The Complete Guide to Purchasing a Condo, Townhouse, or Apartment: What Smart Investors Need to Know—Explained Simply
Brand New Release!
While many of the steps in buying a home are the same as buying a condominium, townhouse, or apartment, there are many critical differences. This new book offers a complete overview of these special, usually smaller, residences. These units can be good options for first-time home buyers, for those who want a vacation getaway, investors, and those who want to downsize their living space. These housing units are usually less expensive than a single family home and can include attractive amenities. In purchasing one of these units there will be a lot of people to deal with, from realtors, condo boards, attorneys, to bankers. There’s tons of paperwork with terms and vocabulary that read like a foreign language. In this new book you will find vital information and great strategies for finding the home you want faster and feeling confident about the purchase. You will learn to avoid some of the most prevalent—and potentially dangerous and expensive—mistakes made by others.
The book covers the entire, unique process of buying one of these shared living houses in an easy-to-understand way, pointing out dozens of hints and suggestion as to what to look for as well as demonstrating the many mistakes common with these types of investments.
You will learn how to find the best opportunities, to negotiate, finance, budget, handle pre-construction issues, set values, and make the offer. You will be able to define what you are buying (and what you are not) issues on your right to sell, lease, or mortgage. You will be prepared for restrictions pertaining to children, pets, parking, vehicles, boats, music, maintenance of windows, doors, screens, air conditioners, plumbing, club memberships, recreation facility leases, use of recreational facilities, and common areas. In addition, you will learn the advantages of using credit reports, home warranties, insurance, creative financing, closing procedures, moving plans, closing and settlement inspections, and certain legal contracts. You will have instruction in obtaining mortgages—which government agencies can help, considerations for veterans, IRA use, hiring an attorney, calculating monthly payments, and establishing an escrow account. The real estate and mortgage glossaries alone are invaluable resources, even for the “old hand” at property acquisition. ISBN-10:1-60138-036-4 • ISBN-13:978-1-60138-036-4 • Item #CGP-01 • $24.95
http://www.atlantic-pub.com/cgi-local/shopper.exe?preadd=action&key=CGP-01
The Complete Guide To Purchasing A Condo, Townhouse, Or Apartment
What Smart Investors Need To Know—Explained Simply
Susan Smith Alvis
This book is a good guide to the absolute beginner learning about real estate. Recent college graduates, young families, and those looking to downsize from a larger home will find helpful basic information. In addition, those who are thinking about buying condos as investment or vacation properties will also find direction in this book.
Covering all aspects of homebuying from the initial analysis of home needs through the ongoing relationship with the homeowners association, this book comprehensively addresses all aspects of shared residence living. Tips and case studies from investors and realtors sprinkle the book with real-world advice. Some helpful ideas: “Drive by your property at different times of day to see whether the activity level fits your lifestyle”; “Buy a two-bedroom even if you only need one, since this will be easier to sell in the future.” Information about how to set boundaries with new neighbors and how to represent yourself on the association board is particularly helpful in establishing someone in a new home.
Alvis has organized her book into chapters that lead the buyer or investor through the process. Though some chapters could have been combined, leading to less repetition in ideas, information is easy to find. One wonderful bonus is the Appendices offering useful tools, payment calculators, sample homeowner’s and legal documents, and the like.
Alvis’s writing style and anecdotes help the ideas to flow. Much of this information will be familiar to people who have already owned a home, but the new investor will find this guide to be helpful.
Comment by Angelawd — September 12, 2007 @ 5:07 pm
This book is ideal for people who have never bought a condo, townhouse, or apartment. Each type of property is defined, and myths about different properties are dispelled. The ideas are explained in straightforward language. It’s full of useful caveats that revolve around such topics as upcoming assessments, homeowner’s boards, restrictions, types of neighbors, and amenities. Quite a bit of the book is dedicated to discussion on the pros and cons of shared housing. There are also discussions on home warranties, subleases, lease options, and vacation homes. In the back are a glossary, appendices with checklists, and an index, so the book can serve as a resource for later use. The amortization schedules in appendix probably aren’t necessary because you can find this information online, but it doesn’t hurt to have them there because they’re in an appendix, not in the text. 5 stars!
