Buying a Condo in San Diego - 4 Tips and Resources for San Diego Homebuyers
If you are planning on buying a condo in San Diego, there are several things you should consider.
I often tell my clients that buying a San Diego condo is like putting together a thousand-piece puzzle... There are so many things to do, there is so much to learn, and the order you choose to do everything in makes a great difference.
One of the most important things you can do is simply start the process (take action), and here are my top four tips and suggestions for buying a condo in San Diego:
Tip #1: First things first...
It's generally best to start with (A) hiring your buyer's agent, (B) getting pre-approved for your loan (or liquidating your assets if you're paying cash), and (C) beginning to do your preliminary research on areas, price ranges, etc. - in that order.
These are the most important steps (the first few pieces of the puzzle). These steps are so important, in fact, that I've devoted a separate article about this process at the following link: 3 Tips for Buying a Home or Condo in San Diego.
If you're buying a condo in San Diego, learning about the "financial health" of the HOA will be as (or more) important to you than conducting your professional property inspection.
The reason an HOA's financial health is so important is that an HOA in San Diego has the legal authority to send you and the other homeowners a special assessment if the HOA doesn't have enough money to pay its bills.
Do you want to be surprised by a $5,000 or $10,000 bill in the mail after you buy your condo? Heck no!
Do your research and learn about all the documents and information you can review before buying a condo.
If it makes you feel any better, I've received professional training on condos and the financial health of HOAs, AND I've even earned a professional designation called Certified Condo Specialist(CCS).