investigate:

• Whether any special assessments have been approved.
• Whether future assessments are being considered.
• Whether major repairs or capital projects are planned.
• Whether the association has adequate reserves.
• Whether monthly fees have increased recently.
• Whether there are significant maintenance issues affecting the community.

I'll help you request available information and work with your attorney, lender, and other professionals to evaluate any concerns.

You don't want to discover a major unexpected expense shortly after purchasing your new home.

Does Financing Work Differently for Condos and Townhomes?

In some cases, yes.

Lenders often review condo and townhome associations more closely than they do single-family homes, because the financial health of the association can affect your loan.

Depending on your loan type, your lender may ask about:

• The association's budget and reserve funds.
• The percentage of units that are owner-occupied versus rented.
• Pending litigation involving the association.
• Delinquency rates among other owners.
• Whether the community is already approved for FHA or VA financing.

Some communities are easier to finance than others, which is one more reason to work with a Realtor and lender who understand how to navigate condo and townhome purchases.

What About Pets, Parking, and Rental Rules?

Every association has its own rules, and they can vary significantly from one community to the next. Before buying, it's important to understand:

• Whether pets are allowed, and if there are size, breed, or quantity restrictions.
• How parking is assigned, and whether guest parking is available.
• Whether rentals are permitted, and if so, under what conditions.
• Any restrictions on exterior modifications, such as storm doors, flags, or landscaping.
• Rules regarding noise, move-in procedures, or use of common areas.
• Any age restrictions, in the case of some 55-and-over communities.

I'll help you review the association's governing documents so there are no surprises after closing.

Where Can You Find Condos and Townhomes in South Jersey?

Condo and townhome communities are available throughout South Jersey, including in:

I can help you explore condo and townhome communities in these towns and others throughout Camden, Burlington, and Gloucester Counties.

Is a Condo or Townhome Right for You?

Before you start touring properties, it can help to think through a few questions:

• Do you want less exterior maintenance, or are you comfortable maintaining a yard yourself?
• Would you prefer shared amenities, like a pool or clubhouse, or would you rather not pay for amenities you may not use?
• Are you comfortable with association rules that may limit some changes to your property?
• Is your budget better suited to a condo, a townhome, or a single-family home?
• Do you need a community that allows rentals, in case your plans change down the road?

There's no universally right answer. It depends on your lifestyle, your budget, and your long-term plans.

I'm happy to talk through your priorities and help you figure out which type of home makes the most sense for you.

How I'll Help You Buy a Condo or Townhome in South Jersey

1. We'll talk about your goals. I'll learn what's bringing you to a condo or townhome and what matters most to you in a community.
2. We'll get you connected with financing. If you don't already have a lender, I can introduce you to professionals experienced with condo and townhome financing.
3. We'll tour communities and homes. I'll help you compare amenities, fees, and rules across different communities.
4. We'll review the association documents together. I'll help you understand budgets, reserves, rules, and any pending assessments or litigation.
5. We'll negotiate your offer. I'll help you structure a competitive offer with appropriate contingencies.
6. We'll get you to the closing table. I'll guide you through inspections, attorney review, and closing, answering your questions along the way.

Why Work With Michaela Hartery?

Selling Your Current Home Before Buying a Condo?

If you're downsizing from a single-family home into a condo or townhome, you may need to sell your current home first, or coordinate the timing of both transactions.

I help clients plan this kind of move all the time, and I can walk you through your options.

LET'S PLAN MY DOWNSIZING MOVE

Frequently Asked Questions

Ready to Find Your Next Home?

Whether you're looking for a low-maintenance condo, a spacious townhome, or you're still deciding between your options, I'm here to help you find the right fit.