Comment by Laurie — October 25, 2007 @ 9:38 am
Rating 5 stars
The author takes great pains to dispel those lingering myths about condo ownership. She does this in a light easy tone. The book has a good layout in an easy to read format. The chapters flow nicely into one another. The author has included some very interesting case studies and anecdotes provide by others in the Real Estate field.
The book is full of strong practical advice. It also pulls no punches, she makes it clear that condo townhome ownership is not for everyone. She makes sure to cover not only the good points but the bad ones as well, especially in the area of Homeowners Associations-she explains their importance and how to deal with them. All of this done in an easy friendly manner with a welcome touch of humor.
The book is an excellent checklist for anyone considering buying.
Comment by Jennifer Flaten — December 20, 2007 @ 12:04 pm
Realtor turned author Susan Smith Alvis knows how to generate a profit– and in her latest title, “The Complete Guide to Purchasing a Condo, Townhouse, or Apartment”, she provides a no-holds-barred, handy reference aimed at maximizing your multi-family property investment dollars. Here, Alvis draws upon her considerable knowledge and “insider’s” perspective to lay bare the complexities — from shopping to closing– of these unique transactions utilizing a deceptively simple, straightforward tone and format; while her expertise is apparent throughout each chapter, the book’s major strength lies in its easy readability and common-sense advice. Another plus — though it is primarily oriented toward the first-time investor, the author has devoted substantial material to the buyer intent on occupying a shared housing unit full-time. No consumer is excluded, and, indeed, it is a fair assertion that even the seasoned landlord will glean new and relevant information from this guide.
Clearly, the work is tailored to the conscientious buyer. As such, Alvis: defines — in a logical, step-by-step fashion — the differences between these specialty properties; illustrates: the necessary considerations based upon the buyer’s goals; uncovers: the challenges specific to these structures via varied scenarios; and, more importantly, educates. And, in addition to her own hard-earned insights, this veteran real estate professional includes solid counsel and oft-unknown purchase tips from colleagues representing a cross-section of national markets. These tips — all gems and presented in a fun, “classified case study” quote context — outline realistic scenarios designed to navigate the prospective condo, townhouse, or apartment owner through unforeseen wrinkles and avoid potential pitfalls so as to culminate in a successful sale, regardless of occupancy or investment intent.
Ultimately, “The Complete Guide to Purchasing a Condo, Townhouse, or Apartment” is an invaluable reference for the homeowner or investor considering a shared housing unit(s) acquisition.
Comment by Elisa Garcia — January 24, 2008 @ 2:34 pm
Despite all the fluctuations in the real estate market these days, buying a place of their own is still high on the list of priorities for many people. However, an increasing number of buyers are examining the advantages of shared housing space, as opposed to purchasing a house. Whether you’re thinking about investing in a condo, townhouse or apartment for yourself or as an investment, first pick up a copy of Susan Smith Alvis’ useful guide.
Alvis offers potential homeowners a better understanding of the difference between the different types of properties, and examines the benefits and drawbacks of shared housing. While some might prefer the greater degree of privacy provided by a single-family home, the alternative offers advantages such as low maintenance and a sense of community. But, Alvis notes, real estate professionals always say, “Location, location, location,” for a good reason. Whether you’re buying a condo, townhouse or apartment as a place to live or as a rental property, bear in mind that it is important to ask questions such as: Why is the property for sale? How many bedrooms and bathrooms does the place have? Is it close to schools, work, and shopping?
In addition to explaining important documents such as disclosure, and insurance forms, Alvis closes her book with an extensive glossary of property-related terms that are clearly defined. She also includes a financial table that will allow potential homeowners to calculate their monthly payments. So, before you buy, first invest in a copy of Alvis’ valuable guide. She’ll help you get the best value for your money.
Rating = 4 stars (recommended)
Comment by Patricia A. Martinelli — February 4, 2008 @ 12:48 pm