WHY A CONDO? (See Condo Listings Below)
A condominium is a form of ownership in which owners share an interest in common areas, such as parking structures and shared yards, and hold title separately to their individual units. Owners are members of a homeowners' association, or HOA, which enforces and amends the association rules and regulations. Depending on your personal preferences, there are advantages to buying a condo instead of a house.
Costs
A condominium generally costs less than a similarly located and sized single-family home. Because the overall cost is lower, both the monthly mortgage payment and the property taxes will be lower. Even with the HOA fees, which are used for maintenance of shared features like landscaping, your total monthly carry costs may be lower.
A condominium generally costs less than a similarly located and sized single-family home. Because the overall cost is lower, both the monthly mortgage payment and the property taxes will be lower. Even with the HOA fees, which are used for maintenance of shared features like landscaping, your total monthly carry costs may be lower.
Mortgage Requirements
Lenders will actually help you understand whether a complex you want to buy into has a stable financial environment or not. They will look at the HOA reserve fund and the percentage of units occupied by owners as opposed to tenants. They will also look at the insurance coverage if it is maintained by the HOA instead of individual condo owners. If any one of these areas is not up to their standards--usually requiring a reserve fund consistent with the HOA rules, more than 50 percent owner occupancy and insurance that will at minimum repay all unit mortgages, they will not lend for a unit there. This is a good thing. It will help ensure that when you do buy a condo, it will be in complex that is economically viable.
Lenders will actually help you understand whether a complex you want to buy into has a stable financial environment or not. They will look at the HOA reserve fund and the percentage of units occupied by owners as opposed to tenants. They will also look at the insurance coverage if it is maintained by the HOA instead of individual condo owners. If any one of these areas is not up to their standards--usually requiring a reserve fund consistent with the HOA rules, more than 50 percent owner occupancy and insurance that will at minimum repay all unit mortgages, they will not lend for a unit there. This is a good thing. It will help ensure that when you do buy a condo, it will be in complex that is economically viable.
Amenities and Maintenance-Free Living
If you do not like the responsibility of keeping up the grounds around your home but enjoy lush landscaping, the HOA yard maintenance will be a feature you like. If your condo complex has a pool or other amenities you enjoy but could not afford for yourself in a single-family home, a condo may work for you. You won't have to clean the pool or check the hot tub chemicals. It will all be done for you.
If you do not like the responsibility of keeping up the grounds around your home but enjoy lush landscaping, the HOA yard maintenance will be a feature you like. If your condo complex has a pool or other amenities you enjoy but could not afford for yourself in a single-family home, a condo may work for you. You won't have to clean the pool or check the hot tub chemicals. It will all be done for you.
Convenient Locations
If you want to live in the heart of a densely populated urban area, in close proximity to a wide array of commercial uses, a condominium may be your only choice of housing. Land values in many downtown locations are prohibitively high for the construction of single-family homes. Living in a downtown condominium will open doors to cultural and sporting events you might never consider commuting to on a regular basis.
If you want to live in the heart of a densely populated urban area, in close proximity to a wide array of commercial uses, a condominium may be your only choice of housing. Land values in many downtown locations are prohibitively high for the construction of single-family homes. Living in a downtown condominium will open doors to cultural and sporting events you might never consider commuting to on a regular basis.
Other Considerations
Condo complexes often have security features that very few single-family home owners could afford--everything from a gated entrance to 24-hour security guards. Additionally, because each unit is in such close proximity to others, your neighbors can serve as eyes and ears even when you're away.
Condo complexes often have security features that very few single-family home owners could afford--everything from a gated entrance to 24-hour security guards. Additionally, because each unit is in such close proximity to others, your neighbors can serve as eyes and ears even when you're away.
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5980 S Clearview Loop
Wasilla, AK 99654$289,300
- 3
- 2.5
- 2265
- Active
- 13-12582
Spinells Eklutna Model @ Clear View Condos featuring an unsurpassed view of the Mountains & Inlet. A 4 CAR Garage is a plus to this home. Cherry Wood...Listing Office: RE/MAX Dynamic of the Valley
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5990 S Clearview Loop
Wasilla, AK 99654$234,000
- 3
- 2.5
- 1714
- Active
- 13-4359
Magnificent mountain & inlet views perched on a bluff overlooking Settlers Bay.Convenient floor plan offers open ktchn, dng, lvg area all facing the w...Listing Office: RE/MAX Dynamic Properties -
6170 S Clearview Circle
Wasilla, AK 99654$218,300
- 3
- 2.5
- 1714
- Active
- 13-12576
Stunning INLET VIEWS from this Well Maintained Condo. End Unit! Buy to live in or make it your get away Retreat! Like NEW condition w 3 BRs, 2.5BAs,...Listing Office: RE/MAX Dynamic of the Valley -
3954 N Coronado Street
Wasilla, AK 99654$199,950
- 3
- 2
- 1378
- Active
- 13-14473
Beautiful, brand new ranch style home built by Helton Construction. Located in a beautiful area with lake access, this home has a 5* energy rating, va...Listing Office: Alaska Premier Real Estate, LLC -
401 S Wasilla
Wasilla, AK 99654$181,260
- 4
- 2
- 1514
- Active
- 13-14091
Beautiful Condominium with gorgeous views of the Chugach mountains and Wasilla Lake. this 4 bedroom beauty has hardwood flooring, vaulted ceilings, d...Listing Office: Midnight Sun Realty -
3500 S Peninsula Drive
Big Lake, AK 99654$174,900
- 1
- 1
- 551
- Active
- 13-16457
One bedroom unit w/private deck overlooking Big Lake; Amenities include designated dock slip & 470sqft garage. Common areas include landscaped lakefro...Listing Office: Herrington and Company, LLC -
1463 S Center Point Drive
Wasilla, AK 99654$169,900
- 2
- 2
- 1243
- Active
- 13-15175
Warm and cozy condo in the only fenced and gated community in Alaska, great location, easy commute. 2 bedroom and 2 bath with open living concept. S...Listing Office: Kibe Lucas Team Branch Office Keller Williams - Alaska Group -
991 E Sue Lane
Wasilla, AK 99654$119,900
- 3
- 2
- 1016
- Active
- 13-16771
Gorgeous ranch style condo that is meticulously clean and in like-new condition. Granite counter tops throughout, master bedroom with master bath suit...Listing Office: Rasmussen Properties -
201 E Danna Way
Wasilla, AK 99654$119,500
- 2
- 1
- 990
- Active
- 13-14012
Maple cabinets as compared to oak in similar units. Dues include natural gas, trash, snow removal, yard maintenance, building and driveway maintenance...Listing Office: IEC Realty -
1792 E Neil Circle
Wasilla, AK 99654$117,000
- 2
- 1
- 900
- Active
- 13-16134
Unbelievable affordability for almost any budget. Newer, 2 bedroom, 1 bath home, with oversized 1 car garage. All appliances included. Great centraliz...Listing Office: Keller Williams Realty Alaska Group
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The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than Malcuit Duo - Keller Williams Realty Alaska Group are marked with either the listing brokerage's logo or the AK MLS logo and information about them includes the name of the listing brokerage. Malcuit Duo - Keller Williams Realty Alaska Group does not display the entire AK MLS IDX Listing Content Database on this web site. The listings of some real estate brokerages have been excluded. Last Updated Dec 7, 2013 4:00:am. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Copyright 2013 Alaska Multiple Listing Service, Inc. All rights reserved.- Home |
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