O’Connell Team - Wilmington MA Real Estate, Tewksbury MA Real Estate, Billerica MA Real Estate


This Condo in Lowell, MA recently sold for $189,000. This Townhouse style home was sold by O’Connell Team - Exit Family First Realty.


201 Thorndike St, Lowell, MA 01852

Condo

$189,000
Price
$189,000
Sale Price

4
Rooms
2
Beds
1
Baths
Explore this stunning two bedroom, one bathroom loft with style and sophistication just steps from the Lowell Commuter Rail. This stunning unit offers an open concept living and dining area with gorgeous hardwood floors. The kitchen boasts sleek stainless steel appliances and custom lighting. The living area offers large windows that highlights this units natural charm. Two good size bedroom and a gorgeous renovated bathroom. This unit is located just off the Lowell Connector, only minutes away from routes 495 and 3, Downtown Lowell, and steps from the commuter rail. Make this your home today.

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Image by Free-Photos from Pixabay

Common-interest housing includes individually owned spaces and common areas shared by all owners. The common areas can include clubhouses, landscaping, parking lots or pools. Multistory buildings share lobbies, stairwells, and elevators. Any community that shares property including single-family free-standing homes in developments, falls into the common-interest category. 

The two most familiar types of common-interest housing terms are condominiums (or condos) and townhomes (or townhouses). Although both belong in the category of common-interest housing, condos and townhouses may mean different things depending on regional or legal definitions.

The Difference

A condo is a shared building or group of buildings and common spaces in which housing units are owned individually. This could be a single unit within a tower building or a conjoined home having its own ground floor with exterior entry. Other homes in the condominium category include single-family cottages or even modular homes inside planned communities. When you purchase a condo, you own the unit itself while you are a co-owner of the common areas.

A townhome is a style of house that is connected to another structure on at least one side. It may be solely owned by an individual as part of a CID, part of a multi-family apartment dwelling, or individually owned without property in common. A true townhome is built with independent sidewalls that stand alone even if they touch the walls of another townhome. When you purchase a townhouse, you own the unit itself and whatever yard area is affiliated with it as you would with a detached single-family house.

While condominium units might incorporate elements like private outdoor spaces, individual ground-floor entry options or design elements that resemble those of a townhome, it is ownership that truly defines them. 

Homeowners’ Association 

All CID properties have a homeowners’ association (HOA) of some sort. While some are mainly hands-off with regard to individual units, others have specific regulations regarding renting, remodeling, and exterior décor. 

If you are trying to decide between purchasing a condominium or a townhouse, have your agent explain the differences in common ownership between them, and make certain to factor in the HOA fees to your monthly budget.


This Condo in Tewksbury, MA recently sold for $274,900. This Garden style home was sold by O’Connell Team - Exit Family First Realty.


53 Randolph Drive, Tewksbury, MA 01876

Condo

$274,900
Price
$274,900
Sale Price

5
Rooms
2
Beds
1
Baths
Immaculate garden style condo located in desirable Pheasant Hunt Condominiums. This second floor unit features 5 rooms including 2 spacious bedrooms with plenty of closet space. Updated kitchen with stainless steel appliances flows nicely into the dining room and living room which are ideal for entertaining family and friends! Enjoy some outdoor relaxation time on your exclusive deck! Laundry in unit, washer and dryer to remain. 1 car detached garage, plenty of guest parking, designated storage space on upper level. Common area club house on-site. Close to town amenities and highways. Pets are allowed with restrictions which includes cats with no weight restriction and dogs under 20 lbs. This condo is truly move-in ready with quick closing possible.

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This Condo in North Reading, MA recently sold for $189,900. This Mid-Rise style home was sold by O’Connell Team - Exit Family First Realty.


38 MAIN STREET, North Reading, MA 01864

Condo

$189,900
Price
$189,900
Sale Price

3
Rooms
1
Beds
1
Baths
Well maintained one bedroom unit at Park Colony. Great location near all major travel routes. Spacious layout with eat-in kitchen, newer stainless steel gas stove, vent hood, stainless dishwasher, floor, kitchen light fixture, freshly painted, newer wall AC unit, easy care laminate floors, thermostat, smoke and CO2 detectors. Newer bathroom floor, tub resurfaced, new hallway light fixture, new vertical blinds on the sliding door, new bedroom darkening shade. Sliders leading to patio and outside space with pool and play area. The unit is move-in condition. One parking space and guest parking available. FIRST SHOWINGS WILL BE AT THE OPEN HOUSE SUNDAY, APRIL 28th FROM 12:00 to 2:00 p.m.




After you complete a condo inspection, you'll need to make a major decision: Should you move forward with your condo purchase or rescind your offer?

Ultimately, there are several important questions to assess before you finalize your decision on a condo, including:

1. What was discovered during the property inspection?

Study the results of a condo inspection closely. By doing so, you'll be able to learn about a condo's strengths and weaknesses and plan accordingly.

A property inspector will evaluate a condo both inside and out. He or she also will provide honest, unbiased feedback, enabling you to make an informed decision about how to proceed with a condo.

Take into account major and minor condo problems that a property inspector discovers. And if this inspector finds minor flaws associated with a condo, you may want to stay the course and move forward with your initial proposal.

On the other hand, if a property inspector finds significant problems with a condo, i.e. issues that may prove to be costly and time-consuming, you may want to consider rescinding your offer. Or, in this case, you can always ask the condo owner to complete property repairs before you finalize a condo purchase.

2. How much will it cost to perform assorted condo repairs?

The costs associated with condo repairs will vary. However, if you allocate the time and resources to learn about condo problems and the costs associated to fix these issues, you may be able to avoid expensive, time-intensive mistakes.

For example, consider what might happen if a property inspector discovers a defective kitchen light switch in a condo. Although this light switch is a problem, the time and costs needed to repair or replace the faulty light switch likely are minimal. As such, a condo buyer may choose to ignore this problem, or a condo owner may be willing to complete the fix quickly.

Conversely, consider what could happen if a property inspector finds that a condo's furnace is defective. It may cost thousands of dollars to fix or replace a faulty furnace. As a result, a condo buyer may ask the property seller to repair or replace the defective furnace. And if the condo owner fails to do so, a buyer may choose to walk away from the condo purchase altogether.

3. Can I enjoy this condo both now and in the future?

It is essential to consider both the short- and long-term ramifications of a condo purchase. That way, a condo buyer can determine whether a property can serve him or her well for years to come.

A property inspection offers valuable information that a buyer can use to assess the pros and cons of purchasing a condo. Furthermore, a condo buyer who works with an experienced real estate agent can get the support needed to make the best decision possible.

Consider the aforementioned questions as you evaluate your options following a condo inspection, and you should have no trouble deciding whether a particular condo is right for you.




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