Many Boston condo owners, including those who own in Boston dowtown area, have developed negative feelings for their condo association because of high monthly fees or notices they have received about violations of strict condominium rules. While there may be a few things to dislike about Boston condo associations there are true benefits associated with these organizations as well.
Maintains Property Value
A strong Boston condo assocaition will help your property values stay high by maintaining or improving the condition of the neighborhood or community. For example, a condo unit’s value will be tied to the quality of the amenities in the building as well as to the overall condition of the building. Because of this, many people who understand the value of an condo assocaition will seek out a new property with a strong association rather than a weak one that is poorly managed.
Protects Owner’s Rights
The Boston condo association also ensures that the rules are enforced fairly and protects your rights as a property owner as well. For example, your particular condo building may have a noise ordinance, and the condo assocaition will handle any complaint you have with your neighbor without you having to get directly involved.
Monitors Legislation Changes
The building condo association will also actively monitor pending legislation changes, building developments in your area, and more. These are things that may impact property value, the living experience of residents, and other critical factors. Because most residents do not have the time to actively monitor these developments themselves, the building assocaition can be an advocate that protects the residents’ interests.
You may not always enjoy every aspect associated with having a condo assocaition, but a strong HOA presence can be a true benefit. When you are paying your dues, dealing with a notice of a rule violation, or having some other issue with your HOA, try to stay focused on the benefits that the organization provides to you.
When shopping around for Downtown Boston real estate, always keep the assocation in mind, as it can significantly affect your monthly payment amount. You might also consider working with a friendly and experienced agent who can offer you comps based on the area and amenities and advise you on whether or not a unit in a specific building is really aligned with your purchasing goals. Reach out today, and take the next step to buying the Boston condo of your dreams.
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